AutoML Market Set for Exponential Growth, Reaching $2.35 Billion in 2025 and $10.93 Billion in 2029

 

The automated machine learning (AutoML) market size has grown exponentially in recent years. It is expected to grow from $1.64 billion in 2024 to $2.35 billion in 2025 at a staggering compound annual growth rate (CAGR) of 43.6%. This growth during the historic period is due to complexity of machine learning, scarcity of data science talent, demand for speedy solutions, advancements in AI and computing power, and cost efficiency.

Looking ahead, the AutoML market is poised for an explosive growth, estimated to reach $10.93 billion in 2029 at a CAGR of 46.8%. This growth can be attributed to AI integration across industries, expansion of IoT and big data, rise of edge computing, hybrid cloud and on-premises solutions, and regulatory compliance requirements. Future trends include automated feature engineering, federated learning advancements, explainable AI and model interpretability, AutoML for unstructured data, and AutoML for autonomous systems.

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What Are The Key Growth Drivers Of The Automated Machine Learning (AutoML) Market?
One of the key drivers of the AutoML market is the rising need for advanced fraud detection solutions. Fraud detection involves identifying and preventing fraudulent activities within a system or organization. By processing and analyzing large volumes of data, Automated Machine Learning (AutoML) systems identify patterns and detect anomalies that may indicate fraudulent activities, a feature that is becoming increasingly vital in a world transitioning to a digital economy.

What Are The Major Segments In The Automated Machine Learning (AutoML) Market?
- By Offering: Solutions, Services
- By Deployment: Cloud, On-Premises
- By Enterprise: Small and Medium Enterprise, Large Enterprise
- By Application: Data Processing, Feature Engineering, Model Selection, Hyperparameter Optimization and Tuning, Model Assembling, Other Applications
- By End User: Banking, Financial Services and Insurance (BFSI), Retail and E-Commerce, Healthcare, Manufacturing, Other End Users

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Who Are The Major Players In The Automated Machine Learning (AutoML) Market?
Major companies operating in the 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, and Neptune Labs.

What Are The Emerging Trends In The Automated Machine Learning (AutoML) Market?
Adoption of technological innovations is a key trend in the AutoML market. Companies are introducing groundbreaking technologies to maintain their market position. A notable example is AND Solutions Pte Ltd., a Singapore-based fintech company which in April 2023, launched the NIKO AutoML platform to expedite the creation of prediction models.

Which Region leads The Automated Machine Learning (AutoML) Market?
In terms of region, North America was the largest market for the AutoML in 2024. Asia-Pacific, however, is expected to make significant strides and become the fastest-growing region in the forecast period.

The Automated Machine Learning (AutoML) Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities. Automated machine learning (AutoML) is the process of applying machine learning to practical issues and it automates machine learning models' selection, composition, and parameterization.

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