Machine Learning Market Trend, Share, Growth, Size, Trends, Forecast 2032
Machine Learning Market By Service (Professional Services And Managed Services), By Application (BFSI, Healthcare & Life Sciences, Retail, Telecommunication, Government & Defense, Manufacturing, And Energy & Utilities), And By Region: Global Industry Perspective, Comprehensive Analysis, And Forecast, 2024-2032
| Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
|---|---|---|---|
| USD 52.90 Billion | USD 870.30 Billion | 36.5% | 2023 |
Table Of Content
- Chapter 1. Preface
- 1.1. Report description and scope
- 1.2. Research scope
- 1.3. Research methodology
- 1.3.1. Market research process
- 1.3.2. Market research methodology
- Chapter 2. Executive Summary
- 2.1. Global Machine Learning Market, 2017 - 2024, (USD Billion)
- 2.2. Machine Learning Market: Market Snapshot
- Chapter 3. Global Machine Learning Market - Industry Analysis
- 3.1. Machine Learning Market: Market dynamics
- 3.2. Market Drivers
- 3.2.1. Technological Advancements
- 3.2.2. Proliferation in Data Generation
- 3.3. Restraints
- 3.3.1. Lack of Skilled Employees
- 3.4. Opportunity
- 3.4.1. Increasing Demand for Intelligent Business Processes
- 3.4.2. Increasing Adoption in Modern Applications
- 3.5. Challenges
- 3.5.1. Sensitive Data Security
- 3.5.2. Ethical Implications of the Algorithms Deployed
- 3.6. Porter's Five Forces Analysis
- 3.7. Market Attractiveness Analysis
- 3.7.1. Market attractiveness analysis by services segment
- 3.7.2. Market attractiveness analysis by verticals segment
- 3.7.3. Market attractiveness analysis by regional segment
- Chapter 4. Global Machine Learning Market - Competitive Landscape
- 4.1. Company Market share analysis, 2017 (Subject to data availability)
- Chapter 5. Global Machine Learning Market -Services Segment Analysis
- 5.1. Global Machine Learning Market revenue share, by services, 2017 & 2024
- 5.2. Global Machine Learning Market by Professional Services, 2015 - 2024 (USD Billion)
- 5.3. Global Machine Learning Market by Managed Services, 2015 - 2024 (USD Billion)
- Chapter 6. Global Machine Learning Market -Vertical Segment Analysis
- 6.1. Global Machine Learning Market revenue share, by vertical 2017 & 2024
- 6.2. Global Machine Learning Market by BFSI, 2015 - 2024(USD Billion)
- 6.3. Global Machine Learning Market by Healthcare and Life Science, 2015 - 2024(USD Billion)
- 6.4. Global Machine Learning Market by Retail, 2015 - 2024(USD Billion)
- 6.5. Global Machine Learning Market by Telecommunication, 2015 - 2024(USD Billion)
- 6.6. Global Machine Learning Market by Government and Defense, 2015 - 2024(USD Billion)
- 6.7. Global Machine Learning Market by Manufacturing, 2015 - 2024(USD Billion)
- 6.8. Global Machine Learning Market by Energy and Utilities, 2015 - 2024(USD Billion)
- 6.9. Global Machine Learning Market by Others, 2015 - 2024(USD Billion)
- Chapter 7. Global Machine Learning Market - Regional Analysis
- 7.1. Global Machine Learning Market: Regional overview
- 7.1.1. Global Machine Learning Market Revenue Share by region, 2017 and 2024
- 7.2. North America
- 7.2.1. North America Machine Learning Market, 2015 - 2024 (USD Billion)
- 7.2.2. North America Machine Learning Market revenue, by services, 2015 - 2024 (USD Billion)
- 7.2.3. North America Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.2.4. U.S.
- 7.2.4.1. U.S. Machine Learning Market revenue, by services , 2015 - 2024 (USD Billion)
- 7.2.4.2. U.S. Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.3. Europe
- 7.3.1. Europe Machine Learning Market, 2015 - 2024(USD Billion)
- 7.3.2. Europe Machine Learning Market revenue, by services , 2015 - 2024 (USD Billion)
- 7.3.3. Europe Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.3.4. U.K.
