Machine learning market size to grow by USD 56,493.47 million between 2022 and 2027; Alibaba Group Holding Ltd., Alphabet Inc., among others identified as key vendors – Technavio

NEW YORK, May 11, 2023 /PRNewswire/ — The machine learning market size o grow by USD 56,493.47 million at a CAGR of 47.81% from 2022 to 2027, according to the latest research report from Technavio. The research report focuses on top companies and crucial drivers, current growth dynamics, futuristic opportunities, and new product/project launches. Discover IT Consulting & Other Services industry potential and make informed business decisions based on qualitative and quantitative evidence highlighted in Technavio reports. View Sample Report

Vendor Landscape

The machine learning market is fragmented. Many local and global vendors offer machine learning with limited product differentiation. However, due to the significant growth of the market, vendors are continuously adopting the latest innovations. Therefore, the threat of rivalry was low, and it is expected to remain the same during the forecast period. Some of the key vendors covered in the report include:

• Alibaba Group Holding Ltd. – The company offers machine learning platforms for AI that rely on Alibaba Cloud distributed computing clusters.
• Alphabet Inc. – The company offers innovative machine learning products and services that will help build, deploy, and scale more effective AI models.
• Amazon.com Inc. – The company offers SageMaker which is a machine learning service enabling data scientists, data engineers, MLOps engineers, and business analysts to build, train, and deploy ML models for any use case, regardless of ML expertise.
• BigML Inc. – The company offers machine learning which provides predictive applications across industries including aerospace, automotive, energy, entertainment, financial services, food, healthcare, IoT, pharmaceutical, transportation, and telecommunications.
• Altair Engineering Inc.
• Alteryx Inc.
• Cisco Systems Inc.
• Fair Isaac Corp.
• H2O.ai Inc.
• Hewlett Packard Enterprise Co.
• Iflowsoft Solutions Inc.
• Intel Corp.
• International Business Machines Corp.
• Microsoft Corp.
• Netguru S.A
• Salesforce.com Inc.
• SAP SE
• SAS Institute Inc.
• TIBCO Software Inc.
• Yottamine Analytics LLC

For the market’s vendor landscape highlights with a comprehensive list of vendors and
their offerings – View Sample Report

Key Market Segmentation

The market is segmented by end-user (BFSI, retail, telecommunications, healthcare, and automotive and others), deployment (cloud-based and on-premise), and geography (North America, Europe, APAC, Middle East and Africa, and South America).

By end-user, the market will observe significant growth in the BFSI segment during the forecast period. BFSI companies are increasingly adopting machine learning solutions to understand their customers and provide customized solutions. The adoption of machine learning solutions is helping BFSI companies in achieving automated processing, data-driven insights about customers, and personalized customer outreach. In addition, the ongoing digital transformation initiatives in the BFSI sector has been driving the growth of the segment.

View Sample Report for more highlights into the market segments.

Regional Market Outlook

North America will account for 36% of the market growth during the forecast period. The growth of the regional market is driven by the increase in data generation from industries such as telecommunications, manufacturing, retail, and energy. Also, the increasing need to ensure data consistency and accuracy, improve data quality, identify data patterns, detect anomalies, and develop predictions among enterprises is another major factor driving the growth of the machine learning market in North America.

For more key highlights on the regional market share of most of the above-mentioned
countries. – View Sample Report

The machine learning market covers the following areas:

• Machine Learning Market Sizing
• Machine Learning Market Forecast
• Machine Learning Market Analysis

Market Dynamics

• Driver – The market is driven by the increasing adoption of cloud-based offerings. Cloud-based services solutions offer various benefits such as minimal cost for computing, network and storage infrastructure, scalability, reliability, and high resource availability. Cloud-based solutions eliminate the need for dedicated IT support teams and hence reduces operating costs. Many such benefits are increasing the adoption of cloud-based offerings among enterprises. Machine learning solutions helps enterprises to scale up the production workload of their projects over cloud with the increase in data. Thus, the increased adoption of cloud-based offerings will drive the growth of the market during the forecast period.
• Trend – The growing number of acquisitions and partnerships is identified as the key trend in the market. Vendors operating in the market are focused on forming strategic alliances with other players to gain a competitive advantage. These growth strategies are allowing vendors to gain access to new clients. Strategic partnerships also provide access to a larger customer base and technologies to help them improve their product portfolio. Moreover, partnerships and acquisitions help vendors to expand their presence in new markets. This trend among vendors will have a positive influence on the market growth over the forecast period.
• Challenge – The shortage of skilled professionals is identified as the major challenge hindering market growth. Most enterprises lack a proper mix of AI and machine learning skillset-based workforce. This has led enterprises to invest more time and money in retaining and training their existing employees. Also, companies working and investing in AI and machine learning face challenges in finding skilled workforces. Such challenges are restricting the growth of the market in focus.

