Automated Machine Learning Solution Market Size And Share Analysis 2024

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Automated Machine Learning Solution Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $10.07 billion In 2028 At A CAGR Of 47.7% :

The automated machine learning solution market size has grown exponentially in recent years. It will grow from $1.43 billion in 2023 to $2.12 billion in 2024 at a compound annual growth rate (CAGR) of 48.0%. The growth in the historic period can be attributed to growing demand for predictive models, data-driven decision-making, increasing demand for predictive lead scoring systems, optimization of processes.

The automated machine learning solution market size is expected to see exponential growth in the next few years. It will grow to $10.07 billion in 2028 at a compound annual growth rate (CAGR) of 47.7%. The growth in the forecast period can be attributed to increasing demand for efficient fraud detection solutions, demand for intelligent business processes is rising, rising need to automate the financial sector, increasing adoption in various industries, emerging educational interest. Major trends in the forecast period include subscription-based models, technological advancemet, cloud and serverless computing, .

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Automated Machine Learning Solution Market Major Segments
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

Key Driver - Surge In Demand For Fraud Detection Drives The Automated Machine Learning Solutions Market

Increasing demand for efficient fraud detection solutions is expected to propel the growth of the automated machine learning solution market going forward. Fraud detection solutions refer to a set of tools, technologies and methodologies designed to identify and prevent fraudulent activities within various systems, processes, or transactions. Machine learning is currently being used for fraud detection applications to combat the rising danger of financial fraud. For instance, in February 2023, according to financial crimes enforcement network (FinCEN), a US-based government agency that collects and analyze information about financial transaction, in 2021, banking institutions sent over 350,000 suspicious activity reports to FinCEN to identify suspected check fraud, a 23% increase over the number of SARs filed in 2020. The rising trend continued into 2022, with over 680,000 suspicious activity reports, nearly double the previous year's total. Therefore, increasing demand for efficient fraud detection solutions will drive the growth of the automated machine learning solution market.

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Prominent Trend - Focus On Revolutionizing The Automated Machine Learning Solution Market With Technological Innovations

Major companies operating in the automated machine learning solution market are adopting new technological innovations to sustain their position in the market. Technological innovations in automated ML solutions involve enhanced model interpretability and seamless integration for streamlined and efficient machine learning model development. For instance, in April 2023, AND Solutions Pte Ltd., a Singapore-based fintech company that provides automated machine learning solution platforms, launched the NIKO AutoML platform, an innovative machine-learning tool created to streamline and expedite the creation of prediction models. This platform offers various tools and functionalities, enabling users to create and deploy top-notch machine learning models without coding or data science expertise swiftly and effortlessly. The platform's user interface helps users through every procedure stage, providing optimal results in a fraction of the time traditional approaches would take. NIKO AutoML offers several key benefits, including fast and accurate model creation, streamlined workflow, increased productivity and cost-effectiveness.

Automated Machine Learning Solution Market Players
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

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Largest And Fastest Growing Region In The Market
North America was the largest region in the automated machine learning solution market in 2023. 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.

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

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