Global Big Data Conference

Machine learning technologies and techniques are giving organizations powerful new ways to utilize the vast amounts of data they're collecting. According to several reports, ML spending is increasing at a compound annual growth rate (CAGR) of around 25%. That's benefitting vendors providing ML solutions, which appears to be mostly cloud vendors outside of the HPC segment. According to Zion Market Research's July report, the global market for ML was valued at $1.6 billion in 2017 and is expected to account for $20.8 billion in spending by 2024, which translates into a rather healthy 44% compound annual growth rate (CAGR). That was the outlier in a recent roundup of ML market reports. Market Reports World came up with a similar number in its global tally on ML spending.