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Key Topics Covered:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global machine learning market 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global machine learning market 2017 – 2021 ($ million)

• 4.2 End-User Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – End-User Segment 2017 – 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Deployment Segment 2017 – 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ million)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user – Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user – Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 BFSI – Market size and forecast 2022-2027 
• Exhibit 34: Chart on BFSI – Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on BFSI – Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on BFSI – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on BFSI – Year-over-year growth 2022-2027 (%)

• 6.4 Retail – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Retail – Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Retail – Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Retail – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Retail – Year-over-year growth 2022-2027 (%)

• 6.5 Telecommunications – Market size and forecast 2022-2027 
• Exhibit 42: Chart on Telecommunications – Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Telecommunications – Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Telecommunications – Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Telecommunications – Year-over-year growth 2022-2027 (%)

• 6.6 Healthcare – Market size and forecast 2022-2027 
• Exhibit 46: Chart on Healthcare – Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Healthcare – Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Healthcare – Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Healthcare – Year-over-year growth 2022-2027 (%)

• 6.7 Automotive and others – Market size and forecast 2022-2027 
• Exhibit 50: Chart on Automotive and others – Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Automotive and others – Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Automotive and others – Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Automotive and others – Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user ($ million)
• Exhibit 55: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments
• Exhibit 56: Chart on Deployment – Market share 2022-2027 (%)
• Exhibit 57: Data Table on Deployment – Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 58: Chart on Comparison by Deployment
• Exhibit 59: Data Table on Comparison by Deployment

• 7.3 Cloud-based – Market size and forecast 2022-2027 
• Exhibit 60: Chart on Cloud-based – Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Cloud-based – Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Cloud-based – Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Cloud-based – Year-over-year growth 2022-2027 (%)

• 7.4 On-premise – Market size and forecast 2022-2027 
• Exhibit 64: Chart on On-premise – Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on On-premise – Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on On-premise – Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on On-premise – Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 68: Market opportunity by Deployment ($ million)
• Exhibit 69: Data Table on Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America – Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America – Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe – Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 APAC – Market size and forecast 2022-2027 
• Exhibit 83: Chart on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on APAC – Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.7 South America – Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America – Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.8 US – Market size and forecast 2022-2027 
• Exhibit 95: Chart on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US – Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.9 China – Market size and forecast 2022-2027 
• Exhibit 99: Chart on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China – Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.10 UK – Market size and forecast 2022-2027 
• Exhibit 103: Chart on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on UK – Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on UK – Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on UK – Year-over-year growth 2022-2027 (%)

• 9.11 Germany – Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany – Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.12 Japan – Market size and forecast 2022-2027 
• Exhibit 111: Chart on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on Japan – Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on Japan – Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Japan – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Alibaba Group Holding Ltd. 
• Exhibit 123: Alibaba Group Holding Ltd. – Overview
• Exhibit 124: Alibaba Group Holding Ltd. – Business segments
• Exhibit 125: Alibaba Group Holding Ltd. – Key offerings
• Exhibit 126: Alibaba Group Holding Ltd. – Segment focus

• 12.4 Alphabet Inc.
• Exhibit 127: Alphabet Inc. – Overview
• Exhibit 128: Alphabet Inc. – Business segments
• Exhibit 129: Alphabet Inc. – Key news
• Exhibit 130: Alphabet Inc. – Key offerings
• Exhibit 131: Alphabet Inc. – Segment focus

• 12.5 Amazon.com Inc.
• Exhibit 132: Amazon.com Inc. – Overview
• Exhibit 133: Amazon.com Inc. – Business segments
• Exhibit 134: Amazon.com Inc. – Key news
• Exhibit 135: Amazon.com Inc. – Key offerings
• Exhibit 136: Amazon.com Inc. – Segment focus

