Growth opportunities in the Federated Learning Solutions Market look promising over the next six years. This is mainly due to their potential to allow predictive features on smart devices without impacting the user experience and revealing private information.
Federated Learning Solutions Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Some of the crucial drivers supplementing the growth of the global federated learning solutions market include the capability to allow companies to take advantage of a shared Machine Learning (ML) model collectively by storing data on devices and enabling percipient features on smart devices without influencing the user experience and leaking personal information. Also, FL technology emphasizes on securing user’s data by sharing the model status. The augmenting importance of data nobility and privacy has supported FL to provide a new standard for applications leveraging data. Data silos and the focus on data privacy are essential challenges for AI, but FL could be a solution. It could establish a united model for enormous organizations while the local and insightful data is safeguarded to benefit together without worrying about data privacy. Also, FL has gained a lot of prominence in how the technology tackles the challenge of fortifying users’ privacy by decoupling data provisioned at end-user devices. Hence, all these factors are bolstering the growth of the market.
However, the inadequacy of trained personnel is hampering the market growth. There is a shortage of skilled people to develop and execute these projects involving complicated techniques, such as ML, as it is the latest concept.
Vertical Segment Drivers
Based on the Vertical, Manufacturing is expected to dominate the market during the forecast period. This is primarily due to the increasing focus on the Industrial Internet of Things (IIoT) and the expansion in competition; manufacturing companies foregrounds the analysis of data collected from several sources, including web, mobile, stores, and social media. One of the significant advantages of IIoT is the capability to fuel its effectiveness through prediction. For example, the sensors in the manufacturing plant machines have the ability to automatically pinpoint where and what the trouble is and can place a service request. Until recently, manufacturing companies used to disburse significant capital on purchasing and handling of equipment. But with the modernizations in IIoT, the industries can lease the equipment from vendors. The owners can monitor this equipment remotely through the sensors, thereby delivering upgrades, repairs, and maintenance.
Regional Drivers
Based on the regional coverage, Asia-Pacific is expected to lead the market over the forecast period. This is because of their increasing acceptance in India and China and the strong demand for improved designs and varying products. Furthermore, the mounting population with the increasing urban population is promoting the development of infrastructure across the residential & commercial sector, thereby driving the market growth.
Federated Learning Solutions Market’s leading Manufacturers:
- Consilient
- SECURE AI LABS, INC.
- Edge Delta, Inc.
- OWKIN, INC.
- Cloudera, Inc.
- ai
- Enveil
- Intellegens Limited,
- Microsoft
- NVIDIA Corporation
Federated Learning Solutions Market Segmentation:
Segmentation by Application
- Drug Discovery
- Data privacy and Security Management
- Risk Management
- Shopping Experience Personalization
- Industrial Internet of Things (IIoT)
- Online Visual Object Detection
- Other
Segmentation by Vertical
- BFSI
- Healthcare and Life Sciences
- Retail and eCommerce
- Manufacturing
- Energy and Utilities
- Other
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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