USD 31.4 Billion
Global Artificial Intelligence (AI) Platform Market Size, Share, Growth Analysis, By Solution(Hardware, Software), By Deployment Mode(Cloud, On-premises), By End User(Manufacturing, Healthcare) - Industry Forecast 2024-2031
Report ID:
SQMIG45A2300 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|
Tables:
92 |
Figures:
71
Global Artificial Intelligence (AI) Platform Market Insights
Global Artificial Intelligence (AI) Platform Market size was valued at USD 31.4 Billion in 2022 and is poised to grow from USD 41.26 Billion in 2023 to USD 366.93 Billion by 2031, growing at a CAGR of 31.41% in the forecast period (2024-2031).
The global artificial intelligence platform market has witnessed phenomenal growth in recent years, driven by the need for comprehensive research and insights across a huge range of industries. The global artificial intelligence platform market (DIP) is a fully responsive solution that blends text analytics, artificial intelligence, & machine learning capabilities to deliver accurate insights into virtual interactions & user operations. The primary objective of this market is to enable teams to make informed choices, improve patron experience, and facilitate gold-standard execution of virtual strategies Several key drivers of market growth are increasing the volume of virtual records generation. To get the right perspective from this huge amount of information that could lead to participation in protests, companies have gone the DIP route. These platforms allow real-time audits of records and enable companies to quickly gain insight into market trends and customer expectations.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Analytics
Fastest Growth
Engagement Optimization
Growth Rate
31.41% CAGR
Global Artificial Intelligence Platform Market ($ Bn)
Country Share for North America Region (%)
Global Artificial Intelligence Platform Market By Component ($ Bn)
Global Artificial Intelligence Platform Market By Component (%)
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Global Artificial Intelligence (AI) Platform Market Segmental Analysis
The global artificial intelligence (AI) platform market is segmented based on solution, deployment mode, end user and region. By Solution, the market is bifurcated into hardware, software, and services. By deployment mode, the market is segmented into cloud and on-premises. Based on end user, the market is segmented into manufacturing, healthcare, BFSI, research & academia, transportation, retail & eCommerce and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Solution
In 2022, software solutions emerged as the dominant in the market, representing over 36.7% of global revenue. This substantial share can be attributed to significant advancements in information storage capacity, robust computing power, and parallel processing capabilities, enabling the delivery of sophisticated services. Moreover, the capability to extract data, offer real-time insights, and facilitate decision-making has solidified the position of software solutions as a key player in the market. Artificial intelligence software (AIS) encompasses a wide range of tools, including libraries tailored for designing and deploying AI applications. These tools cover a spectrum of functionalities such as primitives, linear algebra, inference, sparse matrices, video analytics, and support for multiple hardware communication protocols. The growing necessity for enterprises to comprehend and analyze visual content to derive actionable insights is anticipated to drive the adoption of artificial intelligence software solutions even further in the coming years.
The services segment currently commands the growing market share and is projected to experience a robust CAGR of 49.2% over the forecast period. Within artificial intelligence, services encompass activities such as installation, integration, maintenance, and support projects. For instance, International Business Machines (IBM) Corporation introduced IBM Watson AIOps in May 2020, featuring newly integrated AI-powered services and capabilities aimed at enhancing enterprise automation and optimizing the cost-effectiveness and resilience of IT infrastructures. This expansion of AI-powered services is poised to fuel the growth of the AI services market, particularly driven by the increasing utilization of AI in customer service support initiatives.
Analysis by End-User
The rise of Global Artificial Intelligence (AI) Platform Market is increasingly prominent, particularly within the Banking, Financial Services, and Insurance (BFSI) sector, where applications like fraud detection, risk management, and automated customer service are reshaping operations. Given the BFSI industry's reliance on data-driven decision-making and the need for advanced analytics to navigate intricate financial processes, end customers in this sector are driving the demand for AI platforms. By empowering BFSI institutions to enhance client experiences, mitigate risks, and optimize operational efficiency, AI technologies are reinforcing their leadership position within the industry.
Furthermore, other sectors such as manufacturing, healthcare, research & academia, transportation, and retail & eCommerce are poised for significant growth in the global AI platform market. These industries are increasingly leveraging AI-driven solutions to address various challenges. In manufacturing, AI is enhancing automation and predictive maintenance, streamlining production processes. Healthcare benefits from AI-enabled patient care, personalized therapy, and diagnostics. Research and academia utilize artificial intelligence for knowledge discovery and data analysis. AI-powered transportation systems improve safety and logistics, while in retail and eCommerce, AI optimizes supply chains, facilitates personalized marketing, and enhances customer support. The rapid expansion of these industries in the AI platform market is driven by their unique needs and the transformative potential of AI technology.
Global Artificial Intelligence Platform Market By Component(%), 2022 (%)
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Global Artificial Intelligence (AI) Platform Market Regional Insights
North America is emerging as a dominant region in the Global artificial intelligence (AI) platform market. North America leads the artificial intelligence (AI) platform market due to the presence of key market players, sound technology infrastructure and wide adoption of digital solutions. Furthermore, focuses on digital transformation in various sectors such as finance, healthcare and retail in this region supports the importance of digital intelligence platform.
