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Artificial Intelligence Platform Market - By Type (Software, Services (Professional arge, Enterprises.Services, Managed Services).) By Technology (Natural Language Processing, Machine, Learning, Others) By Deployment Model (Cloud, On-premises.) By Organization Size (Small & Medium sized Enterprises, L) -Growth, Size, Share and Competitive Analysis 2016 – 2028

Market Introduction of Artificial Intelligence Platform Market

Artificial intelligence is a broad term that describes a collection of computer-based procedures that mimic human intelligence by weighing different options, considering new information and incorporating it into existing data structures, and drawing novel conclusions from qualitative, quantitative, or probability-based estimates. Depending on their autonomy and level of automation, A.I. routines differ in how much they rely on human input or solicit it before making judgments or incorporating the information. They use a variety of technologies. Among the most important are artificial neural networks, big data analytics, and machine learning. Data is gathered from several sources and analyzed using particular queries and statistical analysis Types by big data analytics. Data collection and analysis are automated by artificial intelligence. Finding patterns in unstructured data sets is the goal of the data analysis Type known as "machine learning," which enables computers to draw inferences and take actions based on those findings.

artificial-intelligence-platform-market

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What is the Market Size of the Artificial Intelligence Platform in terms of value?

With a CAGR of 6.5%, the market for artificial intelligence platforms is anticipated to expand rapidly over the coming years. According to estimates, the market for artificial intelligence platforms will be worth approximately USD 7294.1 million in 2021 and USD 34722.54 million in 2028. In the future years, it is predicted that demand for artificial intelligence platforms will increase dramatically, offering the leading market players a USD 27428.44 million in revenue potential between 2022 and 2028.

Which is the key Type segment in the Artificial Intelligence Platform Market?

The Software segment registered the largest share of the entire Artificial Intelligence Platform in 2021. This large percentage can be attributed to sensible improvements in data storage capacity, powerful computing, and parallel processing capabilities to provide high-end services. Furthermore, this market sector was well-positioned to take the largest share of the market thanks to its capacity for data extraction, real-time insight, and decision-making support. Dynamic end-use verticals with A.I. software. Libraries for creating and implementing A.I. systems, including primitives, linear algebra, inference, sparse matrices, video analytics, and numerous hardware connection capabilities, are all included in artificial intelligence software packages. Over the projected period, artificial intelligence software adoption is anticipated to be boosted by businesses' requirement to comprehend and analyze visual content to derive valuable insights.

Businesses use A.I. services to lower total operating costs, increasing profit. Companies are using artificial intelligence as a service, or AIAAS, to gain a competitive edge over the cloud. Artificial intelligence services encompass installation, integration, upkeep, and support. Over the projection period, the segment is expected to have significant growth. Application-specific Integrated Circuits (ASIC), the Graphics Processing Unit (GPU), the CPU, and Field-programmable Gate Array chipsets are examples of hardware used in A.I. (FPGA). Due to the significant computing power needed for A.I. frameworks, GPUs and CPUs now dominate the market for A.I. hardware.

Interesting Facts about Artificial Intelligence Platform Industry

  • The top countries in the Artificial Intelligence Platform market are the U.S., Mexico, Canada, China, Germany, and France.
  • The market for artificial intelligence platforms is expanding due to increased demand for AI-based solutions, and widespread data creation across the globe is the major factor driving the market's growth.
  • However, one issue that the artificial intelligence platform industry is predicted to restrain the growth of the artificial intelligence platform market over the forecast period is a lack of qualified professionals. 
  • In terms of volume and value, the North America region dominated the Artificial Intelligence Platform market in 2021. It is anticipated that this dominance will last throughout the forecast period.
  • The Healthcare industry witnessed high growth during the forecast period due to increased boring efficiency for mining and construction operations across the globe.

Who are the Top players/companies in the Artificial Intelligence Platform market in terms of value?

The key players in the global Artificial Intelligence Platform market in terms of value are Microsoft Corporation, Samsung, International Business Machines Corporation, Intel Corporation, Amazon Web Services, Salesforce Inc., Baidu Inc, Qualcomm Inc, Wipro Ltd, and Google LLC. To improve their Artificial Intelligence Platform production and increase their chances of capturing a competitive market share on a global level, these leading companies are focusing on new product advancements as well as technological innovation. A few regional and national firms are also making significant investments to diversify their product offerings and boost sales. For instance, in January 2022, Cadbury launched a program that let small company owners use a celebrity's face and voice to produce their advertisement for free using an A.I. tool. However, it is projected that by 2030, the healthcare industry will take the lead.

Who are the Top 10 Countries in the Artificial Intelligence Platform Market?

