Market Highlights:
Machine Learning is a part of Artificial Intelligence (AI) that grants computers the capability to learn without being detailed programmed. Machine learning market mainly focuses on the improvement of the computers programs that can be switch when reveal new data. Computer uses machine learning for finding hidden insights without being specifically programmed. Machine learning technology is relates with safety and security which is used in face recognition, face detection, weather forecast and many more. The machine learning technology which is used from finding the human diseases to stop crime. So, machine learning technology having diversified applications which is the main reason of market growth. The main objective of machine learning is to allow the computers learn automatically without human intervention or assistance and adjust actions accordingly.
The machine learning algorithm are further divided into Supervised machine learning algorithms , unsupervised machine learning algorithms, Semi-supervised machine learning algorithms, Reinforcement machine learning algorithms. Supervised machine learning algorithm can apply what has been learned in the past to new data using labelled examples to predict future events. Unsupervised machine learning algorithms are used when the information used to train is neither classified nor labelled. Semi-supervised machine learning algorithms fall somewhere in between supervised and unsupervised learning, since they use both labelled and unlabelled data for training – typically a small amount of labelled data and a large amount of unlabelled data. Reinforcement machine learning algorithms is a learning method that interacts with its environment by producing actions and discovers errors or rewards.
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Market Players & Key Strategies
Google Inc. (U.S.),
Facebook (U.S),
IBM Watson (U.S.),
Apple (U.S),
Microsoft (U.S.),
Cisco(U.S.),
Wipro(India),
Nuance Communications(U.S.) ,
Amazon (U.S) , Intel (U.S.) and Baidu (China)
The global Machine Learning Market is poised for growth during the forecast period of 2018-2022. Last year i.e. in 2017, the evaluated value of the market was around USD 1.35 million. By the end of the forecast period the market is expected to earn USD 8.54 million. The market is anticipated to grow at a jaw-dropping CAGR of 43.9%.
Industry News
June 4, 2018 DataRobot Puts the Power of Machine Learning in the Hands of Business Analysts: DataRobot, the Boston based Data Science Company provides machine learning technology to the business analyst who don’t have knowledge of machine learning or programming. Business analyst use automated machine learning to build and deploy accurate predictive models in a short span of time.
June 3, 2018 Amazon Alexa learns new trick: finding the right skill on its own: The feature combines a customer request with a machine-learning model to choose the right skill to use, without the consumer needing to know the name of the skill. When a customer taps their Amazon Echo smart speaker and speaks without using a skill by name, Alexa selects the best skill to call, based on the machine-learning model.
Segmentation
On the basis of components, the market is segmented into software tools, cloud and web based APIs & others.
On the basis of service, the market is segmented into professional services &managed services.
On the basis of organization size, the market is segmented into Small and Medium Enterprises & Large enterprises.
On the basis on Applications, the market is segmented into BFSI, Healthcare, Government, Automotive, Education, Media &Entertainment, Defence, Telecom, and Retail & E-commerce
On the basis of Region, the market is segmented into North America, Europe, Asia-Pacific (APAC), and Rest of the World
Regional Analysis
The regional analysis of Machine Learning market is being studied for region such as Asia pacific, North America, Europe and Rest of the World.
European region is expected to dominate in the Machine Learning market by the forecast period owing to fast emerging of start-ups which mainly focus on innovation and commercialization of machine intelligence technologies. London is Europe’s start up canter, mixing capital, proximity to markets, and world-class research hubs. The Asia-Pacific region, though, is expected to emerge as a lucrative market.
North America closely followed by Europe in Rapidly advancements in computer programs category.
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Intended Audience
- Cloud service providers
- Telecommunication Companies
- Investors and consultants
- Research/Consultancy firms
- Technology solution providers
- Safety & Security Providers
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