The Global Machine Learning Market is expected to expand at 42.08% CAGR during the forecast period 2018–2024. Machine learning is a branch of artificial intelligence (AI) that uses statistical techniques for analytical model building that imparts the computers with the ability to learn from data instead of being explicitly programmed to carry out certain operations. As per the report that has been recently published by Market Research Future (MRFR), the global machine learning market is anticipated to project remarkable growth in the coming years.
The increasing demand for machine learning in various industrial sectors to enhance customer experience and gain a competitive edge in the market is majorly driving the global machine learning market towards rapid expansion. The blistering pace of adoption of artificial intelligence in multiple sectors such as automotive, healthcare, BSFI, government, and others have led to the rise in demand for machine learning services in the global market. The development in the application of machine learning in the manufacturing industry is creating large opportunity for the machine learning service providers, resulting in the growth of the global machine learning market.