Machine Learning Market Overview, Development Status and Outlook to 2026
According to ARC, the global machine learning industry is likely to exceed revenue of $76.8 billion by 2026, jumping 40.1 percent during 2019 - 2026.
Machine learning is a subset of artificial intelligence technology that provides systems the ability to spontaneously learn and improve from experience without being programmed in detail. It focuses on the development of computer programs that can access the data and practice it learn for themselves. Hence, as the name describes, the primary aim of machine learning is to allow computers to learn automatically without human assistance or intervention. It enables analysis of massive data at a faster rate and provides more accurate results to identify profitable opportunities or dangerous risks.
North America accounted for the maximum share of the market in 2018. This can be attributed to the presence of the number of banking organizations, investment in machine learning-based firms, and high adoption of next-generation technologies in the region. About 2900 companies are operating in the machine learning market in the U.S. However, the Asia Pacific is anticipated to observe the fastest growth during the forecast period. Increasing adoption of machine learning technology in emerging and developed countries in the region such as India, China, and Singapore, government support for next-generation technologies, and investment by service providers due to the presence of talent base are anticipated to boost the market growth in the coming years. In May 2018, NITI Aayog, a policy think tank of the Government of India, collaborated with Google LLC, a multinational technology company. Through this collaboration, the former company will incubate and train start-ups based on AI in India.
Based on the component, the market has been divided into hardware, software, and services. The software segment accounted for the significant share of the market in 2018 due to the high adoption of cloud-based software. This can be attributed to improved cloud infrastructure and hosting parameters. However, the hardware segment is anticipated to observe the fastest growth rate during the forecast period. This is due to the growing demand for hardware optimized for machine learning, an increasing number of hardware providers, and technological development such as customized silicon chips with machine learning and artificial intelligence capabilities.
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Machine Learning Market (By Component: Hardware, Software, Services; By Enterprise Size: SMEs, Large Enterprises, By End-use: Healthcare, Law, BFSI, Advertising & Media, Retail, Agriculture, Automotive & Transportation, Manufacturing, Others) – Global Industry Analysis, Market Size, Opportunities And Forecast, 2019 - 2026
Based on the enterprise size, the global machine learning market is segmented into Small & Medium-sized Enterprises (SMEs) and large enterprises. In 2018, the large machine learning enterprise segment accounted for the largest share of the market. This can be attributed to the capability of investment and focus of large enterprises on connecting machine learning, deep learning, and optimization of decisions to deliver high business value. However, the adoption of machine learning is rapidly growing across small and medium-sized enterprises. This is majorly due to the cost-effective and easy deployment offered by service providers. Furthermore, the availability of options for deployment methods such as on-premise, cloud-based, or hybrid to easily scale-up pilot projects of small and medium-sized enterprises is likely to increase the demand for machine learning from SMEs.
Based on the end-use, the market is divided into healthcare, law, BFSI, advertising & media, retail, agriculture, automotive & transportation, manufacturing, and others. Advertising and media held the largest share of the market in 2018. However, healthcare is anticipated to observe significant growth and is expected to surpass advertising & media during the forecast period. This is due to broadening the application of machine learning technology in the healthcare industry such as the use of technology for better diagnosis and predicts the probability of death of the person. The law segment is witnessing the fastest growth in the coming years.
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Key players operating in the machine learning market are Baidu Inc.; Amazon Web Services, Inc.; FICO, Google Inc.; H2O.ai; International Business Machines Corporation; Intel Corporation; Hewlett Packard Enterprise Development LP; SAS Institute Inc.; Microsoft Corporation; Predictron Labs Ltd., and SAP SE.Some of the start-ups in the machine learning industry are DataRobot (Predictive analytics), Benevolent AI (Pharmaceuticals), Pony.ai (Autonomous vehicles), and SenseTime (Facial recognition). Partnerships or collaborations of service providers with end-use industries and focus on launching innovative products are the key strategies adopted by market players to expand their geographical reach or customer base.
