This market is expected to be worth USD 1,7 million by 2022, growing at a CAGR of 65.3 percent between 2016 and 2022, according to a new reportnew report from Research and Markets. Deep learning is a branch of machine learning that attempts to model high level abstractions in data that is used in artificial intelligence programs.
The major driver for the growth is the growing usage of deep learning technology across various industrial vertical such as advertisement, finance, automotive, medical and among other. Other important drivers for this market is the robust R&D for the development of better processing hardware for deep learning.
Of all the major end-user industries, the medical industry has highest growth opportunity. The deep learning technology is highly useful for drug discovery, processing medical images for diagnosis of chronic diseases such as cancer, and virtual patient assistance. This is fueling the growth of this market for the medical industry.
Of the applications, the image recognition application holds the largest share of the deep learning market as image recognition technology is extensively used for in different industries for pattern recognition, optical character recognition, code recognition, facial recognition, object recognition, and digital image processing.
The software market holds the largest share of the deep learning market owing to the high demand for deep learning solutions across various applications such as autonomous car, data analytics, cybersecurity, and fraud detection, among others.Google Inc. is among the leaders in the deep learning market.
