PUBLISHER: The Business Research Company | PRODUCT CODE: 1681849
PUBLISHER: The Business Research Company | PRODUCT CODE: 1681849
Automated machine learning solutions, categorized as software platforms, streamline and automate the entire process of developing machine learning models. These AutoML solutions are designed to automate crucial tasks in the machine learning model development lifecycle, including feature engineering, model selection, hyperparameter tuning, and model evaluation. This comprehensive automation simplifies the intricate workflow associated with building machine learning models.
The primary offerings of automated machine learning solutions include platforms and services, and they can be deployed either on-premise or on the cloud. In a broader context, a platform serves as a foundation or framework supporting various activities, functions, or applications. AutoML platforms offer an integrated environment that facilitates the seamless execution of the end-to-end machine learning process. Enterprises, ranging from large enterprises to SMEs, across industries such as BFSI, retail and e-commerce, healthcare, and manufacturing, deploy automated machine learning solutions to enhance their machine learning capabilities.
The automated machine learning solution market research report is one of a series of new reports from The Business Research Company that provides automated machine learning solution market statistics, including automated machine learning solution industry global market size, regional shares, competitors with an automated machine learning solution market share, detailed automated machine learning solution market segments, market trends and opportunities, and any further data you may need to thrive in the automated machine learning solution industry. This automated machine learning solution market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The automated machine learning solution market size has grown exponentially in recent years. It will grow from $2.12 billion in 2024 to $3.13 billion in 2025 at a compound annual growth rate (CAGR) of 47.9%. The growth in the historic period can be attributed to growing demand for predictive models, data-driven decision-making, increasing demand for predictive lead scoring systems, optimization of processes.
The automated machine learning solution market size is expected to see exponential growth in the next few years. It will grow to $14.89 billion in 2029 at a compound annual growth rate (CAGR) of 47.7%. The growth in the forecast period can be attributed to increasing demand for efficient fraud detection solutions, demand for intelligent business processes is rising, rising need to automate the financial sector, increasing adoption in various industries, emerging educational interest. Major trends in the forecast period include subscription-based models, technological advancement, cloud and serverless computing,.
The growing demand for effective fraud detection solutions is expected to fuel the expansion of the automated machine learning solution market in the future. Fraud detection solutions encompass a range of tools, technologies, and methodologies aimed at identifying and preventing fraudulent activities within various systems, processes, or transactions. Machine learning is increasingly being utilized in fraud detection applications to address the escalating threat of financial fraud. For instance, in February 2023, as reported by the Financial Crimes Enforcement Network, a U.S.-based government agency, the upward trend continued into 2022, with the number of SARs (Suspicious Activity Reports) related to check fraud exceeding 680,000, nearly doubling the filings from the previous year. Consequently, the rising demand for effective fraud detection solutions is expected to drive the growth of the automated machine learning solution market.
Key players in the automated machine learning solution market are actively embracing new technological advancements to fortify their market positions. Technological innovations in automated machine learning (ML) solutions focus on improved model interpretability and seamless integration to facilitate streamlined and efficient machine learning model development. In April 2023, AND Solutions Pte Ltd., a Singapore-based fintech company providing automated machine learning solution platforms, introduced the NIKO AutoML platform. This innovative machine-learning tool is designed to simplify and accelerate the creation of prediction models. Equipped with various tools and functionalities, the NIKO AutoML platform empowers users to swiftly and effortlessly develop and deploy high-quality machine learning models without requiring coding or data science expertise. The user-friendly interface guides users through each step of the process, delivering optimal results in a fraction of the time typically associated with traditional approaches. NIKO AutoML offers several advantages, including rapid and accurate model creation, streamlined workflow, heightened productivity, and cost-effectiveness.
In January 2023, MCKINSEY & COMPANY INC., a U.S.-based management consulting firm, acquired Iguazio LTD. for an undisclosed amount. This acquisition is intended to enhance McKinsey's AI deployment capabilities, facilitating scalable, real-time AI solutions that deliver increased business value for clients. By combining Iguazio's advanced technology with QuantumBlack, McKinsey aims to provide industry-specific AI solutions with greater efficiency and reliability. Iguazio LTD is an Israel-based software development company specializing in automated machine learning solutions.
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
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.
The countries covered in the automated machine learning solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The automated machine learning solutions market consist of revenues earned by entities by providing services such as automated machine learning solutions services. AutoML solutions aim to automate these tasks, enabling individuals with diverse backgrounds to leverage machine learning without extensive manual intervention. The market value includes the value of related goods sold by the service provider or included within the service offering. Automated machine learning solutions market also include sales of cloud-based services, virtual reality, and augmented reality systems that are used in providing solutions for enhanced automated machine learning solutions and the overall well-being of individuals. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Automated Machine Learning Solution Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on automated machine learning solution market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for automated machine learning solution ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The automated machine learning solution market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.