Artificial Intelligence
Insights on the Machine Learning Global Market to 2029 – by Application/Vertical, Deployment Mode, Organization Size, Services and Geography
Dublin, Sept. 03, 2021 (GLOBE NEWSWIRE) — The “Machine Learning Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029” report has been added to ResearchAndMarkets.com’s offering.
The global machine learning market is estimated to grow at a CAGR of 43.3% during the forecast period (2021-2029). The major drivers for machine learning market are proliferation in data generation, technological advancements in machine learning, increasing adoption of connected devices and increased adoption in data driven application. Enterprises are awash in data related to their customers, prospects, internal business processes, suppliers, partners and competitors. Often, they can’t control this flood of data and convert it to actionable information for growing revenue, increasing profitability and efficiently operating the business. Organizations of all disciplines across the globe suffer a serious problem of managing data in the form of data retention, understanding dark data, data integration for proper analytics, data access and others.
Volume of Data Collected Now and in Future to Raise Exponentially
Machine learning offers a promising solution to gain economic benefits from the increasing data with the help of predictive analysis and reducing fraud. The volume of data collected by business worldwide is estimated to double every year and lack of understanding of data is cited as a primary reason that overruns project cost, and that may cost business approximately 20% to 35% of their operating revenue. Big data capabilities assist in providing constant changing customers preferences that help companies by assisting them by improving customer’s satisfaction, faster decision making, developing strategies for launching new products and exploring new market.
ML in BFSI Remains Indispensable:
Global machine learning market has been segmented on the basis of verticals, deployment modes, organization size and service. The vertical segment is further sub segmented into banking, financial services, and insurance, retail, telecommunication, healthcare and life sciences, manufacturing, government and defense, energy and utilities and other verticals. BFSI segment leads the vertical segment in terms of revenue in the global machine learning market with around 21.9% market share in 2020. The BSFI segment is primarily driven by growing demand of ML in the BFSI sector to automate the process of loan approval, for fraud prevention, risk management, investment predictions, marketing and others. Prominent banks across the globe including JPMorgan Chase, Wells Fargo, Bank of America, Citibank, U.S. Bank and others have adopted the machine learning to realize the potential benefits of data driven decision.
ML in Healthcare Application Promising Significant Opportunities
The healthcare and life science vertical is anticipated to grow at the highest rate over the forecast period growing at a CAGR of 44.3% over the forecast period. The high growth rate is attributed to the fact that ML solution has wide potentials across healthcare industry. These include patient data & risk analysis, in patient care & hospital management, medical imaging & diagnosis, drug discovery, life style monitoring & management, medical diagnosis & imaging, precision medicine and others. Furthermore, key companies are providing various machine learning systems across healthcare that includes Google Deep Mind Health, IBM Watson and others. Moreover, increasing healthcare expenditure also leverages huge adoption opportunities for the machine learning. According to the Institute of Health Metrics and Evaluations, global healthcare expenditure is expected to reach $18.28 trillion globally by 2040.
NA Leads Revenues APAC to Lead the Growth:
Geographically, global machine learning market has been segmented into North America, Europe, Asia Pacific and Rest of the world (ROW). North America leads the global machine learning market by capturing largest market share in terms of revenue of 36.96% in 2020. The U.S. market for machine learning is primarily driven high adoption of machine learning solutions by both public and private organization, coupled with technological sound infrastructure and proactive government support to artificial intelligence. Furthermore, public as well as private sector are embracing machine learning to realize the benefits of data driven decision which is expected to create lucrative growth opportunities for the machine learning market in North America.
For instance, several companies in the North America region including Walmart, Facebook, Amazon, General Motors, Tesla and others have included machine learning as a part of their marketing strategy, as well as are focusing on deployment of ML to realize operational efficiency within the supply chain. Asia Pacific machine learning system market is anticipated to grow at highest CAGR of 44.1 % during the forecast period. Emergence of machine learning startups, growth in the BFSI, manufacturing and healthcare sector coupled with growing adoption of artificial intelligence by both the private and public sectors along with the investments in artificial intelligence by the governments of countries such as India, China, Japan, etc are the major factors augmenting growth in the machine learning market in Asia Pacific. For instance, China government is focusing on the development of artificial intelligence and machine learning in innovating the abilities of robotics, inventory forecasting and developing driverless car technology in the country.
