The global machine learning market is anticipated to grow at a CAGR of 40% during the forecast period (2022-2028). Machine learning is a subfield of artificial intelligence, which is defined as the capability of a machine to imitate intelligent human behavior. Artificial intelligence (AI) systems are used to perform complex tasks in a way that is similar to how humans solve problems. Machine learning technology is used in a variety of circumstances in healthcare. It supports in detecting and diagnosing illnesses and conditions that are sometimes difficult to identify. With advancements in data science and AI, the performance of machine learning accelerating at a rapid pace. Machine learning may identify the hidden patterns in data by analyzing significant volumes of data using high-level algorithms. Machine learning may supplement or replace manual processes with automated systems utilizing statistically derived actions in critical processes. These are some others factors that are going to boost the growth of the global machine learning market.
Some major players in the market include IBM Corp., Microsoft Corp., and Oracle Corp., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships, new product launches, and collaborations, to stay competitive in the market. For instance, in February 2022, Telecom giant AT&T Intellectual Property and AI Company H2O have collaborated and launched an AI feature store for enterprises. This delivers a repository for collaborating, sharing, reusing, and discovering machine learning features to speed AI project deployments and improve ROI. In April 2019, Microsoft Corp. created a platform that employs machine learning to assist deep learning-based algorithms in solving real-world problems.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Organization Size
- By Deployment Mode
- By Vertical
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- IBM Corp., Microsoft Corp., and Oracle Corp., among others.
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Global Private Cloud Storage Market Report by Segment
By Storage Type
- Object Storage
- File Storage
- Block Storage
By Offering
- Solutions
- Services
By Organization
- Large Enterprise
- Small and Medium Enterprise
By End-User
- Healthcare
- Retail
- BFSI
- IT & Telecom
- Government
- Retail
- Others
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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