Machine Learning Market Size, Share, Growth Analysis, By Component(Solutions, Services), By Deployment(Cloud, On-Premise), By Enterprise Size(SMEs, Large Enterprise), By End User(Healthcare, Retail, IT, Telecommunication), By Region - Industry Forecast 2024-2031


Report ID: SQMIG45D2080 | Region: Global | Published Date: June, 2024
Pages: 157 |Tables: 122 |Figures: 77

Machine Learning Market Insights

Machine Learning Market size was valued at USD 6.91 billion in 2019 and is poised to grow from USD 9.95 billion in 2023 to USD 183.21 billion by 2031, growing at a CAGR of 44.1% in the forecast period (2024-2031).

With the use of machine learning (ML), which is a form of artificial intelligence (AI), software programs may anticipate outcomes more accurately without having to be explicitly instructed to do so. In order to forecast new output values, machine learning algorithms use past data as input. The global machine learning market is expected to observe a boost as machine learning will become a significant trend in security analytics as businesses use more sophisticated security frameworks. Cyber specialists struggle greatly to detect and analyze prospective cyber threats and attacks since there is so much data being produced and transmitted across many networks.

As cyber risks become more pervasive and sophisticated, with supply chain attacks increasing by 42% in the first quarter of 2021 in the US, affecting up to 7,000,000 individuals, machine-learning algorithms can help enterprises and security teams anticipate, detect, and recognize cyber-attacks more swiftly. For example, the promise of 5G wireless networking and edge computing for the digital revolution will be demonstrated, according to AT&T and IBM. Together, they have developed virtual environments that let business clients really feel the potential of AT&T connection when combined with IBM hybrid cloud and AI technologies. Businesses from all sectors, including the public sector, manufacturing, and financial services, can benefit from this collaboration to innovate quickly and securely and address issues plaguing several sectors at the moment, such as supply chain disruptions, cyber threats, ransomware, and the demand for frictionless services in the 5G era. This is expected to boost the global machine learning market during the forecast period.

US Machine Learning Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 6.91 billion

Largest Segment

Solutions

Fastest Growth

Solutions

Growth Rate

44.1% CAGR

Global Machine Learning Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

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Machine Learning Market Segmental Analysis

Global machine learning market is segmented based on the component, enterprise size, deployment, end-user, and region. Based on the component, the global machine learning market is segmented into solutions, and services. Based on enterprise size, the market is segmented into SMEs and large enterprises. Based on deployment, the global machine learning market is segmented into cloud and on-premise. Based on end-users, the global machine learning market is segmented as healthcare, retail, IT and telecommunications, banking, financial services and insurance (BFSI), automotive & transportation, advertising & media, manufacturing, and others (energy & utilities, etc.). Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.

Machine Learning Market Analysis by Component

The solutions segment had the significant share in the global machine learning market in 2021 and is predicted to continue to rule in the years to come. These solutions aid academics and data scientists in hastening the implementation of ML and AI. In the upcoming years, market trends are predicted to increase in favor of machine learning as a service. For example, the world's first graduate-level research institution devoted to artificial intelligence (AI), Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), has made preparations for a strategic partnership with IBM. A Memorandum of Understanding was signed by senior executives from the two institutions with the goal of improving fundamental AI research and speeding up the kinds of scientific discoveries that might enable AI to be used to assist address some of humanity's most pressing problems.

Following this, the service segment is also expected to observe significant growth in the global machine learning market owing to the rapid adoption of machine learning and AI in the business sector. For example, as IBM embarks on one of the largest corporate transformation initiatives in the world based on SAP ERP software, intended to spur the company's development and improve client service, IBM and SAP announced the next milestone in their long-standing cooperation.

