The Global Machine Learning Market is estimated to be US$ 32.1 billion in 2023. It is poised to register 30.6% growth over the forecast period from 2023 to 2030 to reach US $ 208 billion in 2030.
The market growth is driven by the increasing demand for machine learning models that are transparent and explainable, especially in applications like healthcare and finance, where decisions need to be justified. Leading companies are focusing on Industry Adoption, AI-powered products, Healthcare Transformation, Finance and Investment, Manufacturing and Industry 4.0, Energy Efficiency, Natural Language Processing (NLP), AI in Education, Global AI Collaboration, and others to boost market shares in the industry.
The machine learning market was experiencing robust growth including data proliferation, AI advancements, and broad industry adoption, particularly in healthcare, finance, and manufacturing. Trends encompassed NLP, explainable AI, and AI ethics, while challenges included data privacy and a talent shortage. Major players like Google and Microsoft dominated the market, alongside emerging startups specializing in niche machine learning applications.
Automated Machine Learning (AutoML) is increasingly crucial for solving real-world problems in the machine learning market. AutoML simplifies the process of creating machine learning models, enabling a wider range of users to leverage machine learning effectively. This trend is particularly valuable for addressing complex challenges in various industries like healthcare, finance, and manufacturing, as it allows organizations to apply machine learning without extensive data science expertise. The adoption of Automated Machine learning is driving market growth.
The growing demand for AI and machine learning in healthcare is fueling the machine learning market. These technologies are used for diagnosis, treatment recommendations, drug discovery, and predictive analytics, with a focus on improving patient outcomes and operational efficiency while reducing costs. The healthcare sector's increasing adoption of AI-driven solutions, including early disease detection and patient monitoring, is a significant driver for the machine learning market's expansion.
AI's integration in cybersecurity is a key driver for the machine learning market. Machine learning enhances security by identifying and responding to cyber threats, helping organizations defend against evolving attacks. This demand is driven by the growing complexity of cyber threats, emphasizing the need for proactive security measures.
The Global Machine Learning Market is analyzed across Graphic Processing Unit (GPU), Application-Specific Integrated Circuit (ASIC), Field-Programmable Gate Array (FPGA), and others. Of these Soccer will register the fastest growth. Graphics Processing Units (GPUs) are essential in the Machine Learning market for accelerating complex computations required in deep learning model training. Their parallel processing capabilities reduce training times, facilitating faster AI development.
The Global Machine Learning Market is analyzed across various End users including Healthcare, BFSI, Law, Retail, Media and Advertising, Automotive, and others. Of these, Healthcare held a significant market share in 2023. The healthcare sector is a prominent driver of the Machine Learning market, as it increasingly adopts machine learning for disease diagnosis, treatment recommendations, predictive analytics, and personalized medicine. Machine learning enhances patient outcomes, operational efficiency, and data-driven decision-making in healthcare, and its continued adoption in this sector is a key growth factor for the machine learning market.
By Type
By Component
By Enterprise Size
By End-User
By Region
* List not exhaustive
Machine Learning Market Outlook 2023
1 Market Overview
1.1 Introduction to the Machine Learning Market
1.2 Scope of the Study
1.3 Research Objective
1.3.1 Key Market Scope and Segments
1.3.2 Players Covered
1.3.3 Years Considered
2 Executive Summary
2.1 2023 Machine Learning Industry- Market Statistics
3 Market Dynamics
3.1 Market Drivers
3.2 Market Challenges
3.3 Market Opportunities
3.4 Market Trends
4 Market Factor Analysis
4.1 Porter’s Five Forces
4.2 Market Entropy
4.2.1 Global Machine Learning Market Companies with Area Served
4.2.2 Products Offerings Global Machine Learning Market
5 COVID-19 Impact Analysis and Outlook Scenarios
5.1.1 Covid-19 Impact Analysis