M&A Remains as Key Strategy to Enhance Market Share:
Merger & acquisition is the primary strategy adopted by companies in global machine learning market. Merger & acquisition is enabling the companies to enhance market through effective leverage of product portfolio and global reach. Product development is the secondary strategy adopted by companies in the global machine learning market. Key market players in this segment include IBM Corporation (New York, US), SAP SE (Walldorf, Germany), SAS Institute Inc. (North Carolina, US), Google, Inc. (California, US), Amazon Web Services Inc. (Washington, US), Baidu, Inc. (Beijing, China), BigML, Inc. (Oregon, US), Fair Isaac Corporation (FICO) (California, US), Hewlett Packard Enterprise Development LP (HPE) (California, US), Intel Corporation (California, US), KNIME.com AG (Zurich, Switzerland), RapidMiner, Inc. (Massachusetts, US), Angoss Software Corporation (Toronto, Canada), H2O.ai (California, US), Alpine Data (California, US), Domino Data Lab, Inc. (California, US), Dataiku (Paris, France), Luminoso Technologies, Inc. (Massachusetts, US), TrademarkVision (Pennsylvania, US), Fractal Analytics Inc. (New Jersey, US), TIBCO Software Inc. (California, US), Teradata (Ohio, US), Dell Inc. (Texas, US), and Oracle Corporation (California, US) and others.
Key questions answered in this report
- What are the key market segments in current scenario and in the future by product categories?
- What are the key market segments in current scenario and in the future by regions?
- What is the key impact of Covid-19 over market revenues and market determinants in the global machine learning market?
- What are the primary and secondary macro and micro factors influencing the market growth currently and during the forecast period?
- What are the primary and secondary macro and micro factors deterring the market growth currently and during the forecast period?
- How to overcome the current market challenges and leverage the opportunities in each of the market segment?
- Who are the key players in the operational predictive maintenance market and what are their key product categories and strategies?
- What are the key strategies – mergers/acquisitions/R&D/strategic partnerships etc that companies are deploying to enhance market revenues and growth?
Key Topics Covered:
Chapter 1. Preface
Chapter 2. Executive Summary
Chapter 3. Market Determinants
3.1. Market Drivers
3.1.1. Proliferation in Data Generation
3.1.2. Technological Advancements in Machine Learning
3.1.3. Increasing Adoption of Connected Devices
3.1.4. Increased Adoption in Data Driven Application
3.2. Market Restraint
3.2.1. Sensitive Data Security
3.2.2. Computation Limitations
3.3. Market Opportunity
3.3.1. Increasing Demand for intelligent Business Processes
3.3.2. High Demand From Different End Users
3.4. Market Challenge
3.4.1. Ethical Implications of Algorithms Deployed
3.4.2. Prone To Hardware and Software Malfunction
Chapter 4. Global Machine Learning Market by Application/Vertical 2019-2029 ($ Million)
4.1. Global Banking, Financial Services, and insurance Market 2019-2029 ($ Million)
4.2. Global Healthcare and Life Sciences Market 2019-2029 ($ Million)
4.3. Global Retail Market 2019-2029 ($ Million)
4.4. Global Telecommunication Market 2019-2029 ($ Million)
4.5. Global Government and Defense Market 2019-2029 ($ Million)
4.6. Global Manufacturing Market 2019-2029 ($ Million)
4.7. Global Energy and Utilities Market 2019-2029 ($ Million)
4.8. Global Other Verticals Market 2019-2029 ($ Million)
Chapter 5. Global Machine Learning Market by Deployment Mode 2019-2029 ($ Million)
5.1. Global Cloud Market 2019-2029 ($ Million)
5.2. Global On-Premises Market 2019-2029 ($ Million)
Chapter 6. Global Machine Learning Market by Organization Size 2019-2029 ($ Million)
6.1. Global Large Enterprises Market 2019-2029 ($ Million)
6.2. Global Small and Medium-Sized Enterprises Market 2019-2029 ($ Million)
Chapter 7. Global Machine Learning Market by Services 2019-2029 ($ Million)
7.1. Global Professional Services Market 2019-2029 ($ Million)
7.2. Global Managed Services Market 2019-2029 ($ Million)
Chapter 8. North America Machine Learning Market 2019-2029 ($ Million)
Chapter 9. Europe Machine Learning Market 2019-2029 ($ Million)
Chapter 10. Asia-Pacific Machine Learning Market 2019-2029 ($ Million)
Chapter 11. Rest of World Machine Learning Market 2019-2029 ($ Million)
