The Europe Federated Learning Market would witness market growth of 10.7% CAGR during the forecast period (2022-2028).
Federated learning technology opens up numerous prospects for data scientists and researchers to work on new research issues and enhance their models, which are trained across a wide range of datasets. Practitioners and stakeholders, who are under growing pressure to deliver value-based treatment with better outcomes, might save significant costs by using models that are more precise in their predictions. Federated learning is a method of cooperatively training machine learning models without the requirement to transmit the underlying data. Algorithms are distributed to many data centers and trained locally. Only the algorithm, not the data it was trained on, returns to the centralized location once it has been trained. The revised predictions are then delivered to each local dataset, where they are retained and reinforced.
European businesses are less likely to be completely digital on average, and this is certainly relevant in the construction industry, lowering the digital intensity score. When it comes to the adoption of digital technology, company culture is important. In the EU, digital firms are more likely than non-digital firms to report using a formal strategic business monitoring system. Every disclosure of public data would alarm the media as well as the general people. For instance, the recent Facebook data hack has sparked a slew of concerns. At the same time, nations are bolstering data security and privacy protections. For example, the European Union's General Data Protection Regulation (GDPR), which came into effect on May 25, 2018. GDPR is designed to safeguard users' personal information and data security. It compels businesses to use clear and simple language in their user agreements and simply provides the right to be forgotten to the users, which means they can have their personal data purged or removed. The GDPR has effectively outlawed any self-contained actions involving the collection, transfer, and use of personal data.
The Germany market dominated the Europe Federated Learning Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $15,842.8 Thousands by 2028. The UK market is experiencing a CAGR of 9.8% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 11.5% during (2022 - 2028).
Based on Application, the market is segmented into Drug Discovery, Risk Management, Online Visual Object Detection, Data Privacy & Security Management, Industrial Internet of Things, Augmented Reality/Virtual Reality, Shopping Experience Personalization, and Others. Based on Vertical, the market is segmented into Healthcare & Life Sciences, BFSI, IT & Telecommunication, Energy & Utilities, Manufacturing, Automotive & Transportation, Retail & Ecommerce, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Federated Learning Market will Hit $198.7 Million by 2028, at a CAGR of 11.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Intel Corporation, Google LLC, Cloudera, Inc., NVIDIA Corporation, Edge Delta, Inc., DataFleets Ltd. (LiveRamp Holdings, Inc.), Enveil, and Secure AI Labs, Inc.
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