Research Nester’s recent market research analysis on “Machine Learning Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global machine learning market in terms of market segmentation by end user, deployment, enterprise type, and by region.
Growing Demand in Retail Sector to Promote Global Market Share of Machine Learning
The global machine learning market is estimated to grow majorly on account of the increased demand in retail sector. To improve customer experience and enhance supply chain operations, the market continues to expand as a result of growing use of machine learning in retail. Machine learning techniques are used by retailers to predict demand, increase inventory levels, analyse customer data and deliver customized recommendations. Therefore, rise in the retail sector is expected to boost the machine learning market in the projected period. In 2021, global retail sales are estimated to be worth USD 26 trillion.
Some of the major growth factors and challenges that are associated with the growth of the global machine learning market are:
Growth Drivers:
• Surge in Technological Advancement
• Rising Adoption of IoT and Automation
Challenges:
The machine learning models can be used to make decisions that have a real-world impact on people’s lives. This raises concerns about privacy, bias, and discrimination. Companies need to be aware of the regulatory landscape and ensure that they are compliant with all applicable laws and regulations. Furthermore, issues with data quality and availability are some of the major factors anticipated to hamper the global market size of machine learning.
Request Report Sample@
https://www.researchnester.com/sample-request-5169
By end user, the global machine learning market is segmented into healthcare, retail, IT & telecom, BFSI, automotive & transportation, advertising & media, and manufacturing. The advertising & media segment is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. This can be owing to omnichannel Optimization, in which machine learning algorithms plan budgets and alter bidding systems for the optimization of advertising campaigns across a number of channels. In addition, the use of machine learning in detecting advertising fraud has become more and more important. Advertisers are using machine learning algorithms for the detection and prevention of fraud, such as click or impression fraud, in order to ensure that advertising campaigns will be efficient and the budget is protected.
By region, the Europe machine learning market is to generate the highest revenue by the end of 2035. This growth is can be attributed to its wide demand in healthcare and automotive industry in this region. There are some of the largest manufacturers in this sector, such as BMW, Volkswagen and Mercedes Benz, which have increasingly been investing in artificial intelligence technologies for improving their production processes. Furthermore, in the healthcare sector this region is seeing an increased adoption of machine learning solutions that can improve outcomes for patients and reduce costs.
This report also provides the existing competitive scenario of some of the key players of the global machine learning market which includes company profiling of Microsoft Corporation, Amazon Web Services, Inc., Oracle Corporation, Google LLC, SAP SE, SAS Institute Inc., Hewlett Packard Enterprise Development LP, and others.
Access our detailed report at:
https://www.researchnester.com/reports/machine-learning-market/5169