Global Deep Learning Market – Industry Trends and Forecast to 2029

Global Deep Learning Market, By Hardware (Processor, Memory, Network), Software (Solution Platform/API), Services (Installation, Training, Support and Maintenance), Application (Signal Recognition, Data Mining, Image Recognition, Others), End User (Automotive, Law, Agriculture, Retail, Marketing, Security, Healthcare, Manufacturing, Fintech, Human Resources) - Industry Trends and Forecast to 2029.

 Market Analysis and Size

The deep learning technology is widely utilized in natural language processing (NLP), speech recognition software, language translation services, image recognition tools, and speech recognition software, among others. This technology is highly beneficial across the healthcare, agriculture, manufacturing, retail, automotive, and security.

Global Deep Learning Market was valued at USD 2.99 billion in 2021 and is expected to reach USD 68.70 billion by 2029, registering a CAGR of 34.50% during the forecast period of 2022-2029. “Image Recognition” accounts for the largest application industry segment in the respective market owing to the high usage to recognize patterns in unstructured data including text, images, sound and video. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Market Definition

Deep learning refers to a subfield of machine learning that incorporates a series of algorithms and computer instructions that are generally inspired by the structure and function of the brain. This technology could also be called a machine learning technique that assists computers to learn by example.

Report Scope and Market Segmentation

Deep Learning Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

• Rise in Trend of Digitalization

The rise in trend of digitalization along with expansion of information technology (IT) industry across the globe is one of the major factors driving the growth of deep learning market. Deep learning algorithms are capable of automatically intercepting available data points that improves accuracy and efficiency of the decision-making process.

• Increase in Cyber Attacks

The increase in the number of cyber-attacks encouraging industries to employ database management, fraud detection systems and cybersecurity accelerate the market. This technology is used for processing medical images for drug discovery, and disease diagnosis delivering virtual patient assistance in the healthcare sector.

• Integration with Advanced Technologies

The integration with big data analytics and cloud computing to offer enhanced services to various industries further influence the market. The research and development (RandD) activities improve hardware and software processing solutions for deep learning.

Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the deep learning market.

Opportunities

Furthermore, presence of limited structured data to increase demand for deep learning solutions extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, high spending in travel, tourism, healthcare, and hospitality industries will further expand the market.

Restraints/Challenges

On the other hand, increase in complexity in hardware due to complex algorithm used in technology and lack of technical expertise are expected to obstruct market growth. Also, lack of flexibility and multitasking, and absence of standards and protocols are projected to challenge the deep learning market in the forecast period of 2022-2029.

This deep learning market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on deep learning market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Covid-19 Impact on Deep Learning Market

The COVID-19 had a negative impact on the deep learning market owing to the strict lockdowns and social distancing to contain the spread of the virus. The economic uncertainty, partial shutdown of the business and low consumer confidence impacted demand deep learning market. The supply chain got hampered during the pandemic along with delay logistics activities. However, the deep learning market is expected to regain its pace during the post pandemic scenario due to the easing on the restrictions.

Recent Developments

• Larsen and Toubro Infotech joined hands with Amazon Web Services in June’2021. Larsen and Toubro Infotech launched a dedicated cloud unit for AWS to focus on migration and modernization, data analytics, Internet of things, and data analytics.

Global Deep Learning Market Scope and Market Size

The deep learning market is segmented on the basis of hardware, software, services, application and end user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Hardware

• Processor
  • GPU
  • FPGA
  • CPU
  • Others
• Memory
• Network

Software

• Solution
• Platform
• API

Services

• Installation
• Training
• Support and Maintenance

Application

• Signal Recognition
• Data Mining
• Image Recognition
• Other

End User

• Automotive
  • Autonomous Driving
  • Human–Machine Interface
  • Semiautonomous Driving
• Law
• Agriculture
  • Precision Farming
  • Livestock Monitoring
  • Drone Analytics
  • Agricultural Robots
  • Others
• Retail

Product Recommendation and Planning

• Customer Relationship Management
• Visual Search
• Virtual Assistant
• Price Optimization
• Payment Services Management
• Supply Chain Management
• Demand Planning
• Others

Marketing

• Security
•  Identity and Access Management
• Risk and Compliance Management
• Encryption
• Data Loss Prevention
• Unified Threat Management
• Antivirus/Antimalware
•  Intrusion Detection/Prevention Systems
•  Others
• Healthcare
  • Patient Data and Risk Analysis
  • Lifestyle Management and Monitoring
  • Precision Medicine
  • Inpatient Care and Hospital Management
  • Medical Imaging and Diagnostics
  • Drug Discovery
  • Virtual Assistant
  • Wearables
  • Research
• Manufacturing
  • Material Movement
  • Predictive Maintenance and Machinery Inspection
  • Production Planning
  • Field Services
  • Reclamation
  • Quality Control
• Finetech
• Human Resources

Deep Learning Market Regional Analysis/Insights

The deep learning market is analysed and market size insights and trends are provided by country, hardware, software, services, application and end user.

The countries covered in the deep learning market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the deep learning market because of increased investments in artificial intelligence and neural networks within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 because of the establishments of subcommittees on artificial intelligence and machine learning within the federal government in the region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Deep Learning Market

The deep learning market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to deep learning market.

Some of the major players operating in deep learning market are

• Baumer Optronic GmbH (Germany)
• JAI A/S (Denmark)
• MVTec Software GmbH (Germany)
• Tordivel AS (Norway)
• ISRA VISION (Germany)
• FLIR Systems, Inc. (US)
• AMETEK.Inc (US)
• Qualitas Technologies Pvt Ltd (India)
• SUALAB (South Korea)
• Cadence Design Systems, Inc. (US)
• CEVA, Inc. (US)
• Inuitive (US)
• Cognex Corporation (US)
• Basler AG (Germany)
• Omron Corporation (Japan)
• Keyence Corporation (Japan)
• National Instruments (US)
• Sony Corporation (Japan)
• Teledyne Technologies, Inc. (US)
• Allied Vision Technologies GmbH (Germany)
• Texas Instruments Inc. (US)