Deep Learning Enterprise Software Spending to Surpass $40 Billion Worldwide by 2024

Enterprises Are Increasingly Focused on Deep Learning as an Enabling Technology, Especially for Data-Intensive Business Processes

Deep learning, which has emerged as one of the most active technology areas within the broader field of artificial intelligence (AI), is attracting an increasing level of attention from industries as diverse as advertising, finance, manufacturing, media, and healthcare.  Deep learning is primarily an enabling technology, making areas like machine perception, big data analytics, and the Internet of Things (IoT) much stronger.  The technology is especially well-suited for businesses that deal with large amounts of data.

According to a recent report from Tractica, cumulative worldwide spending on deep learning software within the enterprise market will total $40.6 billion during the period from 2015 through 2024.  The market intelligence firm forecasts that annual deep learning software revenue will increase from $109 million in 2015 to $10.4 billion in 2024.

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“Deep learning is a technology second only to the internet in its power to disrupt entire industries,” says principal analyst Bruce Daley.  “Like the internet, it can be used to enable a wide variety of innovative business models.  Yet, because of its nature, deep learning will be consistently over-hyped, under-delivered, and controversial.  Consequently, many of its most notable successes will go unheralded.”

Tractica’s report, “Deep Learning for Enterprise Applications”, examines the market for deep learning across 15 industry sectors, including 10-year revenue forecasts for the period from 2015 through 2024.  The report forecasts software revenue, services revenue, and hardware sales, and provides segmentation by delivery method (cloud, device, and data center) as well as world region.  An Executive Summary of the report is available for free download on the firm’s website.

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