5.1.2 Post-COVID-19 Scenario- Low Growth Case
5.1.3 Post-COVID-19 Scenario- Reference Growth Case
5.1.4 Post-COVID-19 Scenario- Low Growth Case
6 Global Machine Learning Market Trends
6.1 Global Machine Learning Revenue (USD Million) and CAGR (%) by Type (2018-2030)
6.2 Global Machine Learning Revenue (USD Million) and CAGR (%) by Applications (2018-2030)
6.3 Global Machine Learning Revenue (USD Million) and CAGR (%) by Regions (2018-2030)
7 Global Machine Learning Market Revenue (USD Million) by Type, and Applications (2018-2022)
7.1 Global Machine Learning Revenue (USD Million) by Type (2018-2022)
7.1.1 Global Machine Learning Revenue (USD Million), Market Share (%) by Type (2018-2022)
7.2 Global Machine Learning Revenue (USD Million) by Applications (2018-2022)
7.2.1 Global Machine Learning Revenue (USD Million), Market Share (%) by Applications (2018-2022)
8 Global Machine Learning Development Regional Status and Outlook
8.1 Global Machine Learning Revenue (USD Million) By Regions (2018-2022)
8.2 North America Machine Learning Revenue (USD Million) by Type, and Application (2018-2022)
8.2.1 North America Machine Learning Revenue (USD Million) by Country (2018-2022)
8.2.2 North America Machine Learning Revenue (USD Million) by Type (2018-2022)
8.2.3 North America Machine Learning Revenue (USD Million) by Applications (2018-2022)
8.3 Europe Machine Learning Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)
8.3.1 Europe Machine Learning Revenue (USD Million), by Country (2018-2022)
8.3.2 Europe Machine Learning Revenue (USD Million) by Type (2018-2022)
8.3.3 Europe Machine Learning Revenue (USD Million) by Applications (2018-2022)
8.4 Asia Pacific Machine Learning Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)
8.4.1 Asia Pacific Machine Learning Revenue (USD Million) by Country (2018-2022)
8.4.2 Asia Pacific Machine Learning Revenue (USD Million) by Type (2018-2022)
8.4.3 Asia Pacific Machine Learning Revenue (USD Million) by Applications (2018-2022)
8.5 South America Machine Learning Revenue (USD Million), by Type, and Applications (2018-2022)
8.5.1 South America Machine Learning Revenue (USD Million), by Country (2018-2022)
8.5.2 South America Machine Learning Revenue (USD Million) by Type (2018-2022)
8.5.3 South America Machine Learning Revenue (USD Million) by Applications (2018-2022)
8.6 Middle East and Africa Machine Learning Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)
8.6.1 Middle East and Africa Machine Learning Revenue (USD Million) by Country (2018-2022)
8.6.2 Middle East and Africa Machine Learning Revenue (USD Million) by Type (2018-2022)
8.6.3 Middle East and Africa Machine Learning Revenue (USD Million) by Applications (2018-2022)
9 Company Profiles
10 Global Machine Learning Market Revenue (USD Million), by Type, and Applications (2023-2030)
10.1 Global Machine Learning Revenue (USD Million) and Market Share (%) by Type (2023-2030)
10.1.1 Global Machine Learning Revenue (USD Million), and Market Share (%) by Type (2023-2030)
10.2 Global Machine Learning Revenue (USD Million) and Market Share (%) by Applications (2023-2030)
10.2.1 Global Machine Learning Revenue (USD Million), and Market Share (%) by Applications (2023-2030)
11 Global Machine Learning Development Regional Status and Outlook Forecast
11.1 Global Machine Learning Revenue (USD Million) By Regions (2023-2030)
11.2 North America Machine Learning Revenue (USD Million) by Type, and Applications (2023-2030)
11.2.1 North America Machine Learning Revenue (USD) Million by Country (2023-2030)
11.2.2 North America Machine Learning Revenue (USD Million), by Type (2023-2030)
11.2.3 North America Machine Learning Revenue (USD Million), Market Share (%) by Applications (2023-2030)
11.3 Europe Machine Learning Revenue (USD Million), by Type, and Applications (2023-2030)
11.3.1 Europe Machine Learning Revenue (USD Million), by Country (2023-2030)
11.3.2 Europe Machine Learning Revenue (USD Million), by Type (2023-2030)
11.3.3 Europe Machine Learning Revenue (USD Million), by Applications (2023-2030)
11.4 Asia Pacific Machine Learning Revenue (USD Million) by Type, and Applications (2023-2030)
11.4.1 Asia Pacific Machine Learning Revenue (USD Million), by Country (2023-2030)
11.4.2 Asia Pacific Machine Learning Revenue (USD Million), by Type (2023-2030)
11.4.3 Asia Pacific Machine Learning Revenue (USD Million), by Applications (2023-2030)
11.5 South America Machine Learning Revenue (USD Million), by Type, and Applications (2023-2030)
