Allied Market Research published a report, titled, “Federated Learning Solutions Market by Component (Solution and Services), Application (Drug Discovery, Data Privacy & Security Management, Risk Management, Shopping Experience Personalization, Industrial Internet of Things, Online Visual Object Detection and Others), and Industry Vertical (BFSI, Healthcare & Life Science, Retail & E-commerce, Manufacturing, Energy & Utilities and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032”.
According to the report, the federated learning solutions market was valued at $125.9 million in 2023, and is estimated to reach $301.9 million by 2032, growing at a CAGR of 10.2% from 2024 to 2032.
Prime determinants of growth
The global federated learning solutions market has grown due to several factors such as rise in remote learning trend, increase in demand for low-cost convenient learning systems, and surge in use of AI & machine learning. However, the lack of face-to-face interactions in the federated learning solutions systems acts as a restraint for the federated learning solutions market. In addition, the emergence of several trends such as micro-learning, gamification, adaptive learning, and mobile learning is expected to provide many opportunities for market growth during the forecast period.
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Segment Highlights
The solution segment held the highest market share in 2023.
By component, the solution segment held the highest market share in 2023. This is due to the high demand for quality content and the rise in the number of content solutions globally. Many well-known institutions and publishers have adopted federated learning solutions, offering digitized versions of their courses and textbooks.
The industrial internet of things segment held the highest market share in 2023.
By application, the industrial internet of things segment held the highest market share in 2023. The demand for federated learning is propelled by its natural alignment with the decentralized structure of IIoT environments.
The IT and telecommunication segment held the highest market share in 2023.
By industry vertical, the IT and telecommunication segment held the highest market share in 2023. The IT & telecommunications industry possesses vast and diverse datasets dispersed across various systems and networks. Federated learning aligns with their distributed nature, enabling collaborative model training without compromising sensitive data.
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North America held the highest market share in 2023
By region, North America held the highest market share in terms of revenue in 2023 and is expected to grow in terms of revenue throughout the forecast period. This demand is attributed to the rising need for federated learning solutions services to address the increasing adoption of digital technologies in education & training. Individuals choose online learning services to improve their knowledge and skills.
Players
• Cloudera Inc
• Intellegens Ltd.
• DataFleets Ltd
• Nvidia Corporation
• Owkin Inc.
• International Business Machines Corporation
• Edge Delta Inc.
• Enveil Inc.
• Microsoft Corporation
• Alphabet Inc.
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Recent Development
• In March 2024, SAP SE partnered with NVIDIA, to accelerate enterprise customers’ ability to harness the transformative power of data and generative AI across SAP’s portfolio of cloud solutions and applications.
• In April 2021, BC Platforms partnered with TripleBlind, to help drive the development of privacy and intellectual property rights (IPR) preserving “federated AI” for its BCRQUEST.com Global Data Partner Network.
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The report provides a detailed analysis of these key players in the global federated learning solutions market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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