Data Fabric Market Share, Application Analysis, Regional Outlook 2030

 

The global Data Fabric Market size to grow from USD 1.6 billion in 2022 to USD 6.2 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 30.9% during the forecast period, according to research report by MarketsandMarkets™.

The Data Fabric market is expected to grow at a significant rate during the forecast period, owing to various business drivers. Some factors driving the growth of the data fabric market are increasing volume and variety of business data, the emerging need for business agility and accessibility, and the rising demand for real-time streaming analytics.

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Managed Services to witness the higher CAGR during the forecast period

The data fabric services can be segmented into managed services and professional services. Services are required by organizations to bring about effective data fabric implementation strategies that can be handled by third-party companies, and organizations can concentrate on their core businesses. The human resources of the company must also have in-depth knowledge about the benefits that the new service would offer to the company. The knowledge is provided by a specific set of channelized services provided by the service providers. Managed services are an umbrella term for the services provided by a third party, such as monitoring and maintaining computers, networks, and software. These services depend on client experience and can be considered the most significant variable. Organizations need to concentrate on their core business, due to which they cannot afford to concentrate on other related services as it can be distracting and unmanageable. Hence, managed services came into existence. It helps organizations in various ways.

In-memory type segment to register for larger market size during the forecast period

Data fabric came into the picture due to the explosion of a large amount of data generated and stored in data lakes. However, business organizations use data fabric to manage and move data between two repositories. Data fabric can be provided in two ways: disk-based data fabric and in-memory data fabric. In-memory data fabric allows organizations to quickly access the data with its BigMemory feature. In-memory data grid creates an environment by using Random Access Memory (RAM), which can store a huge amount of data required by applications. The data is easily available by allowing quick access to in-memory and can be accessed by many users through numerous applications. It provides various features, including easy processing of high volume of data transactions, resilient web acceleration, micro-services in the distributed pattern, real-time analysis and event processing, and cache as a service.

SMEs to register for the larger market size during the forecast period

Organizations with over 1,000 employees are large enterprises. These organizations generate large amounts of data, which must be implemented via collaborative work teams. Using data fabric, the data generated can be stored at lower costs without compromising safety and agility. Large enterprises collect customer and market data to help improve experiences and drive business growth. Large enterprises have a huge corporate network and organize many events. Though large enterprises can store data, the ability to gain economic storage solutions and fast and reliable access to processed data can help organize corporate data and generate insights that can be done with the implementation of the data fabric. The ability to harness the data generated by these large enterprises has been made possible using data fabric.

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Asia Pacific to witness the highest CAGR during the forecast period

Asia Pacific is among the digital hubs of the world. Thus, businesses in the region have quickly identified the benefits of cloud technology as a facilitator of digital transformation. The region has great scope for growth in the data fabric market. It is focused on innovating and developing BI solutions that utilize data fabric technology in various verticals, such as telecom, transportation, and BFSI. Japan, China, and India use data fabric solutions across different industry verticals to streamline business operations. The rapid development of the data fabric market in the Asia Pacific region can be attributed to the massive data growth in all industries across the region. In a market such as Asia Pacific, the sheer volume of data and various emerging data types create innumerable complexities for businesses that still require adopting data strategies from the ground up. Organizations that have understood the importance of data have yet to instill stronger data management practices in the current state of the modern array. The presence of a large population and the developing infrastructure and technology are the major factors contributing to the growth of the data fabric market in the Asia Pacific region.

Key Players

Some major players in the Data Fabric market include IBM (US), SAP (Germany), Oracle (US), Informatica (US), Talend (US), Denodo (US), HPE (US), Dell Technologies (US), NetApp (US), Teradata (US), Splunk (US), TIBCO Software (US), Software AG (Germany), Intenda (South Africa), Radiant Logic (US), Incorta (US), Idera (US), K2View (US), Cinchy (Canada), Precisely (US), Global IDs (US), Alex Solutions (Australia), Iguazio (Israel), CluedIn (Denmark), QOMPLX (US), HEXstream (US), Starburst Data (US), Gluent (US), Stardog (US), Nexla (US), and Atlan (Singapore).

About MarketsandMarkets™

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The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

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Connected Toys Market Share Worldwide Industry Growth, Size, Statistics, Industry Key Features, Opportunities to 2030

The global Connected Toys Market size is projected to grow from USD 8.0 billion in 2022 to USD 20.7 billion by 2027, at a CAGR of 20.9% during the forecast period according to report published by MarketsandMarkets.

