The global deep learning market is growing at a rapid pace. Market growth attributes to the increasing adoption of cloud-based services and large-scale generation of unstructured data. Besides, the increasing demand for deep learning technology for natural language processing and voice/speech recognition applications drive the growth of the market. Moreover, increasing applications of deep learning models for image/speech recognition, data mining, and language translations escalate market growth.
In its detailed analysis, Market Research Future (MRFR) asserts that the global deep learning market is poised to register a 28.93% CAGR throughout the forecast period (2022 -2030). Growing developments of humanoid robots, like Sophia, and the rising uses of augmented (AR) and virtual reality (VR) displays for the automotive and 3D gaming sectors boost the market growth. The uses of deep learning technologies in medical image analysis are rising exponentially.
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Deep Learning Market Covid-19 Analysis:
the covid-19 development has changed the entire state of the world, including the industry scenarios. The pandemic forced businesses across the world to go through unprecedented changes. The industry scenario is mixed as some industries are flourishing and some are battling. But in short, almost all segments have faced difficulties by the covid-19 pandemic. Although, the deep learning industry is trying hard and growing rapidly now. It is expected that the industry will go through its highest growth in the forecast period.
Global Deep Learning Market - Regional Analysis
North America dominates the global Deep Learning market. The largest market share attributes to the growing adoption of deep learning models for application image recognition, voice & image recognition, data mining, signal recognition, and diagnostics purposes. Besides, substantial investments transpired by key players in the development of AI technology platforms positively impact regional market growth.
Increasing R&D investments and rising business digital transformation push the growth of the market demand in the region. Moreover, the rising use of deep learning technologies for image recognition, data mining, and signal recognition substantiates the market growth. Manufacturing and automotive sectors in the US, Canada, and Mexico boost market growth.
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Industry News
The research team of Binghamton University announced that deep learning technologies have helped to improve public safety in November 2020.
According to the recent report, the researchers of IIT Madras, using a combination of deep learning and traditional machine learning techniques to develop a tool that can diagnose cancer by observing the whole slide images of the tumor.
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