Some of the key observations regarding the machine leaning industry include:
- In January 2020, the New York Institute of Finance and Google Cloud launched new machine learning for Trading Specialization. The Specialization is suited for analysts, those involved in investment management or portfolio management, day traders, and anyone interested in constructing effective trading strategies using machine learning. A new trading specialization available exclusively on the Coursera platform.
- In January 2020, Udacity launched a new Nanodegree program called Intro to machine learning with TensorFlow. The course includes advanced areas such as supervised and unsupervised learning, manipulating data, and deep learning and introduces learners to fundamentals of machine learning. TensorFlow is a deep learning framework, developed by Google, which is widely used for creating machine learning models.
- In May 2019, Microsoft launched three new services to simplify the machine learning process. This range of interface completely automates the process of creating models, training and deploying models, and to a new no-code visual interface for building to host Jupyter-style notebooks for advanced users.
Market Segmentation
Market By Component
- Hardware
- Software
- Services
By Enterprise Size
- SMEs
- Large Enterprises
By End-use
- Healthcare
- Law
- BFSI
- Advertising &Media
- Retail
- Agriculture
- Automotive &Transportation
- Manufacturing
- Others
By Geography
North America
- U.S.
- Canada
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Key Questions Answered in the Report
The report addresses key questions concerning the market evolution and overarching trends shaping global market growth. Some of the key questions answered in the report include-
- What is the overall structure of the market?
- What was the historical value and what is the forecasted value of the market?
- What are the key product level trends in the market?
- What are the market level trends in the market?
- Which of the market players are leading and what are their key differential strategies to retain their stronghold?
- Which are the most lucrative regions in the market space?
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TABLE OF CONTENT
CHAPTER 1. INDUSTRY OVERVIEW
1.1. Definition and Scope
1.1.1. Definition of Machine Learning
1.1.2. Market Segmentation
1.1.3. List of Abbreviations
1.2. Summary
1.2.1. Market Snapshot
1.2.2. Machine Learning Market By Component
1.2.2.1. Global Machine Learning Market Revenue and Growth Rate Comparison By Component(2015-2026)
1.2.2.2. Global Machine Learning Market Revenue Share By Component in 2018
1.2.2.3. Hardware
1.2.2.4. Software
1.2.2.5. Services
1.2.3. Machine Learning Market By Enterprise Size
1.2.3.1. Global Machine Learning Market Revenue and Growth Rate Comparison By Enterprise Size (2015-2026)
1.2.3.2. Global Machine Learning Market Revenue Share By Enterprise Size in 2018
1.2.3.3. SMEs
1.2.3.4. Large Enterprises
1.2.4. Machine Learning Market By End-use
1.2.4.1. Global Machine Learning Market Revenue and Growth Rate Comparison By End-use(2015-2026)
1.2.4.2. Global Machine Learning Market Revenue Share By End-use in 2018
1.2.4.3. Healthcare
1.2.4.4. Law
1.2.4.5. BFSI
1.2.4.6. Advertising &Media
1.2.4.7. Retail
1.2.4.8. Agriculture
1.2.4.9. Automotive &Transportation
1.2.4.10. Manufacturing
1.2.4.11. Others
1.2.5. Machine Learning Market By Geography
1.2.5.1. Global Machine Learning Market Revenue and Growth Rate Comparison by Geography (2015-2026)
1.2.5.2. North America Machine Learning Market Revenue and Growth Rate(2015-2026)
1.2.5.3. Europe Machine Learning Market Revenue and Growth Rate(2015-2026)
1.2.5.4. Asia-Pacific Machine Learning Market Revenue and Growth Rate(2015-2026)
1.2.5.5. Latin America Machine Learning Market Revenue and Growth Rate(2015-2026)
1.2.5.6. Middle East and Africa (MEA)Machine Learning Market Revenue and Growth Rate(2015-2026)
CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS
2.1. Market Drivers
2.2. Restraints and Challenges
2.3. Growth Opportunities
2.4. Porter’s Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitute
2.4.4. Threat of New Entrants
2.4.5. Degree of Competition
2.5. Value Chain Analysis
2.6. Cost Structure Analysis
2.6.1. Raw Material and Suppliers
2.6.2. Manufacturing Process Analysis
2.7. Regulatory Compliance
2.8. Competitive Landscape, 2018
2.8.1. Player Positioning Analysis
2.8.2. Key Strategies Adopted By Leading Players
CHAPTER 3. MANUFACTURING MACHINE LEARNING ANALYSIS
3.1. Capacity and Commercial Production Date of Global Machine Learning Major Manufacturers in 2018
3.2. Manufacturing Plants Distribution of Global Machine Learning Major Manufacturers in 2018
3.3. R&D Status and Manufacturing End-User of Global Machine Learning Major Manufacturers in 2018
3.4. Raw Materials End-Users Analysis of Global Machine Learning Major Manufacturers in 2018
CHAPTER 4. MACHINE LEARNING MARKET BY COMPONENT
