What Has Been The Evolution of the Automated Machine Learning Solution Market in Recent Years?
The automated machine learning solution market has seen considerable growth due to a variety of factors.
• In recent years, there has been a dramatic expansion in the market size of automated machine learning solutions. The value of this market is projected to increase from $2.12 billion in 2024 to $3.13 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 47.9%.
This substantial growth during the historical period can be linked to the rising demand for predictive modelling, decision making based on data, the surge in demand for predictive lead scoring systems, and the need for process optimization.
What Is the Forecasted Market Size and Growth Rate for The Automated Machine Learning Solution Market Size In The Coming Years?
The automated machine learning solution market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for automated machine learning solutions is projected to experience striking growth in the coming years. The market is slated to expand to $14.89 billion by 2029, with a compound annual growth rate (CAGR) of 47.7%.
The surge in growth during the forecast period is thought to be tied to the heightened demand for effective fraud detection systems, growing interest in intelligent business procedures, mounting pressure to automate financial sectors, broadening acceptance across various industries, and increasing interest in education. Noteworthy trends for the forecast period incorporate subscription-based models, technological advancements, and the rise of cloud and serverless computing.
What Factors Are Driving Growth In The Automated Machine Learning Solution Market?
The burgeoning need for effective fraud detection systems is anticipated to fuel the expansion of the automated machine learning solution market in the future. These fraud detection systems constitute a variety of instruments, techniques, and protocols developed to discover and avert fraudulent actions in several systems, operations, or transactions. Presently, machine learning is being employed in fraud detection applications to tackle the escalating threat of financial fraud. For example, in February 2023, as per the Financial Crimes Enforcement Network, an American government agency, this increasing trend persisted into 2022, with the count of SARs connected to check fraud exceeding 680,000, almost twice the filings from the prior year. Therefore, the growing requirement for efficient fraud detection systems will propel the expansion of the automated machine learning solution market.
What Are The Main Segments Of The Global Automated Machine Learning Solution Market?
The automated machine learning solution market covered in this report is segmented –
1) By Offering: Platform, Service
2) By Deployment: On-Premise, Cloud
3) By Enterprise Size: Large Enterprises, SMEs
4) By End-Users: BFSI, Retail And E-Commerce, Healthcare, Manufacturing
Subsegments:
1) By Platform: Cloud-Based Platforms, On-Premises Platforms, Integrated Development Environments (IDEs), AutoML Tools
2) By Service: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Workshops
Pre-Book The Automated Machine Learning Solution Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Future Of The Automated Machine Learning Solution Market?
Leading businesses involved in the automated machine learning solution market are leveraging advanced technology innovations to maintain their competitive standing. These innovations in automated ML solutions encompass enhanced model interpretability and seamless integration, which simplifies and optimizes machine learning model development. For instance, AND Solutions Pte Ltd., a fintech firm based out of Singapore, unveiled the NIKO AutoML platform in April 2023. This platform is an advanced machine-learning tool designed to accelerate the design of prediction models. It offers a range of tools and features, facilitating swift and hassle-free creation and deployment of superior machine learning models devoid of coding or data science know-how. Guided by its user-friendly interface, users can navigate each step of the process, yielding optimal results in far less time than conventional methods. NIKO AutoML delivers several significant advantages such as quick and precise model development, simplified workflow, heightened productivity and cost-efficiency.
Who Are the Key Players In The Automated Machine Learning Solution Market?
Major companies operating in the automated machine learning solution market report are:
• Microsoft Corporation
• Amazon Web Services Inc.
• Microsoft Azure Automated Machine Learning
• International Business Machines Corporation
• Oracle
• SAS Institute Inc.
• Databricks
• Alteryx
• H2O.ai
• EdgeVerve Systems Limited
• Dataiku
• Datarobot Inc.
• KNIME
• Rasa
• Peltarion
• RapidMiner
• Auger.AI
• BigML
• dotData Inc.
• Big Squid Inc.
• Determined.ai Inc.
• Turi (formerly GraphLab)
• Turing Analytics
What Is The Most Dominant Region In The Automated Machine Learning Solution Market?
North America was the largest region in the automated machine learning solution market in 2024. The regions covered in the automated machine learning solution market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
