Press Release
Press Release
North America holds a significant market share in the market due to the presence of leading technology companies such as Google LLC, IBM Corporation (NYSE: IBM), NVIDIA Corporation, and others. According to industry reports, the revenue of technology firms in the U.S. has grown by over 5.4% annually.
Industry leaders across different industry verticals employ various technologies to modernise outdated architectures by moving to cloud resources, improving business processes, and increasing the usage of intelligent automation. The growing automation demand from the automotive sector due to the rising popularity of self-driving cars further creates opportunities for the federated learning market expansion. The ML algorithm makes automated vehicles reliable and secure by analysing personal data.
Europe is another significant region adopting such technologies due to the robust expansion of the healthcare sector. There is an escalating demand for federated learning in drug discovery, which further contributes to the market growth.
In July 2023, Robert Bosch GmbH partnered with the Austrian Institute of Technology (AIT) to strengthen their research partnership in the field of federated learning over the next three years. The long-standing cooperation between Bosch Research and AIT in the area of control engineering serves as the foundation for the partnership with the AIT Centre for Vision, Automation, and Control. Algorithms that learn locally and adaptively have been the main focus.
The company has planned to link devices and components that can share knowledge by utilising federated learning. The objective of this research partnership is to apply the notion of federated learning, which was formulated in several IT domains, intricate, dynamic, non-linear systems, incorporate it into specific applications, and capitalise on the benefits of federated learning for Bosch.
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Table: Growth of Manufacturing Sector (% of World GDP), 2018-22
The major players in the global federated learning market are Google LLC, Intel Corporation, Barron Associates Inc., Sherpa.ai., Apheris AI GmbH, IBM Corporation, Cloudera, Inc., NVIDIA Corporation, Acuratio Inc., and Consilient Inc., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Deployment Type |
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Breakup by Application |
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Breakup by End Use |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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