Blockchain Press Releases
Machine Learning Market to Hit $419.94 Billion by 2030: Grand View Research, Inc.
SAN FRANCISCO, July 17, 2023 /PRNewswire/ — The global machine learning market size is anticipated to reach USD 419.94 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 34.8% from 2023 to 2030. The market is experiencing continuous growth, driven by the increasing demand for AI-driven solutions across industries. It is expected to expand further as more organizations recognize the potential of machine learning and invest in its applications. The growing deployment of Edge AI is responsible for market growth. Edge AI reduces the reliance on cloud computing and provides faster response times, improved privacy, and bandwidth efficiency.
Key Industry Insights & Findings from the report:
- The emergence of connected AI is anticipated to make it possible for ML algorithms to learn based on newly available information continuously. These developments are expected to propel the market expansion in the upcoming years. As these technologies continue to advance and mature, they are expected to have a transformative impact on various industries, shaping the way businesses operate, make decisions, and deliver value to customers.
- The advertising & media segment dominated the market with a revenue share of 20.0% in 2022. The advertising and media sector accounted for the largest share in 2022 owing to capabilities such as buyer’s optimization, data processing, and analysis provided by the technology.
- Factors such as advancements in computing power, increased data generation, and the need for automated decision-making drive the demand for machine learning solutions across various industries.
- The Asia Pacific region is expected to grow at the fastest CAGR of 43.5% from 2023 to 2030. The region’s large population, diverse industries, and growing investment in technological infrastructure all contribute to market growth.
Read full market research report, “Machine Learning Market Size, Share & Trends Analysis Report By Component (Hardware, Software, Services), By Enterprise Size, By End-use (Advertising & Media, Healthcare, Retail), By Region, And Segment Forecasts, 2023 – 2030“, published by Grand View Research.
Machine Learning Market Growth & Trends
Numerous companies are using machine learning (ML) in various industries to boost productivity, streamline processes, and facilitate decision-making. ML is used for personalized product recommendations, demand forecasting, fraud detection, inventory management, and pricing optimization. For instance, Netflix, Inc., a U.S.-based media-streaming and video-rental company, uses machine learning to enhance the customer experience. The company has long been using machine learning algorithms to personalize its viewer recommendations. E-commerce firms like Amazon.com, Inc, a U.S.-based multinational technology company, also uses ML for recommendation to boost sales.
Developments such as fine-tuned personalization, hyper-targeting, search engine optimization (SEO), no-code environments, self-learning bots, and others are expected to impact the machine-learning landscape significantly. These developments are responsible for the continuous evolution of machine learning applications, driven by the demand for personalized experiences, improved website rankings, efficient marketing strategies, accessibility, and intelligent automation.
For instance, Google LLC has significantly advanced machine learning, specifically in computer vision. Google’s research division, Google Research, has developed and deployed machine learning models such as the Inception series and the EfficientDet object detection model. These models have significantly enhanced the accuracy and performance of computer vision tasks, including image classification, object detection, and image segmentation.
Many industries in North America have adopted machine learning to gain insights from massive data and improve business operations. Machine learning is used in various sectors such as finance, healthcare, retail, manufacturing, and technology to perform tasks such as fraud detection, personalized marketing, predictive maintenance, and automated customer service. The growing adoption of cloud-based machine learning services in North America propels the market’s growth. The rise of cloud computing platforms, such as Amazon Web Services, Microsoft Azure, and Google Cloud, has made it easier for businesses to access and deploy machine learning tools and infrastructure.
Machine Learning Market Report Scope
|
Report Attribute |
Details |
|
Market size value in 2023 |
USD 52.02 billion |
|
Revenue forecast in 2030 |
USD 419.94 billion |
|
Growth rate |
CAGR of 34.8% from 2023 to 2030 |
|
Base year for estimation |
2022 |
|
Historical data |
2017 – 2021 |
|
Forecast period |
2023 – 2030 |
Machine Learning Market Segmentation
Grand View Research has segmented the global machine learning market based on component, enterprise size, end-use, and region:
Machine Learning Market – Component Outlook (Revenue, USD Billion, 2017 – 2030)
- Hardware
- Software
- Services
Machine Learning Market – Enterprise Size Outlook (Revenue, USD Billion, 2017 – 2030)
- SMEs
- Large Enterprises
Machine Learning Market – End-use Outlook (Revenue, USD Billion, 2017 – 2030)
- Healthcare
- BFSI
- Law
- Retail
- Advertising & Media
- Automotive & Transportation
- Agriculture
- Manufacturing
- Others
Machine Learning Market – Regional Outlook (Revenue, USD Billion, 2017 – 2030)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
- Kingdom of Saudi Arabia (KSA)
- UAE
- South Africa
List of Key Players in the Machine Learning Market
- Amazon Web Services, Inc.
