Deep Learning Market Forecast to Surpass $296B by 2031
A new report from Mordor Intelligence predicts the global deep learning market will exceed $296 billion by 2031. The market is projected to grow at a compound annual rate of 35.48% between 2026 and 2031. Key drivers include widespread AI adoption, rising investment in generative AI, and increased demand for automation in fields like computer vision and natural language processing.
- Venture capital is the primary funding source for generative AI, with a compound annual growth rate of 43% between 2019 and 2024, reaching a cumulative deal value of $27.3 billion. In 2023 alone, funding for generative AI surged to $22.4 billion, nearly nine times the amount from 2022. - The market for the hardware that powers deep learning is dominated by NVIDIA, which holds an estimated 70% to 95% market share in AI accelerators. Competitors like AMD and Intel hold much smaller portions of the discrete GPU market, with AMD at about 8% and Intel under 1% in early 2025. - In the public sector, deep learning is being applied to identify tax evasion, improve surveillance, track the spread of infectious diseases, and enhance cybersecurity by identifying new threats in real-time. Automation powered by this technology is estimated to have the potential to save the U.S. Government between $3.3 billion and $41.1 billion annually. - For political campaigns, deep learning analyzes text and images from social media to shape public opinion and can be used to target specific voter segments based on their online activity. However, this has raised ethical concerns about the potential for voter manipulation and the spread of misinformation. - The European Union's AI Act is set to become a global standard for AI regulation, much like GDPR did for data privacy. The act categorizes AI systems by risk level and will ban applications deemed to have "unacceptable risk," such as those that manipulate human behavior or perform social scoring. - North America, and specifically the U.S., accounted for the largest regional market share in 2024 at 33.6%. The Asia Pacific region is projected to have the highest compound annual growth rate between 2025 and 2032, driven by emerging economies like China and India. - The software segment, including frameworks and libraries like TensorFlow and PyTorch, represented over 30% of the market share in 2023 and is projected to exceed $80 billion by 2032. Image recognition was the largest application segment, holding over 43% of the market share in 2024. - Key corporate players in the market include hardware manufacturers like NVIDIA, Intel, and Samsung, alongside solution providers such as Google, Microsoft, Amazon Web Services, and IBM. These companies are pursuing growth through collaborations, partnerships, and the launch of new products.
