North America Machine Learning Market Size, Share & Industry Trends Analysis Report By Enterprise Size (Large Enterprises, and SMEs), By Component (Services, Software, and Hardware), By End-use, By Country and Growth Forecast, 2023 - 2030
The North America Machine Learning Market would witness market growth of 35.7% CAGR during the forecast period (2023-2030).
Fintech companies are increasingly leveraging client data and applying AI and ML to a variety of applications across multiple channels to forecast, among other things, how customers' needs will change over time, which types of fraud have the best chance of attacking a system, what services will be helpful, etc.
Finance companies may eliminate manual labor by using machine learning-powered solutions to automate repetitive tasks via intelligent process automation, increasing business efficiency. Examples throughout the predicted period include chatbots, document automation, and gamification of staff training. Financial procedures are being automated via machine learning.
Financial institutions increasingly seek to engage with and service clients via digital channels after the COVID-19 pandemic. The market is seeing an increase in chatbots, account opening, managing support, and technical assistance, among other things. Posh. Tech, Spixii, and other fintech businesses provide banks with intelligent chatbots for crucial customer-facing tasks.
The development of ML solutions has been accelerated in North America owing to the region's robust innovation ecosystem, supported by strategic federal investments in cutting-edge technology and brilliant scientists and entrepreneurs from top research institutions worldwide. Additionally, 5G, IoT, and linked gadgets have proliferated in the area. Consequently, communications service providers (CSPs) must effectively handle the increasing complexity via network slicing, virtualization, new use cases, and service needs. The Canadian government has funded eHealth initiatives like the First Ministers' Agreements ever since the 1997 Federal Budget. The regional market expansion is predicted to be supported by all of these factors.
The US market dominated the North America Machine Learning Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $101.6 billion by 2030. The Canada market is poised to grow at a CAGR of 38.8% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 37.6% during (2023 - 2030).
Based on Enterprise Size, the market is segmented into Large Enterprises, and SMEs. Based on Component, the market is segmented into Services, Software, and Hardware. Based on End-use, the market is segmented into Advertising & Media, BFSI, Automotive & Transportation, Manufacturing, Agriculture, Retail, Healthcare, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), Baidu, Inc., Google LLC (Alphabet Inc.), H2O.ai, Inc., Hewlett-Packard enterprise Company (HP Development Company L.P.), Intel Corporation, IBM Corporation, Microsoft Corporation, SAS Institute, Inc., SAP SE
Scope of the Study
Market Segments covered in the Report:
By Enterprise Size
- Large Enterprises
- SMEs
- Services
- Software
- Hardware
- Advertising & Media
- BFSI
- Automotive & Transportation
- Manufacturing
- Agriculture
- Retail
- Healthcare
- Others
- US
- Canada
- Mexico
- Rest of North America
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Baidu, Inc.
- Google LLC (Alphabet Inc.)
- H2O.ai, Inc.
- Hewlett-Packard enterprise Company (HP Development Company L.P.)
- Intel Corporation
- IBM Corporation
- Microsoft Corporation
- SAS Institute, Inc.
- SAP SE
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- Chapter 1. Market Scope & Methodology
- 1.1 Market Definition
- 1.2 Objectives
- 1.3 Market Scope
- 1.4 Segmentation
- 1.4.1 North America Machine Learning Market, by Enterprise Size
- 1.4.2 North America Machine Learning Market, by Component
- 1.4.3 North America Machine Learning Market, by End-use
- 1.4.4 North America Machine Learning Market, by Country
- 1.5 Methodology for the research
- Chapter 2. Market at a Glance
- 2.1 Key Highlights
- Chapter 3. Market Overview
- 3.1 Introduction
- 3.1.1 Overview
- 3.1.1.1 Market Composition and Scenario
- 3.2 Key Factors Impacting the Market
- 3.2.1 Market Drivers
- 3.2.2 Market Restraints
- Chapter 4. Competition Analysis - Global
- 4.1 KBV Cardinal Matrix
- 4.2 Recent Industry Wide Strategic Developments
- 4.2.1 Partnerships, Collaborations and Agreements
- 4.2.2 Product Launches and Product Expansions
- 4.2.3 Acquisition and Mergers
- 4.3 Market Share Analysis, 2021
- 4.4 Top Winning Strategies
- 4.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
- 4.4.2 Key Strategic Move: (Partnerships, Collaborations & Agreements: 2019, Feb – 2023, Jun) Leading Players
- 4.5 Porter Five Forces Analysis
- Chapter 5. North America Machine Learning Market by Enterprise Size
- 5.1 North America Large Enterprises Market by Country
- 5.2 North America SMEs Market by Country
- Chapter 6. North America Machine Learning Market by Component
- 6.1 North America Services Market by Country
- 6.2 North America Software Market by Country
- 6.3 North America Hardware Market by Country
- Chapter 7. North America Machine Learning Market by End-use
- 7.1 North America Advertising & Media Market by Country
- 7.2 North America BFSI Market by Country
- 7.3 North America Automotive & Transportation Market by Country
- 7.4 North America Manufacturing Market by Country
- 7.5 North America Agriculture Market by Country
- 7.6 North America Retail Market by Country
- 7.7 North America Healthcare Market by Country
- 7.8 North America Others Market by Country
- Chapter 8. North America Machine Learning Market by Country
- 8.1 US Machine Learning Market
- 8.1.1 US Machine Learning Market by Enterprise Size
- 8.1.2 US Machine Learning Market by Component
- 8.1.3 US Machine Learning Market by End-use
- 8.2 Canada Machine Learning Market
- 8.2.1 Canada Machine Learning Market by Enterprise Size
- 8.2.2 Canada Machine Learning Market by Component
- 8.2.3 Canada Machine Learning Market by End-use
- 8.3 Mexico Machine Learning Market
- 8.3.1 Mexico Machine Learning Market by Enterprise Size
- 8.3.2 Mexico Machine Learning Market by Component
- 8.3.3 Mexico Machine Learning Market by End-use
- 8.4 Rest of North America Machine Learning Market
- 8.4.1 Rest of North America Machine Learning Market by Enterprise Size
- 8.4.2 Rest of North America Machine Learning Market by Component
- 8.4.3 Rest of North America Machine Learning Market by End-use
- Chapter 9. Company Profiles
- 9.1 Amazon Web Services, Inc. (Amazon.com, Inc.)
