The automated machine learning market had an estimated market share worth US$ 700 million in 2023, and it is predicted to reach a global market valuation of US$ 42.2 billion by 2034, growing at a steady CAGR of 44.9% from 2024 to 2034.
The market for automated machine learning is being driven by rising customer demand for comfort and lavish features in cars. Temperature sensors make it possible for advanced temperature control systems to function, guaranteeing each individual level of comfort and satisfying the increasing consumer demands for high-end driving experiences.
Automated Machine Learning Demand Outlook
Report Attribute | Details |
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Estimated Market Value for 2023 | US$ 700 million |
Expected Market Value for 2024 | US$ 1 billion |
Projected Forecast Value for 2034 | US$ 42.2 billion |
Anticipated Growth Rate from 2024 to 2034 | 44.9% CAGR |
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The global demand for automated machine learning market was estimated to reach a valuation of US$ 0.1 billion in 2019, according to a report from Future Market Insights (FMI). From 2019 to 2023, sales witnessed significant growth in the automated machine learning market, registering a CAGR of 48.2%.
Historical CAGR from 2019 to 2023 | 48.2% |
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Forecast CAGR from 2024 to 2034 | 44.9% |
A driving factor is the growing intricacy of datasets, which calls for sophisticated analytics methods. Organizations may effectively extract important insights by using automated machine learning to handle a variety of data types, including unstructured, semi-structured, and structured data. This expertise is essential for being competitive in data-rich contexts across sectors.
Some important factors that will boost the market growth through 2034 are:
Shortage of Skilled Data Scientists to Push Companies towards Automated Machine Learning
The need to address the scarcity of qualified data scientists as well as machine learning specialists is a significant factor driving the market for automated machine learning. With the exponential expansion of data, the need for data-driven insights is outpacing the availability of expertise to meet that demand.
Automated machine learning platforms democratize AI by allowing non-experts to successfully design and deploy machine learning models. These platforms enable organizations to exploit AI technology without depending only on expensive and limited knowledge by automating repetitive jobs and simplifying complicated procedures. This accelerates the adoption of machine learning across multiple sectors.
The growing need for data-driven decision-making across sectors is one of the factors driving the market for automated machine learning. Automated machine learning streamlines the model development process, which helps firms get useful insights from large datasets.
Organizations may gain a competitive advantage and accelerate the deployment of machine learning models by automating processes like feature engineering, data preparation, and model selection. The increased understanding of AI's ability to promote innovation and improve operational efficiency is another factor driving this need.
Data Privacy and Decoding Complicated Data to Impede Market Growth
The market for automated machine learning is constrained by issues with data privacy, the difficulty of interpreting complicated models, and the lack of qualified workers who can use AI technology efficiently. Widespread adoption is further hampered by difficulties integrating automated machine learning into current workflows and the requirement for open regulatory frameworks.
To fully realize the potential of automated machine learning across companies, overcoming these obstacles will require resolving ethical issues, improving model interpretability, and funding educational and training programs.
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This section focuses on providing detailed analysis of two particular market segments for automated machine learning, the dominant solution type and the significant automation type. The two main segments discussed below are standalone solution and feature engineering type.
Solution Type | Standalone |
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CAGR from 2024 to 2034 | 44.7% |
During the forecast period, the standalone segment is likely to garner a 44.7% CAGR. Standalone automated machine learning will gain popularity as firms seek simplified AI solutions that do not require large infrastructure. With their intuitive interfaces and comprehensive automation, these stand-alone systems let companies quickly implement machine learning models with no technical knowledge.
These technologies, which emphasize the democratization of AI, enable users from all industries to take use of sophisticated analytics, promoting efficiency and creativity. Standalone solutions are flexible and scalable, meeting a range of business requirements and hastening the global adoption of AI technology.
Automation Type | Feature Engineering |
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Market Share in 2024 | 44.5% |
In 2024, the feature engineering segment is likely to acquire a 52.4% global market share. Feature engineering will gain popularity in the global automated machine learning market owing to its importance in improving model performance and interpretability. With organizations placing a growing emphasis on gleaning insightful information from intricate datasets, automated feature engineering techniques will become indispensable.
These tools allow speedier model building and deployment by automating the process of choosing, manipulating, and producing features. This helps firms stay competitive in a data-driven environment and extract actionable insights more quickly.
The markets for automated machine learning in a few significant countries, including the United States, the United Kingdom, China, Japan, and South Korea, will be covered in detail in this section. The section will focus on the primary reasons driving up demand for automated machine learning in these countries.
