Northbrook, IL 60062 -- (SBWire) -- 10/26/2023 --The global Federated Learning Market size to grow from USD 127 million in 2023 to USD 210 million by 2028, at a Compound Annual Growth Rate (CAGR) of 10.6% during the forecast period, according to research report by MarketsandMarkets™.
Federated learning has started to witness implementations across several verticals with data privacy concerns. The increasing number of websites and mobile applications, the growing high-end customer services, and the rising use of social media platforms, along with the need to acquire customers and to enhance customer services and loyalty, would drive the growth of federated learning market.
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Federated learning allows ML algorithms to gain experience from a broad range of data sets located at different locations. The federated learning approach enables multiple organizations to collaborate for the development of models without the need to directly share secure data with each other. The educated patterns are integrated and transferred to a centralized computer. The data is not shared, and this is how federated learning helps ensure privacy and minimizes communication costs. Federated learning is a new technology approach, which is in the pre-commercial stage, and companies are resisting to discuss their views, experiences, and expectations. Verticals are focusing on data security, hyper-personalization, and contextual recommendation, which will be a key in driving app adoption or eCommerce purchases; federated learning is expected to play a key role here.
Some of the key players operating in the federated learning market include NVIDIA (US), Cloudera (US), IBM (US), Microsoft (US), Google (US), Intel(US), Owkin(US), Intellegens(UK), Edge Delta(US), Enveil(US), Lifebit(UK), DataFleets(US), Secure AI Labs(US), and Sherpa.AI(Spain). These federated learning vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global federated learning market.
NVIDIA is specialized in designing Graphics Processing Units (GPUs) for the gaming and professional markets, as well as systems on chip (SOC) units for the mobile computing and automotive market. NVIDIA is one of the leading computing platform company, which is involved in innovating at the intersection of graphics, HPC, and AI. The company is well versed in the manufacturing of graphics-processor technologies for workstations, desktop computers, and mobile devices. The company supplies integrated circuits used for personal-computer GPUs, motherboard chipsets, and game-consoles. NVIDIA is one of the leading player in the federated learning market and it has been involved in developing federated learning modles to train a neural network for brain tumor segmentation. The technique allows data-sharing between hospitals and researchers while preserving patient's data. The company also has a platform strategy that brings together hardware, software, algorithms, libraries, systems, and services to create unique value for the markets. The company has invested more than USD 24 billion in Research and Development (R&D).
Google, is subsidiary of Alphabet. The company was founded in 1998 and it is headquartered in California, US. The company is specialized in offering platforms such as Android, Chrome, Gmail, Google Drive, Google Maps, Google Play, Search, and YouTube, and each of them has over one billion active users every month.. Google introduced the concept of federated residual learning for models trained from user interaction with mobile devices and to build the most secure and robust cloud infrastructures for processing data. Googles Android 11 uses federated learning to generate smart replies and suggest emojis. Google has built a platform in the cloud and invests in infrastructure, security, data management, analytics, and AI. The company offers its services to clients from verticals, such as automotive, BFSI, retail and eCommerce, education, energy, engineering, entertainment, environment, food and beverage, government, healthcare, manufacturing, media, telecommunications and IT, transportation, and travel and hospitality. As more digital experiences are being built in the cloud, the company's cloud products are focusing on helping enterprises of all sizes to take advantage of the latest technologies and efficiently run their businesses. Google invests in platforms, such as Android mobile OS, Chrome browser, Chrome OS, and Daydream Virtual Reality (VR). It operates through 70 offices in more than 50 countries worldwide.
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Microsoft is specialized in offering software, services, and solutions to compete in the area of an intelligent cloud and edge. With the increasing investments in the mix-reality cloud, Microsoft enables its customers to digitalize their business processes. The company's offers cloud-based solutions that provide customers with software, platforms, and content. Its product offerings include OS, business solution applications, cross-device productivity applications, software development tools, server applications, desktop and server management tools, and video games. Microsoft's platforms and tools help to drive the productivity of small and medium businesses, competitiveness of large businesses, and efficiency of the public sector. The company works on three pillars, which include privacy, cybersecurity, and responsible AI, to provide tools and frameworks for its customers to encourage policy change. Microsoft operates in three segments that include productivity and business processes, intelligent cloud, and more personal computing. The company caters to a wide range of verticals, including finance and insurance, manufacturing and retail, energy and utilities, media and entertainment, public sector, healthcare, and IT and telecommunications. It has a presence in more than 190 countries across North America, APAC, Latin America, MEA, and Europe. The Microsoft Research team in March 2020 introduced the concept of federated residual learning. Moreover, in October 2020, Microsoft also introduced a federated approach in training acoustic models.
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Federated Learning Market Latest Trends, Scope, Share, and Growth Factors : A Global Forecast to 2028
This research report categorizes the Federated Learning Market based on application, vertical, and region.