Automated Machine Learning (AutoML) Market Poised to Hit $10.93 Billion by 2029 with Accelerating Growth Trends

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Automated Machine Learning (AutoML) Market Size Growth Forecast: What to Expect by 2025?
The size of the automated machine learning (AutoML) market has expanded greatly in the last few years. A projection of this growth suggests a rise from $1.64 billion in 2024 to $2.35 billion in 2025, maintaining a compound annual growth rate (CAGR) of 43.6%. Factors contributing to this historic growth include the complexity of machine learning, a shortage of data science skills, the need for swift solutions, developments in artificial intelligence and computational power, and cost effectiveness.

How Will the Automated Machine Learning (AutoML) Market Size Evolve and Grow by 2029?
In the forthcoming years, the market size of automated machine learning (AutoML) is anticipated to experience dramatic expansion. By 2029, it is projected to reach $10.93 billion, boasting a compound annual growth rate (CAGR) of 46.8%. This growth during the forecast period can be credited to the integration of AI across various sectors, the development of the Internet of Things and big data, increasing edge computing, hybrid cloud and on-premises solutions, as well as regulatory compliance requirements. The forecast period is also set to witness trends such as automatic feature engineering, advances in federated learning, explainable AI and model interpretability, as well as the application of AutoML for unstructured data and autonomous systems.

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What Drivers Are Propelling the Growth of Automated Machine Learning (AutoML) Market Forward?
The growing demand for sophisticated fraud detection mechanisms is expected to boost the development of the automated machine learning (AutoML) market. The process of fraud detection involves discovering and mitigating deceptive activities or behaviors within an entity or a system. The application of automated machine learning (AutoML) in fraud detection utilizes the ability to handle and examine massive data volumes, identify trends, and discover irregularities possibly indicative of fraud. As an example, Allianz Insurance plc, a Germany-based firm offering insurance and asset management services, reported that there was an increase in identified claims fraud from $86.96 million (£70.7 million) in 2022 to $95.2 million (£77.4 million) in 2023. Hence, the expanding demand for upgraded fraud detection systems is stimulating the automated machine learning (AutoML) market's advancement.

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Which Emerging Trends Are Transforming the Automated Machine Learning (AutoML) Market in 2025?
Technological advancements are becoming an increasingly fashionable trend in the automated machine learning (AutoML) industry. Leading businesses in the automated machine learning (AutoML) marketplace are embracing new cutting-edge technology to maintain their market standing. For example, in April 2023, a fintech company from Singapore, AND Solutions Pte Ltd., which specializes in AutoML platforms, introduced the innovative NIKO AutoML platform, a device engineered to accelerate the process of developing predictive models. This platform boasts diverse tools and features, facilitating users to swiftly and easily construct and implement high-quality machine learning models, irrespective of their coding or data science background. The platform's interface guides the user through each phase of the process, resulting in superior outcomes in a significantly shorter timeframe compared to traditional methodologies. NIKO AutoML provides numerous primary advantages, such as rapid and precise model construction, simplified workflow, enhanced productivity, and cost efficiency.

What Are the Key Segments in the Automated Machine Learning (AutoML) Market?
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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Who Are the Key Players Shaping the Automated Machine Learning (AutoML) Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth 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

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