According to Research for Markets, the Global Deep Learning Market is accounted for $1.95 billion in 2016 and is expected to reach $72.10 billion by 2023 growing at a CAGR of 67.4% during the forecast period. One of the major factors that will have a positive impact on the growth of this market includes the rising usage of deep learning technology among various industries such as automotive, advertisement, medical and others. Moreover, increasing acceptance of cloud based technology, high usage of deep learning in big data analytics, high R&D expansions for enhanced processing hardware for deep learning and rising applicability in healthcare and autonomous vehicles are fueling the market growth.
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However, rising difficulty in hardware owing to composite algorithm used in deep learning technology is acting as key barrier for the market. Moreover, the market has tremendous growth opportunity such as utilization of deep learning technology in smartphones and medical image analysis. On the other hand, setback in approval of neuromorphic technology for deep learning and development of algorithms’ at a faster pace when compared with its hardware.
Depending on application, data mining segment is anticipated to grow at a highest CAGR during the forecast period attributed to growing utilization of deep learning in cybersecurity and database systems and data analytics. By geography, North America commanded the largest market share due to the rising investments in neural networks and artificial intelligence.
Some of the key players in this market include General Vision Inc., Sensory Inc., Baidu Inc., Nvidia Corporation, Intel Corporation, Google Inc., Skymind, Qualcomm Technologies, Inc, Hewlett Packard Enterprise, Microsoft Corporation, IBM Corporation, Advanced Micro, Devices, Inc., Clarifai, Inc., HyperVerge and Entilic.
• Data Mining
• Image Recognition
• Signal Recognition
• Video Surveillance & Diagnostics
• Other Applications
Hardware Components Covered:
• Application-Specific Integration Circuit (ASIC)
• Graphics Processing Unit (GPU)
• Field Programmable Gate Array (FPGA)
• Central Processing Unit (CPU)
End Users Covered:
• Oil, Gas, & Energy
• Aerospace & Defense
• Media & Advertising
• IT & Telecom
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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