Asia-Pacific is witnessing the fastest growth in the global artificial intelligence (AI) platform market. The region has a rapidly growing population, high internet penetration and a thriving digital environment. Governments and businesses in Asia Pacific are developing digital initiatives, supporting the use of digital intelligence platforms to gain useful insights into consumer behaviour, improve decision-making processes and improve efficiencies This region uses technology active in Asia Pacific. The fact that it recognizes growth combined with the increasing expansion of the digital landscape makes it the fastest growing market for digital intelligence strategies.
Global Artificial Intelligence Platform Market By Geography, 2024-2031
- Largest
- Fastest
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Global Artificial Intelligence (AI) Platform Market Dynamics
Drivers
Growing Emphasis on Data-Driven Decision-Making
- One of the primary elements that force the worldwide virtual intelligence platform marketplace is the rise in attention approximately statistics-pushed choice-making throughout various industries. Organizations realize the significance of using data to advantage information approximately purchaser behavior, cutting-edge market tendencies, and operational efficiencies. The creation of virtual intelligence systems becomes vital in supporting within the collection, processing, and interpretation of huge volumes of records that aid knowledgeable choice-making methods.
Rapid Advancements in Artificial Intelligence and Machine Learning
- The continued innovations in AI and ML technologies are building up digital intelligence platforms. These systems use AI and ML algorithms to look at statistical styles, foretell developments, and guide closer to actionable insights. Given the evolving AI and ML abilities, corporations are an increasing number of turning to digital intelligence solutions as they are looking for to advantage a competitive benefit over others in an ever-converting virtual environment.
Data Privacy and Security Issues
- One of the major concerns that seems to be restraining the global artificial intelligence platform market is data security and privacy. The highly sensitive data stored and analyzed by organizations is highly vulnerable to data breaches and unauthorized access. The introduction of digital intelligence platforms will challenge the requirements of deeper data protection regulations and of strict security measures, especially in areas characterized by stringent data privacy laws.
Challenges of Integration with Existing Infrastructure
- Many organizations struggle to seamlessly integrate their existing IT infrastructure with digital intelligence strategies. The implementation and effectiveness of digital intelligence solutions can be constrained by Legacy systems, data sources, and complex IT environments Integration communication issues can be powerful gatekeepers for the popularity of such platforms in general terms.
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Global Artificial Intelligence (AI) Platform Market Competitive Landscape
The global artificial intelligence (AI) platform market is highly competitive and is trying to establish its niche in the industry. Well-known companies such as Adobe Inc., Google LLC, IBM Corporation, SAS Institute Inc. and comScore dominate the market. These players are key industry players who claim their strength lies in their vast technological capabilities, innovative solution offerings, and vast global networks that help deliver critical digital intelligence strategies covering multiple industry levels new and smaller competitors trying to diversify also add to the competitive landscape, offering niche solutions that reframe traditional values.
Top Player’s Company Profiles
- Adobe Systems
- IBM
- SAS Institute
- Evergage
- Mixpanel
- Optimizely
- Webtrekk
- New Relic
- Localytics
- Cxense
- MindSEO
- Bertin IT
- EXL
- Char Software Inc. and Others
Recent Developments
- In November 2023, Adobe made a major move into generative AI by acquiring Rephrase.ai, a Bangalore-based startup specializing in AI-powered video production This deal contains several levels of significance, touching the creative landscape and the Indian startup ecosystem.
- In February 2022, IBM launches a new suite that combines business intelligence, planning, budgeting and forecasting capabilities in one place and features a portal where customers can test research assets built with technology from third-party suppliers the view.
- In October 2023, Nvidia Corporation and Oracle signed a partnership agreement to help customers solve business challenges through agile computing and AI. The partnership aims to help accelerate consumer adoption of artificial intelligence.
Global Artificial Intelligence (AI) Platform Key Market Trends
- Focus on Real-time Analytics: The market trend towards real-time analytics is gaining popularity as companies seek instant, statistics-driven decision-making. There is a growing call for digital intelligence systems that provide real-time analytics capabilities, enabling businesses to react more quickly to changing market conditions, consumer choice and evolving trends.
- Integrating Predictive Analytics: Predictive analytics is becoming a mainstay in the digital intelligence platform market, enabling teams to anticipate future trends and make proactive choices. Integrating predictive analytics capabilities into digital intelligence systems enables teams to anticipate market fluctuations, optimize operations, and strategize strategically for long-term success.
Global Artificial Intelligence (AI) Platform Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
The global artificial intelligence (AI) platform market is driven by advances in additive manufacturing technology, increasing demand for lightweight and robust aerospace materials, and rapid adoption in the MRO industry but rising material costs, regulations challenges and certification requirements hinder the growth of the market. However, key manufacturers such as GE Additive, Stratasys, EOS GmbH and others are actively innovating and expanding their product lines to take advantage of the growing demand for aerospace-grade 3D printing materials.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 31.4 Billion |
| Market size value in 2031 | USD 366.93 Billion |
| Growth Rate | 31.41% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Artificial Intelligence (AI) Platform Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Artificial Intelligence (AI) Platform Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Artificial Intelligence (AI) Platform Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Artificial Intelligence (AI) Platform Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Artificial Intelligence (AI) Platform Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Artificial Intelligence (AI) Platform Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Artificial Intelligence (AI) Platform Market Report Snapshots
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