According to a new report, published by KBV research, The Global Automated Machine Learning Market size is expected to reach $9.1 billion by 2029, rising at a market growth of 42.9% CAGR during the forecast period.
The Feature Engineering segment is showcasing a CAGR of 43.2% during (2023 - 2029). Automated feature engineering aims to assist the data scientist with the problem of feature development by automatically constructing hundreds or thousands of new features from a dataset. Feature engineering is to produce new features that can represent as much data from a whole dataset as possible in a single table.
The Solution segment acquired maximum revenue share in the Global Automated Machine Learning Market by Offering in 2022 thereby, achieving a market value of $6.6 billion by 2029. The activities associated with creating and deploying machine learning models can be automated with autoML solutions. Due to the lack of considerable data science or machine learning knowledge needed, it is now simpler for enterprises to take use of the power of machine learning. When it comes to utilizing the power of machine learning to obtain insights from their data and improve decision-making, autoML solutions have become an increasingly crucial tool for businesses.
The IT & Telecom segment has shown the growth rate of 41.5% during (2023 - 2029). Machine learning & deep learning is crucial in the IT industry. Machine learning (ML) is concerned with developing software to analyze data according to predetermined rules. This type of program makes changes on its own, without the assistance of a human, and then uses the studied data to produce the intended result. A machine is taught to analyze vast amounts of data using ML techniques and then to carry out particular jobs.
The North America market dominated the Global Automated Machine Learning Market by Region in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $3.5 billion by 2029. The Europe market is exhibiting a CAGR of 42.3% during (2023 - 2029). Additionally, The Asia Pacific market would display a CAGR of 44.2% during (2023 - 2029).
Full Report: https://www.kbvresearch.com/automated-machine-learning-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Oracle Corporation, IBM Corporation, Microsoft Corporation, Google LLC (Alphabet Inc.), Amazon Web Services, Inc. (Amazon.com, Inc.), Salesforce, Inc., Hewlett-Packard enterprise Company, Teradata Corporation, Alibaba Cloud (Alibaba Group Holding Limited) and Databricks, Inc.
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