AUTOMATED MACHINE LEARNING MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024 - 2031)
Global Automated Machine Learning Market is estimated to be valued at USD 3.13 Bn in 2024 and is expected to reach USD 49.23 Bn by 2031, growing at a compound annual growth rate (CAGR) of 48.2% from 2024 to 2031.
The automated machine learning market has seen significant growth in recent years driven by the rise of artificial intelligence and data analytics. Automated machine learning utilizes advanced algorithms and technologies to build, test and deploy machine learning models with minimum human intervention. It helps organizations leverage machine learning across various use cases without having expertise in advanced mathematics or programming. Automated ML platforms automate the end-to-end model development lifecycle which traditionally require extensive data processing, feature engineering and hyperparameter tuning. This has made machine learning technologies accessible to a wider audience and accelerates the adoption of AI across industries. The market is expected to continue its robust expansion as automated machine learning assists in tackling the talent crunch in AI fields and makes complex machine learning processes efficient and scalable.
Market Dynamics
The key factors fueling the growth of the automated machine learning market include the rising demand for advanced data analytics across sectors, growing shortage of machine learning experts, and the need for simplified deployment of AI-driven applications and services. However, limitations of current automated ML technologies in handling complex enterprise requirements and the risks of bias in models trained on insufficient data pose challenges. On the other hand, the growing adoption of cloud-based machine learning platforms and the integration of automated ML in vertical software are creating lucrative opportunities. Additionally, the increasing availability of AI-as-a-service solutions and the advent of edge computing boost the demand.
Key features of the study:
- This report provides in-depth analysis of the global automated machine learning market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
- It profiles key players in the global automated machine learning market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
- Key companies covered as a part of this study include IBM, Oracle, Microsoft, ServiceNow, Google, Baidu, Alteryx, Salesforce, H2O.ai, Dataiku, Alibaba Cloud, Akkio, dotData, SparkCognition, and Mathworks.
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
- The global automated machine learning market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
- Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global automated machine learning market.
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on 'Automated Machine Learning Market' - Global forecast to 2031
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