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Automated Machine Learning Solution Industry Expansion: How the Market Size Has Grown Over the Last 5 Years?
The value of the automated machine learning solution market has seen significant expansion in the past few years. Its increase, from $2.12 billion in 2024 to a projected $3.11 billion in 2025, represents a compound annual growth rate (CAGR) of 47.0%.
Factors contributing to the growth during the historic period include the escalating demand for predictive model systems, data-informed decision-making procedures, increasing need for predictive lead scoring mechanisms, and advancements aimed at process optimization.
The market size for automated machine learning solutions is anticipated to undergo a substantial expansion in the coming years. The size is predicted to escalate to $14.72 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 47.5%.
The projected growth within this period can be ascribed to factors such as an elevated demand for effective fraud detection systems, a surge in demand for smart business processes, an escalating need to automate the finance sector, and increased implementation across different fields. The period also sees emerging trends such as subscription-based models, technological innovation, as well as cloud and serverless computing.
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What Growth Drivers Are Responsible for Accelerating Automated Machine Learning Solution Market Growth?
The automated machine learning solution market is anticipated to expand due to the increasing need for effective fraud detection solutions. Such solutions encompass an array of tools, techniques, and methods aimed at detecting and averting fraudulent actions in various systems, procedures, or deals.
Fraud detection is now employing machine learning to tackle the escalating threat of financial fraud. For example, the Financial Crimes Enforcement Network, a government agency in the US, reported in February 2023, that there was a continuation of this upward trend into 2022.
The number of Suspicious Activity Reports (SARs) related to check fraud surpassed 680,000, nearly twice the submissions compared to the year before.
Hence, the growing need for efficient fraud detection solutions is likely to fuel the growth of the automated machine learning solution market.
Performance of Leading Segments in the Automated Machine Learning Solution Global Market
The automated machine learning solutionmarket 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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What are the upcoming Trends Poised to Transform the Future of the Automated Machine Learning Solution Market?
Leading firms in the automated machine learning solution market are integrating new technological advances to maintain their market standings. Technological advancements in automated ML solutions include improved model interpretability and effortless integration for efficient machine learning model development.
For instance, in April 2023, AND Solutions Pte Ltd., a Singaporean fintech firm providing automated machine learning solution platforms, introduced the NIKO AutoML platform. This cutting-edge machine learning tool was designed to simplify and speed up the development of prediction models.
The platform comes with a range of tools and features, allowing users to swiftly and easily create and implement top-tier machine learning models, without the need for coding or data science skills. The user interface of the platform guides users at every step of the process, delivering prime results in less time than traditional methods.
Besides, NIKO AutoML significantly benefits users by enabling quick and detailed model creation, simplifying workflows, boosting productivity, and reducing costs.
What Are the Regional Hotspots for Automated Machine Learning Solution Market Growth?
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.
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Which Companies Hold the Largest Market Share in the Automated Machine Learning Solution Industry?
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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