Global Automated Machine Learning (AutoML) Market Competitive Landscape, Top Market Segments, And Fastest Growing Regions
24 Nov, 2023
The global automated machine learning (AutoML) market is expected to grow from $0.77 billion in 2022 to $1.15 billion in 2023 at a compound annual growth rate (CAGR) of 45%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The automated machine learning (AutoML) market is expected to reach $5.03 billion in 2027 at a CAGR of 44.6%.
Global Automated Machine Learning (AutoML) Market Key Driver
The rising demand for advanced fraud detection solutions is expected to drive the growth of the automated machine learning (AutoML) market in the future. Fraud detection involves identifying and preventing fraudulent activities or behaviors within a system or organization. Automated machine learning (AutoML) proves valuable in fraud detection by leveraging its capabilities to process and analyze large volumes of data, identify patterns, and detect anomalies indicative of fraudulent activities.
Get a sample of the global automated machine learning (autoMLl) market reportGlobal Automated Machine Learning (AutoML) Market Segments
The global automated machine learning (autoMLl) market is segmented:
1) By Offering: Solutions; Services
2) By Deployment: Cloud; On-Premises
3) By Enterprise: Small And Medium Enterprise; Large Enterprise
4) By Application: Data Processing; Feature Engineering; Model Selection; Hyperparameter Optimization And Tuning; Model Assembling; Other Applications
5) By End User: Banking, Financial Services And Insurance (BFSI); Retail And E-Commerce; Healthcare; Manufacturing; Other End Users
6) By Geography: The regions covered in the automated machine learning (autoML) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global automated machine learning (autoML) market.
Major Automated Machine Learning (AutoML) Industry Players
Automated Machine Learning (AutoML) Market Overview
Automated machine learning (AutoML) is the process of applying machine learning to practical issues AutoML automates machine learning models' selection, composition, and parameterization, making the machine learning process more user-friendly and often providing faster, more accurate outputs than hand-coded algorithms.
Automated Machine Learning (AutoML) Global Market Report 2023 provides data on the global automated machine learning (autoMLl) market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The automated machine learning (autoMLl) market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.