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USD 24.13 bn growth in Machine Learning Market | 38.54% YOY growth achieved in 2021

The increasing adoption of cloud-based offerings will be crucial in driving the growth of the market during the forecast period. Cloud-based solutions offer various benefits such as lower cost of computing, scalability, reliability, and high resource availability. The adoption of cloud computing also eliminates the need for dedicated IT support teams and reduces operating costs. Many such benefits are increasing the adoption of cloud-based solutions through as-a-service modes. These are driving the growth of the global machine learning market.

In addition, the increasing use of machine learning in customer experience management and the increasing use of machine learning in predictive analytics will propel market growth. However, factors such as shortage of skilled personnel, data privacy issues and regulations, and data integration issues will hamper the market growth.

Machine Learning Market: End-user Landscape

  • By end-users, the market is segmented by BFSI, retail, telecommunications, healthcare, and others.
  • The BFSI segment accounted for maximum revenue generation in the market.
  • The need for enhancing customer relations, risk management, workflows, and decision-making processes has increased the investments in machine learning by BFSI companies.
  • The market growth in the BFSI segment will be significant during the forecast period.

Machine Learning Market: Geographic Landscape

  • By geography, North America is going to have lucrative growth during the forecast period.
  • About 38% of the market’s overall growth is expected to originate from North America.
  • The growth in data generation from industries such as telecommunications, manufacturing, retail, and energy has increased the demand for machine learning solutions among businesses in the region.
  • Also, the high integration of machine learning with big data and IoT for real-time predictions is contributing to the growth of the regional market.
  • The US is the key market for machine learning in North America.
  • Market growth in this region will be slower than the growth of the market in APAC.

Companies Covered:

  • Alibaba Group Holding Ltd.
  • Alphabet Inc.
  • Amazon.com Inc.
  • Cisco Systems Inc.
  • Hewlett Packard Enterprise Co.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Salesforce.com Inc.
  • SAP SE
  • SAS Institute Inc.

Download Our Free Sample for highlights on other dominant players and major segments and regions in the market.

What our reports offer:

  • Market share assessments for the regional and country-level segments
  • Strategic recommendations for the new entrants
  • Covers market data for 2020, 2021, until 2025
  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

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Machine Learning Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 43.22%

Market growth 2021-2025

USD 24.13 billion

Market structure

Fragmented

YoY growth (%)

38.54

Regional analysis

North America, Europe, APAC, MEA, and South America

Performing market contribution

North America at 38%

Key consumer countries

US, China, UK, Germany, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Cisco Systems Inc., Hewlett Packard Enterprise Co., International Business Machines Corp., Microsoft Corp., Salesforce.com Inc., SAP SE, and SAS Institute Inc.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market outlook: Forecast for 2020 – 2025

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • BFSI – Market size and forecast 2020-2025
  • Retail – Market size and forecast 2020-2025
  • Telecommunications – Market size and forecast 2020-2025
  • Healthcare – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market opportunity by End-user

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • APAC – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Alibaba Group Holding Ltd.
  • Alphabet Inc.
  • Amazon.com Inc.
  • Cisco Systems Inc.
  • Hewlett Packard Enterprise Co.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Salesforce.com Inc.
  • SAP SE
  • SAS Institute Inc.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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