- Baidu Inc.
- H2O.ai.
- Hewlett Packard Enterprise Development LP
- Intel Corporation
- Google LLC
- International Business Machines Corporation
- Microsoft Corporation
- SAS Institute Inc.
- SAP SE
Check out more related studies published by Grand View Research:
- Artificial Intelligence Market – The global artificial intelligence market size is expected to reach USD 1,811.75 billion by 2030, expanding at a CAGR of 37.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. Artificial Intelligence (AI) denotes the concept and development of computing systems capable of performing tasks customarily requiring human assistance, such as decision-making, speech recognition, visual perception, and language translation. AI uses algorithms to understand human speech, visually recognize objects, and process information.
- Deep Learning Market – The global deep learning market size is expected to reach USD 526.7 billion by 2030, expanding at a CAGR of 33.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Deep learning is expected to gain sustainable momentum in the coming years owing to its high computational ability and improved complex data-driven applications. The growing emphasis on big data analytics and the adoption of Artificial Intelligence (AI) in customer-centric services is expected to propel the growth of the deep learning industry over the forecast period.
- Natural Language Processing Market – The global natural language processing market size is estimated to reach USD 439.85 billion by 2030, expanding at a CAGR of 40.4% from 2023 to 2030, according to a new study by Grand View Research, Inc. Machine learning is predicted to play a critical role in natural language processing (NLP) techniques, mostly in text analytics, as AI advances. In the future, unsupervised and supervised learning will enable machine-learning engines to undertake more in-depth assessments. According to their ongoing evolution, social media platforms are expected to play a superior role in business decisions. A company, for instance, can rely on several NLP tools to track customer evaluations, feedback, and comments about their business on social media platforms and in the news around the time of a quarterly report.
Browse through Grand View Research’s Next Generation Technologies Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: [email protected]
Web: https://www.grandviewresearch.com
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DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to reaffirm its commitment to providing ease of access to digital assets for eligible P2P users in Africa at zero fee. Connecting buyers and sellers at no cost, Bybit P2P continues to be the benchmark for cost-effective and convenient trading experiences.
Since its launch in Jan. 2022, Bybit P2P has consistently provided a user-friendly platform for users seeking a safer way to participate in the digital asset class. The services are offered at no costs for merchants and takers in P2P transactions:
- Merchants: Merchants may post advertisements on Bybit P2P for free.
- Takers: Users may place an order through advertisements listed on the P2P platform at no costs. The offer stands across all fiat trading pairs. Third-party fees may incur depending on the payment method chosen, as the payment providers may charge a transaction fee.
P2P Fee Structure (Africa)
|
Taker Fee (Sell Page) |
Maker Fee (Sell Page) |
|
|
Bybit |
0 % |
0 % |
|
Competitor B |
0.5% on completed orders for certain trading pairs |
0 % |
In addition, Bybit has launched an exciting P2P Coupon Giveaway Campaign from now to Jan. 15, 2025. As part of this initiative, users can earn a share of up to 20,000 USDT in rewards by completing tasks such as depositing $100 or trading $50,000 through Bybit P2P. The rewards will be in the form of Bybit P2P coupons to be redeemed in the next purchase, making the zero-fee transactions an even better deal for winners.
“Bybit’s steadfast commitment to contributing to financial inclusion comes in all forms, and keeping our P2P services free for as long as we can, and for as many users as possible, is one of the ways to support the crypto community,” said Joan Han, Sales and Marketing Director at Bybit. “When users come to our platform with the hopes of generating income on their assets, we want to play a supportive role in helping them reach their personal financial goals,” she added.
P2P on Bybit offers an intuitive and cost-effective peer-to-peer trading platform, facilitating the buying and selling of two users’ holdings at an optimal, agreed-upon price between them. With Bybit P2P, users stand to benefit from Bybit’s enterprise-level security and advanced features including comprehensive built-in KYC and KYB verification mechanisms, rigorous asset management protocols, and 24/7 customer service.
Find out more about the event and eligibility at Bybit P2P.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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TAIPEI, Nov. 21, 2024 /PRNewswire/ — KryptoGO, a leading Web3 infrastructure provider, offers an innovative wallet solution to help businesses offer secure and stable crypto payment services without the need for costly in-house development. With its Wallet as a Service (WaaS), KryptoGO enables enterprises to quickly integrate efficient and cost-effective crypto payment solutions while focusing on their business operations.