11.5.1 South America Machine Learning Revenue (USD Million), by Country (2023-2030)
11.5.2 South America Machine Learning Revenue (USD Million), by Type (2023-2030)
11.5.3 South America Machine Learning Revenue (USD Million), by Applications (2023-2030)
11.6 Middle East and Africa Machine Learning Revenue (USD Million), by Type, and Applications (2023-2030)
11.6.1 Middle East and Africa Machine Learning Revenue (USD Million), by Region (2023-2030)
11.6.2 Middle East and Africa Machine Learning Revenue (USD Million), by Type (2023-2030)
11.6.3 Middle East and Africa Machine Learning Revenue (USD Million), by Applications (2023-2030)
12 Methodology and Data Sources
12.1 Methodology/Research Approach
12.1.1 Research Programs/Design
12.1.2 Market Size Estimation
12.1.3 Market Breakdown and Data Triangulation
12.2 Data Sources
12.2.1 Secondary Sources
12.2.2 Primary Sources
12.3 Disclaimer
List of Tables
Table 1 Market Segmentation Analysis
Table 2 Global Machine Learning Market Companies with Areas Served
Table 3 Products Offerings Global Machine Learning Market
Table 4 Low Growth Scenario Forecasts
Table 5 Reference Case Growth Scenario
Table 6 High Growth Case Scenario
Table 7 Global Machine Learning Revenue (USD Million) And CAGR (%) By Type (2018-2030)
Table 8 Global Machine Learning Revenue (USD Million) And CAGR (%) By Applications (2018-2030)
Table 9 Global Machine Learning Revenue (USD Million) And CAGR (%) By Regions (2018-2030)
Table 10 Global Machine Learning Revenue (USD Million) By Type (2018-2022)
Table 11 Global Machine Learning Revenue Market Share (%) By Type (2018-2022)
Table 12 Global Machine Learning Revenue (USD Million) By Applications (2018-2022)
Table 13 Global Machine Learning Revenue Market Share (%) By Applications (2018-2022)
Table 14 Global Machine Learning Market Revenue (USD Million) By Regions (2018-2022)
Table 15 Global Machine Learning Market Share (%) By Regions (2018-2022)
Table 16 North America Machine Learning Revenue (USD Million) By Country (2018-2022)
Table 17 North America Machine Learning Revenue (USD Million) By Type (2018-2022)
Table 18 North America Machine Learning Revenue (USD Million) By Applications (2018-2022)
Table 19 Europe Machine Learning Revenue (USD Million) By Country (2018-2022)
Table 20 Europe Machine Learning Revenue (USD Million) By Type (2018-2022)
Table 21 Europe Machine Learning Revenue (USD Million) By Applications (2018-2022)
Table 22 Asia Pacific Machine Learning Revenue (USD Million) By Country (2018-2022)
Table 23 Asia Pacific Machine Learning Revenue (USD Million) By Type (2018-2022)
Table 24 Asia Pacific Machine Learning Revenue (USD Million) By Applications (2018-2022)
Table 25 South America Machine Learning Revenue (USD Million) By Country (2018-2022)
Table 26 South America Machine Learning Revenue (USD Million) By Type (2018-2022)
Table 27 South America Machine Learning Revenue (USD Million) By Applications (2018-2022)
Table 28 Middle East and Africa Machine Learning Revenue (USD Million) By Region (2018-2022)
Table 29 Middle East and Africa Machine Learning Revenue (USD Million) By Type (2018-2022)
Table 30 Middle East and Africa Machine Learning Revenue (USD Million) By Applications (2018-2022)
Table 31 Financial Analysis
Table 32 Global Machine Learning Revenue (USD Million) By Type (2023-2030)
Table 33 Global Machine Learning Revenue Market Share (%) By Type (2023-2030)
Table 34 Global Machine Learning Revenue (USD Million) By Applications (2023-2030)
Table 35 Global Machine Learning Revenue Market Share (%) By Applications (2023-2030)
Table 36 Global Machine Learning Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)
Table 37 North America Machine Learning Revenue (USD)By Country (2023-2030)
Table 38 North America Machine Learning Revenue (USD Million) By Type (2023-2030)
Table 39 North America Machine Learning Revenue (USD Million) By Applications (2023-2030)
Table 40 Europe Machine Learning Revenue (USD Million) By Country (2023-2030)
Table 41 Europe Machine Learning Revenue (USD Million) By Type (2023-2030)
Table 42 Europe Machine Learning Revenue (USD Million) By Applications (2023-2030)
Table 43 Asia Pacific Machine Learning Revenue (USD Million) By Country (2023-2030)
Table 44 Asia Pacific Machine Learning Revenue (USD Million) By Type (2023-2030)
Table 45 Asia Pacific Machine Learning Revenue (USD Million) By Applications (2023-2030)
Table 46 South America Machine Learning Revenue (USD Million) By Country (2023-2030)
