Deep learning is a subdivision of machine learning in artificial intelligence (AI) concerned with the algorithm inspired by the functioning of the human brain termed as artificial neural networks. It is also termed as deep neural learning or deep neural network. Deep learning is evolving with the increasing amount of unstructured data due to digitalization. The available amount of data is utilized in deep learning to process or understand that data for effective decision making in various industry verticals including healthcare, manufacturing, automotive, agriculture, retail, security, human resources, marketing, law, and fintech.
The adoption of cloud-based technology, as well as the use of deep learning systems in big data analytics, is a significant factor driving the market's revenue growth. Deep learning is achieved through the use of an artificial network that mimics the functioning of the human brain, allowing the machine to analyse data in a structured manner. In contrast to traditional programming, deep learning does not require the intervention of a human programmer, and the vast amounts of data collected over time serve as fuel for deep learning systems.
Deep Learning Market– The dynamics of the market
Increasing computing power and decreasing hardware costs, combined with a rapidly expanding electronics industry, are driving this trend. Deep learning market growth is being fuelled by the increasing adoption of cloud-based technology as a result of the evolution of big data. Customers-centric services based on artificial intelligence (AI) are becoming increasingly popular, which is increasing the market's value.
The increasing number of security issues in almost every industry vertical as a result of the widespread use of online platforms is further accelerating market growth. It is also anticipated that the presence of less structured data, as well as increased spending in the healthcare sector as well as the travel, tourism, and hospitality industries, will create potential opportunities in the deep learning market.
Growth and restraint of the Deep learning market in the world?
· Market Size to Expand at a Strong Rate: Based on the current market situation, it is predicted that the deep learning market share will continue to grow during the review period, owing to the increasing adoption of artificial intelligence (AI) and deep learning for surveillance, signal processing, and imaging classification applications, among others. Due to the higher capital-intensive nature of the deep learning industry, there is a moderate barrier to entry into the industry. It is expected that the growing demand from end-users will draw several new entrants who will offer technology that is continually updated.
· Deep Learning Needs Enough Quality Data: Deep learning performs best when it has access to a large amount of high-quality data, and its performance increases as the amount of data available increases. However, if a deep learning system is not fed with enough high-quality data, it can suffer from a severe lack of training data.
· AI and Expectations: There is a significant disconnect between the expectations of the general public regarding artificial intelligence technologies and the actual potential applications of AI. Super-smart computers with cognitive capabilities, according to popular perception, will eventually replace humans in a wide range of tasks currently performed by human beings.
Deep learning presents lucrative investment opportunities because it assists in overcoming the challenges associated with large amounts of data. The proliferation of deep learning integration with big data analytics, as well as the rising need to improve computing power and decrease hardware costs as a result of deep learning algorithms' ability to run or execute faster on a GPU as compared to a CPU, is resulting in a high adoption of deep learning technologies among various industries, which is expected to positively impact the growth of the global deep learning market.
Deep learning market: 47.3% CAGR
Projected Revenue: 33.4 billion from 2021 to 2027
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Published Date : July-2021