press release
Published May 23, 2023
“IBM (US), Oracle (US), Microsoft (US), ServiceNow (US), Google (US), Baidu (China), AWS (US), Alteryx (US), Salesforce (US), Altair (US) , Teradata (US), H2O.ai (US), DataRobot (US), BigML (US), Databricks (US), Dataiku (France), Alibaba Cloud (China), Appier (Taiwan), Squark (US), Aible (US), Datafold (US), and SparkCognition (US).
Automated Machine Learning (AutoML) Market by Offerings (Solutions and Services), Applications (Data Processing, Model Selection, Hyperparameter Optimization and Tuning, Feature Engineering, Model Ensembles), Verticals and Regions – World to 2028 predict
The automated machine learning market is estimated to grow from US$ 1 billion in 2023 to US$ 6.4 billion by 2028, at a CAGR of 44.6% during the forecast period. Automatic machine learning (AutoML) is a subset of artificial intelligence (AI) that allows users to create machine learning applications without requiring extensive knowledge of statistics or machine learning. This simplifies the process of building high-performance machine learning applications that traditionally required dedicated data scientists and domain experts. AutoML has come a long way in recent years, thanks to advances in data science and AI.
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Healthcare and life sciences account for higher CAGR during the forecast period
The AutoML for healthcare market is segmented into various applications such as anomaly detection, disease diagnosis, drug discovery, chatbots and virtual assistance, and others (clinical trial analysis and electronic medical record (EHR) analysis). In the healthcare and life sciences industry, AutoML helps automate various tasks such as disease diagnosis, drug discovery, and patient care. AutoML can be used to analyze large amounts of medical data, such as electronic medical records, medical images, and genomic data, to identify patterns and make predictions. This helps medical professionals make more accurate diagnoses, identify potential treatments, and improve patient outcomes. AutoML can also be used in drug discovery to identify potential drug candidates and optimize the drug development process. By analyzing molecular structure, genetic data, and other factors, AutoML helps identify potential drug targets and optimize drug efficacy and safety. AutoML can also be used to monitor patient progress and adjust treatment plans as needed. Implementation of AutoML in healthcare and life sciences should be done carefully considering ethical and regulatory concerns.
Service Segment Considers Higher CAGR During Forecast Period
The automated machine learning market is bisected based on solution and service offerings. His CAGR of services is estimated to be the highest during the forecast period. The AutoML service enables users to automate various tasks related to building and deploying machine learning models, including feature engineering, hyperparameter tuning, model selection, and deployment. These services are designed to make it easy for businesses and individuals to harness the power of machine learning without requiring extensive knowledge or expertise in the field.
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Major players operating in the global automated machine learning market are IBM (US), Oracle (US), Microsoft (US), ServiceNow (US), Google (US), Baidu (China), AWS (US) , Alteryx (US), Salesforce (US), Altair (US), Teradata (US), H2O.ai (US), DataRobot (US), BigML (US), Databricks (US), Dataiku (France), Alibaba Cloud (China), Appier (Taiwan), Squark (US), Aible (US), Datafold (US), Boost.ai (Norway), Tazi.ai (US), Akkio (US), Valohai (Finland), dotData ( US), Qlik (US), Mathworks (US), HPE (US), and SparkCognition (US). These automated machine learning vendors employ various organic and inorganic strategies to maintain their position in the global market and grow their market share.
ServiceNow Inc. is known for providing enterprise cloud computing solutions. It delivers digital workflows on a single enterprise cloud platform called the Now Platform. The company’s product portfolio is primarily focused on information technology and employee and customer workflow delivery. ServiceNow offers IT operations management solutions covering service mapping, delivery and assurance solutions. Business management such as performance analysis including financial management, project portfolio suites, vendor performance management, governance, risk and compliance. and application development services. The company has operations in North America, Europe, the Middle East, Africa, Asia Pacific and more. In recent years, ServiceNow has also invested heavily in the area of automated machine learning (AutoML). The company’s AutoML platform, called Now Intelligence, is designed to help businesses build and deploy machine learning models more efficiently. Now Intelligence offers a variety of capabilities including data ingestion, data preparation, model training and deployment. The platform is built on ServiceNow’s core platform, so the customer can leverage his existing ServiceNow data and workflows to build machine learning models without having to learn new tools or languages. ServiceNow’s Now Intelligence platform is positioned as a key player in the AutoML market as demand for AI and machine learning solutions grows across industries.
Baidu is a leading Chinese technology company founded in 2000 and headquartered in Beijing, China. We provide a variety of Internet-related services such as search engines, online advertising, cloud storage, and artificial intelligence (AI) solutions. The company is one of the largest AI and Internet companies focused on developing cutting-edge technologies to improve people’s lives. The company operates through segments ranging from transaction services, iQIYI and search services, offering vertical search-based products for end-users and online marketing services for multinational corporations, domestic large corporations and SMEs. offers many. Baidu App, Baidu Search, Baidu Feed, Haokan, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Maps, Baidu IME, popIn, Simeji, Facemoji are products provided to end users, Pay for Placement (P4P ) and non-P4P are online marketing services offered to customers. Baidu’s services cover a wide range of fields, including medical care, education, finance, transportation, and self-driving cars. The company has a significant presence in China, with headquarters in Beijing and offices nationwide, as well as international offices in the United States, Japan and other regions. In autoML, Baidu offers his platform called EZDL that allows users to create and train their own deep learning models without requiring extensive programming knowledge. EZDL uses a drag-and-drop interface and offers pre-built templates for various tasks such as image classification and object detection. It also provides automatic model tuning and optimization to improve model accuracy. Baidu’s autoML platform is designed to be accessible to a wide range of users, including small businesses.
Salesforce is a US cloud-based software provider of CRM software and apps focused on sales, customer service, marketing automation, analytics, and application development. Salesforce has a community of over 10 million innovators, disruptors, and community builders called Trailblazers. The company offers a broad range of products and services across segments, including sales, services, marketing, applications, analytics, employee experience, pioneering and reskilling, enablement and collaboration, most of which are delivered in a single trusted cloud. works on the platform. Its services can be easily deployed through mobile devices and Internet browsers, and integrated with other platforms and enterprise applications. Salesforce has a cross-cloud technology called Salesforce 360 that allows customers to get a single, unified and comprehensive customer profile across departments. The company serves a variety of industries including BFSI, Healthcare and Life Sciences, Government, Telecommunications, Retail, Consumer Goods, Media, Manufacturing, Transportation, Hospitality, Automotive and Education. Geographically, we are based in North America, Europe, APAC and MEA. In the AutoML market, Salesforce offers the Einstein AI Platform, which offers ML, NLP, and computer vision solutions. Einstein also offers various tools such as Einstein Discovery, Einstein Prediction Builder, Einstein Next Best Action, Einstein Language, Einstein Bots, Einstein Vision, and more. With AutoML, Salesforce integrates AI and machine learning into its products to help companies automate and improve their data analysis and decision-making processes. The company’s AI platform, Einstein, offers a variety of capabilities such as natural language processing, predictive analytics, and automated data preparation. Additionally, Salesforce has made partnerships and acquisitions in the AutoML space, including a partnership with Google Cloud to integrate AutoML tools into its Customer 360 platform and the acquisition of Tableau, which has built-in automl capabilities.
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