NEW YORK, July 13, 2023 /PRNewswire/ -- The machine learning market size is estimated to grow by USD 56,493.47 million from 2022 to 2027. The market will progress at a CAGR of 47.81%, according to Technavio. The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including 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 Download a Sample Report Now!
Machine learning market Insights -
- Vendors: 15+, Including 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, among others
- Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
- Segments: End-user (BFSI, Retail, Telecommunications, Healthcare, and Automotive and others), Deployment (Cloud-based and On-premise), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)
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Major Driver – The market is driven by the increasing adoption of cloud-based offerings. Cloud-based services solutions offer various benefits such as minimal cost for computing, network and storage infrastructure, scalability, reliability, and high resource availability. Cloud-based solutions eliminate the need for dedicated IT support teams and hence reduce operating costs.
Many such benefits are increasing the adoption of cloud-based offerings among enterprises. Machine learning solutions help enterprises to scale up the production workload of their projects over the cloud with the increase in data. Thus, the increased adoption of cloud-based offerings will drive the growth of the market during the forecast period.
Leading Trend – The growing number of acquisitions and partnerships is identified as the key trend in the market.
Major Challenge – The shortage of skilled professionals is identified as the major challenge hindering market growth.
Drivers, Trends, and Challenges have an impact on market dynamics, which can impact businesses. Find more insights in a sample report!
The machine learning market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.
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What are the key data covered in this machine learning market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the machine learning market between 2023 and 2027
- Precise estimation of the size of the machine learning market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the machine learning market across North America, Europe, APAC, Middle East and Africa, and South America
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of machine learning market vendors
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Table of Contents
1 Executive Summary
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
4 Historic Market Size
- 4.1 Global machine learning market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global machine learning market 2017 - 2021 ($ million)
- 4.2 End-User Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – End-User Segment 2017 - 2021 ($ million)
- 4.3 Deployment Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by End-user
- 6.1 Market segments
- Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)
- 6.2 Comparison by End-user
- Exhibit 32: Chart on Comparison by End-user
- Exhibit 33: Data Table on Comparison by End-user
- 6.8 Market opportunity by End-user
- Exhibit 54: Market opportunity by End-user ($ million)
- Exhibit 55: Data Table on Market opportunity by End-user ($ million)
7 Market Segmentation by Deployment
- 7.1 Market segments
- Exhibit 56: Chart on Deployment - Market share 2022-2027 (%)
- Exhibit 57: Data Table on Deployment - Market share 2022-2027 (%)
- 7.2 Comparison by Deployment
- Exhibit 58: Chart on Comparison by Deployment
- Exhibit 59: Data Table on Comparison by Deployment
- 7.5 Market opportunity by Deployment
- Exhibit 68: Market opportunity by Deployment ($ million)
- Exhibit 69: Data Table on Market opportunity by Deployment ($ million)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 71: Chart on Market share by geography 2022-2027 (%)
- Exhibit 72: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 73: Chart on Geographic comparison
- Exhibit 74: Data Table on Geographic comparison
- 9.13 Market opportunity by geography
- Exhibit 115: Market opportunity by geography ($ million)
- Exhibit 116: Data Tables on Market opportunity by geography ($ million)
10 Drivers, Challenges, and Trends
- 10.3 Impact of drivers and challenges
- Exhibit 117: Impact of drivers and challenges in 2022 and 2027
11 Vendor Landscape
- 11.2 Vendor landscape
- Exhibit 118: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 119: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 120: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 121: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 122: Matrix on vendor position and classification
- 12.6 BigML Inc.
- Exhibit 137: BigML Inc. - Overview
- Exhibit 138: BigML Inc. - Product / Service
- Exhibit 139: BigML Inc. - Key offerings
- 12.9 H2O.ai Inc.
- Exhibit 150: H2O.ai Inc. - Overview
- Exhibit 151: H2O.ai Inc. - Product / Service
- Exhibit 152: H2O.ai Inc. - Key offerings
13 Appendix
- 13.2 Inclusions and exclusions checklist
- Exhibit 189: Inclusions checklist
- Exhibit 190: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 191: Currency conversion rates for US$
- 13.5 List of abbreviations
- Exhibit 195: List of abbreviations
SOURCE Technavio
