According to the report by Expert Market Research (EMR), “The Global Federated Learning Market Size, Share, Analysis, Report and Forecast 2024-2032″,the global federated learning market reached a value of USD 118.70 million in 2023. Aided by increasing brand awareness and rapid development of shoe stores, the market is projected to further grow at a CAGR of 10.7% between 2024 and 2032 to reach a value of USD 218.44 million by 2032.
Federated learning is an innovative approach to machine learning where an algorithm is trained across multiple decentralised edge devices or servers holding local data samples, without exchanging them. This collaborative form of learning significantly aids data privacy, system efficiency, and model personalisation. It finds wide application in various fields, such as healthcare, banking, communication, and retail, among others.
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The escalating demand for secure, efficient, and personalised machine learning models is propelling the global federated learning market growth. With the surging importance of data privacy and the stringent regulations protecting it, there has been a noteworthy shift towards federated learning models that can provide insights while keeping raw data on the local device. Furthermore, the burgeoning trend of edge computing and the Internet of Things (IoT) has amplified the necessity for efficient data processing models, thereby boosting the popularity of federated learning.
Federated learning’s broadening applications across various sectors significantly contribute to the growing federated learning market demand. In the healthcare sector, for instance, federated learning is employed to create robust predictive models across numerous institutions while preserving data privacy. In the banking sector, it helps to detect fraudulent transactions without compromising the customer’s data security. Retailers utilise federated learning for personalised recommendation systems, improving customer experience while respecting their privacy.
Moreover, the expanding demand for artificial intelligence (AI) and machine learning in various industries has led to increased attention towards federated learning as a feasible and efficient solution. Given the advent of Industry 4.0 and the resultant data surge, federated learning has emerged as a critical component in optimising business operations, maintaining data privacy, and facilitating decision-making, thereby stimulating the market for federated learning.
The global federated learning market is poised for considerable growth, spurred by the increasing demand for personalised and efficient machine learning models, the expanding applications of federated learning, and the rise in AI and machine learning adoption.
The market can be divided based on deployment type, application, end use, and region.
Market Breakup by Deployment Type
- Cloud Based
Market Breakup by Application
- Industrial Internet of Things
- Visual Object Detection
- Drug Discovery
- Risk Management
- Augmented and Virtual Reality
- Data Privacy Management
Market Breakup by End Use
- Retail and E-commerce
- IT and Telecommunication
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global federated learning companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Google LLC
- Intel Corporation
- Barron Associates Inc.
- Apheris AI GmbH
- IBM Corporation
- Cloudera, Inc.
- NVIDIA Corporation
- Acuratio Inc.
- Consilient Inc.
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