Deep Learning Market Size Worth $1,727.24 Billion by 2032 | CAGR: 43.5%

The global deep learning market size is expected to reach USD 1,727.24 billion by 2032, according to a new study by Polaris Market Research. The report “Deep Learning Market Share, Size, Trends, Industry Analysis Report, By Solution; By Hardware; By Application (Image Recognition, Voice Recognition); By End-use; By Region; Segment Forecast, 2024–2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Deep learning has become a crucial component of modern technologies, such as natural language processing, speech recognition, and autonomous vehicles. This growth is due to several factors, including the increasing availability of data and advancements in hardware, such as GPUs and FPGAs. Its applications are spreading across industries including healthcare creating growth opportunities for global market, contributing to the remarkable growth of the global market is also driven by the need for intelligent decision-making systems, growth in big data analytics, and the increasing adoption of cloud-based technologies are creating lucrative opportunities for market growth in the coming years.

In May 2021, Google Cloud introduced the Vertex AI platform. The platform aims to simplify the process of developing and deploying machine learning models by offering pre-built tools and workflows. This launch is in line with Google’s ongoing efforts to enhance its AI and ML capabilities and remain competitive in the market.

Additionally, cloud-based deep learning platforms and integration into software solutions are further accelerating market expansion. One of the primary drivers is the increasing availability of data, which has enabled deep learning algorithms to become more accurate and effective. Data availability, advanced hardware development, and various industry applications, such as finance, and retail, are expected to continue fueling the growth of the market in the future.

Deep learning market report highlights

• Software segment accounted for major global market share in 2022 due to the rise in the quantity of software tools accessible to developers which enhanced the overall global market experience.
• The graphics processing unit (GPU) segment dominated the global market in 2022 and accounted for high memory bandwidth and throughput. It also enhances the performance of the market which led to future market growth.
• Image recognition segment is projected to grow at a fastest CAGR during the study period, which is driven by its variety of features including visual search, facial recognition
• The automotive industry segment led the market with a holding of significant revenue share due to extensive need for massive computational power as a result of efficient and reliable performance.
• North America region dominated the global market in 2022 on account of increasing expansion of integrating deep learning and image recognition sector in such countries.
• The global key market players include Advanced Micro Devices Inc., Amazon Web Services Inc., Google LLC, IBM Corporation, Intel Corporation.

Polaris Market Research has segmented the Deep Learning market report based on solution, hardware, application, end-use and region:

Deep Learning, Solution Outlook (Revenue - USD Billion, 2019 - 2032)

• Hardware
• Software
• Services

Deep Learning, Hardware Outlook (Revenue - USD Billion, 2019 - 2032)

• Central Processing Unit (CPU)
• Graphics Processing Unit (GPU)
• Field Programmable Gate array (FPGA)
• Application-Specific Integration Circuit (ASIC)

Deep Learning, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Image Recognition
• Voice Recognition
• Video Surveillance & diagnostics
• Data mining

Deep Learning, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

• Automotive
• Aerospace & Defense
• Healthcare
• Retail
• Others

Deep Learning, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa