Global Machine Learning Market Size & Outlook, 2023-2030
Global machine learning market, 2018-2030 (US$M)
Related Markets
Global machine learning market highlights
- The global machine learning market generated a revenue of USD 52,021.8 million in 2023 and is expected to reach USD 419,943.9 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 34.8% by 2030.
- In terms of segment, services accounted for a revenue of USD 27,527.6 million in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, UAE is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 52,021.8 million |
| Market revenue in 2030 | USD 419,943.9 million |
| Growth rate | 34.8% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solution, Services |
Other key industry trends
- In terms of revenue, the North America accounted for 28.1% of the global machine learning market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, UAE is the fastest growing regional market and is projected to reach USD 2,408.8 million by 2030.
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Machine Learning Market Scope
Machine Learning Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global machine learning market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to machine learning market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 52.92% in 2023. Horizon Databook has segmented the Global machine learning market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Machine Learning Component Outlook (Revenue, USD Million, 2018-2030)
- Solution
- Services
- Global Machine Learning Enterprise Size Outlook (Revenue, USD Million, 2018-2030)
- SMEs
- Large Enterprises
- Global Machine Learning End Use Outlook (Revenue, USD Million, 2018-2030)
- BFSI
- Healthcare
- Retail
- Others
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Horizon Databook provides a detailed overview of global-level data and insights on the Global machine learning market , including forecasts for subscribers. This global databook contains high-level insights into Global machine learning market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Global machine learning market size, by regions, 2018-2030 (US$M)
Top 10 countries: Machine learning market size, 2023 (US$M)
Global machine learning market share, by component, 2023 & 2030 (%, US$M)
Machine learning market: Opportunity assessment by country
Global machine learning market, by region, 2023 (US$M)
| Component | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 2,581.0 | 3,876.2 | 5,658.1 | 7,941.4 | 10,848.8 | 14,617.3 | 19,421.2 | 25,440.2 | 32,773.8 | 41,505.2 | 52,015.1 | 64,718.7 | 80,026.9 | 27.5% |
| Europe | 1,877.2 | 2,891.8 | 4,329.7 | 6,233.2 | 8,734.4 | 12,071.5 | 16,451.9 | 22,106.1 | 29,261.4 | 38,147.0 | 49,316.5 | 63,450.5 | 81,351.7 | 31.3% |
| Asia Pacific | 1,491.9 | 2,523.5 | 4,148.6 | 6,558.1 | 10,090.5 | 15,312.8 | 22,915.3 | 33,909.3 | 49,221.9 | 70,116.4 | 98,745.6 | 138,036.7 | 191,866.5 | 43.5% |
| Latin America | 673.9 | 1,090.8 | 1,718.4 | 2,606.9 | 3,854.9 | 5,630.8 | 8,122.8 | 11,570.0 | 16,215.7 | 22,360.4 | 30,550.2 | 41,509.1 | 56,170.3 | 38.9% |
| MEA | 537.2 | 921.5 | 1,487.4 | 2,243.6 | 3,205.2 | 4,389.4 | 5,738.3 | 7,001.9 | 8,283.0 | 9,447.1 | 10,373.4 | 10,849.4 | 10,528.6 | 13.3% |
| Overall | 7,161.2 | 11,303.7 | 17,342.2 | 25,583.1 | 36,733.7 | 52,021.8 | 72,649.5 | 100,027.5 | 135,755.8 | 181,576.0 | 241,000.8 | 318,564.3 | 419,943.9 | 34.8% |
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