Global Federated Learning Solutions Market is accounted for $83.14 million in 2020 and is expected to reach $227.36 million by 2028 growing at a CAGR of 13.4% during the forecast period. The ability to ensure better data privacy, security by training algorithms on decentralized devices and the growing need to increase learning between devices & organizations are driving the market growth.
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By geography, Europe is going to have high growth during the forecast period. The market growth is accredited to the growing acceptance of technologies and the existence of a large number of federal learning solution vendors in the region. Other factors like stringent data regulations and rising demand for data privacy are predictable to increase the market in Europe.
Some of the key players profiled in the Federated Learning Solutions Market include Cloudera, Consilient, DataFleets, Decentralized Machine Learning, Edge Delta, Enveil, Extreme Vision, Google, IBM, Intellegens, Lifebit, Microsoft, NVIDIA, Owkin and Secure AI Labs company.
Applications Covered in Federated Learning Solutions Market
• Data privacy and Security Management
• Drug Discovery
• Industrial Internet of Things (IIoT)
• Online Visual Object Detection
• Risk Management
• Shopping Experience Personalization
• Other Applications
End Users Covered:
• Banking, Financial Services, and Insurance (BFSI)
• Energy and Utilities
• Healthcare and Life Sciences
• Manufacturing
• Retail and E-Commerce
• Other End Users
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