Self-supervised Learning Market Growth & Trends
The global self-supervised learning market size is anticipated to reach USD 89.68 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 33.4% from 2022 to 2030. Self-supervised learning is a machine learning technique used prominently in Natural Language Processing (NLP), followed by computer vision and speech processing applications. Applications of self-supervised learning include paraphrasing, colorization, and speech recognition.
The COVID-19 pandemic had a positive impact on the market. More businesses adopted AI and Machine Learning as a response to the COVID-19 pandemic. Many prominent market players such as U.S.-based Amazon Web Services, Inc., Google, and Microsoft witnessed a rise in revenue during the pandemic. Moreover, accelerated digitalization also contributed to the adoption of self-supervised learning applications. For instance, in April 2020, Google Cloud, a business segment of Google, launched an Artificial Intelligence (AI) chatbot that provides critical information to fight the COVID-19 pandemic.
Many market players offer solutions for various applications such as text-to-speech and language translation & prediction. Moreover, these players are researching in self-supervised learning. For instance, U.S.-based Meta has been advancing in self-supervised learning research and has developed various algorithms and models. In February 2022, Meta announced new advances in the company’s self-supervised computer vision model SEER. The model is more powerful and is expected to enable the company in building computer vision products.
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Self-supervised LearningMarket Report Highlights
In terms of end-use, the BFSI segment accounted for the largest revenue share of 18.3% in 2021 and is expected to retain its position over the forecast period. This can be attributed to the increasing adoption of technologies such as AI and ML in the segment. The advertising & media segment is likely to expand at the highest CAGR of 33.7 % during the forecast period.
Based on technology, the Natural Language Processing (NLP) segment dominated the market with a share of 38.6% in 2021 and is also expected to grow at the highest CAGR of 34.1% during the forecast period. This can be attributed to the variety and penetration of NLP applications.
North America held the largest share of 31.7% in 2021 and is expected to retain its position over the forecast period. This can be attributed to the presence of a large number of market players in the region. Moreover, the presence of specialists and developed technology infrastructure are aiding the growth of the market.
In March 2022, the Australian government announced an investment of USD 30.5 million for establishing four digital capability and Artificial Intelligence (AI) centers. The government aims to drive the commercialization of Australia’s AI research with this investment.
In July 2021, DataRobot, Inc. announced the acquisition of Algorithmia Inc., a U.S.-based Machine Learning Operations (MLOps) software platform. The platform is made for IT operations specialists’ needs, enabling organizations to address high-volume and complex model production securely and efficiently. DataRobot, Inc. aims to provide customers with a platform for running any machine learning model with this acquisition.
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