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Automated Machine Learning Global Market Report 2023: Sector to Reach $15,499 Million by 2030 at a CAGR of 49.2%
Global Automated Machine Learning Market
Dublin, March 03, 2023 (GLOBE NEWSWIRE) -- The "Global Automated Machine Learning Market Size and Share Analysis By Offering, Deployment Type, Enterprise Size, Application, Industry - Industry Demand Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
In 2022, the automated machine learning market size stood at USD 631 million, which is projected to witness a 49.2% CAGR during 2022-2030, reaching USD 15,499.3 million by 2030 as per the report.
The major factors accountable for the development of the market include the growing demand for effective fraud-finding solutions and the rising need for personalized product recommendations.
In 2022, The platform category generated the larger revenue share, of 73%, on the basis of offering. This growth can be credited to the growing acceptance of such platforms across all verticals for operational cost reduction, customer service improvement, and fraud deduction.
Furthermore, the pandemic helped in lifting digital transformation in nearly every industry, like healthcare, manufacturing, and BFSI, which is contributing to the adoption of this technology.
In 2022, The cloud category held the higher market share, on the basis of deployment type. This is due to the advanced flexibility and scalability of cloud-based automated machine-learning channels, which clients can modify according to their needs. Furthermore, as the cloud lessens the infrastructure and operational expenses, a huge number of businesses are more and more accepting cloud-based solutions.
On the basis of application, the sales and marketing management category are set to witness the fastest growth in the coming years. this can be owed to the huge number of businesses are utilizing such platforms in order to gain insights into buyer emotion and offer content personalization, customer segmentation, customer engagement, and lead scoring.
On the basis of industry, the healthcare category is set to experience the highest growth in the coming years. This is due to the hike in the demand for ML by the healthcare sector for the early recognition of illnesses, training, research and treating patients fast and efficiently, while reducing money, time, and resources.
In 2022, North America accounted for the highest revenue in the automated machine learning market. this can be credited to the advanced information technology infrastructure, prosperous BFSI, IT & telecom, the existence of main AutoML platform providers, and the healthcare sector are the key factors boosting the market growth in the continent.
The APAC market is projected to experience the fastest growth in the forecast period. This is because of snowballing spending on the IT infrastructure, a growing number of government efforts for the growth of AI technologies, and smooth economic development.
Additionally, APAC nations are preferring destinations for IT outsourcing. Credited to this, IT businesses are obtaining significant requests for application development, which fuels the growth of the market.
Thus, the growing demand for effective fraud-finding solutions and the rising need for personalized product recommendations will drive the automated machine-learning industry in the future.
Report Metrics:
Report Attribute | Details |
No. of Pages | 221 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $631 Million |
Forecasted Market Value (USD) by 2030 | $15499.3 Million |
Compound Annual Growth Rate | 49.2% |
Regions Covered | Global |
Key Topics Covered:
Table of Contents
Chapter 1. Research Background
Chapter 2. Research Methodology
Chapter 3. Executive Summary
Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Technology
4.1.1.1 Optical
4.1.1.2 Radar
4.1.2 By Application
4.1.2.1 Defense
4.1.2.2 Natural resources
4.1.2.3 Energy
4.1.2.4 Infrastructure
4.1.2.5 Location-based services (LBS)
4.1.2.6 Maritime
4.1.2.7 Disaster management
4.1.2.8 Others
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Hyperspectral image processing for automatic target detection
4.3.1.2 High resolution satellite imagery for effective crop management
4.3.2 Drivers
4.3.2.1 Growing demand for location-based service (LBS)
4.3.2.2 Surge in application of satellite imagery in various sectors
4.3.2.3 Technological advancements in satellite imaging
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraints
4.3.3.1 High resolution aerial services to hinder the growth of the market
4.3.3.2 Lack of clarity in transmitted images to hamper the growth of the market
4.3.3.3 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Earth science analytics in energy and petroleum industry
4.3.4.2 Innovative developments in satellite imaging technology
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Buyers
4.4.2 Bargaining Power of Suppliers
4.4.3 Intensity of Rivalry
4.4.4 Threat of New Entrants
4.4.5 Threat of Substitutes
Chapter 5. Global Market Size and Forecast
5.1 By Technology
5.2 By Application
5.3 By Region
Chapter 6. North America Market Size and Forecast
6.1 By Technology
6.2 By Application
6.3 By Country
Chapter 7. Europe Market Size and Forecast
7.1 By Technology
7.2 By Application
7.3 By Country
Chapter 8. APAC Market Size and Forecast
8.1 By Technology
8.2 By Application
8.3 By Country
Chapter 9. LATAM Market Size and Forecast
9.1 By Technology
9.2 By Application
9.3 By Country
Chapter 10. MEA Market Size and Forecast
10.1 By Technology
10.2 By Application
10.3 By Country
Chapter 11. Competitive Landscape
11.1 Satellite Imagery Pricing Comparison
11.2 Global Strategic Developments of Key Players
11.2.1 Mergers & Acquisitions
11.2.2 Partnerships
11.2.3 Product Launches
11.2.4 Other Developments
Chapter 12. Company Profiles
Chapter 13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/31df9n
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