Chapter 12. Company Profile
12.1. Amazon Web Services inc.
12.1.1. Overview
12.1.2. Product Portfolio
12.1.3. Strategic initiatives
12.1.4. SCOT Analysis
12.1.5. Strategic Analysis
12.2. Baidu inc.
12.2.1. Overview
12.2.2. Product Portfolio
12.2.3. SCOT Analysis
12.2.4. Strategic Analysis
12.3. Dell, inc.
12.3.1. Overview
12.3.2. Product Portfolio
12.3.3. Strategic initiatives
12.3.4. SCOT Analysis
12.3.5. Strategic Analysis
12.4. Fair Issac Corporation (Fico)
12.4.1. Overview
12.4.2. Product Portfolio
12.4.3. Strategic Initiatives
12.4.4. SCOT Analysis
12.4.5. Strategic Analysis
12.5. Fractal Analytics
12.5.1. Overview
12.5.2. Product Portfolio
12.5.3. Strategic initiatives
12.5.4. SCOT Analysis
12.5.5. Strategic Analysis
12.6. Google
12.6.1. Overview
12.6.2. Product Portfolio
12.6.3. Strategic initiatives
12.6.4. SCOT Analysis
12.6.5. Strategic Analysis
12.7. Hewlett Packard Enterprise (Hpe)
12.7.1. Overview
12.7.2. Product Portfolio
12.7.3. SCOT Analysis
12.7.4. Strategic Analysis
12.8. Ibm Corporation
12.8.1. Overview
12.8.2. Product Portfolio
12.8.3. Strategic initiatives
12.8.4. SCOT Analysis
12.8.5. Strategic Analysis
12.9. intel Corporation
12.9.1. Overview
12.9.2. Product Portfolio
12.9.3. Strategic initiatives
12.9.4. SCOT Analysis
12.9.5. Strategic Analysis
12.10. Microsoft Corporation
12.10.1. Overview
12.10.2. Product Portfolio
12.10.3. Strategic initiative
12.10.4. SCOT Analysis
12.10.5. Strategic Analysis
12.11. Oracle Corporation
12.11.1. Overview
12.11.2. Product Portfolio
12.11.3. SCOT Analysis
12.11.4. Strategic Analysis
12.12. Sap Se
12.12.1. Overview
12.12.2. Product Portfolio
12.12.3. Strategic initiatives
12.12.4. SCOT Analysis
12.12.5. Strategic Analysis
12.13. The information Bus Company (Tibco) Software inc.
12.13.1. Overview
12.13.2. Product Portfolio
12.13.3. Strategic initiative
12.13.4. SCOT Analysis
12.13.5. Strategic Analysis
12.14. Trademarkvision
12.14.1. Overview
12.14.2. Product Portfolio
12.14.3. Strategic initiatives
12.14.4. SCOT Analysis
12.14.5. Strategic Analysis
12.15. Teradata Corporation
12.15.1. Overview
12.15.2. Product Portfolio
12.15.3. SCOT Analysis
12.15.4. Strategic Analysis
For more information about this report visit https://www.researchandmarkets.com/r/duo4sj
Artificial Intelligence
Wego and Tourism Authority of Thailand Partner for The Fourth Consecutive Year, Showcasing the Beauty of Thailand
DUBAI, UAE, April 25, 2024 /PRNewswire/ — Wego, the largest online travel marketplace in the Middle East and North Africa (MENA), is thrilled to announce its continued partnership with the Tourism Authority of Thailand (TAT) for the fourth consecutive year, showcasing the unparalleled beauty and charm of Thailand as a premier travel destination.
Building upon the success of their previous collaborations, Wego and the Tourism Authority of Thailand are once again teaming up to promote Thailand’s diverse attractions, rich culture, and breathtaking landscapes to travelers worldwide. Through this strategic partnership, Wego aims to inspire travelers to explore the wonders of Thailand and experience its unique blend of tradition and modernity.
Over the past campaigns, Wego and the Tourism Authority of Thailand have successfully amplified Thailand’s appeal as a top travel destination, reaching millions of travelers and driving significant interest in visiting the country. From its pristine beaches and vibrant cities to its lush jungles and cultural heritage sites, Thailand offers an array of experiences that cater to every traveler’s preferences.
“We are delighted to continue our partnership with the Tourism Authority of Thailand for the fourth consecutive campaign,” said Mamoun Hmedan, Chief Business Officer, Wego. “Thailand is a beloved destination for travelers worldwide, and we are committed to showcasing its beauty and diversity through our platform. Together with the Thailand Tourism Board, we look forward to inspiring even more travelers to explore all that Thailand has to offer.”
