Automated Machine Learning (AutoML) Market Analysis

Automated Machine Learning Market Analysis

To get key market trends

  Download Free Sample

Based on offering, the automated machine learning market is divided into solution and service. The solution segment dominates the market in 2023 and is projected to exceed USD 10 billion by 2032.  As companies seek efficient and accessible AI solutions, AutoML has emerged as a pivotal offering for streamlining the machine learning process without requiring extensive expertise.

AutoML solutions encompass a range of features, from automated model selection to hyperparameter tuning for catering to organizations of all sizes and industries. With the promise of democratizing AI capabilities and accelerating time-to-insight, the demand for AutoML solutions will continue to soar, fueled by the need for scalable, cost-effective, and user-friendly machine learning solutions.

Based on deployment mode, the automated machine learning market is categorized into cloud and on-premises. The cloud segment held a major market share of around 66% in 2023. As businesses increasingly migrate their operations to the cloud, the appeal of AutoML solutions hosted on cloud platforms is growing exponentially. Cloud deployment offers scalability, flexibility, and accessibility, enabling organizations to leverage AutoML capabilities without the need for extensive infrastructure or specialized expertise.

Moreover, cloud-based AutoML solutions facilitate seamless integration with existing workflows and data sources for accelerating time-to-value and enhancing competitiveness. This surge in demand for cloud-based AutoML will underscore its pivotal role in democratizing AI while driving innovations across industries.

North America dominated the global automated machine learning market with a share of over 37% in 2023. The thriving tech ecosystem across the region is fostering innovations, further creating a fertile ground for AutoML applications across various sectors. With the shortage of skilled data scientists and the growing need for AI-driven insights, several North American businesses are turning to AutoML to streamline the machine learning process. Moreover, the strong inclination towards automation and efficiency is amplifying the appeal of AutoML solutions to offer accessible and scalable AI capabilities.