4.1. Global Machine Learning Revenue By Component
4.2. Hardware
4.2.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
4.2.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
4.3. Software
4.3.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
4.3.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
4.4. Services
4.4.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
4.4.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
CHAPTER 5. MACHINE LEARNING MARKET BY ENTERPRISE SIZE
5.1. Global Machine Learning Revenue By Enterprise Size
5.2. SMEs
5.2.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
5.2.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
5.3. Large Enterprises
5.3.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
5.3.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
CHAPTER 6. MACHINE LEARNING MARKET BY END-USE
6.1. Global Machine Learning Revenue By End-use
6.2. Healthcare
6.2.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.2.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
6.3. Law
6.3.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.3.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
6.4. BFSI
6.4.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.4.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
6.5. Advertising & Media
6.5.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.5.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
6.6. Retail
6.6.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.6.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
6.7. Agriculture
6.7.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.7.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
6.8. Automotive &Transportation
6.8.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.8.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
6.9. Manufacturing
6.9.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.9.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
6.10. Others
6.10.1. Market Revenue and Growth Rate, 2015 - 2026 ($Million)
6.10.2. Market Revenue and Forecast, By Region, 2015 - 2026 ($Million)
CHAPTER 7. NORTH AMERICA MACHINE LEARNING MARKET BY COUNTRY
7.1. North America Machine Learning Market Revenue and Growth Rate, 2015 - 2026 ($Million)
7.2. North America Machine Learning Market Revenue Share Comparison, 2015 & 2026 (%)
7.3. U.S.
7.3.1. U.S. Machine Learning Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
7.3.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
7.3.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
7.4. Canada
7.4.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
7.4.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
7.4.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
CHAPTER 8. EUROPE SMART REFRIGERATOR MARKET BY COUNTRY
8.1. Europe Machine Learning Market Revenue and Growth Rate, 2015 - 2026 ($Million)
8.2. Europe Machine Learning Market Revenue Share Comparison, 2015 & 2026 (%)
8.3. UK
8.3.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
8.3.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
8.3.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
8.4. Germany
8.4.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
8.4.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
8.4.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
8.5. France
8.5.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
8.5.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
8.5.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
8.6. Spain
8.6.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
8.6.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
8.6.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
8.7. Rest of Europe
8.7.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
8.7.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
8.7.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
CHAPTER 9. ASIA-PACIFIC MACHINE LEARNING MARKET BY COUNTRY
9.1. Asia-Pacific Machine Learning Market Revenue and Growth Rate, 2015 - 2026 ($Million)
9.2. Asia-Pacific Machine Learning Market Revenue Share Comparison, 2015 & 2026 (%)
9.3. China
9.3.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.3.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
9.3.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
9.4. Japan
9.4.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.4.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
9.4.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
9.5. India
9.5.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.5.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
9.5.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
9.6. Australia
9.6.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.6.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
9.6.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
9.7. South Korea
9.7.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.7.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
