Global Machine Learning industry valued approximately USD 1.02 billion in 2016 is anticipated to grow with a healthy growth rate of more than 45.9 % over the forecast period 2017-2025. Machine learning technology enables the computer system to read and understand the data without applying any explicit code. Machine learning is being readily adopted by organizations to gain competitive advantage as it enables them to enhance customer experience. Major drivers of the market are increasing adoption among end use sectors, exploding big data and the urge of organizations to utilize big data capabilities and technological advancements. However lack of skilled employees is the key factor which is restraining the growth of the market.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Fraud and Risk Management
Sales and Marketing Campaign Management
Others (compliance management and credit underwriting)
Healthcare and Life Sciences
Disease Identification and Diagnosis
Others (clinical trial research and epidemic outbreak prediction)
Upsell and Cross Channel Marketing
Segmentation and Targeting
Others (customer ROI and lifetime value, and customization management)
Others (digital assistance/contact centers analytics and marketing campaign analytics)
Government and Defense
Autonomous Defense system
Others (sustainability and operational analytics)
Supply Chain Management
Others (root cause analysis and telematics)
Energy and Utilities
Power/Energy Usage Analytics
Seismic Data Processing
Smart Grid Management
Others (customer specific pricing and renewable energy management)
Others (Education, Agriculture, Media and Entertainment, and Education)
Rest of the World
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Furthermore, years considered for the study are as follows:
Historical year – 2015
Base year – 2016
Forecast period – 2017 to 2025
Some of the key manufacturers involved in the market:
Microsoft Corporation, SAP SE, Amazon Web Services, Inc, Google Inc, and Bigml, Inc. Acquisitions and effective mergers are some of the strategies adopted by the key manufacturers. New product launches and continuous technological innovations are the key strategies adopted by the major players.
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