Machine Learning Industry in Gaming and Entertainment: Shaping the Future of Interactive Experiences 2023-2030
Machine Learning Industry | Forecast 2030
Machine Learning Industry Data Book - Machine Learning, Deep Learning, Natural Language Processing Market
The industry data book is a combination of the market data from four reports namely, machine learning, deep learning, and natural language processing market. The machine learning market was valued at 25.58 billion in 2021 with a CAGR of 35.6% during 2022-2030. Deep learning market and natural language processing market are also expanding with a CAGR of 34.3% and 41.3% respectively. These technologies have been integrated in a variety of industries, including robots and drones, facial recognition on social networking sites and automated image arrangement on visual websites, among others. The requirement for monitoring and upgrading large data computational models has become a significant priority among end users, subsequently, augmenting the market growth over the forecast period.
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Markets Covered |
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Machine Learning Market Size USD 25.58 billion in 2021 35.6% CAGR (2022- 2030) |
Deep Learning Market Size USD 34.83 billion in 2021 34.3% CAGR (2022- 2030) |
Natural Language Processing Market Size USD 18.51 billion in 2021 41.3% CAGR (2022- 2030) |
Machine Learning Industry Data Book Coverage Snapshot
Access the Global Machine Learning Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Natural Language Processing Market Growth & Trends
The global natural language processing market size is estimated to reach USD 439.85 billion by 2030, expanding at a CAGR of 40.4% from 2023 to 2030, according to a new study by Grand View Research, Inc. Machine learning is predicted to play a critical role in natural language processing (NLP) techniques, mostly in text analytics, as AI advances. In the future, unsupervised and supervised learning will enable machine-learning engines to undertake more in-depth assessments. According to their ongoing evolution, social media platforms are expected to play a superior role in business decisions. A company, for instance, can rely on several NLP tools to track customer evaluations, feedback, and comments about their business on social media platforms and in the news around the time of a quarterly report.
Factors such as increased usage of smart devices to facilitate smart environments boost market growth. Additionally, the demand for NLP technologies is expanding owing to the rising demand for sophisticated text analytics and increasing internet and connected device usage. In addition, NLP-based apps are increasingly being used across industries to enhance customer experience. Additional profitable market expansion potentials are anticipated due to rising healthcare sector investments. However, constraints in the development of NLP technology utilizing neural networks and complexity associated with the use of code-mixed language during the implementation of NLP solutions constrain the use of cloud-based services, which can create hindrances for market growth.
Order your copy of the Free Sample of “Machine Learning Industry Data Book - Machine Learning, Deep Learning, Natural Language Processing Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Deep Learning Market Growth & Trends
The global deep learning market size is expected to reach USD 526.7 billion by 2030, expanding at a CAGR of 33.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Deep learning is expected to gain sustainable momentum in the coming years owing to its high computational ability and improved complex data-driven applications. The growing emphasis on big data analytics and the adoption of Artificial Intelligence (AI) in customer-centric services is expected to propel the growth of the deep learning industry over the forecast period.
AI has evolved rapidly in recent years, enabling machines to perform cognitive tasks effectively. The adoption of AI across various sectors has unlocked numerous potential opportunities for machine learning and deep learning applications. Furthermore, AI-as-a-service such as virtual assistants has allowed smaller organizations to implement AI algorithms required for deep learning applications without a large capital investment. Moreover, the availability of a large amount of data and the need for high computing power encourage SMEs and large enterprises to invest significantly in deep learning technology.
Go through the table of content of Machine Learning Industry Data Book to get a better understanding of the Coverage & Scope of the study
Machine Learning Market Growth & Trends
The global machine learning market size is anticipated to reach USD 419.94 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 34.8% from 2023 to 2030. The market is experiencing continuous growth, driven by the increasing demand for AI-driven solutions across industries. It is expected to expand further as more organizations recognize the potential of machine learning and invest in its applications. The growing deployment of Edge AI is responsible for market growth. Edge AI reduces the reliance on cloud computing and provides faster response times, improved privacy, and bandwidth efficiency.
Numerous companies are using machine learning (ML) in various industries to boost productivity, streamline processes, and facilitate decision-making. ML is used for personalized product recommendations, demand forecasting, fraud detection, inventory management, and pricing optimization. For instance, Netflix, Inc., a U.S.-based media-streaming and video-rental company, uses machine learning to enhance the customer experience. The company has long been using machine learning algorithms to personalize its viewer recommendations. E-commerce firms like Amazon.com, Inc, a U.S.-based multinational technology company, also uses ML for recommendation to boost sales.
Competitive Landscape
The market participants are implementing several organic and inorganic growth strategies, including new product launches, product modernizations, collaborations, corporate expansions, and acquisitions and mergers. Further, the companies are also focusing on developing new products and services with enhanced capabilities. For instance, In May 2022, Meta announced the launch of a new Al platform MyoSuite. It is developed for building accurate musculoskeletal simulations for accelerating prosthetics development. In addition, researchers are also leveraging the platform for developing new prosthetics and novel surgery and rehabilitation practices. MyoSuite would also help in creating avatars with more realistic movements in the metaverse.
This section in the final deliverables also highlights various strategic initiatives taken by the key companies in the recent past that strongly impacts this market space. Increasing mergers & acquisitions and collaborations are anticipated to capitalize on the economic and environmental advantages for the market players and enable them to share ideas and enrich their internal skills and technologies. For instance, in July 2021, Google Cloud and SAP SE announced a strategic collaboration for assisting consumers to achieve business transformations, transferring vital business structures over to the cloud, and enhancing prevailing business systems with Google Cloud’s proficiency in artificial intelligence and machine learning.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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