USD 31.4 billion
Artificial Intelligence (AI) Platform Market Size, Share, Growth Analysis, By Component(Tools (Natural Language Processing, Machine Learning), Services (Managed Services, Professional Services)), By Application(Forecast and Prescriptive Models, Chat Bots, Speech Recognition, Text Recognition), By Deployment Mode(Cloud, On Premise), By Organization Size(Large Enterprises, SMEs ), By End User(Manufacturing, Healthcare, Banking Financial Services and Insurance, Research and Academia), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45A2300 |
Region:
Global |
Published Date: June, 2024
Pages:
197
|Tables:
98
|Figures:
71
Artificial Intelligence (AI) Platform Market Insights
Global Artificial Intelligence Platform Market size was valued at USD 8928.7 million in 2022 and is poised to grow from USD 11,302.1 million in 2023 to USD 78,598.5 million by 2031, growing at a CAGR of 23.9% in the forecast period (2024-2031).
The global AI platform market is experiencing a dynamic shift propelled by continuous innovation and investment from leading tech firms. For instance, Google's introduction of Gemini, a versatile AI model capable of multimodal analysis, underscores the industry's commitment to pushing technological boundaries. With variants catering to different needs, Gemini represents a significant leap forward in AI capabilities, promising to drive adoption across diverse sectors including automotive, healthcare, retail, finance, and manufacturing. Moreover, McDonald’s strategic investment in AI back in 2020 highlights the growing recognition among enterprises of AI's potential to revolutionize customer experiences. This trend extends beyond individual companies, with a notable increase in demand for AI-proficient employees observed across industries. Job seekers are increasingly emphasizing AI skills on their resumes and during interviews, reflecting the evolving job market's focus on technological expertise.
Furthermore, the BlackBerry Cylance AI Platform's innovative approach, incorporating user context analysis to assess trust and behavior, exemplifies the expanding scope of AI applications beyond traditional device-centric frameworks. This multidimensional approach is particularly crucial in mitigating insider threats and safeguarding against compromised credentials, addressing pressing cybersecurity concerns in today's digital landscape. The market is characterized by rapid innovation, increased investment, and a growing emphasis on AI proficiency in both hiring and technology development. As businesses across sectors recognize the transformative potential of artificial intelligence, the market is poised for significant growth, driving advancements in enterprise applications, customer experiences, and cybersecurity solutions. The increasing availability of data from various sources, including medical informatics, cybersecurity, and marketing, provides fertile ground for AI algorithms to automate analysis and uncover insights. This automation, coupled with the continuous improvement of AI models, enhances the efficiency and effectiveness of data analysis, driving the adoption of AI platforms across diverse sectors.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hardware
Fastest Growth
Software (Cloud and On-Premise)
Growth Rate
31.41% CAGR
Global Artificial Intelligence (AI) Platform Market ($ Bn)
Country Share for North America Region (%)
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Artificial Intelligence (AI) Platform Market Segmental Analysis
The global artificial intelligence (AI) platform market is segmented based on solution, industry, technology,organization size, and region. Based on component, the market is segmented into tools (natural language processing, machine learning), services (managed services, professional services). Based on deployment mode, the market is segmented into cloud and on premise. Based on organization size the market is segmented as, large enterprises, SMEs. Based on application, the market is segmented into forecast and prescriptive models, chat bots, speech recognition, text recognition, and others. Based on end user, the market is segmented into manufacturing, healthcare, banking financial services and insurance, research and academia, transportation, retail and ecommerce, and others. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Component
The tools segment emerged as the dominant in the artificial intelligent platform market. These tools help in interpreting, understanding, and learning from data which serves as the pillar of the AI platforms. NLP tools are used in applications like chat bots, Voice Assistant and others. Furthermore, ML tools help in pre analysis of the data, in the automation process, and others. The widespread presence of NLP and ML across different industries which include healthcare, retail, and others, contributes to their dominance driving the market growth.
On the other hand, the services segment is the fastest-growing segment, 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, featuring the 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 healthcare segment holds the largest share in the global artificial intelligence platform market. The AI platforms have been used in healthcare sector indifferent segments which include diagnosis, treatment, and patient care management which has fueled the adoption of AI platforms in healthcare. They are further segregated as robot assisted surgery, dosage error reduction, clinical trial participant identifier, preliminary diagnosis hand virtual nursing assistants which is contributing to the adoption of AI platforms. As AI has the ability to analyze huge data sets and can also facilitate personalized medicine, leading to the dominance of the healthcare segment. Also, substantial investments and research are leading to the growth of this segment in the market.
On the other hand, the transportation segment is the fastest-growing industry segment in the global artificial intelligence platform market. The integration of AI technologies in transportation and logistics make efficient operations, enhances chips supply chain hand enables predictive maintenance. These help with operational excellence and cost saving, which contributes to market growth. There have been advancements in autonomous vehicles, and smart infrastructure which leads towards the growth of this segment, propelled by the ongoing advancements in digital transformation initiatives across industries. Increasing government regulations play an important role in driving the growth of the artificial intelligence platform market.
Global Artificial Intelligence (AI) Platform Market By Solution
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Artificial Intelligence (AI) Platform Market Regional Insights
North America is emerging as a dominant region in the Global artificial intelligence (AI) platform market. It accounted for 30.5% of the market share in 2023. 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. The governments are also investing and providing funding for AI research and development in this region. These initiatives are also contributing to the dominance of this region. The use of AI platforms in different fields such as in transportation and healthcare also drives growth in this region.
Asia-Pacific is witnessing the fastest growth in the global artificial intelligence (AI) platform market. China is projected to grow at a CAGR of 43% in the forecasted years. The implementation of AI applications such as natural language processing, robotics and autonomous vehicles are driving the market growth in this region. 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 (AI) Platform Market By Region
- Largest
- Fastest
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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.
Restraints
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.
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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
- Mixpanel
- Optimizely
- Webtrekk
- New Relic
- Localytics
- Cxense
- MindSEO
- Bertin IT
- EXL
- Char Software Inc. and Others
Recent Developments
- In May 2024, OM1 introduced three products, namely OM1 Orion, OM1 Lyra, and OM1 Polaris by PhenOM, an artificial intelligence digital phenotyping platform for personalized medicine and clinical research.
- In February 2024, Jio announced the launch of its artificial intelligence platform named Jio Brain. The platform is responsible for integrating ML capabilities in the telecommunications network. The platform will help in the creation of new 5G services also.
- In September 2023, EY announced the launch of EY.ai, a large language model to help clients to transform their vast business experience with AI embedded in EY technology platforms and solutions. EY investments of USD 1.4b have provided the foundation for the EY.ai platform.
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.
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. The advancement in ML is also driving the market particularly deep learning techniques, enhancement in recognizing patterns and automation of tasks across different domains. The large amount of data in the different fields such as social media fuels the demand for AI platforms that can easily process and extract data from complex or large datasets. The software segment is the largest in the market as it provides a wide range of functionalities whereas the services segment is growing quickly. North America holds the highest share, and the Asia-Pacific is the fastest growing region. The main trend is the focus on real-time analytics as people are inclined towards gaining quick data driven insights. 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 8928.7 million |
| Market size value in 2031 | USD 78,598.5 million |
| Growth Rate | 23.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| 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 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 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 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 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 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 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.
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