The goal of the tablet is to help build core skills in mathematics, reading, science, music, problem-solving, logic, and creativity as kids go through the tutorials and learn independently. The demand for connected toys is rising due to its benefits for kids, working parents, and tutors, but it comes up with some privacy concerns.

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By age group, 9-12 years segment to have highest growth rate during forecast period

Kids aged 9–12 years love to participate in fast-paced games, play musical instruments, use tablets, and listen to music. STEM toys and games that allow children to use complicated problem-solving skills to build robots are also popular. For instance, Osmo Genius Kit by Osmo helps kids to make great use of time. This award-winning toy turns the iPad into a fun, hands-on teaching machine and helps build skills in math, language and vocabulary, creative thinking, and drawing. It helps adjust the children’s skill levels and keeps them challenged and entertained. The Osmo Genius Kit contains game pieces and a base that allows them to interact with the screen as they play and learn.

By interfacing device, smartphone/tablet segment to grow at highest CAGR during forecast period

VTech, a company that produces tablets for children and develops smart connected toys for children, has faced the largest consumer data breach in which the personal information of almost approximately 5 million parents and more than 200,000 kids were hacked.

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Asia Pacific to have highest growth rate during forecast period

China, South Korea, and India are the major revenue-contributing countries for the Asia Pacific connected toys market. The ongoing digital transformation in various industries including retail, mining, defense, aviation, and transportation and logistics in this region, has dragged the attention of education industry specialists to design smart learning products for kids. Children and parents alike well receive toys that combine learning and fun. eSports games have witnessed rapid growth on the Chinese mainland in recent years, and their development has fueled the growth of the electronic and connected toy market.

Market Players

The major players in the Connected Toys market are Mattel (US), The key market players profiled in the connected toys market report include Mattel (US), Hasbro (US), LEGO (Denmark), Sony (Japan), VTech (Hong Kong), UBTECH (China), DJI (China), iRobot (US), Sphero (US), Digital Dream Labs (US), Pillar Learning (US), Wonder Workshop (US), TOSY Robotics (Vietnam), Workinman Interactive (New York), WowWee Group (Hong Kong), KEYi Technology (China), Miko (India), Makeblock (China), Smart Teddy (US), Intelino (US), Fischertechnik (Germany), Potensic (China), Mainbot (France), ROYBI (US), PlayShifu (India). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches and product enhancements, and acquisitions, to expand their footprint in the Connected Toys market.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

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MarketsandMarkets™ INC 
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Managed Detection and Response Market Share, Growth | Size Estimation By 2030

 

The growth of the Managed Detection and Response Market is driven by factors such as increasing cyber threats like business email compromise, ransomware, and crypto-jacking, the shortage of cybersecurity skills and overwhelming alert volumes, government regulations and compliance requirements, and the proliferation of IoT devices which fuel the demand for MDR to address the associated security risks.

The global Managed Detection and Response Market size is projected to grow from USD 3.3 billion in 2023 to USD 9.5 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 23.3% during the forecast period, according to report published by MarketsandMarkets. 

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Based on the deployment type, the cloud segment is to grow at the highest CAGR during the forecasted period

The MDR market is divided into on-premises and cloud deployment modes. Amongst them, the cloud deployment mode has the highest CAGR due to its scalability, cost-effectiveness, rapid deployment, remote monitoring capabilities, advanced analytics, and integration opportunities. Additionally, it allows organizations to easily adjust resources, reduce upfront investments, quickly implement services, monitor incidents remotely, leverage advanced technologies, and integrate with other security tools, driving its growth in the market. Thus, the cloud deployment mode accounts for the highest CAGR during the forecasted period.

By organization size, SMEs to hold a larger market size during the forecast period

The organization size in the MDR market is segmented into large enterprises and SMEs. Amongst them, SMEs contribute to a larger market size due to increasing cyber threats targeting them, they have limited internal resources for cybersecurity, and they are increasingly subjected to compliance regulations and standards. Also, MDR services offer a cost-effective approach for SMEs compared to building and maintaining an in-house security operations center, focusing on core competencies, and scalability to accommodate business growth. Additionally, MDR provides SMEs with access to expert security services, advanced tools, and compliance support, allowing them to enhance their cybersecurity posture effectively. Thus, the SMEs segment holds a larger market size during the forecast period.

