Machine Learning Software Market Scope
Machine Learning software can extract insights from data and create logical models based on these insights. These models can be subsequently applied by software to future process automation. Machine Learning allows the systems to make decisions autonomously without any external support. These decisions are made when the machine is able to learn from the data and understand the underlying patterns that are contained within it. Then, through pattern matching and further analysis, they return the outcome which can be a classification or a prediction.
The market study is being classified by Type (Supervised Learning, Unsupervised Learning and Reinforcement Learning), by Application (Image Recognition, Speech Recognition, Medical Diagnosis, Statistical Arbitrage, Learning Associations, Prediction and Others) and major geographies with country level break-up.
The machine learning software market is fragmented as the market has a number of companies that offer various software and there are lots of new companies entering the machine learning software market. The companies are exploring the market by expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.The Players having a strong hold in the market are Microsoft Corporation, IBM Corporation, SAP SE, and SAS Institute Inc.. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Machine Learning Software market throughout the predicted period.
Microsoft Corporation (United States), IBM Corporation (United States), SAP SE (Germany), SAS Institute Inc. (United States), Google, Inc. (United States), Amazon Web Services Inc. (United States), Baidu, Inc. (China), ACI Worldwide Inc. (United States), BigML, Inc. (United States), Fair Isaac Corporation (FICO) (United States) and Intel Corporation (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are KNIME.com AG (Switzerland), RapidMiner, Inc. (United States) and Hewlett Packard Enterprise Development LP (HPE) (United States).
AdvanceMarketAnalytics has segmented the market of Global Machine Learning Software market by Type, Application and Region.
On the basis of geography, the market of Machine Learning Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Leaders and their expansionary development strategies
On 12th December 2019, Qualitest, a leading software testing, and quality assurance company, has acquired AI and machine learning company AlgoTrace for an undisclosed amount. This acquisition marks the first step of Qualitest's growth strategy following an investment from Bridgepoint earlier this year.
On 10th March 2020, ACI Worldwide, a leading provider of real-time electronic payment and banking solutions, has announced the launch of its new Incremental Learning technology – an innovative industry-first approach to machine learning that will enhance fraud protection for merchants and financial institutions and their customers.
- Proliferation in Data Generation
- Improved connectivity and increase in data from IoT platforms
- Increasing Adoption of Cloud-based Technologies by IT Industry
- Rising Adoption in Modern Applications
- Technological Advancement and Development in Machine Learning by Various Companies
- Increasing Demand for Intelligent Business Processes
- Lack of skilled consultants and professionals to Deploy Machine Learning services
- Integration into the Enterprises
- Sensitive Data Security Threats
- Ethical Implications of the Algorithms Deployed
Key Target AudienceMachine Learning Software Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
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