Machine Learning Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Enterprise Size, By End-use (Advertising & Media, Healthcare, Retail), By Region, And Segment Forecasts, 2023 - 2030

Machine Learning Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Enterprise Size, By End-use (Advertising & Media, Healthcare, Retail), By Region, And Segment Forecasts, 2023 - 2030


Machine Learning Market Growth & Trends


The global machine learning market size is anticipated to reach USD 419.94 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 34.8% from 2023 to 2030. The market is experiencing continuous growth, driven by the increasing demand for AI-driven solutions across industries. It is expected to expand further as more organizations recognize the potential of machine learning and invest in its applications. The growing deployment of Edge AI is responsible for market growth. Edge AI reduces the reliance on cloud computing and provides faster response times, improved privacy, and bandwidth efficiency.

Numerous companies are using machine learning (ML) in various industries to boost productivity, streamline processes, and facilitate decision-making. ML is used for personalized product recommendations, demand forecasting, fraud detection, inventory management, and pricing optimization. For instance, Netflix, Inc., a U.S.-based media-streaming and video-rental company, uses machine learning to enhance the customer experience. The company has long been using machine learning algorithms to personalize its viewer recommendations. E-commerce firms like Amazon.com, Inc, a U.S.-based multinational technology company, also uses ML for recommendation to boost sales.

Developments such as fine-tuned personalization, hyper-targeting, search engine optimization (SEO), no-code environments, self-learning bots, and others are expected to impact the machine-learning landscape significantly. These developments are responsible for the continuous evolution of machine learning applications, driven by the demand for personalized experiences, improved website rankings, efficient marketing strategies, accessibility, and intelligent automation.

For instance, Google LLC has significantly advanced machine learning, specifically in computer vision. Google's research division, Google Research, has developed and deployed machine learning models such as the Inception series and the EfficientDet object detection model. These models have significantly enhanced the accuracy and performance of computer vision tasks, including image classification, object detection, and image segmentation.

Many industries in North America have adopted machine learning to gain insights from massive data and improve business operations. Machine learning is used in various sectors such as finance, healthcare, retail, manufacturing, and technology to perform tasks such as fraud detection, personalized marketing, predictive maintenance, and automated customer service. The growing adoption of cloud-based machine learning services in North America propels the market’s growth. The rise of cloud computing platforms, such as Amazon Web Services, Microsoft Azure, and Google Cloud, has made it easier for businesses to access and deploy machine learning tools and infrastructure.

Machine Learning Market Report Highlights

  • The emergence of connected AI is anticipated to make it possible for ML algorithms to learn based on newly available information continuously. These developments are expected to propel the market expansion in the upcoming years. As these technologies continue to advance and mature, they are expected to have a transformative impact on various industries, shaping the way businesses operate, make decisions, and deliver value to customers
  • The advertising & media segment dominated the market with a revenue share of 20.0% in 2022. The advertising and media sector accounted for the largest share in 2022 owing to capabilities such as buyer’s optimization, data processing, and analysis provided by the technology
  • Factors such as advancements in computing power, increased data generation, and the need for automated decision-making drive the demand for machine learning solutions across various industries
  • The Asia Pacific region is expected to grow at the fastest CAGR of 43.5% from 2023 to 2030. The region's large population, diverse industries, and growing investment in technological infrastructure all contribute to market growth
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Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Information Analysis
1.3.2 Market Formulation & Data Visualization
1.3.3 Data Validation & Publishing
1.4 Research Scope And Assumptions
1.4.1 List Of Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Machine Learning Market Variables And Trends
3.1 Market Lineage Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.4 Market Dynamics
3.4.1 Market Driver Impact Analysis
3.4.1.1 Increasing Applications Of Ml Algorithm
3.4.1.2 Rising Adoption Of Advanced Technologies
3.4.2 Market Restraint Impact Analysis
3.4.2.1 Lack Of Skilled Labor
3.4.3 Industry Challenges
3.4.4 Industry Opportunities
3.5 Industry Analysis Tools
3.5.1 Porter’s Analysis
3.5.2 Macroeconomic Analysis
3.6 COVID-19 Impact Analysis
Chapter 4 Machine Learning Market: Component Estimates & Trend Analysis
4.1 Component Movement Analysis & Market Share, 2022 & 2030
4.2 Machine Learning Market Estimates And Forecast, By Component (USD Billion)
4.2.1 Hardware
4.2.2 Software
4.2.3 Services
Chapter 5 Machine Learning Market: Enterprise Size Estimates & Trend Analysis
5.1 Enterprise Size Movement Analysis & Market Share, 2022 & 2030
5.2 Machine Learning Market Estimates And Forecast, By Enterprise Size (USD Billion)
5.2.1 Smes
5.2.2 Large Enterprises
Chapter 6 Machine Learning Market: End-Use Estimates & Trend Analysis
6.1 End-use Movement Analysis & Market Share, 2022 & 2030
6.2 Machine Learning Market Estimates And Forecast, By End-use (USD Billion)
6.2.1 Healthcare
6.2.2 BFSI
6.2.3 Law
6.2.4 Retail
6.2.5 Advertising & Media
6.2.6 Automotive & Transportation
6.2.7 Agriculture
6.2.8 Manufacturing
6.2.9 Others
Chapter 7 Machine Learning: Regional Outlook Estimates & Trend Analysis
7.1 Machine Learning Market: Regional Outlook
7.2 North America
7.2.1 North America Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.2.2 U.S.
7.2.2.1 U.S. Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.2.3 Canada
7.2.3.1 Canada Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.3 Europe
7.3.1 Europe Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.3.2 Germany
7.3.2.1 Germany. Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.3.3 UK
7.3.3.1 UK Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.3.4 France
7.3.4.1 France Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.4 Asia Pacific
7.4.1 Asia Pacific Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.4.2 China
7.4.2.1 China Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.4.3 Japan
7.4.3.1 Japan Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.4.4 India
7.4.4.1 India Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.4.5 South Korea
7.4.5.1 South Korea Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.4.6 Australia
7.4.6.1 Australia Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.5 Latin America
7.5.1 Latin America Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.5.2 Brazil
7.5.2.1 Brazil Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.5.3 Mexico
7.5.3.1 Mexico Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.6 MEA
7.6.1 MEA Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.6.2 Kingdom Of Saudi Arabia
7.6.2.1 Kingdom Of Saudi Arabia Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.6.3 UAE
7.6.3.1 UAE Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
7.6.4 South Africa
7.6.4.1 South Africa Machine Learning Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
Chapter 8 Machine Learning Market - Competitive Landscape
8.1 Recent Developments & Impact Analysis, By Key Market Participants
8.2 Company Categorization
8.3 Participant’s Overview
8.4 Financial Performance
8.5 Product Benchmarking
8.6 Company Market Share Analysis, 2022
8.7 Company Heat Map Analysis
8.8 Strategy Mapping
8.8.1 Expansion
8.8.2 Mergers & Acquisition
8.8.3 Partnerships & Collaborations
8.8.4 New Product Launches
8.9 Strategy Mapping
8.9.1 Amazon Web Services, Inc.
8.9.2 Baidu Inc.
8.9.3 Google Inc.
8.9.4 H2o.ai
8.9.5 Hewlett Packard Enterprise Development Lp
8.9.6 Intel Corporation
8.9.7 International Business Machines Corporation
8.9.8 Microsoft Corporation
8.9.9 Sas Institute Inc.
8.9.10 Sap Se

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