The global deep learning market size is estimated to grow from USD 3.6 billion in 2023 to USD 34.5 billion by 2035, representing a CAGR of 21.9%.
Maximum number (66) of funding instances focused on deep learning were reported in 2020. Further, it is worth highlighting that in 2021, a significant amount of capital worth USD 5.5 billion was raised by three players, namely Databricks, Recursion Pharmaceuticals and Siemens Healthineers, across four funding instances. Foreseeing the future potential of deep learning technology, several investors have actively participated in various funding rounds, which is likely to help propel the growth of this rapidly evolving industry.
Deep Learning Market Key Companies
Key Companies involved in deep learning market are Aegicare, Aiforia Technologies, Ardigen, Berg, Google, Huawei, Merative , Nference, Nvidia, Owkin, Phenomic AI, Pixel AI.It is worth highlighting that companies engaged in this domain have raised a significant amount of capital worth USD 9.6 billion through venture capital rounds (58%). Further, we came across 39 instances of grants provided by both industry and non-industry organizations. This is indicative of the fact that the market is characterized by the presence of established companies as well as new entrants with financial support from venture capitalists and government institutions.
Over the past few years, stakeholders engaged in the deep learning domain have invested significant capital towards the assessment of effectiveness of their proprietary devices / algorithms / software. Companies have been validating their solutions in various clinical studies. The number of such trials and their geographical distribution are two important indicators of the future potential of such solutions for various application areas.
Deep Learning Market Key Geographical Regions
Key Geographical Regions of Deep Learning Market are North America, Europe, Asia Pacific, Rest of the World. Further, as more such solutions reach the validation stage, we believe that the number of clinical trials across different global regions is likely to increase.This domain has witnessed a significant increase in the number of trials, primarily in 2021. The growth can be attributed to the incessant efforts of several industry / non-industry players that are actively developing and evaluating the potential of their deep learning-based products / solutions for applications across wide a variety of disease conditions. Further, majority (63%) of the trials in this domain are currently active. Of these, most (70%) of the studies are currently recruiting patients.
Over the years, several start-ups have established themselves as stakeholders in the deep learning domain.
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Deep Learning Market Segmentation
Key segments of deep learning market are Oncological Disorders, Infectious Diseases, Neurological Disorders, Immunological Disorders, Endocrine Disorders, Cardiovascular Disorders, Respiratory Disorders, Eye Disorders, Musculoskeletal Disorders, Inflammatory Disorders and Other Disorders and many of these startups have undergone several rounds of financing and have invested significant time and effort in exploring the potential of deep learning solutions.
Presently, most of the start-ups (47%) engaged in this domain are based in North America, followed by those located in Europe (40%). Examples of start-ups based in Asia Pacific include (in reverse chronological order of year of establishment) Sravathi AI (2020), Peptris Technologies (2019), Vingyani (2017) and Pharos iBio (2016). It is worth highlighting that according to our proprietary criteria, Aomics emerged as the most active player in this domain.
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