9.7.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
9.8. Rest of Asia-Pacific
9.8.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
9.8.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
9.8.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
CHAPTER 10. LATIN AMERICA MACHINE LEARNING MARKET BY COUNTRY
10.1. Latin America Machine Learning Market Revenue and Growth Rate, 2015 - 2026 ($Million)
10.2. Latin America Machine Learning Market Revenue Share Comparison, 2015 & 2026 (%)
10.3. Brazil
10.3.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
10.3.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
10.3.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
10.4. Mexico
10.4.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
10.4.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
10.4.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
10.5. Rest of Latin America
10.5.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
10.5.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
10.5.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
CHAPTER 11. MIDDLE EAST & AFRICA MACHINE LEARNING MARKET BY COUNTRY
11.1. Middle East & Africa Machine Learning Market Revenue and Growth Rate, 2015 - 2026 ($Million)
11.2. Middle East & Africa Machine Learning Market Revenue Share Comparison, 2015 & 2026 (%)
11.3. GCC
11.3.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
11.3.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
11.3.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
11.4. South Africa
11.4.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
11.4.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
11.4.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
11.5. Rest of Middle East & Africa
11.5.1. Market Revenue and Forecast By Component, 2015 - 2026 ($Million)
11.5.2. Market Revenue and Forecast By Enterprise Size, 2015 - 2026 ($Million)
11.5.3. Market Revenue and Forecast By End-use, 2015 - 2026 ($Million)
CHAPTER 12. COMPANY PROFILE
12.1. Baidu Inc.
12.1.1. Company Snapshot
12.1.2. Overview
12.1.3. Financial Overview
12.1.4. Product Portfolio
12.1.5. Key Developments
12.1.6. Strategies
12.2. Amazon Web Services, Inc.
12.2.1. Company Snapshot
12.2.2. Overview
12.2.3. Financial Overview
12.2.4. Product Portfolio
12.2.5. Key Developments
12.2.6. Strategies
12.3. FICO
12.3.1. Company Snapshot
12.3.2. Overview
12.3.3. Financial Overview
12.3.4. Product Portfolio
12.3.5. Key Developments
12.3.6. Strategies
12.4. Google Inc.
12.4.1. Company Snapshot
12.4.2. Overview
12.4.3. Financial Overview
12.4.4. Product Portfolio
12.4.5. Key Developments
12.4.6. Strategies
12.5. H2O.ai
12.5.1. Company Snapshot
12.5.2. Overview
12.5.3. Financial Overview
12.5.4. Product Portfolio
12.5.5. Key Developments
12.5.6. Strategies
12.6. International Business Machines Corporation
12.6.1. Company Snapshot
12.6.2. Overview
12.6.3. Financial Overview
12.6.4. Product Portfolio
12.6.5. Key Developments
12.6.6. Strategies
12.7. Intel Corporation
12.7.1. Company Snapshot
12.7.2. Overview
12.7.3. Financial Overview
12.7.4. Product Portfolio
12.7.5. Key Developments
12.7.6. Strategies
12.8. Hewlett Packard Enterprise Development LP
12.8.1. Company Snapshot
12.8.2. Overview
12.8.3. Financial Overview
12.8.4. Product Portfolio
12.8.5. Key Developments
12.8.6. Strategies
12.9. SAS Institute Inc.
12.9.1. Company Snapshot
12.9.2. Overview
12.9.3. Financial Overview
12.9.4. Product Portfolio
12.9.5. Key Developments
12.9.6. Strategies
12.10. Microsoft Corporation
12.10.1. Company Snapshot
12.10.2. Overview
12.10.3. Financial Overview
12.10.4. Product Portfolio
12.10.5. Key Developments
12.10.6. Strategies
12.11. Predictron Labs Ltd.
12.11.1. Company Snapshot
12.11.2. Overview
12.11.3. Financial Overview
12.11.4. Product Portfolio
12.11.5. Key Developments
12.11.6. Strategies
12.12. SAP SE
12.12.1. Company Snapshot
12.12.2. Overview
12.12.3. Financial Overview
12.12.4. Product Portfolio
12.12.5. Key Developments
12.12.6. Strategies
12.13. Others
12.13.1. Company Snapshot
12.13.2. Overview
12.13.3. Financial Overview
12.13.4. Product Portfolio
12.13.5. Key Developments
12.13.6. Strategies
CHAPTER 13. RESEARCH APPROACH
13.1. Research Methodology
13.1.1. Initial Data Search
13.1.2. Secondary Research
13.1.3. Primary Research
13.2. Assumptions and Scope
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