The success of the previous campaigns underscores the effectiveness of Wego and the Thailand Tourism Board’s collaborative efforts in promoting Thailand as a must-visit destination. By leveraging Wego’s extensive reach and innovative marketing capabilities, the partnership aims to further elevate Thailand’s profile and attract more travelers to experience the magic of the Land of Smiles.
“We are thrilled to continue our partnership with Wego for the fourth campaign,” said Mr. Chaiwat Tamthai, Director of TAT Dubai office. “Thailand offers an unparalleled travel experience, from its stunning beaches and vibrant cities to its rich cultural heritage. Through our collaboration with Wego, we are excited to showcase the beauty of Thailand to travelers in the MENA region and invite them to discover the wonders of our country.”
As travelers seek unforgettable experiences and breathtaking landscapes, Wego and the Tourism Authority of Thailand are committed to showcasing Thailand’s unique charm and allure, inviting travelers to embark on an unforgettable journey to this enchanting destination.
About Wego
Wego provides award-winning travel search websites and top-ranked mobile apps for travelers living in the Asia Pacific and the Middle East regions. Wego harnesses powerful yet simple to use technology that automates the process of searching and comparing results from hundreds of airlines, hotels, and online travel agency websites.
Wego presents an unbiased comparison of all travel products and prices offered in the marketplace by merchants, both local and global, and enables shoppers to quickly find the best deal and place to book whether it is from an airline or hotel directly or with a third-party aggregator website.
Wego was founded in 2005 and is dual headquartered in Dubai and Singapore with regional operations in Bangalore, Riyadh, Cairo, Lahore, and Kuala Lumpur.
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Artificial Intelligence
Building Energy Management Systems Market Projected to Reach $67.69 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 24, 2024 /PRNewswire/ — The report titled “Building Energy Management Systems Market by Component (Hardware, Services, Software), Type (Integrated Building Energy Management Systems, Standalone Building Energy Management Systems), Application, Deployment Mode, End-Use – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $34.52 billion in 2023 to reach $67.69 billion by 2030, at a CAGR of 10.09% over the forecast period.
“Revolutionizing Energy Efficiency Globally With The Evolution of Building Energy Management Systems (BEMS)”
In an era where energy conservation and efficiency have become paramount, building energy management systems (BEMS) are at the forefront of this transformation, offering solutions that monitor, control, and optimize energy usage within buildings. These advanced systems, leveraging real-time data analytics, automate energy control, enhance energy savings, reduce costs, and contribute to a greener planet. Primarily utilized in commercial spaces, residential areas, and industrial sectors, BEMS has a broad application scope, covering HVAC, lighting, and security systems. Factors driving the expansion of the BEMS market include escalating energy expenses, heightened awareness of environmental impacts, and the increasing incorporation of Internet of Things (IoT) and cloud-based technologies, coupled with supportive government initiatives promoting energy-efficient infrastructures. Although challenges such as high initial costs and technology integration barriers exist, the advent of AI and IoT technologies within BEMS heralds a future of predictive energy management and remote operational capabilities, with a growing emphasis on integrating renewable energy sources. Regions such as the United States, Canada, the European Union, and emerging economies such as China and India are witnessing significant growth in BEMS adoption, spurred by regulatory policies and a shift towards sustainable building practices. This global movement toward BEMS signals a step toward reducing carbon footprints and highlights the collective effort to embrace technology for a sustainable future.
Download Sample Report @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
“Harnessing Energy Management for Sustainability and Efficiency”
Data centers are pivotal infrastructures in the digital transformation era, consuming up to 50 times more energy than typical commercial spaces. This energy demand positions data centers as key contributors to the U.S.’s overall electricity consumption. Recognizing this, implementing building energy management systems (BEMS) is crucial in mitigating the environmental impact and operational costs associated with data centers. BEMS optimizes cooling systems to prevent equipment overheating, thereby enhancing energy efficiency by leveraging real-time data. Such systems reduce the power usage effectiveness (PUE) ratio, highlighting a move toward more sustainable consumption patterns and ensuring data centers’ operational continuity. Integrating seamlessly with existing infrastructure, BEMS offers a comprehensive approach to energy management, enabling more innovative cooling, efficient power usage, and predictive maintenance. This transition highlights a commitment to environmental responsibility and fosters operational efficiency, setting a new standard for data center operations worldwide.
