The global Artificial Intelligence Platform market worth $17.3 billion by 2027, growing at a CAGR of 16.9%
The demand for artificial intelligence platforms is rising rapidly for the past few years. Most of the businesses nowadays are predominantly driven by increased competition, consumerization, faster production, and data explosion. The scalability and complexity of disparate data pose a challenge for traditional database and analytics technologies. Thus, real-time managing & processing of data and the need for hassle-free development are boosting the demand for AI platforms across the industries. Disruptive technologies such as MLOps and AutoML are promoting new platform scenarios, which enable companies to transform their end-to-end technology transformation and business life cycle.
The aim of the report is to estimate the size of the market for artificial intelligence platforms and the future growth potential of the market for artificial intelligence platforms across various segments, such as component, application, and industry verticals.
The growing demand for virtual assistants and chatbots among businesses is driving the demand for the artificial intelligence platform market across North America. In addition, the growing number of smart infrastructures is also resulting in the accelerated adoption of artificial intelligence platforms among the industries in this region.
The base year considered for the analysis is 2019 and from 2020 to 2028 the market size is estimated. Factors such as the increasing need for low code or no-code tools and the rising demand for more accurate and calculated data solutions are the key drivers of the artificial intelligence platform market in the coming years. However, high initial investment costs and slow adoption among developing regions are hampering the market growth. Additionally, the rising data privacy concerns and lack of a skilled workforce are posing challenges for the artificial intelligence platform industry. Furthermore, increasing AI-based developments and their applications across various industry verticals is anticipated to be opportunistic for the market in the forthcoming years.
Artificial Intelligence Platform Market Scope
| Metrics | Details |
| Base Year | 2020 |
| Historic Data | 2018-2019 |
| Forecast Period | 2021-2027 |
| Study Period | 2018-2027 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2027 | $17.3 billion |
| Growth Rate | CAGR of 16.9% during 2021-2027 |
| Segment Covered | By Type, By Technology, By Deployment Model, By Organization, By Application, By Industry Vertical, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Microsoft Corporation, Salesforce Inc., Samsung, International Business Machines Corporation, Intel Corporation, Amazon Web Services, Qualcomm Inc., Baidu Inc., Wipro Ltd., Google LLC |
Key Segments of the Global Artificial Intelligence Platform Market
Component Overview, 2018-2028 (USD Million)
- Tools
- Machine Learning (ML)
- Natural Language Processing (NLP)
- Services
Business Function Method, 2018-2028 (USD Million)
- Chatbots
- Forecasts and Prescriptive Models
- Text Recognition
- Speech Recognition
- Others
Vertical 2018-2028 (USD Million)
- BFSI
- Research and Education
- Transportation
- Retail and eCommerce
- Manufacturing
- Healthcare
- Others
Regional Overview, 2018-2028 (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Important Companies in the Global Artificial Intelligence Platform market
- Absolutdata
- Amazon Web Services
- Apple
- HPE
- IBM
- Intel
- Microsoft
- Qualcomm
- Salesforce
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of artificial intelligence platform market benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on artificial intelligence platform market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the artificial intelligence platforms industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented based on component, application, and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global artificial intelligence platform market. The report will benefit: Every stakeholder involved in the artificial intelligence platform market.
- Managers within the field service management industry looking to publish recent and forecasted statistics about artificial intelligence platform market.
- Research and Education organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of global artificial intelligence platform market.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The application of the artificial intelligence platform market Chatbots, Forecasts and Prescriptive Models, Text Recognition, Speech Recognition, and Others.
The major contenders in the global market are Absolutdata, Amazon Web Services, Apple, Google, HPE, IBM, Intel, Microsoft, Qualcomm, and Salesforce.
The base year for the report is 2021 in artificial intelligence platform market.