Product ID: UCMIR45E2204
Report ID:
UCMIR45E2204 |
Region:
Regional |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
North America stands as the second-largest emerging region in the global Machine Learning (ML) market, with a forecasted Compound Annual Growth Rate (CAGR) of 36.8% in the upcoming period. Projections indicate that the global market will witness a significant expansion, soaring from USD 19.20 billion in 2022 to a staggering USD 225.91 billion by 2030. The region's prominence in the ML landscape is attributed to its multitude of thriving industries and a robust IT infrastructure. This, coupled with substantial investments in sectors such as healthcare, defense, and BFSI, technological advancements in telecommunications, and the adoption of essential services like security information and cloud applications, is expected to be the driving force behind the growth of the North American ML market in the foreseeable future.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Application Software by segment aggregation, the contribution of the Application Software in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Product ID: UCMIR45E2204