By region, Asia Pacific is to grow at the highest CAGR during the forecast period

The Asia Pacific region accounts for growth in MDR due to factors such as stringent regulatory compliance, strong cybersecurity preparedness, collaborative initiatives by market players, increasing cyber threats, and economic and technological advancements. These factors drive the adoption of MDR services in the region to protect business and customer data and enhance overall cybersecurity. As a result, the Asia Pacific region is anticipated to grow at the highest CAGR during the forecasted period.

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Market Players

CrowdStrike (US), Rapid7 (US), Red Canary (US), Arctic Wolf (US), Kudelski Security (Switzerland), SentinelOne (US), Proficio (US), Expel (US), Secureworks (US), Alert Logic (US), Trustwave (US), Mandiant (US), Binary Defense (US), Sophos (UK), eSentire (Canada), Deepwatch (US), Netsurion (US), GoSecure (US), LMNTRIX (US), UnderDefense (US), Ackcent (Spain), Cybereason (US), Critical Start (US), Cysiv (US), and Critical Insight (US) are the key players and other players in the MDR market.

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

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MarketsandMarkets™ INC 
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Email: sales@marketsandmarkets.com 

Data Integration Market Share Analysis, Key Growth Drivers, Leading Key Players, Demand and Upcoming Trend to 2030

 

The global Data Integration Market size to grow from USD 11.6 billion in 2021 to USD 19.6 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 11.0% during the forecast period according to report published by MarketsandMarkets. Various factors such as rise in big data technologies and cloud computing technologies, increasing amount of on-cloud data and incapability of traditional data management tools are expected to drive the adoption of data integration solutions and services.

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The services segment to hold higher CAGR during the forecast period

Based on components, the data integration market is segmented into software and services. The services segment has been further divided into professional and managed services. These services play a vital role in the functioning of data integration, as well as ensure faster and smoother implementation that maximizes the value of the enterprise investments. The growing adoption of data integration is expected to boost the adoption of professional and managed services. Professional service providers have deep knowledge related to the products and enable customers to focus on the core business, while MSPs help customers improve business operations and cut expenses.

The marketing business application to hold the largest market size during the forecast period

With the advent of IoT and mobile technologies, the massive amount of data (big data in most cases) has compelled marketers to deploy tools and practices that can help them make sense of this data. Data integration supports this requirement by providing marketers a platform to consolidate the data captured from various sources into a useful format ready for analysis. Data integration enables marketers to integrate all their data collected from different marketing channels and feed it into an analysis tool that can analyze and extract relevant information for them. By using data integration tools, marketers can develop a customer-centric view and target their marketing efforts more precisely instead of dealing with different marketing channels against channel-specific metrics.

Healthcare and life sciences segment to have the largest market size during the forecast period

The data integration market by vertical has been categorized into banking, financial services, and insurance, retail and consumer goods, media and entertainment, IT and telecom, healthcare and life sciences, Government and defense, energy and utilities, and manufacturing. The healthcare and life sciences vertical is expected to have the largest market size during the forecast period. The healthcare and life sciences vertical has always been overloaded with data, chiefly from patient, clinical, claim, hospital system, financial, pharmacy, and most recently from wearable technology sources. Leveraging this data can help develop a bulletproof plan to mitigate most of the existing diseases, improve patient care, develop new medicines, and identify new diseases.

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APAC to hold higher CAGR during the forecast period

The data integration market has been segmented into five major regions: North America, Europe, APAC, Latin America, and MEA. APAC is expected to grow at a good pace during the forecast period. The region will be booming, as it is experiencing a lot of new entrepreneur setups, which would be looking forward to acquiring new customers and gaining customer trust by involving new paradigms of advanced analytics to have a competitive advantage over the established players. China, India, and Japan have displayed ample growth opportunities in the data integration market.

