Advanced Fraud Detection Drives AutoML Market Growth: An Emerging Driver Transforming The Automated Machine Learning (AutoML) Market Landscape

The Automated Machine Learning (AutoML) Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Automated Machine Learning (AutoML) Market?
The Automated Machine Learning (AutoML) Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Automated Machine Learning (AutoML) Market?

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What Are the Different Automated Machine Learning (AutoML) Market Segments?
The automated machine learning (AutoML) market covered in this report 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

Subsegments:
1) By Solutions: Cloud-Based Solutions, On-Premises Solutions, Integrated Development Environments (IDEs)
2) By Services: Consulting Services, Implementation Services, Training And Support Services

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What Are the Primary Drivers Shaping the Automated Machine Learning (AutoML) Market?
The increasing demand for sophisticated solutions to detect fraud is predicted to boost the automated machine learning (AutoML) market's expansion. The procedure of fraud detection incorporates detecting and hindering fraudulent behaviours or operations within a system or an institution. Automated machine learning (AutoML) serves as a viable tool for fraud detection due to its ability to handle and scrutinize extensive data sets, recognize patterns, and locate anomalies indicative of fraud. To exemplify, in February 2024, Allianz Insurance plc, a German company specializing in insurance and asset management services, confirmed that the claim frauds they identified in 2023 were worth $95.2 million (or £77.4 million), showing an increase from $86.96 million (£70.7 million) the previous year in 2022. Consequently, the growing demand for sophisticated fraud detection solutions is fueling the expansion of the automated machine learning (AutoML) market.

Which Companies Are Leading in the Automated Machine Learning (AutoML) Market?
Major companies operating in the automated machine learning (AutoML) market include Google LLC, Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, Salesforce Inc., Teradata Corporation, Alteryx, Altair Engineering Inc., EdgeVerve Systems Limited, TIBCO Software Inc., DataRobot Inc., Dataiku, BigPanda., H2O.ai Inc., KNIME, Cognitivescale, Anyscale Inc., RapidMiner, Squark AI Inc., Auger.AI, DotData Inc., BigML Inc., Valohai, DarwinAI, Aible Inc., SigOpt, Zerion, Xpanse AI, Neptune Labs

What Are the Major Trends Shaping the Automated Machine Learning (AutoML) Market?
Advancing technology is a leading trend gaining traction in the automated machine learning (AutoML) sector. Top-tier companies in the AutoML market are embracing these technological advancements to maintain their market standing. An example is AND Solutions Pte Ltd., a Singapore-based fintech firm offering AutoML platforms, who unveiled the NIKO AutoML platform in April 2023. This groundbreaking machine-learning tool is designed to simplify and hasten the generation of prediction models. The platform boasts a variety of tools and features, allowing users to swiftly and smoothly produce and roll out first-rate machine learning models, even without coding or data science skills. Guiding users through each step of the process via its user interface, the platform offers excellent outcomes in a much shorter time than traditional methods. Key advantages of NIKO AutoML include rapid and precise model creation, streamlined operations, enhanced productivity, and cost efficiency.

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What Are the Top Revenue-Generating Geographies in the Automated Machine Learning (AutoML) Market?
North America was the largest region in the automated machine learning (AutoML) market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the automated machine learning (AutoML) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Automated Machine Learning (AutoML) Market?
2. What is the CAGR expected in the Automated Machine Learning (AutoML) Market?
3. What Are the Key Innovations Transforming the Automated Machine Learning (AutoML) Industry?
4. Which Region Is Leading the Automated Machine Learning (AutoML) Market?

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