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Machine Learning - Romania

Romania
  • The market size in the Machine Learning market is projected to reach US$250.10m in 2024.
  • The market size is expected to show an annual growth rate (CAGR 2024-2030) of 36.08%, resulting in a market volume of US$1.59bn by 2030.
  • In global comparison, the largest market size will be United States (US$21.14bn in 2024).

Definition:
Machine learning is a branch of artificial intelligence that involves the use of algorithms and statistical models to enable computer systems to learn from data and improve their performance on a task. It has a wide range of applications, including image and speech recognition, natural language processing, and predictive analytics. The Machine Learning market includes software platforms, tools, and services that enable organizations to develop and deploy machine learning applications.

Additional Information:

The Machine Learning market comprises two key performance indicators: market sizes, and market sizes by industry. Market sizes are generated by the funding amount of Artificial Intelligence (AI) companies. Key players of the market include companies such as Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure.

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In-Scope

  • Supervised learning applications that require training data, such as image classification
  • Unsupervised learning applications that do not need training data, such as clustering and anomaly detection
  • Reinforcement learning applications that involve learning through trial and error, such as game playing, robotics, and autonomous driving.

Out-Of-Scope

  • Traditional programming tools, such as rule-based systems and algorithmic programming
  • Statistical analysis tools, such as regression analysis and hypothesis testing
  • Non-technical applications, such as financial analysis and business management.
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Study Details

    Value

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Market Size

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Artificial Intelligence Market in Romania is witnessing extraordinary growth, fueled by factors like the rising adoption of machine learning, growing health consciousness among consumers, and the convenience of online health services. This remarkable growth rate can be attributed to the increasing demand for advanced AI solutions in various industries.

    Customer preferences:
    As the Artificial Intelligence Market continues to grow in Romania, there has been a noticeable increase in demand for Machine Learning solutions. This can be attributed to changing consumer preferences, with more individuals seeking digital solutions for tasks such as data analysis and prediction. Additionally, as the population becomes more tech-savvy, there has been a rise in the adoption of Machine Learning tools and software across various industries. This trend is also driven by the need for more efficient and accurate decision-making processes, as well as the growing importance of data-driven insights in businesses.

    Trends in the market:
    In Romania, the Machine Learning Market within the Artificial Intelligence Market is experiencing rapid growth, driven by an increasing demand for data-driven solutions in various industries. With the rise of digital transformation and the adoption of advanced technologies, there is a growing trend of using machine learning for predictive analytics and decision making. This trend is expected to continue in the coming years, with significant implications for industry stakeholders. Companies are investing in machine learning capabilities to stay competitive, while startups are emerging to cater to the rising demand. Additionally, the government's support for AI research and development is further fueling the growth of the machine learning market in Romania.

    Local special circumstances:
    In Romania, the Machine Learning Market within the Artificial Intelligence Market is flourishing due to the country's rapidly developing tech industry and its strong focus on innovation. Additionally, Romania's large pool of highly skilled IT professionals and lower labor costs make it an attractive destination for companies looking to invest in AI. Furthermore, the country's supportive government policies and initiatives, such as the creation of an AI strategy and the establishment of AI research centers, are also driving the growth of the market.

    Underlying macroeconomic factors:
    The Machine Learning Market within the Artificial Intelligence Market in Romania is greatly impacted by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with favorable regulatory environments and robust investment in AI technologies are experiencing higher market growth compared to regions with regulatory obstacles and limited funding. The rising prevalence of chronic diseases and aging population in Romania and globally are also driving the demand for AI solutions in healthcare to enhance access and improve outcomes.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Methodology

    Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

    Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

    Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

    Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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