- 7.3.4.1. U.K. Machine Learning Market revenue, by services , 2015 - 2024 (USD Billion)
- 7.3.4.2. U.K. Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.3.5. France
- 7.3.5.1. France Machine Learning Market revenue, by services , 2015 - 2024 (USD Billion)
- 7.3.5.2. France Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.3.6. Germany
- 7.3.6.1. Germany Machine Learning Market revenue, by services , 2015 - 2024 (USD Billion)
- 7.3.6.2. Germany Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Asia-Pacific Machine Learning Market, 2015 - 2024 (USD Billion)
- 7.4.2. Asia-Pacific Machine Learning Market revenue, by services, 2015 - 2024 (USD Billion)
- 7.4.3. Asia-Pacific Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.4.4. China
- 7.4.4.1. China Machine Learning Market revenue, by services, 2015 - 2024 (USD Billion)
- 7.4.4.2. China Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.4.5. Japan
- 7.4.5.1. Japan Machine Learning Market revenue, by services, 2015 - 2024 (USD Billion)
- 7.4.5.2. Japan Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.4.6. India
- 7.4.6.1. India Machine Learning Market revenue, by services, 2015 - 2024 (USD Billion)
- 7.4.6.2. India Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.5. Latin America
- 7.5.1. Latin America Machine Learning Market, 2015 - 2024(USD Billion)
- 7.5.2. Latin America Machine Learning Market revenue, by services, 2015 - 2024 (USD Billion)
- 7.5.3. Latin America Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.5.4. Brazil
- 7.5.4.1. Brazil Machine Learning Market revenue, by services , 2015 - 2024 (USD Billion)
- 7.5.4.2. Brazil Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.6. Middle East & Africa
- 7.6.1. The Middle East & Africa Machine Learning Market, 2015 - 2024 (USD Billion)
- 7.6.2. The Middle East & Africa Machine Learning Market revenue, by services, 2015 - 2024 (USD Billion)
- 7.6.3. The Middle East & Africa Machine Learning Market revenue, by verticals, 2015 - 2024 (USD Billion)
- 7.1. Global Machine Learning Market: Regional overview
- Chapter 8. Company Profiles
- 8.1. International Business Machines Corporation
- 8.1.1. Overview
- 8.1.2. Financials
- 8.1.3. Product portfolio
- 8.1.4. Business strategy
- 8.1.5. Recent developments
- 8.2. Microsoft Corporation
- 8.2.1. Overview
- 8.2.2. Financials
- 8.2.3. Product portfolio
- 8.2.4. Business strategy
- 8.2.5. Recent developments
- 8.3. SAP SE
- 8.3.1. Overview
- 8.3.2. Financials
- 8.3.3. Product portfolio
- 8.3.4. Business strategy
- 8.3.5. Recent developments
- 8.4. Sas Institute Inc.
- 8.4.1. Overview
- 8.4.2. Financials
- 8.4.3. Product portfolio
- 8.4.4. Business strategy
- 8.4.5. Recent developments
- 8.5. Amazon Web Services, Inc.
- 8.5.1. Overview
- 8.5.2. Financials
- 8.5.3. Product portfolio
- 8.5.4. Business strategy
- 8.5.5. Recent development
- 8.6. Bigml, Inc.
- 8.6.1. Overview
- 8.6.2. Financials
- 8.6.3. Product portfolio
- 8.6.4. Business strategy
- 8.6.5. Recent developments
- 8.7. Google Inc.
- 8.7.1. Overview
- 8.7.2. Financials
- 8.7.3. Product portfolio
- 8.7.4. Business strategy
- 8.7.5. Recent developments
- 8.8. Fair Isaac Corporation
- 8.8.1. Overview
- 8.8.2. Financials
- 8.8.3. Product portfolio
- 8.8.4. Business strategy
- 8.8.5. Recent developments
- 8.9. Baidu, Inc.