The major vendors in the global data integration market include IBM(US), Microsoft(US), SAP(Germany), Oracle(US), SAS Institute(US), Talend(US), Informatica(US), Precisely(US), Software AG(Germany), Salesforce(US), Qlik(US), and Tibco(US).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

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MarketsandMarkets™ INC 
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Cloud Security Market Trends, Key Players, Manufacturers Data, Price Analysis, By End User, By Region to 2030

 

The global Cloud Security Market size is expected to grow from USD 40.8 billion in 2021 to USD 77.5 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 13.7% from 2021 to 2026 according to report published by MarketsandMarkets. The major growth drivers for the market include the increasing number of security breaches and cyberattacks on cloud infrastructure, and strict regulatory compliances toward adoption of cloud services.

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By organization size, the large enterprise segment to lead the market in 2021

Large enterprises are organizations that have more than 1,000 employees. These organizations invest heavily in advanced technologies for increasing overall productivity and efficiency. Large enterprises are widely opting cloud security solutions and are expected to invest significantly in advanced cloud security solutions to provide optimum security to their enterprises’ intense competitive environment. Large enterprises have adopted cloud security solutions, as they use a large number of cloud and Internet of Things (IoT)-based applications that are highly susceptible to cyberattacks. Moreover, as they face threats from targeted attacks to disrupt their Information Technology (IT) services, these organizations adopt cloud security solutions to provide effective security.

North America is expected to hold the largest market size during the forecast period.

North America has sustainable and well-established economies, which empower it to invest significantly in Research and Development (R&D) activities, thereby contributing to the development of new technologies in the cloud security market. The presence of majority of key players in the cloud security market is expected to be the major factor driving the growth of the market in this region. Key players, such as Microsoft, Cisco, McAfee, Palo Alto Networks, FireEye, and Fortinet, along with several start-ups in the region offer cloud security solutions and services.

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Market Players

The major vendors covered in the cloud security market report include Amazon Web Services (US), Microsoft (US), Checkpoint (US), Google (US), Palo Alto Networks (US), McAfee (US), IBM (US), Zscaler (US), Cisco (US), Fortinet (US), Sophos (UK), Foreseeti (Sweden), Broadcom (US), Trend Micro (Japan), Tenable (US), Forcepoint (US), Netskope (US), Imperva (US), Proofpoint (US), Cloudflare (US), Aqua Security (Israel), Qualys (US), CipherCloud (US), Bitglass (US), SiteLock (US), Illumio (US), vArmour (US), Avanan (US), CloudPassage (US), and FireEye (US).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

Contact: 
Mr. Aashish Mehra 
MarketsandMarkets™ INC 
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Email: sales@marketsandmarkets.com 

5G Services Market 2023 | Overview, Growth, Economics, Demand and Forecast to 2030

 The global 5G Services Market size is expected to grow from USD 107.0 billion in 2022 to USD 331.1 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 25.3% during the forecast period according to report published by MarketsandMarkets. Other factors such as high number of applications being developed requiring low latency in connection have resulted in high adoption of 5G services in developing economies.

5G services will prove to be highly efficient in the healthcare sector by enabling remote patient monitoring, connected ambulance services, hd virtual consultations, video-enabled prescription management etc. Due to high availability of 5G compatible devices and high investments of governments in 5G services, the 5G ecosystem is expected to witness a faster growth rate than other connectivity transformations.

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Healthcare segment to grow at the highest CAGR during the forecast period

The lower latency 5G will enable data and video to be sent in real-time to the hospital/clinicians in emergency situations and this will have significant impact on the healthcare sector and people’s lives.

uRLLC segment is expected to grow at the highest CAGR during the forecast period

Ultra-reliable low-latency communication (URLLC) use cases such as autonomous systems and mission-critical control are going to gain traction, which increase the speed and quality of services in critical functions. The automotive industry has been an early adopter of various connectivity technologies. There has been a major impetus by car manufacturers to develop connection-ready cars, taking small steps forward within a long-term vision of autonomous vehicle control using URLLC. Service providers may decide to provide focussed offerings end-to-end as the principle B2B services provider. So for example they may supply services, including high-definition cameras to a car manufacturer that requires 5G and URLLC on a production line.

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As per region, North America to have the highest market size during the forecasted period

Asia Pacific (APAC) region to record the highest growing region in the 5G services market

The countries in APAC have high investments done by the governments in 5G services. The high population of the countries in the region have also resulted in higher number of subscribers for 5G, thereby resulting in a higher Average Revenue Per User (ARPU) for 5G service providers. Countries such as China, South Korea, Australia and Japan have high technological growth. The presence of developed technological infrastructure is also one of the key reasons for the adoption of 5G services across all industry verticals.

