Automated Machine Learning Solution Market Set to Reach $14.89 Billion by 2029 with 47.7% Yearly Growth

What market dynamics are playing a key role in accelerating the growth of the automated machine learning solution market?
The growing need for efficient solutions to detect fraud is anticipated to spur the expansion of the automated machine learning solution market. Fraud detection solutions encompass a variety of tools, techniques and approaches that are formulated to identify and counteract fraudulent activities within diverse systems, procedures, or transactions. Machine learning is presently employed for fraud detection applications to tackle the escalating threat of financial fraud. For example, as per the Financial Crimes Enforcement Network, a government agency based in the US, this growth trend rolled on into 2022, with over 680,000 Suspicious Activity Reports (SARs) filed regarding check fraud, almost doubling the filings from the prior year. Consequently, the growing need for effective fraud detection solutions will fuel the expansion of the automated machine learning solution market.

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How will the growth rate of the automated machine learning solution market shape industry trends by 2034?
The market for automated machine learning solutions has seen significant expansion in recent times. It's projected to escalate from a value of $2.12 billion in 2024 to reach $3.13 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 47.9%. The surge in growth during the previous period is due to a rise in the need for predictive models, decision-making based on data, augmented demand for predictive lead scoring systems, and process optimization.

The market size for automated machine learning solutions is forecasted to experience a rapid increase in the coming years. It is projected to expand to $14.89 billion in 2029, with a compound annual growth rate (CAGR) of 47.7%. The surge during the predicted period is due to growing needs for effective fraud detection methods, a rising demand for smart business operations, an escalating desire for automation in the financial field, higher uptake across different sectors, and emerging interest in education. Key trends to look out for in the forecast time-frame encompass subscription-based structures, technological progression, and cloud and serverless computing.

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How are the latest trends influencing the growth of the automated machine learning solution market?
Leading firms in the automated machine learning solution market are adopting innovative technologies to maintain their market standing. These advancements in automated ML solutions encompass improved model interpretability and effortless integration for smooth and effective machine learning model creation. For example, in April 2023, AND Solutions Pte Ltd., a fintech firm based in Singapore that offers automated machine learning solution platforms, unveiled the NIKO AutoML platform. This new machine-learning tool is designed to facilitate and speed up the process of developing prediction models. The platform provides multiple tools and features that allow users to swiftly and smoothly create and implement top-quality machine learning models without the need for programming or data science knowledge. Its user interface guides users through every step of the process, delivering optimal results in a much shorter time than traditional methods. NIKO AutoML has numerous key advantages, including rapid and precise model generation, a streamlined workflow, enhanced productivity, and cost efficiency.

Which primary segments of the automated machine learning solution market are driving growth and industry transformations?
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

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Which geographical regions are pioneering growth 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.

Who are the influential players reshaping the automated machine learning solution market landscape?
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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What Is Covered In The Automated Machine Learning Solution Global Market Report?

• Market Size Forecast: Examine the automated machine learning solution market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the automated machine learning solution market for a structured understanding.
• Key Players Overview: Analyze major players in the automated machine learning solution market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the automated machine learning solution market.
• Segment Contributions: Evaluate how different segments drive overall growth in the automated machine learning solution market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the automated machine learning solution market.
• Industry Challenges: Identify potential risks and obstacles affecting the automated machine learning solution market.
• Competitive Landscape: Review strategic developments in the automated machine learning solution market, including expansions, agreements, and new product launches.

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