The Machine learning Market is US$ 1.29 billion in 2016 and is estimated to reach US$ 39.987 billion by 2028. The machine learning market is anticipated to grow at a very high CAGR of 49.7% between 2022and 2028.The Machine learning market has experienced high growth and adoption rate in the last few years and is also expected to experience a significant growth and adoption rate in years to come. One of the major reason for high adoption of machine learning is the ease of availability of massive amount of customer data with the aid of various supportive technologies. Machine learning is a branch of artificial intelligence that enables machine to develop the ability for self-learning and adaption through experience without being explicitly programmed. It is considered as a method of data analysis that automates analytical model building. Machine learning have been present from decades but not been widely used due to lack of big data it requires for processing. The market for machine learning is highly consolidated one with the top ten companies accounting for approximately 75% of the market share.

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Powerful sensors and automatic data capture tools to drive more advances in machine learning arena

The uniformity of results obtained when employed a programmed process gives better opportunity for an organization to achieve higher efficiency as compared to human interactions as such instances. In addition, handling organization data using a software service proves cheaper, efficient and secure than appointing personnel to maintain it. Increasing volume of data will lead to more complexities in storing, maintain and other data operations. These tools can thus be ideally the best technique to reduce complexity in data operation.

In today’s world, data generated or processed for various purposes is exploding and manual entries of such huge amounts of data into the computer system could prove time inefficient and in effective with too many human errors. Rather an intelligent tool, that can on its own capture the required data from the product and store it in the computer in the digital form would prove faster, error-free and time-efficient for the end-user majorly in document processing applications.

Over the last several decades, enterprises have depend greatly on analytics to provide them with competitive advantage and enable them to be more effective. But, enterprises now wants real time analytics and the capability to transform data into actionable insight. With the universality of data and the apparently vast scalability of cloud-based compute power, machine learning has become a huge trend across industries from last two years. Most of the pilot projects have been conducted in the year 2016 and the industry has already started adopting the real machine learning application.

The report segments the global Machine Learning market as follows:

·        Global Machine Learning Market – By Solution

• Software
• Services

·        Global Machine Learning Market – By Deployment Type

• Cloud/MLaaS
• On-Premise

·        Global Machine Learning Market – By End-User

• BFSI
  • Fraud & Risk Management
  • Predictive Customer Analytics
  • Algorithm Trading
  • Others
• Retail

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• Customer Experience & Insight
• Supply & Demand Planning
• Others

• Healthcare
  • Diagnosis and Treatment Systems
  • Image Analytics & Diagnosis
  • Others
• Manufacturing
  • Predictive Maintenance
  • Supply Chain Management
• Government
  • Fraud & Improper Payments
  • Public Safety & Security
• Others

·        Global Machine Learning Market – By Geography

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • K
  • Rest of Europe
• Asia Pacific (APAC)
  • Japan
  • China
  • India
  • Australia

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