The network market in APAC is driven by the growing acceptance of cloud-based solutions, emerging technologies such as the IoT, and big data analytics and mobility.

Key Players:

Key and innovative vendors in 5G services market are AT&T (US), China Mobile (China), SK Telecom (South Korea), Verizon (US), BT Group (UK), Deutsche Telekom (Germany), T-Mobile (US), China Telecom (China), Orange S.A (France), Vodafone (UK), China Unicom (China), Telstra (Australia), Telefonica (Spain), KT (South Korea), Rogers (Canada), Bell Canada(Canada), Etisalat( UAE), STC (KSA), LG U+( South Korea), NTT Docomo (Japan), KDDI (Japan), Telus (Canada), Swisscom (Switzerland), DISH (US), Reliance Jio(India), Rakuten (Japan), MTN ( South Africa), Airtel (India),and Telenor Group (Norway)

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

Contact: 
Mr. Aashish Mehra 
MarketsandMarkets™ INC 
630 Dundee Road
Suite 430 
Northbrook, IL 60062 
USA: +1-888-600-6441 
Email: sales@marketsandmarkets.com 

 

Automated Machine Learning Market Share Analysis, Key Growth Drivers, Leading Key Players, Demand and Upcoming Trend to 2030

 

The global Automated Machine Learning (AutoML) Market size is estimated to grow from USD 1.0 billion in 2023 to USD 6.4 billion by 2028, at a CAGR of 44.6% during the forecast period, according to report published by MarketsandMarkets. 

AutoML, or Automated Machine Learning, is a rapidly growing field that aims to automate many of the time-consuming and complex tasks involved in building and deploying machine learning models. The AutoML market has been expanding rapidly in recent years, driven by the increasing demand for machine learning solutions across a variety of industries. AutoML tools offer a range of functionalities, such as automating feature engineering, hyperparameter tuning, model selection, and deployment. This allows data scientists, engineers, and businesses to build and deploy high-quality machine learning models much faster and with less expertise required.

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Healthcare & Lifesciences to account for higher CAGR during the forecast period

The AutoML market for healthcare is categorized into various applications, such as anomaly detection, disease diagnosis, drug discovery, chatbot and virtual assistance and others (clinical trial analysis and electronic health record (EHR) analysis). In the healthcare and life sciences industry, AutoML can help automate various tasks such as disease diagnosis, drug discovery, and patient care. AutoML can be used to analyze large volumes of medical data, such as electronic health records, medical images, and genomic data, to identify patterns and make predictions. This can help healthcare 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 drug development processes. By analyzing molecular structures, genetic data, and other factors, AutoML can help 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. The implementation of AutoML in healthcare and life sciences should be done with caution and consideration for ethical and regulatory concerns.

Services Segment to account for higher CAGR during the forecast period

The market for Automated Machine Learning is bifurcated based on offering into solution and services. The CAGR of services is estimated to be highest during the forecast period. AutoML services allow users to automate various tasks involved in building and deploying machine learning models, such as feature engineering, hyperparameter tuning, model selection, and deployment. These services are designed to make it easier for businesses and individuals to leverage the power of machine learning without requiring extensive knowledge or expertise in the field.

Asia Pacific to exhibit the highest CAGR during the forecast period

The CAGR of Asia Pacific is estimated to be highest during the forecast period. Automated machine learning is rapidly growing in Asia Pacific, which includes China, India, Japan, South Korea, ASEAN, and ANZ (Australia and New Zealand). In recent years, there has been significant growth in the adoption of both AutoML and machine learning across various industries in Asia Pacific, driven by the region’s large and diverse datasets, as well as the need for faster and more efficient decision-making. Many companies in the region are also investing in the development of AutoML platforms and tools to help accelerate the adoption of AI and machine learning. To support the adoption of AutoML and machine learning, governments and organizations in the Asia Pacific region are investing in infrastructure and programs to promote innovation, education, and collaboration.

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Market Players

Major vendors 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).

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are moulded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit MarketsandMarkets™  or follow us on Twitter, LinkedIn and Facebook.

Contact: 
Mr. Aashish Mehra 
MarketsandMarkets™ INC 
630 Dundee Road
Suite 430 
Northbrook, IL 60062 
USA: +1-888-600-6441 
Email: sales@marketsandmarkets.com