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Reinforcement Learning Market Segmentation by End User (BFSI, Healthcare, Retail, Telecommunication, Government & Defense, Manufacturing, and Energy & Utilities); by Deployment (On-Premise, and Cloud); by Enterprise Size (Large, and Small & Medium Enterprises) – Global Demand Analysis & Opportunity Outlook 2030

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Extensive insights into the Growth of Reinforcement Learning Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Global Reinforcement Learning Market Highlights 2022 – 2030

The global reinforcement learning market is estimated to grow at a CAGR of ~44% over the forecast period, i.e., 2022 – 2030. The growth of the market can be attributed to the increasing adoption of machine learning (ML) and artificial intelligence (AI) systems, and growing application areas of reinforcement learning. In 2020, more than 10% companies around the world were using ML, whereas more than 40% companies adopted AI. Almost 60% of the enterprises currently have machine learning initiatives in the production stage. Along with these, wide implementation of machine learning based solutions by organizations to improve ROI, customer experience and gain a competitive edge in business operations, is also expected to fuel market growth in the near future. Furthermore, rising demand among companies for finding the best possible method to achieve a predefined set of objectives is also projected to provide ample growth opportunities to the market in the upcoming years.

Global-Reinforcement-Learning-Market-Overview

The market is segmented by deployment into on-premise and cloud, out of which, the cloud segment is anticipated to hold the largest share in the reinforcement learning market on account of the benefits offered by cloud-based backup systems such as automated software updates, flexibility, increased collaboration and enhanced disaster recovery. Additionally, on the basis of end user, the segment for Banking, Financial Services, and Insurance (BFSI) industry is assessed to grab the largest market share over the forecast period owing to the huge amount of data generated in this industry vertical and growing demand for effective data management technologies. According to the World Bank, personal remittances worth USD 656.412 billion were received in 2019, up from USD 594.026 billion in 2017. Apart from these, rising requirement to manage complex business process with low overall costs is also evaluated to drive growth to the market segment in the future. CLICK TO DOWNLOAD SAMPLE REPORT

Major Macro-Economic Indicators Impacting the Market Growth

Global-Research-and-Development-Expenditure

The never-ending growth in internet accessibility around the world along with numerous technological advancements comprising 5G, blockchain, cloud services, Internet of Things (IoT), and Artificial Intelligence (AI) among others have significantly boosted the economic growth in the last two decades. As of April 2021, there were more than 4.5 billion users that were actively using the internet globally. Moreover, the growth in ICT sector has significantly contributed towards GDP growth, labor productivity, and R&D spending among other transformations of economies in different nations of the globe. Furthermore, the production of goods and services in the ICT sector is also contributing to the economic growth and development. As per the statistics in the United Nations Conference on Trade and Development’s database, the ICT good exports (% of total good exports) globally grew from 10.816 in 2015 to 11.536 in 2019. In 2019, these exports in Hong Kong SAR, China amounted to 56.65%, 25.23% in East Asia & Pacific, 26.50% in China, 25.77% in Korea, Rep., 8.74% in the United States, and 35.01% in Vietnam. These are some of the important factors that are boosting the growth of the market.

Global Reinforcement Learning Market Regional Synopsis

On the basis of geographical analysis, the global reinforcement learning market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of rising awareness regarding business productivity, growing AI adoption and increasing number of vendors who provide competent machine learning solutions in the region. Moreover, the market in North America is anticipated to garner the largest market share during the forecast period, which can be credited to the increasing investments to perform R&D activities to develop effective reinforcement learning methods and strong presence of major market players in the region. For instance, in 2019, the machine learning application industry in the United States received a funding of more than USD 35 billion.  In addition, early adoption of advanced IT and telecommunication technologies is also projected to drive market growth to this region.

Global-Reinforcement-Learning-Market-Share

The global reinforcement learning market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global reinforcement learning market includes the following segments:

By End User

  • BFSI
  • Healthcare
  • Retail
  • Telecommunication
  • Government & Defense
  • Manufacturing
  • Energy & Utilities

By Deployment

  • On-Premise
  • Cloud

By Enterprise Size

  • Large
  • Small & Medium Enterprises

Growth Drivers

  • Rising Implementation of ML and AI based Systems
  • Increasing Application Areas of Reinforcement Learning

Challenges

  • Lack of Skilled Professionals of Reinforcement Learning

Top Featured Companies Dominating the Market

  • Microsoft Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • SAP SE
  • IBM Corporation
  • Amazon Web Services Inc.
  • SAS Institute Inc.
  • Baidu, Inc.
  • RapidMiner, Inc.
  • TIBCO Software Inc.
  • Intel Corporation
  • Hewlett Packard Enterprise Development LP

 

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