“Revolutionizing Building Efficiency With Advanced Energy Management Systems Optimized Usage”
In push toward sustainability, building energy management systems (BEMS) stands at the forefront of innovation, integrating sophisticated hardware such as sensors, actuators, controllers, and more to manage and reduce energy consumption in buildings meticulously. These systems work in concert to monitor environmental conditions and adjust heating, ventilation, and air conditioning (HVAC) settings in real time, leading to significant energy savings. BEMS provides valuable data that helps identify savings opportunities, while networking tools ensure seamless communication between devices by precisely tracking energy flow through meters. Servers process vast amounts of data, enabling detailed analysis and actionable insights to refine energy use further. Additionally, comprehensive services, including customized consultations and dedicated support, ensure that each BEMS is tailored to a building’s unique needs, providing efficient operation and extended system longevity. BEMS exemplifies the strategic shift toward more sustainable and operationally excellent building management through the collaborative synergy of hardware, software, and expert services.
Request Analyst Support @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
“Schneider Electric SE at the Forefront of Building Energy Management Systems Market with a Strong 13.97% Market Share”
The key players in the Building Energy Management Systems Market include Schneider Electric SE, Honeywell International Inc., Azbil Corporation, Emerson Electric Co., Johnson Controls International PLC, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Building Energy Management Systems Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Building Energy Management Systems Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Building Energy Management Systems Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
Ask Question to ThinkMi @ https://app.360iresearch.com/library/intelligence/building-energy-management-systems
“Dive into the Building Energy Management Systems Market Landscape: Explore 180 Pages of Insights, 566 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsBuilding Energy Management Systems Market, by ComponentBuilding Energy Management Systems Market, by TypeBuilding Energy Management Systems Market, by ApplicationBuilding Energy Management Systems Market, by Deployment ModeBuilding Energy Management Systems Market, by End-UseAmericas Building Energy Management Systems MarketAsia-Pacific Building Energy Management Systems MarketEurope, Middle East & Africa Building Energy Management Systems MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/building-energy-management-systems
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Home Energy Management System Market – Global Forecast 2024-2030Energy Management System Market – Global Forecast 2024-2030Intelligent Building Automation Technologies Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
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Artificial Intelligence
Terra Drone, Unifly, and Aloft Launch UTM Development for AAM Targeting Global Markets
TOKYO, April 25, 2024 /PRNewswire/ — Terra Drone Corporation, a leading drone and Advanced Air Mobility (AAM) technology provider headquartered in Japan, announced today the launch of joint development with its Group companies Unifly NV (“Unifly”) and Aloft Technologies Inc. (“Aloft”) focused on UAS Traffic Management (UTM) for AAMs targeting global markets. Terra Drone has been making strides in its pioneering UTM business via strategic investments in Unifly, a leading UTM technology provider based in Belgium, and Aloft, which has the top UTM market share in the U.S. This collaboration marks the world’s first-ever joint UTM development for AAMs by multiple companies with extensive track records in UTM implementation and operation.
The three companies pursue joint UTM development to capitalize on the rapid global progress in electric vertical take-off and landing aircrafts (eVTOLs), set to revolutionize transportation. Morgan Stanley forecasts the Urban Air Mobility (UAM) market to reach $1 trillion by 2040 and $9 trillion by 2050 (1), with eVTOLs gaining global recognition through test flights and prototype showcases.
The companies proudly announce initiatives to enhance their existing UTM platforms in anticipation of the surge in eVTOL aircraft and drone activities. The shared vision for the UTM platform is to enable safe and efficient flight operations for eVTOLs and drones in the foreseeable future.
Recognizing the evolving needs of the AAM industry, they are dedicated to extending their platform by incorporating crucial additional functions. These enhancements, designed with automation at their core, aim to streamline operational efficiencies and pave the way for the integration of their increasingly automated UTM technology into the design and operational framework of AAMs. Through these efforts, they aim to set new standards in UTM and to facilitate the seamless integration of eVTOLs and drones into the national airspace, bolstering the potential for the AAM industry.
Through this initiative, they aim to build a global UTM infrastructure that kickstarts the AAM industry worldwide, creating a cohesive ecosystem that supports AAM growth and addresses broader challenges of urban mobility, sustainability, and air traffic safety.
Notes to Editor:
Research by Morgan Stanley in a report titled “eVTOL/Urban Air Mobility TAM Update: A Slow Take-Off, But Sky’s the Limit” https://advisor.morganstanley.com/the-busot-group/documents/field/b/bu/busot-group/Electric%20Vehicles.pdf]
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