Table 47 South America Machine Learning Revenue (USD Million) By Type (2023-2030)
Table 48 South America Machine Learning Revenue (USD Million) By Applications (2023-2030)
Table 49 Middle East and Africa Machine Learning Revenue (USD Million) By Region (2023-2030)
Table 50 Middle East and Africa Machine Learning Revenue (USD Million) By Region (2023-2030)
Table 51 Middle East and Africa Machine Learning Revenue (USD Million) By Type (2023-2030)
Table 52 Middle East and Africa Machine Learning Revenue (USD Million) By Applications (2023-2030)
Table 53 Research Programs/Design for This Report
Table 54 Key Data Information from Secondary Sources
Table 55 Key Data Information from Primary Sources
List of Figures
Figure 1 Market Scope
Figure 2 Porter’s Five Forces
Figure 3 Global Machine Learning Revenue (USD Million) By Type (2018-2022)
Figure 4 Global Machine Learning Revenue Market Share (%) By Type (2022)
Figure 5 Global Machine Learning Revenue (USD Million) By Applications (2018-2022)
Figure 6 Global Machine Learning Revenue Market Share (%) By Applications (2022)
Figure 7 Global Machine Learning Market Revenue (USD Million) By Regions (2018-2022)
Figure 8 Global Machine Learning Market Share (%) By Regions (2022)
Figure 9 North America Machine Learning Revenue (USD Million) By Country (2018-2022)
Figure 10 North America Machine Learning Revenue (USD Million) By Type (2018-2022)
Figure 11 North America Machine Learning Revenue (USD Million) By Applications (2018-2022)
Figure 12 Europe Machine Learning Revenue (USD Million) By Country (2018-2022)
Figure 13 Europe Machine Learning Revenue (USD Million) By Type (2018-2022)
Figure 14 Europe Machine Learning Revenue (USD Million) By Applications (2018-2022)
Figure 15 Asia Pacific Machine Learning Revenue (USD Million) By Country (2018-2022)
Figure 16 Asia Pacific Machine Learning Revenue (USD Million) By Type (2018-2022)
Figure 17 Asia Pacific Machine Learning Revenue (USD Million) By Applications (2018-2022)
Figure 18 South America Machine Learning Revenue (USD Million) By Country (2018-2022)
Figure 19 South America Machine Learning Revenue (USD Million) By Type (2018-2022)
Figure 20 South America Machine Learning Revenue (USD Million) By Applications (2018-2022)
Figure 21 Middle East and Africa Machine Learning Revenue (USD Million) By Region (2018-2022)
Figure 22 Middle East and Africa Machine Learning Revenue (USD Million) By Type (2018-2022)
Figure 23 Middle East and Africa Machine Learning Revenue (USD Million) By Applications (2018-2022)
Figure 24 Global Machine Learning Revenue (USD Million) By Type (2023-2030)
Figure 25 Global Machine Learning Revenue Market Share (%) By Type (2030)
Figure 26 Global Machine Learning Revenue (USD Million) By Applications (2023-2030)
Figure 27 Global Machine Learning Revenue Market Share (%) By Applications (2030)
Figure 28 Global Machine Learning Market Revenue (USD Million) By Regions (2023-2030)
Figure 29 North America Machine Learning Revenue (USD Million) By Country (2023-2030)
Figure 30 North America Machine Learning Revenue (USD Million) By Type (2023-2030)
Figure 31 North America Machine Learning Revenue (USD Million) By Applications (2023-2030)
Figure 32 Europe Machine Learning Revenue (USD Million) By Country (2023-2030)
Figure 33 Europe Machine Learning Revenue (USD Million) By Type (2023-2030)
Figure 34 Europe Machine Learning Revenue (USD Million) By Applications (2023-2030)
Figure 35 Asia Pacific Machine Learning Revenue (USD Million) By Country (2023-2030)
Figure 36 Asia Pacific Machine Learning Revenue (USD Million) By Type (2023-2030)
Figure 37 Asia Pacific Machine Learning Revenue (USD Million) By Applications (2023-2030)
Figure 38 South America Machine Learning Revenue (USD Million) By Country (2023-2030)
Figure 39 South America Machine Learning Revenue (USD Million) By Type (2023-2030)
Figure 40 South America Machine Learning Revenue (USD Million) By Applications (2023-2030)
Figure 41 Middle East and Africa Machine Learning Revenue (USD Million) By Region (2023-2030)
Figure 42 Middle East and Africa Machine Learning Revenue (USD Million) By Region (2023-2030)
Figure 43 Middle East and Africa Machine Learning Revenue (USD Million) By Type (2023-2030)
Figure 44 Middle East and Africa Machine Learning Revenue (USD Million) By Applications (2023-2030)
Figure 45 Bottom-Up and Top-Down Approaches For This Report
Figure 46 Data Triangulation
By Type
By Component
By Enterprise Size
By End-User
By Region