Deep learning is growing at a tremendous pace in terms of models and their datasets. In terms of applications, the deep learning market is dominated by image recognition followed by optical character recognition, and facial and object recognition. According to Allied market research, the global deep learning market was valued at $6.85 billion in 2020, and it is predicted to reach $179.96 billion by 2030, with a CAGR of 39.2% percent from 2021 to 2030.
AI has become ubiquitous today from personal devices to enterprise applications, you see them everywhere. The advent of IoT clubbed with rising demand for data privacy, low power, low latency, and bandwidth constraints has increasingly pushed for AI models to be running at the edge instead of the cloud.