• 12.6 BigML Inc.
• Exhibit 137: BigML Inc. – Overview
• Exhibit 138: BigML Inc. – Product / Service
• Exhibit 139: BigML Inc. – Key offerings

• 12.7 Cisco Systems Inc.
• Exhibit 140: Cisco Systems Inc. – Overview
• Exhibit 141: Cisco Systems Inc. – Business segments
• Exhibit 142: Cisco Systems Inc. – Key news
• Exhibit 143: Cisco Systems Inc. – Key offerings
• Exhibit 144: Cisco Systems Inc. – Segment focus

• 12.8 Fair Isaac Corp.
• Exhibit 145: Fair Isaac Corp. – Overview
• Exhibit 146: Fair Isaac Corp. – Business segments
• Exhibit 147: Fair Isaac Corp. – Key news
• Exhibit 148: Fair Isaac Corp. – Key offerings
• Exhibit 149: Fair Isaac Corp. – Segment focus

• 12.9 H2O.ai Inc.
• Exhibit 150: H2O.ai Inc. – Overview
• Exhibit 151: H2O.ai Inc. – Product / Service
• Exhibit 152: H2O.ai Inc. – Key offerings

• 12.10 Hewlett Packard Enterprise Co. 
• Exhibit 153: Hewlett Packard Enterprise Co. – Overview
• Exhibit 154: Hewlett Packard Enterprise Co. – Business segments
• Exhibit 155: Hewlett Packard Enterprise Co. – Key news
• Exhibit 156: Hewlett Packard Enterprise Co. – Key offerings
• Exhibit 157: Hewlett Packard Enterprise Co. – Segment focus

• 12.11 Iflowsoft Solutions Inc. 
• Exhibit 158: Iflowsoft Solutions Inc. – Overview
• Exhibit 159: Iflowsoft Solutions Inc. – Product / Service
• Exhibit 160: Iflowsoft Solutions Inc. – Key offerings

• 12.12 Intel Corp.
• Exhibit 161: Intel Corp. – Overview
• Exhibit 162: Intel Corp. – Business segments
• Exhibit 163: Intel Corp. – Key news
• Exhibit 164: Intel Corp. – Key offerings
• Exhibit 165: Intel Corp. – Segment focus

• 12.13 International Business Machines Corp. 
• Exhibit 166: International Business Machines Corp. – Overview
• Exhibit 167: International Business Machines Corp. – Business segments
• Exhibit 168: International Business Machines Corp. – Key news
• Exhibit 169: International Business Machines Corp. – Key offerings
• Exhibit 170: International Business Machines Corp. – Segment focus

• 12.14 Microsoft Corp.
• Exhibit 171: Microsoft Corp. – Overview
• Exhibit 172: Microsoft Corp. – Business segments
• Exhibit 173: Microsoft Corp. – Key news
• Exhibit 174: Microsoft Corp. – Key offerings
• Exhibit 175: Microsoft Corp. – Segment focus

• 12.15 Salesforce.com Inc.
• Exhibit 176: Salesforce.com Inc. – Overview
• Exhibit 177: Salesforce.com Inc. – Product / Service
• Exhibit 178: Salesforce.com Inc. – Key news
• Exhibit 179: Salesforce.com Inc. – Key offerings

• 12.16 SAP SE
• Exhibit 180: SAP SE – Overview
• Exhibit 181: SAP SE – Business segments
• Exhibit 182: SAP SE – Key news
• Exhibit 183: SAP SE – Key offerings
• Exhibit 184: SAP SE – Segment focus

• 12.17 SAS Institute Inc.
• Exhibit 185: SAS Institute Inc. – Overview
• Exhibit 186: SAS Institute Inc. – Product / Service
• Exhibit 187: SAS Institute Inc. – Key news
• Exhibit 188: SAS Institute Inc. – Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 189: Inclusions checklist
• Exhibit 190: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 191: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 192: Research methodology
• Exhibit 193: Validation techniques employed for market sizing
• Exhibit 194: Information sources

• 13.5 List of abbreviations 
• Exhibit 195: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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