Increasing Need for Personalized Product Recommendations to Drive Automated Machine Learning Solution Market Growth by 2028
Rising importance of
predictive lead scoring to drive the market of the global automated machine
learning solution market in the forecast period of 2024-2028.
According to
TechSci Research report, “Automated Machine Learning Solution Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast, 2028”, the global
automated machine learning solution market is anticipated to register a robust
growth during the forecast period. Global automated machine learning
solution market is growing due to the rising demand for advanced fraud
detection systems. For forecasting,
grouping, and classification purposes, supervised neural networks are one of
the most used data analysis approaches. Organizations are anticipated to invest
in automated machine learning to increase consumer confidence and guarantee
legal compliance.
Automated Machine
Learning has automated more than 40% of the data science tasks so that the data
scientists can move their attention to core processes and make better use of
their skills. The machine learning tools assist the data scientists in model
creation by taking into consideration each aspect of different business
applications like marketing analytics or client analytics.
A firm can only
benefit from large data sets if they are processed correctly. Each and every
piece of data must be carefully gathered, refined, cleansed, and made
analysis-ready in order to yield superior insights. AutoML is a procedure that
enables enterprises of all shapes and sizes to utilize machine learning to its
fullest potential. Your company's data is a priceless asset that autoML can
effectively manage. Additionally, autoML can assist companies in finding
previously hidden chances for optimization and development. AutoML can detect
patterns and trends by analyzing massive amounts of data, allowing organizations
to make data-driven choices to boost performance and spur expansion.
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Market Data Figures spread through XX Pages and an in-depth TOC on "Global Automated Machine Learning Solution Market”
The automated machine learning solution market is
segmented into offering, deployment, automation type, enterprise size,
end-users, company, and region. Based on offering, the market is segmented into
platform and service. Based on deployment, the market is
segmented into on-premise and cloud. Based on automation
type, the market is segmented into data processing,
feature engineering, modeling, and visualization. Based on enterprise
size, the market is segmented into large enterprise
and SMEs. Based on end-users, the market is
segmented into BFSI, retail and e-commerce, healthcare, and manufacturing.
Based on region, the market is segmented into North America,
Asia-Pacific, Europe, South America, and Middle East & Africa.
With
internet connections becoming more dependable and remote work becoming more
commonplace, cloud computing has seen a surge in use over the past several
years. In comparison to on-premises systems, cloud-based autoML solutions are
more flexible and scalable since they are simple to scale up or down to match
changes in workload or data volume. Additionally, pay-as-you-go pricing is
frequently available with cloud-based systems, which can be more economical for
businesses with varying workloads. For a decentralized team, installing and
maintaining traditional software may be exceedingly difficult. On the other
hand, cloud-based software allows for remote access by anybody. The cloud is
especially helpful for SMEs since it offers complete capability at an affordable
price and doesn't require an initial investment.
The
BFSI sector has utilized AI and machine learning more often to boost
operational effectiveness and enhance the customer experience. The demand for
machine learning BFSI applications rises as data receive more attention. Large
amounts of data, reasonably priced computing power, and cost-effective storage
may be used in automated machine learning to deliver precise and quick results.
Additionally, by collaborating with other fintech services, businesses will be
able to adapt to contemporary needs and laws while enhancing safety and
enabling security thanks to the machine learning-led approach to system
modernization.
Key market
players in the global automated machine learning solution market:
- Datarobot Inc.
- Amazon Web Services Inc.
- dotData Inc.
- IBM Corporation
- Dataiku
- EdgeVerve Systems Limited
- Big Squid Inc.
- SAS Institute Inc.
- Microsoft Corporation
- Determined.ai Inc.
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“The
market region with the fastest projected growth in the coming years is Asia-Pacific
(APAC). The rising acceptance of FinTech in the region and greater investment
in information technology (IT) are to blame for this. Regional markets are also
being developed because of rising government interest in integrating AI across
many industries. China is seeing a rise in the use of machine learning, which
is being used by businesses to improve industrial processes, identify financial
fraud, and propose items to customers. As a result of erroneous predictions
provided by machine learning algorithms that are not supported by clean data
and a strong data infrastructure, many machine learning initiatives fail Investments are received by several businesses operating all
throughout the country from a variety of sources, assisting in the expansion of
the global automated machine learning solution market.” said, Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Automated Machine Learning Solution Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028. Segmented By Offering (Platform and Service), By
Deployment (On-Premise and Cloud), By Automation Type (Data Processing, Feature
Engineering, Modeling, and Visualization), By Enterprise Size (Large Enterprises
and SMEs), By End-users (BFSI, Retail and E-Commerce, Healthcare, and
Manufacturing), By Region and Competition”, has
evaluated the future growth potential of automated machine learning solution
market and provides statistics & information on market size, structure, and
future market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in automated machine learning solution market.
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