- 9.1.1 Company Overview
- 9.1.2 Financial Analysis
- 9.1.3 Segmental Analysis
- 9.1.4 Recent strategies and developments:
- 9.1.4.1 Partnerships, Collaborations, and Agreements:
- 9.1.5 SWOT Analysis
- 9.2 Baidu, Inc.
- 9.2.1 Company Overview
- 9.2.2 Financial Analysis
- 9.2.3 Segmental Analysis
- 9.2.4 Research & Development Expenses
- 9.2.5 Recent Strategies and Developments:
- 9.2.5.1 Partnerships, Collaborations and Agreements:
- 9.2.6 SWOT Analysis
- 9.3 Google LLC (Alphabet Inc.)
- 9.3.1 Company Overview
- 9.3.2 Financial Analysis
- 9.3.3 Segmental and Regional Analysis
- 9.3.4 Research & Development Expense
- 9.3.5 Recent strategies and developments:
- 9.3.5.1 Partnerships, Collaborations, and Agreements:
- 9.3.5.2 Product Launches and Product Expansions:
- 9.3.6 SWOT Analysis
- 9.4 H2O.ai, Inc.
- 9.4.1 Company Overview
- 9.4.2 Recent strategies and developments:
- 9.4.2.1 Partnerships, Collaborations, and Agreements:
- 9.4.2.2 Product Launches and Product Expansions:
- 9.4.3 SWOT Analysis
- 9.5 Hewlett Packard Enterprise Company (HP Development Company L.P.)
- 9.5.1 Company Overview
- 9.5.2 Financial Analysis
- 9.5.3 Segmental and Regional Analysis
- 9.5.4 Research & Development Expense
- 9.5.5 Recent strategies and developments:
- 9.5.5.1 Partnerships, Collaborations, and Agreements:
- 9.5.5.2 Acquisition and Mergers:
- 9.5.6 SWOT Analysis
- 9.6 Intel Corporation
- 9.6.1 Company Overview
- 9.6.2 Financial Analysis
- 9.6.3 Segmental and Regional Analysis
- 9.6.4 Research & Development Expenses
- 9.6.5 Recent strategies and developments:
- 9.6.5.1 Partnerships, Collaborations, and Agreements:
- 9.6.5.2 Product Launches and Product Expansions:
- 9.6.6 SWOT Analysis
- 9.7 IBM Corporation
- 9.7.1 Company Overview
- 9.7.2 Financial Analysis
- 9.7.3 Regional & Segmental Analysis
- 9.7.4 Research & Development Expenses
- 9.7.5 Recent strategies and developments:
- 9.7.5.1 Partnerships, Collaborations, and Agreements:
- 9.7.5.2 Product Launches and Product Expansions:
- 9.7.6 SWOT Analysis
- 9.8 Microsoft Corporation
- 9.8.1 Company Overview
- 9.8.2 Financial Analysis
- 9.8.3 Segmental and Regional Analysis
- 9.8.4 Research & Development Expenses
- 9.8.5 Recent strategies and developments:
- 9.8.5.1 Partnerships, Collaborations, and Agreements:
- 9.8.5.2 Product Launches and Product Expansions:
- 9.8.6 SWOT Analysis
- 9.9 SAS Institute, Inc.
- 9.9.1 Company Overview
- 9.9.2 Recent strategies and developments:
- 9.9.2.1 Partnerships, Collaborations, and Agreements:
- 9.9.3 SWOT Analysis
- 9.10. SAP SE
- 9.10.1 Company Overview
- 9.10.2 Financial Analysis
- 9.10.3 Segmental and Regional Analysis
- 9.10.4 Research & Development Expense
- 9.10.5 Recent strategies and developments:
- 9.10.5.1 Partnerships, Collaborations, and Agreements:
- 9.10.6 SWOT Analysis
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