Aarkstore Enterprise announced latest Market Research Report Titled " Global Machine learning market is expected to USD 13.5 Bn by 2023"

The Global machine learning market is projected to expand at a CAGR of 39.6% and is expected to be worth USD 13.5 Bn by 2023. With the generation of massive volumes of data across industries, data analytics is crucial to the success of businesses, leading to the rise of machine learning. Apart from this, the rapid evolution and increased use of Artificial intelligence (AI), development of new robust data models and associated algorithms, and a growing number of start-ups have given an impetus to the expansion of the global machine learning market.

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Segmentation based on deployment

Cloud deployment is expected to expand at the highest CAGR (42.6%) during the 2018-2023 period, leading to a global revenue generation of USD 9.2 Bn by 2023.

Cloud deployment is highly favorable in the developed regions (North America and Europe), owing to extensive technological advancements and high rates of adoption. Machine learning through cloud deployment is less expensive in terms of operation, has convenient usage, and greater data storage capacities. On-premises deployment is mainly used in the developing regions of APAC and RoW (Latin America, and the Middle East and Africa).

Regional insights

The machine learning market in North America is expected to expand at a CAGR of 35.1% during the 2018-2023 period.
Asia-Pacific, on the other hand, will be the leading contributor to the global machine learning market, and is expected to contribute USD 3.55 Bn by 2023. Asia-Pacific region will witness the highest CAGR (46.1%) during the forecast period of 2018-2023.
The European ML market is expected to expand at a CAGR of 30.3% during the 2018-2023 period, contributing USD 2.3 Bn by 2023.

Major Players

Google
Microsoft Corporation
IBM Corporation
Apple
Amazon
Facebook
Salesforce
Baidu
Intel Corporation
SAP SE

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Category: Technology Market Research
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