The global deep learning market is proliferating rapidly, heading with increasing uses of DL capabilities in a number of applications. Rising applications of deep learning in weather and climate supercomputing sectors to augment NWP approaches, e.g., in resolving post-processing issues, drive market growth. Over the past couple of decades, the ability of NWP models in forecast prediction has continuously improved.
With DL intervention, contemporary global NWP models are not only been able to predict the synoptic-scale weather pattern for several days but also have reached remarkable accuracy in forecasting end-user-relevant meteorological quantities such as regional-scale precipitation events. This further presage that deep learning would soon replace significant elements of a major NWP model, escalating the market growth.
Besides, cloud, communications, and media would scale up and accelerate deep learning market trends. In this regard, Market Research Future (MRFR) asserts that the global deep learning market is expected to grow at a 30.87% CAGR throughout the assessment period (2017 -2023). The increasing adoption of cloud-based services and large-scale generation of unstructured data push the market growth.
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Global Deep Learning Market Segments
The deep learning market forecast is segmented into components, applications, end-users, and regions. The component segment is sub-segmented into hardware, software, and services. The hardware sub-segment is further bifurcated into processor, memory, network, and others. The sub-segment service is further bifurcated into installation, training, support & maintenance, and others.
The application segment is sub-segmented into image recognition, data mining, signal recognition, and others. The end-user segment is sub-segmented into manufacturing, security, retail, media & entertainment, automotive, BFSI, healthcare, agriculture, and others. By regions, the market is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
Global Deep Learning Market - Regional Analysis
North America heads the global deep learning market with substantial investments transpired by key players in the development of AI technology platforms. Additionally, the growing adoption of deep learning models in applications, such as image recognition, voice & image recognition, data mining, signal recognition, and diagnostics, influences the market growth. Moreover, increasing R&D investments and rising digital transformation in various businesses in the region push the market demand further.
The Asia Pacific region seizes the second-largest share in the global deep learning market. Factors such as the growing development and penetration of deep learning technology in healthcare and environment monitoring drive the deep learning market growth.
Furthermore, the proliferation of digitization and the spurring rise in the image recognition segment influence the region’s deep learning market share. Some of the major deep learning market trends include rising foreign investments and deep learning implementations for voice, image, and signal recognition applications.
The deep learning market is growing briskly in Europe, witnessing the rapid adoption of these capabilities in healthcare diagnostics purposes. The augmenting uptake of deep learning capabilities by the European governments for surveillance, fraud detection, and data mining purposes offers significant deep learning market opportunities. Furthermore, the presence of various notable players and large deployments across the industries in the region boost the regional market growth.
Global Deep Learning Market - Competitive Analysis
The market appears highly competitive and fragmented due to the presence of several well-established players. These players adopt strategic approaches such as mergers & acquisitions, collaboration, innovation, and brand reinforcement to gain a larger competitive share. They make substantial investments to drive the development of reliable, leading-edge solutions and services and expansion plans.
Major Players:
Players active in the deep learning market include Intel Corporation (USA), Samsung Electronics Co Ltd (South Korea), Amazon Inc. (USA), Sensory Inc. (USA), Xilinx Inc. (USA), Micron Technology (USA), Mellanox Technologies (USA), Adapteva, Inc. (USA), Google LLC (USA), NVIDIA Corporation (USA), Baidu Inc (China), Qualcomm Technologies Inc. (USA), Advanced Micro Devices Inc. (USA), Facebook (USA), IBM Corporation (USA), Tenstorrent (Canada), and Microsoft Corporation (USA), among others.
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Industry/Innovation/Related News:
March 16, 2021 ---- Deci, a leading deep learning company building the next generation of AI, announced a strategic business and technology development collaboration with Intel Corporation to optimize DL inference on Intel Architecture (IA) CPUs. The Intel Ignite start-up accelerator, as one of the first companies to participate, Deci would now work with Intel to deploy innovative AI technologies to mutual customers.
The collaboration would lead to a significant step towards enabling deep learning inference at scale on Intel CPUs, reducing costs & latency, and enabling new deep learning inference applications.
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