(MENAFN- Alliance News) Report Ocean published a recovery-based report for Middle East and Africa Machine LearningMarket that provides crucial details on company opportunities, growth plans, trends, innovations, the competitive landscape in 2022, and the geographic outlook. Based on relevant market and regional segmentation, a thorough assessment of this worldwide market includes the historical analysis of this market (from 2023 to 2032) and develops reliable and approximative timeline estimations up to 2032.
The value of the machine learning market in Middle East and Africa is expected to reach USD 0.50 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 29.1% during 2018-2023. Machine learning the ability of computers to learn through experiences to improve their performance. Separate algorithms and human intervention are not required to train the computer. It merely learns from its past experiences and examples. In recent times, this market has gained utmost importance due to the increased availability of data and the need to process the data to obtain meaningful insights.
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The market can be classified into four primary segments based on components, service, organization size and application.
Based on region , the market is segmented into The UAE, Saudi Arabia, South Africa, Rest of Middle East and Africa. Based on components the market can be segmented into software tools, cloud and web-based application programming interfaces (APIs) and others. Based on service , the sub-segments are composed of professional services and managed services. Based on organization size, the sub-segments include small and medium enterprises (SMEs) and large enterprises. Based on application , the market is divided into the sub-segments, banking, financial services and insurance (BFSI), automotive, healthcare, government and others.
The use of machine learning in healthcare has gained grounds in recent times. The hospitals in the Middle East are making use of the machine learning technologies for making a diagnosis of the diseases that may crop up in future, and for more precise analysis, prevention and treatment of individuals.
Key growth factors
The labour intensive sectors like retail and healthcare have taken up the use of machine learning to provide better consumer experiences. The urge for automation in these sectors is driving the machine learning market in the Middle East and Africa.
The high growth in the start-up culture with the government encouraging innovation has led them to make ample amount of investments in machine learning technologies, which in turn is driving the machine learning market.
Threats and key players
The adoption of machine learning in all the industries is going to be a slow process in Africa until and unless infrastructure and consumer spending power improves.
The unavailability of cohorts with adequate machine learning skills act as a barrier to the further development in the machine learning market.
The key players are Google Inc., Microsoft, IBM Watson, Amazon, and Intel.
What is covered in the report?
1. Overview of the machine learning market in the Middle East and Africa.
2. Market drivers and challenges in the machine learning in the Middle East and Africa.
3. Market trends in the machine learning in the Middle East and Africa.
4. Historical, current and forecasted market size data for the machine learning market in the Middle East and Africa.
5. Historical, current and forecasted market size data for the components segment (software tools, cloud and web-based APIs and others).
6. Historical, current and forecasted market size data for the service segment (professional services and managed services).
7. Historical, current and forecasted market size data for the organisation size segment (SMEs and large enterprises).
8. Historical, current and forecasted market size data for the application segment (BFSI, automotive, healthcare, government and others)
9. Historical, current and forecasted regional (The UAE, Saudi Arabia, South Africa, Rest of the Middle East and Africa) market size data for machine learning market.
10. Analysis of machine learning market in the Middle East & Africa by value chain.
11. Analysis of the competitive landscape and profiles of major competitors operating in the market.
1. Understand the demand for machine learning to determine the viability of the market.
2. Determine the developed and emerging markets for machine learning.
3. Identify the challenge areas and address them.
4. Develop strategies based on the drivers, trends and highlights for each of the segments.
5. Evaluate the value chain to determine the workflow.
6. Recognize the key competitors of this market and respond accordingly.
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth.
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
North America (U.S. & Canada) Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa)
List of Factors Covered in the Report are:
Major Strategic Developments: The report abides by quality and quantity. It covers the major strategic market developments, including R&D, M&A, agreements, new products launch, collaborations, partnerships, joint ventures, and geographical expansion, accompanied by a list of the prominent industry players thriving in the market on a national and international level.
Key Market Features:
Major subjects like revenue, capacity, price, rate, production rate, gross production, capacity utilization, consumption, cost, CAGR, import/export, supply/demand, market share, and gross margin are all assessed in the research and mentioned in the study. It also documents a thorough analysis of the most important market factors and their most recent developments, combined with the pertinent market segments and sub-segments.
List of Highlights & Approach
The report is made using a variety of efficient analytical methodologies that offers readers an in-depth research and evaluation on the leading market players and comprehensive insight on what place they are holding within the industry. Analytical techniques, such as Porters five forces analysis, feasibility studies, SWOT analyses, and ROI analyses, are put to use to examine the development of the major market players.
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