How big is the market for machine learning?
Table of Contents
How big is the market for machine learning?
Although machine learning is one part of the greater AI market, it is the most commonly implemented form of AI and growing rapidly in business. The machine learning market reached a value of about $1.41 billion in 2020 and is expected to reach $8.81 billion by 2025, according to 360 Research Reports.
Is machine learning oversaturated 2020?
At this stage (April 2020), none of the two fields are “oversaturated”. Good or bad, much of technology innovation these days is based on software, and a noticeable part of the innovation involves machine learning, hence both areas are in high demand.
How fast is machine learning growing?
Globally, machine learning jobs are projected to be worth almost $31 billion by 2024. That’s an annual growth rate of more than 40\% over a six-year period.
How big is the artificial intelligence market?
USD 62.35 billion
The global artificial intelligence market size was valued at USD 62.35 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 40.2\% from 2021 to 2028.
How much does AI sell for?
If your company uses a third-party AI software, like for a pre-built chatbot, expect to pay up to $40,000 per year….AI pricing in 2021.
| AI Type | Cost |
|---|---|
| Custom AI solution | $6000 to $300,000 / solution |
| Third-party AI software | $0 to $40,000 / year |
What is the global machine learning market size?
The global machine learning market size was valued at USD 6.9 billion in 2018 and is anticipated to register a CAGR of 43.8\% from 2019 to 2025. Emerging technologies such as artificial intelligence are changing the way industries and humans work.
What is the demand for machine learning services?
Demand for machine learning services has been on a rise in recent years. Managed services help customers manage their ML tools and deal with varied dependency stacks. Based on enterprise size, the machine learning market is categorized into Small and Medium Enterprises (SMEs) and large enterprises.
Is machine learning gaining traction in the AI market?
Various tech firms are investing in this filed to develop AI platforms, while various startups are focusing on niche domain solutions. With this rapid development, AI techniques such as machine learning are gaining significant traction in the market. Machine learning is a subset of artificial intelligence.
Why machine learning is the future of cyber security?
Further, as cyber threats grow more common and advanced, Machine learning algorithms help companies and security teams to anticipate, track, and recognize cyber attacks more rapidly. Thus, integrating advanced learning capabilities into analytics-driven solutions is likely to be a growing market trend.