Machine Learning Market Analysis by Enterprise size

In 2021, big businesses held the greatest share in the global machine learning market. This is due to the increasing use of artificial intelligence and data science technologies to integrate quantitative insights into business processes. For example, Pitney Bowes and IBM have a deal that will see IBM provide managed infrastructure, IT automation, and machine learning services to enable Pitney Bowes to transform and adopt hybrid cloud computing to support its worldwide business plan and objectives.

It is predicted that small and midsized businesses would increase significantly over the forecasted timeframe. The primary technologies enabling SMEs to lower ICT investments and access digital resources are anticipated to be AI and ML. For example, many businesses, governments, academic institutions, and small- and medium-sized enterprises (SMEs) all around the world, including the IPwe Platform, IPwe Registry, and Global Patent Marketplace, are already utilizing IPwe's technology, the company claims. Because IP may be used as collateral or as a guarantee of an organization's worth, portraying patents as digital assets is particularly effective for SMEs because it makes it easier to employ IP as a funding tool. With increased search made possible by IBM AI, the IPwe Register compiles current, active, and historical patent records in a single, publicly available registry.

Machine Learning Market Analysis by Deployment

Cloud installations had the biggest market share for machine learning in 2021. A few of the main benefits that have led to the adoption of cloud-based delivery models for deep learning software solutions and services are flexibility, automated software upgrades, disaster management via cloud-based backup systems, and increased efficiency.

For example, IBM and the All-England Lawn Tennis Club introduce new digital experiences for Wimbledon fans across the globe, utilizing artificial intelligence (AI) operating on IBM Cloud and hybrid cloud technologies. The new features, which were jointly developed by the All-England Club and IBM for Wimbledon.com and the Wimbledon app, add to an extensive collection of online fan experiences, including the acclaimed IBM Power Index with Watson, IBM Match Insights with Watson, Personalised Recommendations, and Highlights Reels, all aimed at enhancing global audiences' knowledge of and interest in players, matches, and the competition.

Machine Learning Market Analysis by End User

In 2021, the healthcare segment held the largest share in the global machine learning market. This is owing to the rapid research and development by the prominent market players in the industry and collaborations taking place in order to obtain a larger market share. For example, according to a definitive agreement that the two companies have signed, Francisco Partners will purchase healthcare data and analytics assets from IBM that are currently a part of the Watson Health business. Francisco Partners is a well-known international investment firm that specializes in working with technology companies. Numerous and varied data sets and solutions, such as Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex, and imaging software services, are among the assets purchased by Francisco Partners.

Following this, Machine intelligence technology is used by banks and other financial institutions to stop fraud and find significant data insights. E-commerce has established itself as a significant force behind retail trade business methods. Retailers rely on artificial intelligence to gather data, evaluate it, and use it to provide customers with tailored shopping experiences. For example, aiming to increase access to financial services across the continent, IBM said that financial institutions throughout Africa have chosen hybrid cloud and AI capabilities from IBM to foster digital innovation and continue developing digital-first solutions.

Global Machine Learning Market by Component, 2021 (%)

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Machine Learning Market Regional Insights

In 2021, North America held the largest share in the global machine learning market. The market growth in the region is attributed to the presence of significant R&D investors like IBM Corporation, Amazon.com, and Oracle Corporation. Additionally, significant expenditures and the availability of a well-established IT infrastructure are anticipated to fuel market expansion in North America. For instance, the United States Defense Advanced Research Projects Agency (DARPA) committed USD 2 billion to the advancement of AI technology.

For example, to improve the Department of Defense's (DoD) microelectronics supply chain for crucial mission platforms, IBM announced a new 33-month work order under its contract with the Defense Microelectronics Activity (DMEA). IBM Consulting will keep establishing secure microelectronics production processes at commercial state-of-the-art fabrication facilities as part of the Trusted Foundry Access II program.