Countries | CAGR from 2024 to 2034 |
---|---|
The United States | 45% |
The United Kingdom | 46.1% |
China | 45.4% |
Japan | 46% |
South Korea | 47.2% |
The United States automated machine learning is anticipated to gain a CAGR of 45% through 2034. Factors that are bolstering the growth are:
The market in the United Kingdom is expected to expand with a 46.1% CAGR through 2034. The factors pushing the growth are:
The automated machine learning ecosystem in China is anticipated to develop with a 45.4% CAGR from 2024 to 2034. The drivers behind this growth are:
The automated machine learning industry in Japan is anticipated to reach a 46% CAGR from 2024 to 2034. The drivers propelling growth forward are:
The automated machine learning ecosystem in South Korea is likely to attain a 47.2% CAGR during the forecast period. The factors bolstering the growth are:
Companies are concentrating on creating platforms and solutions to democratize and simplify the machine learning process in the global automated machine learning market. Their goal is to enable companies with less data science experience to take full advantage of artificial intelligence (AI). These companies provide tools for automating a range of processes, including as feature engineering, model selection, hyperparameter tweaking, and data preparation.
They provide services to a range of sectors, including manufacturing, healthcare, retail, and finance, allowing them to effectively gather insights and make data-driven choices. These companies offer adaptable solutions designed to meet particular company requirements, placing a strong emphasis on user-friendly interfaces and reliable performance to increase accessibility and adoption. The key players in this market include:
Significant advancements in the automated machine learning sector are being made by key market participants, and these include:
Report Attribute | Details |
---|---|
Growth Rate | CAGR of 44.9% from 2024 to 2034 |
Market value in 2024 | US$ 1 billion |
Market value in 2034 | US$ 42.2 billion |
Base Year for Estimation | 2023 |
Historical Data | 2019 to 2023 |
Forecast Period | 2024 to 2034 |
Quantitative Units | US$ billion for value |
Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
Segments Covered |
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Regions Covered |
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Countries Profiled |
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Key Companies Profiled |
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Customization Scope | Available on Request |
The automated machine learning market is expected to garner a 44.9% CAGR from 2024 to 2034.
By 2024, the global automated machine learning market is likely to gain US$ 1 billion.
By 2034, the automated machine learning market valuation is likely to reach a sum of US$ 42.2 billion.
The automated machine learning industry in the United States is likely to garner a 45.0% CAGR during the forecast period.
The standalone automated machine learning solution will gain significance with a 44.7% CAGR through 2034.
By 2034, the feature engineering segment is anticipated to gain traction with a 44.5% CAGR from 2024 to 2034.
1. Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Solution 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Solution, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Solution, 2024 to 2034 5.3.1. Standalone 5.3.2. On-Premises 5.4. Y-o-Y Growth Trend Analysis By Solution, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Solution, 2024 to 2034 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Automation Type 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Automation Type, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Automation Type, 2024 to 2034 6.3.1. Feature Engineering 6.3.2. Data Processing 6.3.3. Data Modelling 6.3.4. Visualization 6.3.5. Others 6.4. Y-o-Y Growth Trend Analysis By Automation Type, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Automation Type, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End-User 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By End-User, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By End-User, 2024 to 2034 7.3.1. BFSI 7.3.2. Retail and E-Commerce 7.3.3. Healthcare 7.3.4. Manufacturing 7.3.5. Others 7.4. Y-o-Y Growth Trend Analysis By End-User, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By End-User, 2024 to 2034 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023 8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034 8.3.1. North America 8.3.2. Latin America 8.3.3. Western Europe 8.3.4. Eastern Europe 8.3.5. South Asia and Pacific 8.3.6. East Asia 8.3.7. Middle East and Africa 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Solution 9.2.3. By Automation Type 9.2.4. By End-User 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Solution 9.3.3. By Automation Type 9.3.4. By End-User 9.4. Key Takeaways 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Solution 10.2.3. By Automation Type 10.2.4. By End-User 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Solution 10.3.3. By Automation Type 10.3.4. By End-User 10.4. Key Takeaways 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. UK 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Western Europe 11.2.2. By Solution 11.2.3. By Automation Type 11.2.4. By End-User 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Solution 11.3.3. By Automation Type 11.3.4. By End-User 11.4. Key Takeaways 