Global Automated Machine Learning (AutoML) Market Report 2021-2030 with DataRobot, dotData, H2O.ai, AWS, Big Squid, Microsoft, Determined.ai, SAS Institute, Squark and EdgeVerve Systems
DUBLIN, February 8, 2022 /PRNewswire/ — The “Automated Machine Learning Market Research Report – Global Industry Analysis and Growth Forecast to 2030” report has been added to from ResearchAndMarkets.com offer.
From $346.2 million in 2020, the automated machine learning market is expected to reach $14,830.8 million by 2030, showing a CAGR of 45.6% from 2020 to 2030.
The major factors driving the market are growing need for effective fraud detection solutions, growing demand for personalized product recommendations, and growing need for predictive lead scoring.
The COVID-19 pandemic has contributed significantly to the evolution of digital business models, with many healthcare companies adopting machine learning-enabled chatbots to enable contactless COVID-19 symptom screening.
Additionally, Clevy.io, which is a France, and Amazon Web Services (AWS) have launched a chatbot to facilitate the process of finding official government communications about COVID-19 infection. Thus, the pandemic has had a positive impact on the market.
The service category, under the supply segment, is expected to show the fastest growth in the coming years. This is attributed to the growing need for implementation and integration, consulting and maintenance services as they help improve business productivity and increase coding activities. Moreover, these services help automate workflows, which, in turn, enables the mechanization of complex operations.
The cloud category dominated the AutoML market, in the deployment type segment, in the past. Additionally, this category is expected to grow rapidly in the coming years due to the flexibility and scalability provided by cloud-based automatic machine learning (AutoML) solutions.
Geographically, North America held the largest share in the past, and this trend is expected to continue in the coming years. This is attributed to the surge in venture capital funding by artificial intelligence (AI) companies for research and development (R&D), to advance AutoML.
Asia Pacific (APAC) is expected to be the fastest growing market region in the coming years. This is attributed to the growing investments in information technology (IT) and growing adoption of fintech in the region. Additionally, the growing government focus on integrating AI across multiple verticals is supporting the advance of the market in the region.
For example, in October 2021, Hivecell, which is a cutting-edge service company, has partnered with DataRobot Inc. to solve larger challenges and barriers at the edge, addressing various ML models both on-premises and outside the data closet. By incorporating both solutions, businesses can make data-driven decisions more efficiently.
Major AutoML market players include DataRobot Inc., dotData Inc., H2O.ai Inc., Amazon Web Services Inc., Big Squid Inc., Microsoft Corporation, Determined.ai Inc., SAS Institute Inc., Squark and EdgeVerve Systems Limited.
- Increased preference for cloud-based AutoML platform
- Growing demand for effective fraud detection solutions
- Growing need for personalized product recommendations
- Growing Importance of Predictive Lead Scoring
- Analysis of impact of drivers on market forecasts
- Slow adoption of AutoML in developing countries
- Impact Analysis of Restrictions on Market Forecast
- Growing healthcare industry
- Growing Importance of Effective Product Assortment
Impact of COVID-19
Porter’s Five Forces Analysis
Definition of market segments
- A service
By type of deployment
By business size
- Fraud detection
- Sales and Marketing Management
- Medical tests
- Transport optimization
- IT & Telecom
- Health care
Value chain analysis
- DataRobot Inc.
- H2O.ai Inc.
- dotData Inc.
- Edge Verve Systems Limited
- Amazon Web Services Inc.
- Big Squid Inc.
- SAS Institute Inc.
- Microsoft Corporation
- Determined.ai Inc.
For more information on this report, visit https://www.researchandmarkets.com/r/ceafiz
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SOURCE Research and Markets