USD 24.13 bn growth in Machine Learning Market | 38.54% YOY growth achieved in 2021 | Technavio – PR Newswire

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  • March 14, 2022
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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.
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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 SummaryMarket 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 landscapeGeographic 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
About UsTechnavio 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.ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/SOURCE Technavio
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