Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Federated Learning Market size is expected to reach $198.7 million by 2028, rising at a market growth of 11.1% CAGR during the forecast period.
The Drug Discovery segment acquired maximum revenue share in the Global Federated Learning Market by Application in 2021, thereby, achieving a market value of $43,969 Thousands by 2028. The increasing growth of this segment is owing to the rising utilization of federated learning approach for drug discovery due to its precision and efficiency. The growth of this segment is also estimated to increase due to a rapid adoption of several new and latest technologies across the healthcare sector.
The BFSI segment is showcasing a CAGR of 11.5% during (2022 - 2028). The propelling growth of this segment is owing to the fact that since its inception, the insurance business has played an important role. It has also grown in popularity, assisting in a variety of catastrophes as a result of technological advancements. Insurance is a financial investment made to assist an insured in the event of an unforeseen occurrence. However, the insurance company's ability to assist the insured is constrained. Fraudulent activity is common. When an insured betrays the trust of the insurance company by filing false claims, Fraud and illegal action can be held accountable to an individual or a company. With the utilization of the data gathering abilities of federated learning, companies can prevent fraud while making better decisions. This factor is driving the demand for federated learning solutions in this vertical.
Europe is the fastest growing region dominated the Global Federated Learning Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $69,740.9 Thousands by 2028. The North America market is estimated to witness at a CAGR of 10.5% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 11.7% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Cisco Systems, Inc., Intel Corporation, Oracle Corporation, Microsoft Corporation, Dell Technologies, Inc., Hewlett-Packard Enterprise Company, Equinix, Inc., Greenwave Systems, Inc., and Iguazio Ltd.
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