The machine learning industry has skyrocketed in recent years, revolutionizing how businesses operate at every level, from decision-making and product innovation to manufacturing and logistics. Despite significant challenges in 2022 and 2023, the market has surged by over 60% since 2020. Still, that is nothing compared to growth projections for the following years.
According to data presented by AltIndex.com, as the fastest-growing segment of the AI industry, machine learning is set to skyrocket by a remarkable 535% and hit over half a trillion dollar value by 2030.
Machine Learning to Outpace AI Industry Growth by 200%
After a challenging couple of years, including revenue dips of 46% in 2022 and 20% in 2023, the machine learning market has recovered spectacularly. Today, it`s the fastest-growing segment of the AI industry, outpacing all other sectors and even the broader market.
According to Statista Market Insights survey, the machine learning market hit almost $80 billion value in 2024, 55% more than last year. All other AI industry segments, including robotics, natural language processing, autonomous and sensor technology, and computer vision, saw much lower growth rates, ranging from 16% to 35%. While 55% is quite impressive, it`s just a fraction of what’s expected in the coming years.
Statistics show the machine learning market will grow at a compound annual growth rate (CAGR) of 36%, reaching a $503 billion value by 2030, or 503% more than this year. This triple-digit percentage speaks for itself, but it`s even more impressive when compared to growth rates in other segments of the AI industry or the broader market.
For instance, the global AI market is expected to skyrocket by 348% in the next six years, 200% less than the machine learning sector. The NLP market size will increase by 330%, while AI robotics and autonomous and sensor technology follow with 276% and 116% increase, respectively.
In global comparison, the United States leads in machine learning growth. Statista expects the US market to skyrocket by 538% and hit a $134 billion value by 2030, making a quarter of the industry total. Although far below in revenue, the Asian machine learning sector will see similar growth. With its large population, diverse sectors, and growing investment in technological infrastructure, the Asian machine learning market will surge by 536% and hit a $96 billion value in the next six years. The European market follows closely with a 535% six-year growth and $127 billion in revenue by 2030.
Machine Learning will Make 60% of AI Market Value by 2030, 20% More than This Year
As more and more businesses increasingly invest in machine learning applications, its market share within the AI industry will expand significantly. According to Statista, machine learning made 42% of the total AI industry`s value in 2024, 10% less than four years ago.
However, with companies and organizations worldwide embracing the technology, its market share will grow by almost 20% and hit 60% by the end of a decade.
