Artificial intelligence (AI) or machine learning is considered as the future of this planet. Automated machine learning (AutoML) basically is the process of automation that streamlines several tasks related to machine learning application for the purpose of several modern-day problems. Automated machine learning (AutoML) has inbuilt data, that helps in creating the machine learning model and its deployment. One of the biggest reason why the automated machine learning is considered the future is constant technological advancement and use of the artificial intelligence. Businesses are betting heavily on AutoML because it helps in dealing with loads of data that can be used to deriving solutions to several real-world problems. Meanwhile, the AutoML technology is taking massive steps on the path of progress with the help of the cloud hosting or data storage technology. The cloud not just helps in increasing accessibility related to machine learning capabilities but also in optimizing heavy loads of data.
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Companies like Amazon Web Services Inc., Google and Microsoft are heavily investing in the cloud automated machine learning market, and aiming to provide these solutions at affordable rate. Owing to many factors, the global cloud automated machine learning (AutoML) market is growing. The factors that provides massive impetus to the growth of the global cloud automated machine learning (AutoML) market is surging adoption of these platforms across numerous verticals for the purpose of bringing down frauds, operational costs and enhancing the customer service. Also, the fact that boosts this market’s growth is extensive AI implementation across numerous sectors, including government organizations.
The global cloud automated machine learning (AutoML) market is expected to face roadblocks, owing to sluggish adoption of tools associated with the automated machine learning. On the other hand, rising popularity of online shopping, increasing demand for content that is personalized is the reason why the global cloud automated machine learning (AutoML) market is forecasted to grow rampantly in coming few years.
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Global Cloud Automated Machine Learning (AutoML) Market Report Highlights
- The global cloud automated machine learning (AutoML) market was worth US$ 589.7 Mn in 2021, expected to grow at a CAGR of 36.7% over the forecast period (2022 – 2030)
- The enterprise segment of the global cloud automated machine learning (AutoML) market has been bifurcated into large enterprise and small and medium size organizations. Owing to its integration with cloud, smaller organizations can easily access this technology, and this is the reason the segment will mint massive money.
- The region of Asia Pacific is forecasted to make tremendous money at the rapid speed for the global cloud automated machine learning (AutoML) market during the forecast period 2022-2030. The booming IT sector in India, is the biggest reason behind this. Along with this, immense technological advancement in countries like China, Japan and South Korea also provides impetus to this market’s growth.
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Some of the players operating in the global cloud automated machine learning (AutoML) market are:
- Amazon Web Services Inc.
- Auger
- DataRobot Inc.
- EdgeVerve Systems Limited
- H20.ai Inc.
- IBM
- JADBio – Gnosis DA S.A.
- Microsoft
- QlikTech International AB
- SAS Institute Inc.
- Other Market Participants
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Global Cloud Automated Machine Learning (AutoML) Market Segmentation
Absolute Markets Insights has segmented into the global cloud automated machine learning (AutoML) market on the basis of offering, enterprise size, application, industry and region further into countries.
Global Cloud Automated Machine Learning (AutoML) Market Offering Outlook (Revenue, USD Million, 2015 – 2030)
- Platform
- Services
Global Cloud Automated Machine Learning (AutoML) Market Enterprise Size Outlook (Revenue, USD Million, 2015 – 2030)
- Large Enterprise
- Small and Medium Size organizations
Global Cloud Automated Machine Learning (AutoML) Market Application Outlook (Revenue, USD Million, 2015 – 2030)
- Document Classification
- Sentiment analysis
- Video analysis
- Object detection in images
- Face detection from images
- Cybersecurity
- Risk Assessment
- Speech Recognition
- Others
Global Cloud Automated Machine Learning (AutoML) Market Industry Outlook (Revenue, USD Million, 2015 – 2030)
- Banking, Finance and Insurance
- IT and Telecom
- Agriculture
- Media and Entertainment
- Healthcare
- Government
- Retail
- Manufacturing
- Transportation and Logistics
- Energy and Utilities
- Others
Global Cloud Automated Machine Learning (AutoML) Market Regional Outlook (Revenue, USD Million, 2015 – 2030)
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
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