The Reinforcement Learning Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Reinforcement Learning Global Market Report 2024, The reinforcement learning market size is expected to see exponential growth in the next few years. It will grow to $26.64 billion in 2028 at a compound annual growth rate (CAGR) of 28.5%. The growth in the forecast period can be attributed to continued algorithmic advances, growing demand for autonomous systems, integration with edge computing, expansion of reinforcement learning in healthcare, focus on explain ability and interpretability. Major trends in the forecast period include advancements in deep learning, transfer learning dominance, hybrid learning architectures, edge reinforcement learning, and explain ability and interpretability improvements.
The increase in industrial automation is expected to propel the growth of the reinforcement learning market going forward. Industrial automation refers to the use of advanced technologies, control systems, and machinery to automate industrial processes and operations. Reinforcement learning (RL) is increasingly being used in industrial automation due to its ability to learn optimal control policies from interaction with the environment without the need for explicit programming. For instance, in February 2022, according to the International Federation of Robotics, a Germany-based non-profit organization, there will be 23,000 industrial robots operating in UK factories in 2021, an increase of 6% from the previous year. Further, sales of new robots were up by 8% to 2,205 units in 2020. Therefore, the increase in industrial automation is driving the growth of the reinforcement learning market.
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The reinforcement learning market covered in this report is segmented –
1) By Deployment: On-Premises, Cloud-Based
2) By Enterprise Size: Large, Small And Medium Enterprises
3) By End-user: Healthcare, Banking Financial Services And Insurance (BFSI), Retail, Telecommunication, Government And Defense, Energy And Utilities, Manufacturing
Major companies operating in the reinforcement learning market are focusing on developments in AI advancements such as autonomous control AI services due to the potential applications of reinforcement learning in various industries. Autonomous Control AI Service refers to a new technology that achieves complex process control, which was previously manual, using reinforcement learning. For instance, in February 2023, Yokogawa Electric Corporation, a Japan-based software company, launched a reinforcement learning solution for edge controllers. The autonomous control service for OpreX Realtime OS-based Machine Controllers (e-RT3 Plus) uses the Factorial Kernel Dynamic Policy Programming (FKDPP) reinforcement learning AI algorithm. It includes packaged software, consulting services, and/or training programs, depending on end-user requirements. It is designed to achieve complex process control and is initially targeted at industries such as resources and energy, materials, and electronics. The service offers features such as simplified AI model creation, support for control cycles as short as 0.01 seconds, and the ability to retrofit edge controllers with the autonomous control AI.
The reinforcement learning market report table of contents includes:
- Executive Summary
- Reinforcement Learning Market Characteristics
- Reinforcement Learning Market Trends And Strategies
- Reinforcement Learning Market – Macro Economic Scenario
- Global Reinforcement Learning Market Size and Growth
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- Global Reinforcement Learning Market Competitive Benchmarking
- Global Reinforcement Learning Market Competitive Dashboard
- Key Mergers And Acquisitions In Reinforcement Learning Market
- Reinforcement Learning Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Google LLC
- Microsoft Corp
- Metadata Platforms Inc.
- Tencent Holdings Ltd.
- Amazon Web Services Inc.
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