According to Future Market Insights’ (FMI) deep tech market analysis, global market demand is expected to grow at a CAGR of 21.8% between 2022 and 2032.
According to the report, the deep tech market will be worth $518.2 billion by the end of 2022. According to FMI, self-service, repackaging business capabilities, anywhere-running automation, any cloud, and using any language for any competence would allow business users, technical teams, and non-technical team members to address problems decentralizedly.
Press releases, product notes, opinions on hot topics, and quarterly financial reports are all examples of repetitive material produced by businesses. Natural Language Generation (NLG) will be useful in producing such repetitive content, and a human copywriter’s job will be to add a personal touch to the tone and tenor of the brand communication. NLG will produce more and more information on a consistent basis in the future, requiring only minor manual editing to conform to organisational needs.
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Key Takeaways: Deep Tech Market
- By technology, the robotics segment is expected to grow at a CAGR of 4% in the global demand for deep tech during the forecast period 2022-2032.
- By enterprises size, the adoption of deep tech solution in SMEs is anticipated to grow at a CAGR of 6% between 2022 & 2032.
- By end user, the adoption of deep tech solution in healthcare industry is anticipated to grow at a CAGR of 3% between 2022 & 2032.
- North America is expected to lead the market followed by Europe in 2022. South Asia & Pacific is anticipated to emerge as the fastest growing region between 2022 & 2032.
“A.I. labs and engineering teams will advance from developing specialized, consumable models to developing platforms and models that are more broadly applicable. With regard to solving wicked issues like text summarization, medical note parsing, text to picture, and many other things, the new generation of generalized models will make considerable strides. This is expected to fuel the demand for deep tech globally during the forecast period” says FMI analyst.”
Implementation of AI in Synthetic Biology
Particularly when it comes to applications that rely on sequential data, like DNA sequence information, neural networks (used in AI) have been found to be quite effective. Bio manufacturing businesses, like Zymergen, are harnessing protein structures from microorganisms (such organisms like E. coli), such as those developed by DeepMind, a software company to create things using biology. It is envisaged that the DeepMind data would be utilized for “synthetic biology,” such as the development of bacteria that can more effectively synthesize novel compounds and materials.
More Valuable Insights on Deep Tech Market
FMI’s report on the deep tech industry research is segmented into four major sections – by technology (Big Data, Artificial Intelligence and Machine Learning, language processing, Robotics, Vision and speech algorithm, quantum computing, and others), enterprises size (SMEs and large enterprises), end user (BFSI, IT & Telecommunication, automotive, healthcare, agriculture, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the deep tech demand outlook.
Competitive Landscape
Key providers of deep solution are leveraging technologies such as Block chain, AI, quantum computing and others to solve critical problems in industry like healthcare, agriculture, automotive and others.
- For an instance, in March 2020, the Think ware DS-1 ADAS aftermarket device will now have sophisticated deep learning capabilities thanks to a partnership with Brodmann17, a mobility software vendor that offers vision-based AI solutions for the automotive sector. Brodmann17 is a major global provider of Smart Car technology.
- For an instance, in August 2022, Promena, Turkiye’s provider of strategic procurement software, and Scoutbee, an AI-powered supplier insight and discovery platform, recently announced a partnership to better equip their customers for the changing environment of procurement.
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Deep Tech Outlook by Category
By Technology:
- Big Data
- Artificial Intelligence and Machine Learning
- Language Processing
- Robotics
- Vision and Speech Algorithm
- Quantum Computing
- Others
By Enterprise Size:
- SMEs
- Large Enterprises
By End User:
- BFSI
- IT & Telecommunication
- Automotive
- Healthcare
- Agriculture
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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