The automated machine learning solution market size is expected to see exponential growth in the next few years. It will grow to $10.07 billion in 2028 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 advancemet, cloud and serverless computing, .
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Segmentation & Regional Insights
The automated machine learning solution market 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
North America was the largest region in the automated machine learning solution market in 2023. 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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Major Driver Impacting Market Growth
Increasing demand for efficient fraud detection solutions is expected to propel the growth of the automated machine learning solution market going forward. Fraud detection solutions refer to a set of tools, technologies and methodologies designed to identify and prevent fraudulent activities within various systems, processes, or transactions. Machine learning is currently being used for fraud detection applications to combat the rising danger of financial fraud. For instance, in February 2023, according to financial crimes enforcement network (FinCEN), a US-based government agency that collects and analyze information about financial transaction, in 2021, banking institutions sent over 350,000 suspicious activity reports to FinCEN to identify suspected check fraud, a 23% increase over the number of SARs filed in 2020. The rising trend continued into 2022, with over 680,000 suspicious activity reports, nearly double the previous year’s total. Therefore, increasing demand for efficient fraud detection solutions will drive the growth of the automated machine learning solution market.
Key Industry Players
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
The automated machine learning solution market report table of contents includes:
1. Executive Summary
2. Automated Machine Learning Solution Market Characteristics
3. Automated Machine Learning Solution Market Trends And Strategies
4. Automated Machine Learning Solution Market – Macro Economic Scenario
5. Global Automated Machine Learning Solution Market Size and Growth
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32. Global Automated Machine Learning Solution Market Competitive Benchmarking
33. Global Automated Machine Learning Solution Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Automated Machine Learning Solution Market
35. Automated Machine Learning Solution Market Future Outlook and Potential Analysis
36. Appendix
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