- 8.9.1. Overview
- 8.9.2. Financials
- 8.9.3. Product portfolio
- 8.9.4. Business strategy
- 8.9.5. Recent developments
- 8.10. Hewlett Packard Enterprise Development Lp
- 8.10.1. Overview
- 8.10.2. Financials
- 8.10.3. Product portfolio
- 8.10.4. Business strategy
- 8.10.5. Recent developments
- 8.11. Intel Corporation
- 8.11.1. Overview
- 8.11.2. Financials
- 8.11.3. Product portfolio
- 8.11.4. Business strategy
- 8.11.5. Recent developments
- 8.12. H2o.ai
- 8.12.1. Overview
- 8.12.2. Financials
- 8.12.3. Product portfolio
- 8.12.4. Business strategy
- 8.12.5. Recent developments
- 8.1. International Business Machines Corporation
Table Of Figures
List of Figures
1. Global Machine Learning Market segmentation by services, vertical, and geography
2. Global Machine Learning Market, 2015 - 2024 (USD Billion)
3. Porter’s five forces analysis: Machine Learning Market
4. Global Machine Learning Market attractiveness, by services
5. Global Machine Learning Market attractiveness, by verticals
6. Global Machine Learning Market attractiveness, by region
7. Global Machine Learning Market revenue share, by services, 2017 & 2024
8. Global Machine Learning Market by professional services, 2015 - 2024(USD Billion)
9. Global Machine Learning Market by managed services, 2015 - 2024(USD Billion)
10. Global Machine Learning Market revenue share, by verticals 2017 & 2024
11. Global Machine Learning Market by BFSI, 2015 - 2024(USD Billion)
12. Global Machine Learning Market by healthcare and life science, 2015 – 2024 (USD Billion)
13. Global Machine Learning Market by retail, 2015 – 2024 (USD Billion)
14. Global Machine Learning Market by telecommunication, 2015 – 2024 (USD Billion)
15. Global Machine Learning Market by government and defense, 2015 – 2024 (USD Billion)
16. Global Machine Learning Market by manufacturing, 2015 – 2024 (USD Billion)
17. Global Machine Learning Market by energy and utilities, 2015 – 2024 (USD Billion)
18. Global Machine Learning Market by others, 2015 – 2024 (USD Billion)
19. Global Machine Learning Market revenue share, by region, 2017 - 2024
20. North America Machine Learning Market, 2015 - 2024, (USD Billion)
21. U.S. Machine Learning Market, 2015 - 2024, (USD Billion)
22. Europe Machine Learning Market, 2015 - 2024, (USD Billion)
23. U.K. Machine Learning Market, 2015 - 2024 (USD Billion)
24. France Machine Learning Market, 2015 - 2024 (USD Billion)
25. Germany Machine Learning Market, 2015 - 2024 (USD Billion)
26. Asia Pacific Machine Learning Market, 2015 - 2024(USD Billion)
27. China Machine Learning Market, 2015 - 2024 (USD Billion)
28. Japan Machine Learning Market, 2015 - 2024 (USD Billion)
29. India Machine Learning Market, 2015 - 2024 (USD Billion)
30. Latin America Machine Learning Market, 2015 - 2024 (USD Billion)
31. Brazil Machine Learning Market, 2015 - 2024 (USD Billion)
32. The Middle East & Africa Machine Learning Market, 2015 – 2024 (USD Billion)
Table Of Tables
List of Tables
1. Global Machine Learning Market snapshot
2. Drivers for Machine Learning Market: Impact analysis
3. Restraints of Machine Learning Market: Impact analysis
4. North America Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
5. North America Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
6. U.S. Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
7. U.S. Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
8. Europe Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
9. Europe Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
10. U.K. Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
11. U.K. Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
12. France Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
13. France Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
14. Germany Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
15. Germany Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
16. Asia-Pacific Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
17. Asia-Pacific Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
18. China Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
19. China Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
20. Japan Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
21. Japan Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
22. India Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
23. India Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
24. Latin America Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
25. Latin America Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
26. Brazil Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
27. Brazil Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
28. The Middle East & Africa Machine Learning Market revenue, by services, 2015 – 2024 (USD Billion)
29. The Middle East & Africa Machine Learning Market revenue, by verticals, 2015 – 2024 (USD Billion)
Methodology
FrequentlyAsked Questions
Escalating demand for Machine Learning as a Service (MLaaS) tool or machine learning as a vendor platform will create lucrative growth avenues for the market over the forthcoming years. Apart from this, machine learning facilitates activities like chat bots, image recognition, language translation, and predictive analytics. Additionally, it helps in simulating the human intelligence aspects like concept formation and problem solving. Since, a large number of machine learning programs are created and executed on cloud, massive use of the cloud services by various firms globally will facilitate the growth of machine learning market in the coming decade. Humungous use of machine learning programs in healthcare, BFSI, retail, defense, energy & utilities, Lifesciences, and telecommunications will provide lucrative growth opportunities to the market over the forthcoming years.
According to Zion market research report, Global Machine Learning market size earned around $52.90 Billion in 2023 and is expected to reach $870.30 Billion by 2032, with a projected CAGR of 36.5%.
North America is likely to make noteworthy contributions towards overall market revenue. The regional market growth over 2024-2032 can be credited to presence of key players in the countries like the U.S. In addition to this, massive funding of Machine Learning as a Service (MLaaS) tool in the region along with the lucrative use of machine learning tools in cognitive applications in the countries like the U.S. will push the growth of the market over the ensuing years. Apart from this, firms like USAA – a financial services firm serving U.S. military personnel- makes use of machine learning algorithms.
The key players profiled in the report include Intel Corporation, Microsoft Corporation, SAP SE, Hewlett Packard Enterprise Development Lp, International Business Machines Corporation, Baidu Inc., Sas Institute Inc., Bigml Inc., Amazon Web Services Inc., Google Inc., Fair Isaac Corporation, and H2o.ai.
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