Growing use of deep learning systems in various industries and rapid adoption of AI, cloud-based technology and big data analytics are some key factors expected to drive global market revenue growth.
Growing use of deep learning systems in various industries and rapid adoption of AI, cloud-based technology and big data analytics are some key factors expected to drive global market revenue growth
According to Emergen Research, the global deep learning system market size was USD 6.59 billion in 2020 and is expected to reach USD 93.34 billion in 2028 and register a revenue CAGR of 39.1% during the forecast period, 2021-2028.
Market Dynamics:
Key factors providing impetus to the global deep learning system market revenue growth are rapid adoption of artificial intelligence (AI) and cloud-based technologies, increasing applications of deep learning in big data analytics, rapid digitization in a wide range of industries including banking & financial services, healthcare, retail, manufacturing, automotive, logistics, and education, and increasing adoption of deep learning systems. Deep learning, also referred to as deep structured learning, is a sub-field of machine learning based on artificial neural networks, which mimic the human brain through data inputs and recognize the key elements within the data accurately.
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Deep neural networks consist of multiple layers of interconnected nodes that aid in data gathering and making accurate predictions. Common use cases of deep learning are object detection, image interpretation & classification, automatic translation, natural language processing. Deep learning technology finds application in autonomous cars and enables vehicles to identify stop signs and differentiate between objects from pedestrians. The technology is also gaining traction in the defense & aerospace industry, as it helps develop intelligent infrastructure models, monitor traffic rate, and manage large volumes of data generated from multiple sensors.
The global deep learning system market revenue growth is further driven by factors such as rising volumes of complex data, growing need for advanced data processing capabilities, and increasing applications of deep learning architectures such as deep neural networks, deep reinforcement learning, and convolutional neural networks in areas including speech & facial recognition, natural language processing, machine automation, medical image analysis, self-driving cars, online transactions, fraud detection, and virtual assistants.
COVID-19 Impact Analysis:
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Image Recognition Segment Accounted for Largest Revenue Share in 2020:
. The image recognition segment dominated other segments in terms of revenue share in the global market in 2020. Rising demand for deep learning systems for pattern recognition, facial recognition, object recognition, optical character recognition, code recognition, and digital image processing is one of the major factors driving revenue growth of this segment. Furthermore, increasing use of deep learning software in the medical imaging field for accurate interpretation of medical images from computed tomography, ultrasound scans, and Magnetic Resonance Imaging (MRI) is expected to drive this segment’s revenue growth over the forecast period.
Healthcare Segment to Account for Fastest Revenue CAGR:
The security segment is expected to register the fastest revenue growth rate in the global market over the forecast period. Increasing applications of deep learning in security solutions, rising focus of government and private agencies on reinforcement of the cybersecurity ecosystem, and increasing incidences of cyberattacks in organizations are among the key factors contributing to revenue growth of this segment.
North America Accounted for Largest Revenue Share in 2020:
Among regional markets, the North America deep learning system market accounted for the largest revenue share in the global market in 2020. Rapid digitization in numerous industries, increasing adoption of AI and cloud-based technologies in the banking & financial services, retail, manufacturing, healthcare, automotive, and education industries, and introduction of next-generation deep learning software and systems are among the major factors supporting the North America market revenue growth. Increasing volumes of complex and unstructured data, rising need for advanced data processing solutions, and presence of key market players in the region, including Google LLC, IBM Corporation, and Amazon Web Services Inc., are some other factors expected to further boost the regional market revenue growth.
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Major Companies in the Global Deep Learning System Market Include:
- Google LLC
- Intel Corporation
- IBM Corporation
- Amazon Web Services Inc.
- Microsoft Corporation
- Qualcomm
- Micron Technology Inc.
- Oracle Corporation
- Nvidia Corporation
- Sensory Inc.
- Xilinx
- Graphcore
- Mythic Inc.
- Koniku Inc.
- Adapteva
For the purpose of this report, Emergen Research has segmented the global deep learning system market on the basis of product, application, end-use, and region:
Product Outlook (Revenue, USD Billion; 2018–2028)
- Software
- Solution (Software Framework/SDK)
- Platform/API
- Hardware
- Processor
- Network
- Memory
- Services
- Training
- Installation
- Support & Maintenance
Application Outlook (Revenue, USD Billion; 2018–2028)
- Signal Recognition
- Image Recognition
- Data Mining
- Others
End-use Outlook (Revenue, USD Billion; 2018–2028)
- Manufacturing
- Healthcare
- Agriculture
- Automotive
- Retail
- Security
- Human Resources
- Law
- Marketing
- Fintech
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Region Outlook (Revenue, USD Billion; 2018-2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- U.A.E.
- South Africa
- Turkey
- Rest of Middle East & Africa
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