Deep learning technology is a part of machine learning which is based on artificial neural networks. The technology is a set of instructions programmed in order to achieve human brain alike operations through machines. Deep learning platforms are being developed based on the technology used for various devices such as IoT, autonomous vehicles, and others. Some of the major instances of deep learning assisted devices include driverless cars, smart consumer devices such as phones, tablets, TVs, and hands-free speakers. The devices based on deep learning technology works on the platforms designed with machine learning. Due to the growing demand for automation, the adoption of deep learning platforms is increasing at a considerable rate in various sectors such as manufacturing, media and entertainment, BFSI, and others.
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Moreover, ease of operations and time-saving process of deep learning platforms are supporting the growth of the global deep learning technology market. Further, the market growth is attributed to a high number of market players, substantial growth in the fin-tech industry, and adoption of deep learning in big data analytics. However, the lack of technical expertise and the absence of proper standards may hamper the growth of the global deep learning technology market. The technology is in the nascent phase and due to lack of proper standards for operations, organizations are reluctant to adopt the technology, which as a result acting as a barrier in the market. Despite the challenges, the market is estimated to create a number of opportunities due to shifting work from hardware to software-based operations, and growing ICT industry in emerging economies such as India, and China.
The global deep learning technology market is segmented on the basis of application and end-user. On the basis of application, the market is further segmented into data mining, image recognition, signal recognition, and others. Deep learning for image recognition is expected to hold a considerable market share in the global deep learning technology market. Further, on the basis of end-user, the market is segmented into BFSI, manufacturing, healthcare, automotive, and others. Moreover, on the basis of geography, the market study the analysis of North America, Europe, Asia-pacific, and the rest of the world. North America is expected to hold a significant share owing to the presence of major market players in the US.
The global deep learning technology market is composed of various major market players which are supporting the growth of the market. Some of the major market players include Amazon Web Services, Inc., IBM Corp., Intel Corp., NVIDIA Corp., Sensory, Inc.¸ Microsoft Corp., Clarifai, Inc., Cisco Systems, Inc., and Qualcomm Technologies, Inc. In order to enhance the market presence and strengthen the revenue model of the business, the market players are adopting various strategies such as product launch, geographical expansion, mergers and acquisition, and partnership and collaboration. For instance, in April 2019, Google, LLC launched a new AI platform for machine learning professionals. The project can support the entire development lifecycle for developers’ machine learning projects. The launch will support the company’s product portfolio.
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Global Deep Learning Technology Market Segmentation
By Application
Data Mining
Image Recognition
Signal Recognition
Others (Drug Discovery)
By End-User
BFSI
Manufacturing
Healthcare
Automotive
Others (Aerospace and Defense, IT & Telecom)
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