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Country 12.2.1.1. Poland 12.2.1.2. Russia 12.2.1.3. Czech Republic 12.2.1.4. Romania 12.2.1.5. Rest of Eastern Europe 12.2.2. By Solution 12.2.3. By Automation Type 12.2.4. By End-User 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Solution 12.3.3. By Automation Type 12.3.4. By End-User 12.4. Key Takeaways 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Country 13.2.1.1. India 13.2.1.2. Bangladesh 13.2.1.3. Australia 13.2.1.4. New Zealand 13.2.1.5. Rest of South Asia and Pacific 13.2.2. By Solution 13.2.3. By Automation Type 13.2.4. By End-User 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Solution 13.3.3. By Automation Type 13.3.4. By End-User 13.4. Key Takeaways 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Country 14.2.1.1. China 14.2.1.2. Japan 14.2.1.3. South Korea 14.2.2. By Solution 14.2.3. By Automation Type 14.2.4. By End-User 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Solution 14.3.3. By Automation Type 14.3.4. By End-User 14.4. Key Takeaways 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Solution 15.2.3. By Automation Type 15.2.4. By End-User 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Solution 15.3.3. By Automation Type 15.3.4. By End-User 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2023 16.1.2.1. By Solution 16.1.2.2. By Automation Type 16.1.2.3. By End-User 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2023 16.2.2.1. By Solution 16.2.2.2. By Automation Type 16.2.2.3. By End-User 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2023 16.3.2.1. By Solution 16.3.2.2. By Automation Type 16.3.2.3. By End-User 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2023 16.4.2.1. By Solution 16.4.2.2. By Automation Type 16.4.2.3. By End-User 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2023 16.5.2.1. By Solution 16.5.2.2. By Automation Type 16.5.2.3. By End-User 16.6. UK 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2023 16.6.2.1. By Solution 16.6.2.2. By Automation Type 16.6.2.3. By End-User 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2023 16.7.2.1. By Solution 16.7.2.2. By Automation Type 16.7.2.3. By End-User 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2023 16.8.2.1. By Solution 16.8.2.2. By Automation Type 16.8.2.3. By End-User 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2023 16.9.2.1. By Solution 16.9.2.2. By Automation Type 16.9.2.3. By End-User 16.10. Poland 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2023 16.10.2.1. By Solution 16.10.2.2. By Automation Type 16.10.2.3. By End-User 16.11. Russia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2023 16.11.2.1. By Solution 16.11.2.2. By Automation Type 16.11.2.3. By End-User 16.12. Czech Republic 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2023 16.12.2.1. By Solution 16.12.2.2. By Automation Type 16.12.2.3. By End-User 16.13. Romania 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2023 16.13.2.1. By Solution 16.13.2.2. By Automation Type 16.13.2.3. By End-User 16.14. India 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2023 16.14.2.1. By Solution 16.14.2.2. By Automation Type 16.14.2.3. By End-User 16.15. Bangladesh 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2023 16.15.2.1. By Solution 16.15.2.2. By Automation Type 16.15.2.3. By End-User 16.16. Australia 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2023 16.16.2.1. By Solution 16.16.2.2. By Automation Type 16.16.2.3. By End-User 16.17. New Zealand 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2023 16.17.2.1. By Solution 16.17.2.2. By Automation Type 16.17.2.3. By End-User 16.18. China 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2023 16.18.2.1. By Solution 16.18.2.2. By Automation Type 16.18.2.3. By End-User 16.19. Japan 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2023 16.19.2.1. By Solution 16.19.2.2. By Automation Type 16.19.2.3. By End-User 16.20. South Korea 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2023 16.20.2.1. By Solution 16.20.2.2. By Automation Type 16.20.2.3. By End-User 16.21. GCC Countries 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2023 16.21.2.1. By Solution 16.21.2.2. By Automation Type 16.21.2.3. By End-User 16.22. South Africa 16.22.1. Pricing Analysis 16.22.2. Market Share Analysis, 2023 16.22.2.1. By Solution 16.22.2.2. By Automation Type 16.22.2.3. By End-User 16.23. Israel 16.23.1. Pricing Analysis 16.23.2. Market Share Analysis, 2023 16.23.2.1. By Solution 16.23.2.2. By Automation Type 16.23.2.3. By End-User 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Solution 17.3.3. By Automation Type 17.3.4. By End-User 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Datarobot inc. 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.2. Amazon web services Inc. 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.3. dotData Inc. 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.4. IBM Corporation 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.5. Dataiku 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.6. SAS Institute Inc. 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.7. Microsoft Corporation 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.8. Google LLC 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.9. H2O.ai 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.10. Aible Inc. 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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