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% from 2021 to 2030. 

At one point in time it was believed that large and complex models perform better, but now it’s almost a myth. With the evolution of edge AI, more and more techniques came in to convert a large and complex model into a simple model that can be run on edge and all these techniques combine to perform model compression.