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Deep Learning Market to Rise Beyond 65% CAGR to 2022 Led by Image Recognition

  (November 29, 2016)

PUNE, India, November 29, 2016 /PRNewswire/ --

The worldwide deep learning market is expected to be worth USD 1,772.9 million by 2022, growing at a CAGR of 65.3% between 2016 and 2022 while image recognition application holds the largest share of the market driven by the increasing adoption of Android, Windows, and iOS phones would further fuel the demand for the image recognition application. 

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Complete report on global deep learning market spread across 180 pages, profiling 11 companies and supported with 71 tables and 67 figures is now available at http://www.reportsnreports.com/reports/765404-deep-learning-market-by-application-image-recognition-signal-recognition-data-mining-offering-hardware-von-neumann-and-neuromorphic-chip-and-software-end-user-industry-and-geography-global-forecasts-to-2022.html .

The growth of the deep learning market can be attributed to the increasing demand for deep learning applications in different end-user industries such as automotive, media and advertising, finance, medical, aerospace and defense, and others. This market growth is further propelled by its usage in Big Data analytics. However, the increasing complexity in hardware due to the complex algorithm used in the deep learning technology restrains the growth of the market.

This report covers deep learning applications such as image recognition, signal recognition, data mining, and others. Image recognition holds the largest share of the deep learning market owing to its use in industries such as aerospace and defense, I.T. and telecom, and media and advertising. The image recognition market is growing with the advent and increasing use of technology in social media platforms such as Facebook, Instagram, and Flickr. The increasing adoption of Android, Windows, and iOS phones would further fuel the demand for the image recognition application in the deep learning market.

This report covers the hardware and software offering in the deep learning technology. Software holds the larger share of the deep learning market in the image recognition application because of the rising demand for image data analysis among online marketing and security and surveillance companies. For instance, in the security and surveillance industry, the image recognition technology is used for biometric face mapping, vehicle identification, and monitoring of public facilities to enhance indoor as well as outdoor security.

This report covers the deep learning market in regions including North America, Europe, Asia-Pacific, and Rest of the World (RoW). The market in North America is expected to grow at a high CAGR between 2016 and 2022. The major reason for the growth of the deep learning market in North America is the presence of major companies in the region offering deep learning solutions/platforms and hardware such as Google Inc. (U.S.), IBM Corp. (U.S.), Microsoft Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), Skymind (U.S, Hewlett Packard Enterprise (U.S.), Sensory Inc. (U.S.), General Vision Inc. (U.S.), Intel Corporation (U.S.), and NVIDIA Corporation (U.S.).

The companies that are profiled in the report are Google Inc. (U.S.), IBM Corp. (U.S.), Microsoft Corporation (U.S.), Qualcomm Technologies, Inc. (U.S.), Skymind (U.S.), Baidu, Inc. (China), Hewlett Packard Enterprise (U.S.), Sensory Inc. (U.S.), General Vision Inc. (U.S.), Intel Corporation (U.S.), and NVIDIA Corporation (U.S.). Order a copy of Deep Learning Market by Application (Image Recognition, Signal Recognition, Data Mining), Offering (Hardware (Von Neumann and Neuromorphic Chip), and Software), End-User Industry, and Geography - Global Forecasts to 2022 research report at http://www.reportsnreports.com/purchase.aspx?name=765404 .

The report includes in-depth competitive analysis of these key players in the deep learning market, with their company profiles, SWOT analysis, recent developments, and key market strategies. In the process of determining and verifying, the global deep learning market size for several segments and sub segments gathered through secondary research, extensive primary interviews were conducted with key people. In Tier 1 (20%), Tier 2 (55%) and Tier 3 (25%) companies were contacted for primary interviews. The interviews were conducted with various key people such as C level (50%), Director Level (25%) and others (25%) from various key organizations operating in the global deep learning market. The primary interviews were conducted worldwide covering regions such as North America (60%), APAC (10%), Europe (20%) and RoW (10%).

On a related note, another research on Machine Learning as a Service (MLaaS) Market Global Forecast to 2021 says, the need to enhance the decision-making capability of machines is driving the Machine Learning as a service (MLaaS) market. North America is projected to grow at the highest rate during the forecast period. The overall market is estimated to grow to USD 3,755.0 million by 2021, at a Compound Annual Growth Rate (CAGR) of 43.7% from 2016 to 2021. Companies like Microsoft, IBM, Google, Inc., AWS, Inc., BigML, Inc., FICO and HPE have been profiled in this 137 pages research report available at http://www.reportsnreports.com/reports/737661-machine-learning-as-a-service-mlaas-market-by-component-software-tools-services-organization-size-application-marketing-risk-analytics-fraud-detection-predictive-maintenance-network-analytics-service-st-to-2021.html .

Explore more reports on the IT & Telecommunication market at http://www.reportsnreports.com/market-research/information-technology/ .

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