Deep Learning Market COVID -19 Impact Research Report with top Players & Growth

Posted by Devanshu Shrivastava on February 15th, 2021

A key trend in the deep learning market presently is the usage of cloud-based platforms. Considering that deep learning both generates and has to analyze vast volumes of unstructured and structured data, the cloud offers a suitable scalability solution, wherein the storage space can be increased and decreased as per requirement. Further, the cloud eliminates the requirement to have on-site IT infrastructure and data storage servers, which further reduces the operational cost. Moreover, cloud applications and programs can be accessed from anywhere, which is important for companies that have their contact centers hundreds of miles from their main office.

Among the various applications deep learning is used for, including image recognition, signal recognition, recommendation engine, data mining, and natural language processing (NLP), its widest use is seen for image recognition, as it is being widely used for analyzing digital images and detecting objects. In the near future, the adoption of this technology will grow the fastest for NLP, owing to the rising need to enhance the communication between humans and computers. NLP integrated with deep learning is being rapidly deployed in voice assistants and chatbots to understand the queries of customers and respond to them quickly.

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On the basis of industry, the categories of the deep learning market are healthcare, banking, financial services, & insurance (BFSI), manufacturing, automotive, retail, and others. Among these, the healthcare category is projected to witness the fastest growth during the forecast period, on account of the increasing usage of deep learning and other AI technologies by doctors and researchers for better diagnosis and treatment. With the incorporation of digital technologies, such as electric health records (EHR), a vast volume of health information is being generated, which has to be studied for actionable insights.

Presently, North America exhibits the highest adoption of deep learning in various industries because of its developed IT sector and technological advancements. Additionally, any new technology is first adopted in this continent, and then it makes its way to other parts of the world. In the years to come, the usage of deep learning will rise at the highest rate in Asia-Pacific (APAC), owing to the strong economic growth, increasing public and private investments in the advancement of the IT infrastructure, and presence of numerous IT startups and contact centers.

Hence, as the number of contact centers increases in various industries, so will the demand for deep learning solutions.

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Devanshu Shrivastava

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Devanshu Shrivastava
Joined: January 31st, 2020
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