Global Machine Learning Market 2023-2027

Global Machine Learning Market 2023-2027

Technavio has been monitoring the machine learning market and is forecast to grow by $56,493.47 mn during 2022-2027, accelerating at a CAGR of 47.81% during the forecast period. Our report on the machine learning market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the increasing adoption of cloud-based offerings, increasing use of machine learning in customer experience management, and increasing use of machine learning in predictive analytics.

Technavio's machine learning market is segmented as below:

By End-user

• BFSI
• Retail
• Telecommunications
• Healthcare
• Automotive and others

By Deployment

• Cloud-based
• On-premise

By Geographical Landscape

• North America
• Europe
• APAC
• Middle East and Africa
• South America

This study identifies the application of machine learning to IoT data as one of the prime reasons driving the machine learning market growth during the next few years. Also, increasing technology investments in retail industry and the growing number of acquisitions and partnerships will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the machine learning market covers the following areas:

• Machine learning market sizing
• Machine learning market forecast
• Machine learning market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading machine learning market vendors that include Alibaba Group Holding Ltd., Alphabet Inc., Altair Engineering Inc., Alteryx Inc., Amazon.com Inc., BigML Inc., Cisco Systems Inc., Fair Isaac Corp., H2O.ai Inc., Hewlett Packard Enterprise Co., Iflowsoft Solutions Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Netguru S.A, Salesforce.com Inc., SAP SE, SAS Institute Inc., TIBCO Software Inc., and Yottamine Analytics LLC. Also, the machine learning market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.