Global Automated Machine Learning Market Revenues to Reach USD 7.42 billion by 2028 - Market Size, Share, Forecasts, & Trends Analysis Report by Mordor Intelligence

Hyderabad, June 28, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Automated Machine Learning Market (2023-2028)," the market is estimated at USD 1.24 billion in 2023. It is expected to register a CAGR of 42.97% during the forecast period (2023-2028).

With data science and artificial intelligence improvements, the performance of automated machine learning has advanced. As companies are recognizing the potential of this technology, its adoption rate is likely to increase over the forecast period. Automated machine learning (AutoML) allows domain experts to automatically construct machine learning applications without machine learning knowledge and considerable statistics.

Report Summary:

Report AttributeDetails
Market Size (2023)USD 1.24 billion
Market Size (2028)USD 7.42 billion
CAGR (2023 – 2028)42.97%
Study Period2018-2028
Fastest Growing MarketAsia-Pacific
Largest MarketNorth America
Forecast UnitsValue (USD billion)
Report ScopeMarket Dynamics, Revenue Forecast & Segmentation, Competitive Landscape & Recent Developments, Market Growth, Future Opportunities, and Trends
Key Market DriversCompanies are selling automated machine learning solutions on a subscription basis, making it easier for customers to use this technology.
The performance of automated machine learning has advanced due to data science and artificial intelligence improvements.

Who are the Top Companies in the Global Automated Machine Learning Market?

The global market for automated machine learning is moderately fragmented. With several new players entering the market, it is becoming increasingly competitive.

In 2023, the below-mentioned significant players collectively dominate the global automated market with a majority of the market share:

  • Datarobot Inc.
  • Amazon Web Services Inc.
  • dotData Inc.
  • IBM Corporation
  • Dataiku
  • SAS Institute Inc.
  • Microsoft Corporation
  • Google LLC
  • Aible Inc.

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Key Highlights from the Global Automated Machine Learning Market Report:

BFSI Vertical to Drive Market Growth

  • The BFSI industry is increasingly adopting AI and ML technologies to enhance operational efficiency and improve the consumer experience.
  • ML-powered solutions are enabling finance firms to replace manual labor by automating repetitive operations, leading to increased corporate productivity.

Asia-Pacific to Hold the Largest Market Share

  • With increased investment in information technology (IT) and augmented adoption of FinTech, Asia-Pacific (APAC) is expected to be the fastest-growing market in the coming years. Governments are also showing interest in integrating AI into multiple industries.
  • Rising global demand for AI in robotics, speech recognition, and visual recognition is boosting the Japanese AI market. With the ability of AI systems to monitor public spaces and scan internet traffic to determine user intent, China also provides enhanced automated machine learning tools for social control, monitoring, or censoring the population.

What are the latest developments in the Global Automated Machine Learning Market?

  • In March 2023, HUMBL Inc. launched its AI and automated machine learning initiatives across its consumer, commercial, and Latin American business units.
  • In June 2022, Microsoft announced launching Viva Sales, its new sales tool. Viva Insights offers tailored news, analytics, and information for workers.
  • In January 2022, AWS announced the global expansion of AWS local zones along with the completion of its first 16 AWS Local Zones in the United States.

Mordor Intelligence has Segmented the Global Automated Machine Learning Market Based on Solution, Automation Type, End User, and Geography:

  • Solution (Market Size and Forecast based on Value (USD billion), 2018-2028)
    • Standalone or On-premise
    • Cloud
  • Automation Type (Market Size and Forecast based on Value (USD billion), 2018-2028)
      • Data Processing
      • Feature Engineering
      • Modeling
      • Visualization
  • End Users (Market Size and Forecast based on Value (USD billion), 2018-2028)
      • BFSI
      • Retail and E-commerce
      • Healthcare
      • Manufacturing
      • Other End Users
  • Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
    • North America
      • United States
      • Canada
    • Europe
      • United Kingdom
      • Germany
      • France
      • Rest of Europe
    • Asia-Pacific
      • China
      • Japan
      • South Korea
      • Rest of Asia-Pacific
    • Rest of the World

In a nutshell, the Mordor Intelligence Market Research Report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those looking to understand this industry. Get a glance at the Automated Machine Learning Market (2023-2028).

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About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.




Global Automated Machine Learning Market - Mordor Intelligence

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