AutoML Market Size, Trends, Company Profiles, Growth Rate, Trends and its Emerging Opportunities

1. What is Role of Enhanced Customer Engagement behind Monumental Automated Machine Learning (AutoML) Market Growth? The major reasons behind the growth of the automated machine learning (autoML) market are the rising demand for advanced fraud detection solutions and personalized recommendations on various products and increasing awareness about predictive lead scoring. Due to these reasons, the market size is expected to increase from $269.6 million in 2019 to $14,511.9 million by 2030, at a 43.7% CAGR during 2020–2030 (forecast period), as per market research firm P&S Intelligence. Get the Sample Copy https://www.psmarketresearch.com/market-analysis/automated-machine-learning-mar ket/report-sample On the basis of offering, the ​autoML market has been bifurcated into service and platform, of which the platform bifurcation held the larger share during the historical period (2014–2019). This was because of the rapid deployment of this technology in almost every industry, for operational cost reduction, fraud minimization, and enhanced customer service. In the forecast period, higher CAGR will be witnessed by the service bifurcation, on account of the rising demand for implementation, integration, consulting, and maintenance services. of this Report @ Similarly, the automated machine learning market has been categorized into sales & marketing management, fraud detection, transport optimization, and medical testing,

2. when segmented by application. In 2019, the sales & marketing management category dominated the market, and it would also witness the fastest growth during the forecast period. This is attributed to the increasing deployment of the autoML technology for studying the emotions of customers and further offering personalized content, generating leads, segregating and engaging with customers. “​Increasing Demand for Efficient Fraud Detection Solution is Driving the AutoML Market​” The autoML market is currently witnessing the trend of the deployment of the related solutions over the cloud. With the cloud-based software-as-a-service (SaaS) model, the solutions can be accessed virtually, via an encrypted and secure internet platform. In addition, the usage of cloud makes the software easily scalable, accessible from anywhere, as well as cost-effective, as companies do not need to deploy expensive information technology infrastructure (IT) on their premises. One of the major reasons for the increasing demand for autoML solutions is the rising number of cyber frauds, which has put the limelight on fraud detection and prevention solutions. Traditional ML and big data technologies require extensive domain knowledge, while data exploration, data preprocessing, training, missing-data handling, model selection, feature engineering, and evaluation require numerous processes. Additionally, with the imbalanced and askew datasets, in terms of the negative and positive classes, the

3. use of autoML for optimizing all the above-mentioned process, without the involvement of humans, is growing. “AutoML Market is Set to Boom Due to ​Growing Need for Personalized Product Recommendation” Lucrative opportunities are being offered to the automated machine learning market by the rising need for effective assorting of products. Retail stores need to have the right variety of products, to attract maximum customers and increase sales. By analyzing customer segments, location, store display space, weather patterns, and past sales records, the technology can tell the retailer about the products which should be offered at the store. Similarly, the expanding healthcare sector is rapidly integrating such solutions to deal with patient outcome, cost, and medical error reporting challenges. Make Enquiry Before https://www.psmarketresearch.com/send-enquiry?enquiry-url=automated-machine-lea rning-market On a geographical basis, North America has been the largest autoML market till now, due to its developed IT infrastructure, technological advancements, presence of numerous market players, and productive banking, financial service, & insurance (BFSI) and healthcare industries. During the forecast period, the fastest growth in the market would be experienced by Asia-Pacific (APAC). This would be a result of the robust economic growth, rapid adoption of advanced technologies, increasing IT investments, and surging government support for the development and deployment of artificial intelligence (AI), in regional countries. Thus, with the rising cases of cyber frauds and need for an enhanced customer experience, the demand for automated machine learning solutions will rise further. Purchase @