What Is The Current and Historic Market Size Analysis Of The No Code Machine Learning Market?
The no code machine learning market has seen considerable growth due to a variety of factors.
• The market size of no-code machine learning has been experiencing a massive expansion in recent years. It is projected to surge from $1.1 $ billion in 2024 to $1.45 $ billion in 2025 at a compound annual growth rate (CAGR) of 31.0%.
The significant growth seen in the previous period can be credited to factors like the rising demand for easy-to-use tools, an escalating need for cost-effective machine learning solutions, the growing utilization of cloud-based no-code platforms, an increased understanding of machine learning advantages among non-technical users, as well as the growing trend of low-code and no-code platforms.
What Are The Predictions for The No Code Machine Learning Market in the Coming Years?
The no code machine learning market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the size of the no-code machine learning market is predicted to experience a substantial surge, projected to escalate to $4.21 billion by 2029 with a compound annual growth rate (CAGR) of 30.6%.
Factors contributing to this predicted growth during the forecast period include an increased demand for user-friendly AI tools, widespread implementation of AI across various industries, a surge in cloud computing adoption, wider availability of pre-designed machine learning models, and efforts to lower the technical expertise barrier. Key trend predictions for the forecast period encompass technological progress, personalized AI, IoT applications, predictive analytics, and self-administered analytics.
Which Drivers Are Accelerating Growth In The No Code Machine Learning Market?
The growth of the no-code machine learning market is projected to be accelerated by the increasing uptake of the Internet of Things (IoT). IoT, essentially a network of interconnected devices and systems that exchange data over the Internet for the purpose of automating processes and boosting operational efficiency, is being progressively adopted due to its ability to optimize operational efficiency, provide real-time data insights, facilitate automation and remote monitoring, cut costs, enhance decision-making, and foster innovation by linking and optimizing various devices and systems. No-code machine learning, which enables the creation, deployment, and management of machine learning models without requiring advanced technical skills, is being utilized more and more in IoT. As per Ericsson, a network and telecommunications company based in Sweden, the count of IoT-connected devices across the globe is predicted to surge from 13.2 billion in 2022 to 34.7 billion by 2028. Consequently, the growing adoption of the Internet of Things (IoT) is fuelling the expansion of the no-code machine learning market.
What Are The Core Segments Of The Global No Code Machine Learning Market?
The no-code machine learningmarket covered in this report is segmented –
1) By Offering: Platform, Services
2) By Deployment Mode: Cloud-Based, On-Premise
3) By Industry Vertical: Banking, Financial Services And Insurance (BFSI), Healthcare, Retail, Information Technology(IT) And Telecom, Manufacturing, Government
4) By Application: Predictive Analytics, Process Automation, Data Visualization, Business Intelligence, Customer Relationship Management, Supply Chain Optimization
Subsegments:
1) By Platform: Automated Machine Learning Platforms (AutoML), Drag-and-Drop Machine Learning Platforms, Model Deployment Platforms, Data Preparation Platforms, Visualization Aand Reporting Platforms, Integration Platforms for APIs And Data Sources
2) By Services: Consulting Services, Implementation Services, Training and Education Services, Support And Maintenance Services, Custom Solution Development Services
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How Are Emerging Trends Reshaping The Dynamics Of The No Code Machine Learning Market?
Key players in the no-code machine learning market are striving to evolve their technology with a particular emphasis on enhancing workflow automation through no-code machine learning instruments. These tools empower users to design and implement machine learning models without the necessity for coding, thus making the technology more user-friendly for those without technical expertise. For instance, Amazon, a renowned technology firm in the United States, unveiled SageMaker Canvas in December 2023. This no-code machine learning tool is devised to facilitate users with no coding skills to construct machine learning models. Aiming at business analysts and non-technical users, this tool offers a straightforward interface to streamline model creation, data preparation, and training. Key applications include anticipating customer attrition, identifying fraud, and optimizing inventory management.
Who Are the Key Players In The No Code Machine Learning Market?
Major companies operating in the no-code machine learning market are:
• Apple Create ML
• Microsoft Azure Machine Learning Studio
• Amazon Web Services
• SAS Viya
• DataRobot Inc.
• LityxIQ
• H2O.ai
• Dataiku DSS
• C3 AI Suite
• RapidMiner Studio
• BigML Inc.
• Google Teachable Machine
• Edge Impulse
• Microsoft Lobe
• KNIME Analytics Platform
• MonkeyLearn
• Akkio AI
• Obviously AI
• Runway ML
• Fritz AI
• Sway AI
• PyCaret
• Ever AI
• Neural Designer
What Are The Regional Insights Into The No Code Machine Learning Market?
North America was the largest region in the no-code machine learning market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the no-code machine learning market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