Following this, Europe is expected to have considerable share in the global machine learning market. This is due to the increased adoption of ML technology in developing nations like the United Kingdom and Germany which have significant populations of skilled people. Greater customer access to AI-enabled services and products is having an impact on the regional market. For example, businesses have been increasingly turning to integrated digital networks for the 360-degree visibility and multi-tier cooperation made possible only by cloud-based apps, and SAP SE is working to build resilience across their operations and those of their trade partners. However, visibility and teamwork are far from the only benefits provided by corporate networks.

Global Machine Learning Market By Geography, 2021 - 2028
  • Largest
  • Fastest

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Machine Learning Market Dynamics

Machine Learning Market Driver

  • Machine learning technology is already helping in a number of healthcare-related situations. This technology is used in the healthcare industry to evaluate millions of different data points, forecast outcomes, provide quick risk assessments, and allocate resources precisely, among many other things. For instance, today IBM Watson Health and Healthcare IT Leaders announced the combination of IBM Digital Health Pass and Healthcare IT Leaders Healthy Returns, a full set of corporate COVID-19 services.
  • Medical Imaging Diagnosis: Computer vision is a cutting-edge method that blends ML and deep learning. The Microsoft InnerEye initiative, which focuses on image diagnostic tools for image analysis, has approved this. For instance, an AI model developed by a team of researchers from IBM and Pfizer can predict with a 71 percent accuracy the eventual beginning of Alzheimer's disease in healthy individuals using tiny samples of linguistic data (obtained via clinical verbal cognition tests).

Machine Learning Market Restraint

  • A wide range of advantages provided by the ML platform contributes to the market expansion. However, the platform is missing several essential elements that are anticipated to impede market expansion. The market is significantly constrained by the existence of inaccurate algorithms, which are occasionally underdeveloped. Precision is crucial for industrial companies using big data and machine learning. Up until the system has all the parameters set and the error margin is near to or equal to zero, human input is necessary. Therefore, this element can limit the global machine learning market expansion.

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Machine Learning Market Competitive Landscape

The Global Machine learning market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions.

Top Players in the Machine Learning Market

  • IBM
  • Amazon Web Services (AWS)
  • Microsoft Corporation
  • Google LLC
  • SAS Institute Inc.
  • Intel Corporation
  • Alphabet Inc.
  • General Electric
  • SAP SE
  • H2O.ai
  • Freenome Holdings Inc.
  • Baidu Inc.
  • Ayasdi Inc.
  • Salesforce.com Inc.
  • DataRobot Inc.
  • Big Panda Inc.
  • Teradata Corporation
  • Domino Data Lab Inc.
  • Cloudera Inc.
  • RapidMiner Inc.

Machine Learning Market Recent Developments

  • In June 2022, with the launch of a lower entry point for OCI Dedicated Region and a preview of Compute Cloud@Customer services today, Oracle Cloud Infrastructure (OCI) is meeting customers where they are by bringing more than 100 OCI public cloud services inside customers' data centers. The tight latency, data residency, and data sovereignty criteria that are essential to many IT modernization initiatives will be met by clients using these new services.
  • In June 2022, responsible Computing, a new collaboration of technology pioneers collaborating to solve sustainable development goals, was unveiled by Object Management Group. The idea behind responsible computing is that we need to start thinking about technology in terms of its effects on people and the environment, as well as existing and future concerns in computing, such as sustainability, ethics, and professionalism.

Machine Learning Key Market Trends

  • Machine learning will become a significant trend in security analytics as businesses use more sophisticated security frameworks. Cyber specialists struggle greatly to detect and analyze prospective cyber threats and attacks since there is so much data being produced and transmitted across many networks. As cyber risks become more pervasive and sophisticated, machine learning algorithms also help enterprises and security teams anticipate, detect, and recognize cyber-attacks more swiftly. Due to this, integrating advanced learning capabilities into analytics-driven solutions is unquestionably growing in importance.

