Automated Machine Learning (AutoML) Market to Surge to $5.03 Billion by 2027 with a Remarkable CAGR of 44.6% || Google LLC, Microsoft Corporation, Amazon Web Services Inc

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Automated Machine Learning (AutoML) Global Market Report 2023 identifies the rising need for advanced fraud detection solutions is the major driver for the automated machine learning (AutoML) market's growth in the forecast period. Fraud detection involves identifying and preventing fraudulent activities or behaviors within a system or organization. Automated machine learning (AutoML) can be used for fraud detection by leveraging its capabilities to process and analyze large volumes of data, identify patterns, and detect anomalies that may indicate fraudulent activities. For instance, in February 2023, according to the Financial Crimes Enforcement Network (FinCEN), a US-based government agency that collects and analyzes information about financial transactions, in 2021, banking institutions sent over 350,000 suspicious activity reports (SARs) to FinCEN to identify suspected check fraud, a 23% increase over the number of SARs filed in 2020.

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%.

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Major competitors in the automated machine learning (AutoML) market are Google LLC, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, Salesforce Inc., Teradata Corporation.

A key trend in the Automated Machine Learning (AutoML) market includes offering technological innovations. Major companies operating in the automated machine learning (AutoML) market are adopting new technological innovations to sustain their position in the market. For instance, in April 2023, AND Solutions Pte Ltd., a Singapore-based fintech company that provides automated machine learning (AutoML) platforms, launched the NIKO AutoML platform, an innovative machine-learning tool created to streamline and expedite the creation of prediction models.

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The automated machine learning (AutoML) 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: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the automated machine learning (AutoML) market

The Business Research Company's "Global Automated Machine Learning (AutoML) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Automated Machine Learning (AutoML) Market Include:
1. Executive Summary
2. Automated Machine Learning (AutoML) Market Characteristic
3. Automated Machine Learning (AutoML) Market Trends And Strategies
4. Automated Machine Learning (AutoML) Market - Macro Economic Scenario
5. Automated Machine Learning (AutoML) Market Size And Growth
……………
27. Automated Machine Learning (AutoML) Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Automated Machine Learning (AutoML) Market
29. Automated Machine Learning (AutoML) Market Future Outlook And Potential Analysis
30. Appendix

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