Good Stuff Happens in 1:1 Meetings: Why you need them and how to do them well
Deep Learning Industry
1. Market Highlights
The global deep learning market is expected to reach USD 17.4 billion at a CAGR of over 30.87% by
the end of the forecast period 2018–2023.
Increasing adoption of cloud-based services and large scale generation of unstructured data has
increased the demand for deep learning solutions. Additionally, increasing applications of deep
learning in recent years for image/speech recognition, data mining and language translations, and
the growing number of humanoid robots, for example, Sophia, developed by Hanson Robotics, are
some of the major drivers of the deep learning market.
Segmentation:
The global deep learning market has been segmented on the basis of component, application, end-
user, and region. The component segment has been segmented into hardware, software, and
service. The hardware segment has been further segmented into processor, memory, and network.
The software segment has been further segmented into solution and platform. The services
segment has been further segmented into installation, training, and support & maintenance.
Application-wise, the deep learning market comprises image recognition, data mining, signal
recognition, and others. The end user segmentation of the deep learning market includes security,
manufacturing, retail, automotive, media & entertainment, BFSI, healthcare, agriculture, and others.
The region includes North America, Europe, Asia Pacific, and the rest of the world.
Regional Analysis
The global deep learning industry is spanned across North America, Europe, Asia-Pacific, and the
rest of the world. North America is expected to be one of the largest markets for deep learning
technology, with a significant growth rate during the forecast period. North America has been
categorized into three regions—the US, Canada, and Mexico. During the forecast period, the US is
expected to be the leading region, growing at a CAGR of 29.34%, followed by Canada and Mexico.
The increasing demand for deep learning-based speech and image recognition software and data
mining across the government, law enforcement, healthcare, security and surveillance, military &
defense, IT & telecommunication, financial services, and research and development sectors is also
expected to fuel the market growth. The increasing adoption of artificial intelligence and deep
learning for video surveillance, signal processing, and imaging classification has positively impacted
the growth of deep learning market in US. Furthermore, the rising demand for deep learning with
graphics processing units (GPUs) among the US aerospace and defense industry, for life cycle
analysis and predictive maintenance of aircraft and data and image evaluations generated from
drones also fuel market growth in the country.
On the other hand, Asia-Pacific is expected to witness the fastest growth due to rapid developments
and adoption of deep learning technology across industries in China, Japan, India, Australia, New
Zealand, South Korea, and Taiwan. The extensive use of chatbots and strong investments by
companies such as Amazon Web Services Inc., to encourage the adoption of digital voice assistants
in this region also contributes to the market growth in the region. Presence of key market players
such as Samsung Group and Baidu Inc. focused on the development of deep learning technology is
likely to drive the market growth in Asia-Pacific. Increasing government initiatives to improve
security and surveillance of public infrastructure by implementing deep learning algorithms for
image and face recognition also contributes to the market growth in this region. The demand for
2. deep learning technology is growing among the healthcare & life science sector for drug research
and diagnostics. Adoption of deep learning technology among banking and financial services, IT &
telecommunication, retail, media & entertainment industries in the Asian countries also boost the
market growth.
Key Players
Some of the prominent players in the global deep learning market are Amazon Inc. (USA), Intel
Corporation (USA), Samsung Electronics Co Ltd (South Korea), Micron Technology (USA), Sensory
Inc. (USA), Xilinx Inc. (USA), Google LLC (USA), Mellanox Technologies (USA), Adapteva, Inc. (USA),
Qualcomm Technologies Inc. (USA), NVIDIA Corporation (USA), Baidu Inc. (China), IBM Corporation
(USA), Advanced Micro Devices Inc. (USA), Facebook (USA), Tenstorrent (Canada), and Microsoft
Corporation (USA).
