Deep Learning Market Overview
Artificial intelligence is the ability of a system to think like humans, discover the meaning, and execute the tasks. Recent advancements in the AI domain have contributed to an invariable increase in the popularity of this technology across several industries, having impacted the healthcare industry at a significant scale. Machine learning is one of the essential concepts that has significantly driven progress in the development of artificial intelligence. It is a field of study imparting computers with the ability to think without being explicitly programmed.
The global deep learning market size is estimated to grow from USD 3.6 billion in 2023 to USD 34.5 billion by 2035, representing a CAGR of 21.9%
The exponential growth in the applications of machine learning can be attributed to multiple reasons. In addition to the advances in processing power of computing machines and the development of smarter algorithms, big data is considered to be one of the key drivers of growth in this segment. Big data is actively being explored across the healthcare and life science sectors in addition its applications in the existing banking and retail sectors.
The current deep learning market landscape features the presence of over 70 players that are actively engaged in offering deep learning technologies / services for the purpose of drug discovery. It is worth mentioning that majority of the small players (67%) prefer to operate as technology / software providers. A similar trend can be observed for mid-sized companies. In contrast, most of the very large players (83%) claim to operate as service provider in this domain.
Deep Learning Market Key Companies
Key Companies ivolved in deep learning market are Aegicare, Aiforia Technologies, Ardigen, Berg, Google, Huawei, Merative , Nference, Nvidia, Owkin, Phenomic AI, Pixel AI. Further, it is worth highlighting that big data has emerged as the primary driver for the implementation of advanced deep learning technologies for the purpose of drug discovery.The current deep learning market landscape features the presence of over 130 players that are actively engaged in offering deep learning technologies / services for the purpose of diagnostics.
Deep Learning Market Geographical Regions
Key Geographical Regions of Deep Learning Market are North America, Europe, Asia Pacific, Rest of the World. Majority of the small players (81%) offer image processing solutions using their deep learning technologies, followed by cloud-based solutions (65%). It is worth highlighting that biomarker identification services are predominantly offered by mid-sized players engaged in the deep learning domain.As per research by Roots analysis in 2023, the maximum revenue generation potential is likely to be associated with region 1, and this trend is unlikely to change in the foreseen future, as well.
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