Why Choose KryptoGO’s Wallet Solution?
Developing a secure, multi-chain crypto wallet from scratch presents significant challenges, including extensive security measures, maintaining fast and reliable transaction speeds, and controlling development and operational costs. A recent PwC global CEO survey highlighted that security concerns, regulatory issues, and operational complexities are key barriers for businesses adopting digital asset solutions. Additionally, Coinbase’s report states that 87% of Fortune 500 executives cited a lack of clear regulations as a significant obstacle in their digital asset investments. KryptoGO’s WaaS addresses these issues by providing a white-label wallet service that businesses can easily integrate, ensuring strong performance and compliance.
Competitive Advantage: Speed and Cost Control
KryptoGO has optimized transaction speeds and minimized costs through extensive benchmarking and performance evaluations. On the TRON blockchain, KryptoGO delivers transaction notifications within 1.2 seconds and reduces transaction fees by at least 20% compared to other wallets. These advantages stem from the team’s expertise in blockchain development and data index optimization, ensuring faster, more efficient, and dependable transactions.
Success Story: Ocean Wallet
One of KryptoGO’s notable successes in customizable, white-label wallet solutions is Ocean Wallet. In less than two months, Ocean Wallet was able to launch a fully functional, competitive crypto wallet app without needing to hire any developer. With KryptoGO’s flexible solution, Ocean Wallet was able to tailor its features to meet the specific needs of its target audience—stablecoins payments in the TRON ecosystem. By leveraging KryptoGO’s expertise, Ocean Wallet was able to deliver a seamless wallet experience with the ideal functionality to support its unique business model, achieving fast market entry and providing seamless crypto payment solutions at the lowest possible cost.
Building the Future of Crypto Payments
For businesses looking to enter Web3 quickly and efficiently, a customizable wallet solution is the key. KryptoGO’s Wallet as a Service enables corporates to adopt crypto with minimal development resources. If you’re also interested in how KryptoGO can support your Web3 business needs, please contact us or visit www.kryptogo.com.
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Blockchain Press Releases
KuCoin Partners with Dubai Sports Council for the Open Padel Cup for Government Institutions
DUBAI, UAE, Nov. 21, 2024 /PRNewswire/ — KuCoin, a leading global crypto exchange, in collaboration with the Dubai Sports Council, has announced the Open Padel Cup for Government Institutions as the Title Sponsor during a press conference held on November 19th, 2024. Scheduled from December 13 to 15, the Open Padel Cup Championship invites all government institutions across the UAE to participate. To promote amateur participation, professional players registered with clubs or the UAE Padel Association are not eligible, ensuring over 300 Emirati amateurs can take part in this competition.
Padel has been gaining traction in Dubai as a fun and engaging way to promote a healthy lifestyle and enrich the local sports culture. The Dubai Sports Council has recently spearheaded the Padel Cup Tournament initiative, partnering with KuCoin for the event, which is organized by Royal Griffin Event and hosted at JUST PADEL facilities.
As the title sponsor, KuCoin has expressed strong confidence in the economic prospects of the Middle East, particularly the UAE and Dubai, especially regarding the immense potential of the cryptocurrency market. Over the past few years, KuCoin has established many meaningful partnerships in Dubai’s vibrant city and has been actively involved in various local activities. Last year, KuCoin sponsored the COP28 Global Climate Change and Green Blockchain Summit and hosted the “KuCoin Green Future Charity Gala Dinner,” supporting various charitable causes.
At the press conference, Harry Chan, the representative from KuCoin highlighted the synergy between sports and blockchain technology, noting that both fields emphasize collaboration and innovation. Padel is a sport that requires high levels of teamwork and strategic thinking, aligns with the decentralized cooperation and innovative spirit of blockchain technology. “We believe that through activities like the Open Padel Cup for Government Institutions, we can better communicate the core values of blockchain technology to the public and inspire more innovative ideas,” said the KuCoin representative, and “help bring in and connect global responsible companies and talents”. This event marks the latest in a series of collaborations by KuCoin in Dubai, underscoring its long-term commitment to the Dubai market.
Fawzia Faridoun, Director of the Community Sports Department at the Dubai Sports Council expressed pleasure in partnering with KuCoin to promote the city’s sports culture and healthy lifestyle, looking forward to deeper cooperation in the future.
About KuCoin
Launched in September 2017, KuCoin is a leading crypto exchange and financial technology platform with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement, KuCoin offers over 800 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 37 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of November 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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