Deep Learning Market | Growing Application of Deep Learning to Boost the Market Growth | Technavio
The deep learning market size is poised to grow by USD 7.2 billion during 2020-2024, progressing at a CAGR of almost 45% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
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Technavio has announced its latest market research report titled Global Deep Learning Market 2020-2024 (Graphic: Business Wire)
Deep learning is popularly used in machine learning, which involves the use of artificial neural networks with several degrees of layers. Moreover, each of these layers has a certain degree of functionality and is mainly used for representing vast amounts of data to ease the process of decision making. Furthermore, the application of deep learning-powered applications widens as massive volumes of digital data are produced at an unprecedented rate across industries. Additionally, the increase in funding in the field of deep learning has encouraged several start-ups to apply this technology across a wide range of industry verticals. For instance, fraud detection, visual recognition, logistics, insurance, and agriculture are some of the application areas of deep learning. Therefore, the increasing number of startups, coupled with the widening application of deep learning, will drive the growth of the global deep learning market during the forecast period.
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Growing Emphasis on Cloud-based Deep Learning will be a Key Market Trend
There is a growing emphasis on cloud-based deep learning, one of the critical deep learning market trends, as it provides support for scalability, visualization, and storage of massive amounts of structured and unstructured data. The use of cloud computing in deep learning allows the integration of large datasets for training algorithms. Owing to the database scalability of cloud computing, deep learning networks can take advantage of multiple processors and help distribute workloads efficiently across different processor types. Cloud computing in deep learning also helps users speed up the training of deep learning models by using clusters of GPUs and CPUs to perform complex matrix operations.
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Deep Learning Market 2020-2024: Key Highlights
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PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: MARKET LANDSCAPE
PART 04: MARKET SIZING
PART 05: FIVE FORCES ANALYSIS
PART 06: MARKET SEGMENTATION BY TYPE
PART 07: CUSTOMER LANDSCAPE
PART 08: GEOGRAPHIC LANDSCAPE
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
PART 11: MARKET TRENDS
PART 12: VENDOR LANDSCAPE
PART 13: VENDOR ANALYSIS
PART 14: APPENDIX
PART 15: EXPLORE TECHNAVIO
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