Without a doubt, the COVID-19 pandemic has had a tremendous impact on all areas of modern life. This also affected the business, that needed to quickly respond to changes and cope with them. This has sparked incredible growth in the digital transformation technology market. During the pandemic, organizations and companies began to actively use various technologies: machine learning, computer vision, artificial intelligence, etc. Currently, the process of introducing advanced technologies continues. This market sector is projected to grow to $252 billion by 2025.

Machine Learning (ML)

The market revenue from machine learning in 2019 was $18.4 million. Given the fast pace of growth, total ML market revenue is projected to reach US $216.6 billion by 2025 with a CAGR of 50.8%. Now machine learning is widely used in healthcare, sales and marketing management.

Natural Language Processing (NLP)

In 2019, market revenue from natural language processing was $3 billion. Now the figure is approaching $8.3 billion. The average annual growth rate is 18.1%. eCommerce businesses use NLP to improvise and ensure maximum customer satisfaction. With the help of chatbots it is possible to provide personal contact with customers, that helps to competently research the market and customer behavior.

Computer vision

By 2025, revenue from the growth of the computer vision market is projected to increase from $4.3 billion to $16.8 billion. The average annual growth rate will be 25.4%. Computer vision is widely used in the automotive, manufacturing, retail and healthcare sectors.

Images and faces recognition

Facial recognition occupies a large portion of the biometrics and digital transformation market. In 2019, revenues from image and face recognition technologies were $3.2 billion. Revenue is projected to grow to $8.7 billion by 2025 at a CAGR of 17.6%.

Other technologies

Even though the demand for the above technologies is very high, there are other similar developments that fall under the category of digital transformation technologies. They will also grow rapidly. Total market revenue will reach US $1.7 billion by 2025 with a CAGR of 42.7%.