The automated machine learning market provides machine learning platform that helps data scientists, researchers, and developers in building, training, and deploying machine learning models without prior knowledge of coding. Automated machine learning platforms automate the end-to-end machine learning workflow, which enables easy building of machine learning models for various industry verticals like banking, e-commerce, healthcare, and manufacturing. The rising demand for predictive analysis across industries is driving the adoption of automated machine learning as the platforms help organizations access predictive insights without investing in extensive data science teams.

The global automated machine learning market is estimated to be valued at USD 3.13 billion in 2024 and is expected to exhibit a CAGR of 48.2% over the forecast period 2024-2031.

Key players operating in the automated machine learning are Anthropic, H2O.ai, BigML, DataRobot, Google Cloud, Microsoft Corporation, Hive, Fiddler AI, and Anthropic.

Key Takeaways
- Key players operating in the automated machine learning are Anthropic, H2O.ai, BigML, DataRobot, Google Cloud, Microsoft Corporation, Hive, Fiddler AI, and Anthropic. DataRobot is one of the prominent players in the market with its automated machine learning platform that helps businesses in deploying machine learning models.

- Automated Machine Learning Demand for predictive analytics across organizations is fueling the adoption of automated machine learning platforms. Automated machine learning helps businesses access predictive insights without investing in extensive data science teams.

- Technological advancements are enabling automated machine learning platforms to build complex models autonomously. Platforms are leveraging techniques like neural architecture search, transfer learning, and multi-task learning to automate machine learning workflows.

Market Trends
- Growth of Cloud-Based Solutions: More companies are adopting cloud-based automated machine learning solutions as these solutions do not require expensive infrastructure and provide easy scaling.

- Integration with BI Tools: Vendors are integrating automated machine learning platforms with business intelligence and analytics tools to help business users easily access insights from machine learning models.

Market Opportunities
- Scope in Emerging Industries: Industries like agriculture, manufacturing have started adopting automated machine learning but there remains significant scope for growth in these sectors.

- Advancing Explainable AI: With the focus increasing on the explainability of machine learning models, there are opportunities for automated machine learning platforms to incorporate explainable AI techniques.

Impact of COVID-19 on Automated Machine Learning Market Growth

The COVID-19 pandemic has significantly impacted the growth of automated machine learning market. During the initial phases of pandemic in 2020, many companies witnessed decline in their revenues due to supply chain disruptions and lockdown restrictions imposed by governments globally. This led to reduced spending on IT infrastructure including machine learning solutions. However, with the rising focus on digitization and work from home culture, the demand started reviving from late 2020.

The pandemic accelerated the need for advanced AI and machine learning techniques to automate various tasks and operations. Many organizations rapidly adopted automated machine learning solutions to analyze huge volumes of customer data and get useful insights for improving their business strategies. The healthcare sector extensively used automated machine learning for COVID-19 vaccine research, drug discovery, predictive analysis of spread and more. Educational institutions too deployed these tools for personalizing online learning experiences.

With global economies gradually recovering, IT spending is projected to surge in 2021 and beyond. More companies will leverage automated machine learning to automate key business processes, enhance customer experience and gain competitive advantage. The market is expected to witness exponential growth particularly in industries like eCommerce, transportation, banking, manufacturing etc. Vendors are focusing on enhancing the capabilities of their automated machine learning platforms to capture untapped opportunities arising due to the ongoing digital transformation.

Geographical Regions with High Automated Machine Learning Market Concentration

North America has been the largest regional market for automated machine learning globally. The region is home to major technology giants and startups involved in developing automated machine learning solutions. Availability of skilled workforce, strong infrastructure and growing AI adoption across industries including healthcare, automotive, retail, government contribute to the high market concentration in North America.

Coming to Asia Pacific, China has emerged as the fastest growing regional market. Chinese government's continued support for AI innovation through funding programs has encouraged local companies to invest heavily in machine learning technologies. Presence of a huge customer base and rapid digitization of businesses post covid is propelling the automated machine learning market growth in China.

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