Global Machine Learning Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Machine Learning Market Insights, Ongoing Trends, End-use Applications, Market Size, Growth, and Forecast to 2029” is a research report on the target market, and is in process of completion at Trusted Business Insights. The report contains information and data, and inputs that have been verified and validated by experts in the target industry. The report presents a thorough study of annual revenues, historical data and information, key developments and strategies by major players that offer applications in the market. Besides critical data and information, the report includes key and ongoing trends, factors that driving market growth, factors that are potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries, as well as threats or challenges. The global treadmill ergometer market is segmented on the basis of application, end user, and region. Regions are further branched into key countries, and revenue shares and growth rates for each of the segment, and region as well as key countries have been provided in the final report.

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Machine Learning: Overview

Machine Learning (ML) is a sub-segment of Artificial Intelligence (AI) platform. This scientific concept studies computational learning, statistics and algorithms models of computers used to perform specific tasks without input of instructions, and recognition of patterns in AI. Basically, it explores and analysis construction of statistical data and algorithms and estimates forecasts on analyzed data. Various applications of ML include Optical Character Recognition (OCR), e-mail filtering, detection of network intruders, learning to rank, and computer vision.

Machine learning has paved its way across several applications. In advertising sector, ML is implemented to analyze customer’s behavior, which can help in improving advertising strategies. AI-driven marketing and advertising is based on usage of various models in order to automate and optimize, and to use data into appropriate actions. In case of banking, financial services, and insurance (BFSI), machine learning is used to manage process such as assets management and loan approval, among others. Security, and management and publishing of documents are among other applications of machine learning.

In the recent past, the scope of applications of machine learning technology has widened into certain new aspects. For instance, the US Defense department plans to implement machine learning in combat vehicles for predictive maintenance, to determine when and where the repair and maintenance is required. In stock market, this technology is being used to make estimations and projections about the market with approximately 60% accuracy level.

Dynamics: Global Machine Learning Market

The machine learning market in North America is expected to record dominant share and is projected to continue with its dominance over the 10-year forecast period. This can be attributable to increasing investments and higher adoption of machine learning technology by to numerous organizations in BFSI sector in the region. In 2019 for instance, New York-based financial company, JPMorgan Chase & Co., invested in a startup – Limeglass Ltd., which is a service provider of artificial intelligence, machine learning, and Natural Language Processing (NLP) to analyze organizational research. Limeglass Ltd. assists companies in developing technologically advanced products required for banking and finance.

The Asia Pacific machine learning market is projected to register highest growth rate over the 10-year forecast period. This is attributable to increasing adoption of advanced technologies including machine learning, along with a huge talent-base in countries such as China and India. In addition, emerging markets are projected to offer revenue opportunities by allowing entrance into these untapped markets and reach large consumer base that is willing to opt for AI-enabled products and services, which is further projected to drive Asia Pacific market growth. In 2018 for instance, NITI Aayog – a policy think-tank of the Government of India, in collaboration with a multinational technology company, Google LLC will train and incubate AI-based firms and start-ups in India.

Global Machine Learning Market Segmentation:

Segmentation by Component:

Hardware
Software
Services

Segmentation by Enterprise Size:

Small and Medium Enterprises (SMEs)
Large Enterprises

Segmentation by End-use Industry:

Healthcare
BFSI
Law
Retail
Advertising & Media
Automotive & Transportation
Agriculture
Manufacturing
Others