The global deep learning market is growing due to significant breakthroughs in machine learning algorithms and deep learning chipsets. Rapid advancements in high processing power, fast information storage capacity, and parallelization have aided deep learning’s widespread adoption in end-use sectors including healthcare and automotive. In addition, the global market is likely to gain traction throughout the forecast period due to the requirement for organizations to comprehend and analyze visual material in order to get valuable insights.
Increasing use of GPU-accelerated apps in fields of science such as data science and deep learning is owing to the growing importance of these applications. Deep learning neural networks are being used by businesses to extract important insights from massive volumes of data in order to provide new products and improve consumer experience, resulting in increased revenue prospects.
Use of Deep Learning in Big Data Analytics to Drive its Demand in the Market
A crucial element likely to drive global deep learning market’s revenue and profit is the use of cloud-based technology and utilization of deep learning systems in big data analytics. Deep learning is accomplished via the use of an artificial neural network that mimics the human brain and allows the machine to examine data in a systematic fashion. Deep learning systems do not require intervention of human programmer to instruct them what to do, and the massive amounts of data acquired over time serve as fuel for them.
The rising implementation of smart cities is yet another factor expected to fuel growth of the global Deep Learning market. In order to create a smart infrastructure model, deep learning algorithms are utilized, and these techniques assess traffic patterns, energy usage, and make judgments based on the severity of the problem. Deep learning will also be utilized to handle massive amounts of data provided by various sensors, therefore alleviating network congestion.
Due to rising demand for high processing chipsets, which are essential to run deep learning algorithms, the hardware segment is predicted to develop at a rapid growth rate. Owing to its improved power efficiency and potential to overcome the GPU performance gap utilizing numerous FPGAs, the Field Programmable Gate Array (FPGA) segment is predicted to develop significantly.
Deep learning, on the other hand, necessitates high-performance hardware, which is not readily available. Another stumbling block is the cost. In addition, some businesses favor classical optimization to hyperparameter optimization. These issues are projected to limit growth prospects of the global deep learning market in the years to come. The global deep learning market is growing with the use of deep learning technology in cellphones as well as medical image analysis for detection of illnesses including cancer, and also in assistance of virtual patients.
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