Machine Learning Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our Global Machine Learning Market Analysis, in terms of components, the solutions segment held the largest share in the global machine learning market owing to the use of these solutions by academics and data scientists in hastening the implementation of ML and AI. By deployment, the cloud segment held the largest market share owing to the benefits that have led to the adoption of cloud-based delivery models for deep learning software solutions and services are flexibility, automated software upgrades, disaster management via cloud-based backup systems, and increased efficiency. By end-user, the healthcare segment held the largest share in the global machine learning market owing to the increase in the use of AI in the sector. And by region, the North American region held the largest market share owing to the presence of prominent market leaders in the region.

Report Metric Details
Market size value in 2019 USD 6.91 billion
Market size value in 2031 USD 183.21 billion
Growth Rate 44.1%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Component
    • Solutions, Services
  • Deployment
    • Cloud, On-Premise
  • Enterprise Size
    • SMEs, Large Enterprise
  • End User
    • Healthcare, Retail, IT, Telecommunication, Banking, Financial Services, Insurance (BFSI), Automotive & Transportation, Advertising & Media, Manufacturing, Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • IBM
  • Amazon Web Services (AWS)
  • Microsoft Corporation
  • Google LLC
  • SAS Institute Inc.
  • Intel Corporation
  • Alphabet Inc.
  • General Electric
  • SAP SE
  • H2O.ai
  • Freenome Holdings Inc.
  • Baidu Inc.
  • Ayasdi Inc.
  • Salesforce.com Inc.
  • DataRobot Inc.
  • Big Panda Inc.
  • Teradata Corporation
  • Domino Data Lab Inc.
  • Cloudera Inc.
  • RapidMiner Inc.
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Machine Learning Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Machine Learning Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Machine Learning Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Machine Learning Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Machine Learning Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Machine Learning Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Machine Learning Market size was valued at USD 6.91 billion in 2019 and is poised to grow from USD 9.95 billion in 2023 to USD 183.21 billion by 2031, growing at a CAGR of 44.1% in the forecast period (2024-2031).

The Machine learning market is relatively fragmented, with a high level of competition. The prominent players operating in the market are constantly adopting various growth strategies to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D to supply industries with the most efficient and cost-effective solutions. 'IBM', 'Amazon Web Services (AWS)', 'Microsoft Corporation', 'Google LLC', 'SAS Institute Inc.', 'Intel Corporation', 'Alphabet Inc.', 'General Electric', 'SAP SE', 'H2O.ai', 'Freenome Holdings Inc.', 'Baidu Inc.', 'Ayasdi Inc.', 'Salesforce.com Inc.', 'DataRobot Inc.', 'Big Panda Inc.', 'Teradata Corporation', 'Domino Data Lab Inc.', 'Cloudera Inc.', 'RapidMiner Inc.'

Machine learning technology is already helping in a number of healthcare-related situations. This technology is used in the healthcare industry to evaluate millions of different data points, forecast outcomes, provide quick risk assessments, and allocate resources precisely, among many other things. For instance, today IBM Watson Health and Healthcare IT Leaders announced the combination of IBM Digital Health Pass and Healthcare IT Leaders Healthy Returns, a full set of corporate COVID-19 services.

Machine learning will become a significant trend in security analytics as businesses use more sophisticated security frameworks. Cyber specialists struggle greatly to detect and analyze prospective cyber threats and attacks since there is so much data being produced and transmitted across many networks. As cyber risks become more pervasive and sophisticated, machine learning algorithms also help enterprises and security teams anticipate, detect, and recognize cyber-attacks more swiftly. Due to this, integrating advanced learning capabilities into analytics-driven solutions is unquestionably growing in importance.

In 2021, North America held the largest share in the machine learning market. The market growth in the region is attributed to the presence of significant R&D investors like IBM Corporation, Amazon.com, and Oracle Corporation. Additionally, significant expenditures and the availability of a well-established IT infrastructure are anticipated to fuel market expansion in North America. For instance, the United States Defense Advanced Research Projects Agency (DARPA) committed USD 2 billion to the advancement of AI technology.

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