Machine learning(ML) is basically an area of Artificial Intelligence(AI) that has been a cornerstone of digitalization solutions that have sparked significant interest in the virtual world. This paper provides a quick overview of the most often used machine learning methods. Also presents a brief comparison of ML algorithms based on various applications, as well as a thorough survey of ML algorithms. This paper intends to highlight the categorization (such as Supervised learning, Unsupervised learning, Semi-supervised learning and Reinforcement learning), challenges and real-world applications of machine learning algorithms from an application standpoint in order to aid in making an informed decision towards selecting the appropriate learning algorithm to meet the specific requirements of the application.