According to the latest report by IMARC Group, titled “Deep Learning Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global Deep Learning Market Size reached a value of US$ 12 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 84.8 Billion by 2027, exhibiting a CAGR of 39.8% during 2022-2027. Deep learning is a subset of machine learning that deals with training computers about the basic instincts of human beings. It allows the machine to solve complex problems even if the data is not well organized. With the help of deep learning, a computer algorithm learns to perform classification tasks by analyzing complex data directly. The algorithm performs a task repeatedly, continually tweaking it to improve the outcomes. Large amounts of unstructured data can be analyzed using deep learning algorithms to obtain relevant insights for the decision-making process.
Covid-19 Overview:
The COVID 19 pandemic positively affected the growth of the deep learning market, and it created unprecedented market opportunities for the leading companies. There was a significant surge in the adoption of this technology in the healthcare, automotive, and retail sector. Several countries adopted population surveillance methods to track COVID 19 cases, and such methods are likely to contribute to the demand for machine intelligence solutions in the future. In addition, many companies invested and deployed deep learning solutions during the COVID-19 pandemic to recover the initial impact of the mandatory lockdowns and drive business automation in the future.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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Global Deep Learning Market Trends:
The global market is majorly driven by significant growth in the information technology (IT) industry. In line with this, the increasing demand for deep learning due to its high computational ability and improved complex data-driven applications is significantly contributing to the market. Furthermore, the widespread adoption of big data analytics and artificial intelligence in customer-centric services is positively influencing the market across the globe. Besides this, the availability of a large amount of unstructured data due to rapid digitization across numerous organizations and the escalating need for high computing power in small and medium enterprises (SMEs) are catalyzing the market growth. Moreover, the growing use of cloud-based services has also increased the demand for deep learning solutions. Additionally, the widespread applications of deep learning in recent times for image/speech recognition, data analysis, language interpretations, and the rising number of robotic systems are providing an impetus to the market.
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Global Deep Learning Market 2022- 2027 Analysis and Segmentation:
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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