Self Supervised Learning Market Expected to Reach $126.8 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Self Supervised Learning Market," The self supervised learning market size was valued at $7.5 billion in 2021, and is estimated to reach $126.8 billion by 2031, growing at a CAGR of 33.1% from 2022 to 2031.

Self-supervised learning (SSL) is an evolving machine learning technique poised to solve challenges posed by the over-dependence of labeled data. For many years, building intelligent systems using machine learning methods has been largely dependent on good quality labeled data. Consequently, cost of high-quality annotated data is a major bottleneck in the overall training process. As per IBM’s global AI adoption index 2022 report, 34% of respondents believed that a lack of AI skills restrain adoption of AI for businesses. Self-supervised learning is at a growing stage that requires skilled workforce for development. Hence, lack of skilled workforce is expected to restrain the self supervised learning market growth.

Furthermore, increase automation in banking processes and increase use of internet and connected devices is boosting the growth of the global self supervised learning market. In addition, rise in demand for predictive analytics is positively impacts self supervised learning market growth. However, lack of skilled workforce for machine learning is hampering the self-supervised learning market growth. On the contrary, rapid changes in business model technology is expected to offer remunerative opportunities for expansion during the self supervised learning market forecast.

On the basis of technology, the natural language processing segment dominated the self supervised learning market share in 2021, and is expected to maintain its dominance in the upcoming years. NLP has been a widely adopted technology of self-supervised learning across the world as it performs a very large-scale analysis. NLP offers an accurate and objective analysis that reduces most probable human errors Most of the modern-day applications and devices for instance mobile phones and laptops are utilizing NLP technology for enhanced consumer experience. Moreover, NLP reduces the cost by streamlining the processes thus, many enterprises are attracted towards these platforms. Furthermore, NLP empowers humans to not only just save time but efforts to focus on other more important tasks. These factors propel the market growth further.

Depending on North America is anticipated to account for the largest share of the self-supervised learning market during the forecast period, owing to presence of a substantial industrial base in the U.S., government initiatives to promote innovation, and large purchasing power. Growth is primarily concentrated in the U.S. Companies that use big data software frequently use print management systems to cut costs, improve industry vertical, and boost worker productivity. However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing economies such as India and China and cloud native countries like Japan.       

The current estimation of 2031 is projected to be higher than pre-COVID-19 estimates. The COVID-19 outbreak has high impact on the growth of self-supervised learning market, as increasing number of smartphone users, growing adoption of connected devices, and surging e-commerce sector provide lucrative opportunities for the growth of the self-supervised learning market. COVID has caused crises in social, economic, and energy areas and medical life worldwide throughout 2020. This crisis had many direct and indirect effects on all areas of society. In the meantime, the digital and artificial intelligence industry can be used as a professional assistant to manage and control the outbreak of the virus. In post-pandemic circumstances, enterprises strived to minimize operational and running costs around all the business functions to recover the losses incurred in covid times. The market for self-supervised learning observed unconstructive expansion, during the initial half of 2020. Owing to the limitations due to the global lockdown, media houses, a variety of offices, and the manufacturing divisions have observed a provisional shutting down. The demand for self-supervised learning is anticipated to gain steady traction over the coming years owing to the need for scalable and customized software. Due to the COVID-19 pandemic, increasing health awareness among individuals has directed various doctors and health workers to deliver their services over applications.        

KEY FINDINGS OF THE STUDY

• By type, the natural language processing segment dominated the self-supervised learning industry in 2021. However, the computer vision segment is expected to exhibit significant growth during the forecast period.
• On the basis of industry vertical, the BFSI segment dominated the self-supervised learning market in 2021. However, the media and entertainment segment is expected to witness the highest growth rate during the forecast period.
• Region-wise, the self supervised learning market analysis was dominated by North America in 2021. However, Asia-Pacific is expected to witness significant growth in the coming years.

The key players operating in the Self Supervised Learning Industry include Amazon Web Service (AWS), Alison, Alphabet, Apple, Inc., Baidu, Inc., Brain4ce Education Solutions Pvt. Ltd., DataCamp, Inc., Dataiku, Databricks, Datarobot, Inc., EDX LLC., International Business Machine (IBM), Microsoft Corporation, Meta, SAS Institute, The MathWorks, Inc., and Tesla. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the self supervised learning industry globally.