Deep Learning Market worth 1,722.9 Million USD by 2022
June 15, 2107
According to market research Deep learning market is expected to have Compounded annual growth rate of 65.3% between 2016 and 2022 which translates to the market worth of 1,722.9 Million USD. The huge market potential of deep learning will be present at industries such as advertisement, finance and automotive. This potential is fueled by an increasing research and development of better processing hardware and increasing adoption of cloud-based technology. The increased usage of deep learning in data analytics, cyber security, fraud detection and database systems creates additional growth of data mining applications. For example, medical industries generate huge amounts of data sets of medication, patient details and diagnosis. This data is then used to seek out valuable patterns and help to forecast future trends. Therefore, there should be highest growth in the medical industry. However, deep learning requires advanced hardware and thus the hardware market will get a boost. There is an increasing competition between old rivals in this market, as well as the start-ups that are stepping on incumbent firm’s toes.