The major countries in the global Artificial Intelligence Platform market are the U.S., Canada, Mexico, China, India, the U.K., South Korea, Germany, France, and Italy. With a significant volume share in the global market in 2021, the United States is the leading market for artificial intelligence platforms. The United States has a robust innovation ecosystem supported by strategic federal investments in cutting-edge technology, in addition to the presence of forward-thinking scientists and entrepreneurs who have gathered from around the world and world-class research institutions, which have accelerated the development of artificial intelligence in the North American region.

Which is the key Industry Vertical used in the Artificial Intelligence Platform Market?

The Healthcare category dominated the Artificial Intelligence Platform market in 2021. Due to the expanding databases of digital patient health information, rising demand for tailored therapy, and rising interest in cutting healthcare costs, artificial intelligence (A.I.) in healthcare is anticipated to experience substantial growth over the upcoming years.

Healthcare systems are increasingly adopting and integrating artificial intelligence (A.I.) and machine learning (ML) algorithms to precisely forecast diseases in their early stages based on past health records. Artificial intelligence is frequently used in the life sciences sector's R&D skills to produce valuable insights from weakly connected data. The early adopters of the technology are anticipated to benefit from it since it is projected to help them develop strategic technological capabilities to obtain a competitive edge. This is because the deployment of A.I. in the life sciences business is still in its infancy stage.

Enhanced hardware and technology capabilities for computational applications have made A.I. commercially available. Additionally, the industry has been using A.I. for improved analytical reasons due to the life sciences sector's rapid growth and availability of created data. Contemporary wearables, including smartwatches and fitness trackers, have enough computer capacity to generate and analyze enormous amounts of data at a cost-effective investment because of breakthroughs and price drops for mobile technology and sensor unit solutions.

What are the Major Driving Factors for Artificial Intelligence Platform Market?

The market for artificial intelligence platforms is expanding due to increased demand for AI-based solutions and widespread data creation. The development of the artificial intelligence platform market is also anticipated to be fueled by advancements in big data technology, a growing trend of integrating A.I. capabilities into workstreams, and better cloud storage services. Additionally, there will be numerous opportunities to expand the artificial intelligence platform market due to the increased demand for intelligent corporate operations and innovations among end users. Demand for smart virtual assistants and the shift in industry methodologies toward automation to boost organizational productivity are the driving forces behind the market expansion for artificial intelligence platforms. Additionally, the market is expanding due to increased demand for A.I. and machine learning-based solutions.

What are the Major Restraints for Artificial Intelligence Platform Market?

Lack of competent personnel is one problem, nevertheless, that the artificial intelligence platform industry is dealing with. The market for artificial intelligence platforms will also face difficulties due to the inability to defend against new attacks. However, constraints impeding the expansion of the artificial intelligence platform sector include a shortage of qualified personnel and security-related problems like data privacy and unreliability.

Which Region Dominated the World Artificial Intelligence Platform Market?

In 2021, North America dominated the global Artificial Intelligence Platform market. The United States has a robust innovation ecosystem supported by strategic federal investments in cutting-edge technology, visionary scientists and entrepreneurs from around the globe, and renowned research institutions. These factors have helped the development of artificial intelligence in the North American region.

Additionally, the U.S. Congress approved an omnibus spending measure for 2021 that included funding several military A.I. projects. The bill supports the Department of Defense's artificial intelligence initiatives aimed at increasing the accessibility and efficacy of military operations. In addition, the Joint Artificial Intelligence Center received expanded purchasing power under the 2021 National Defense Authorization Act, receiving USD 137 million in total.

The National Artificial Intelligence Advisory Committee (NAIAC), which will advise the Biden administration on moving forward with the national A.I. governance efforts, will be established in April 2022. Members of the NAIAC were announced by the National Institute on Standards (NIST) and U.S. Department of Commerce.

Roche AI Centre of Excellence (CoE) was also introduced in November 2020 by Hoffmann-La Roche Limited (Roche Canada) to address A.I. opportunities and potential issues in the Canadian healthcare system.

Segmentation of Global Artificial Intelligence Platform Market-

Global Artificial Intelligence Platform Market – By Type

  • Software
  • Services (Professional Services, Managed Services).

Global Artificial Intelligence Platform Market – By Technology

  • Natural Language Processing
  • Machine Learning
  • Others

Global Artificial Intelligence Platform Market – By Deployment Model

  • Cloud
  • On-premises.

Global Artificial Intelligence Platform Market – By Organization Size

  • Small & Medium sized Enterprises
  • Large Enterprises.

Global Artificial Intelligence Platform Market – By Application

  • Forecasts and prescriptive models
  • Chatbots
  • Speech recognition
  • Text recognition
  • Others.

Global Artificial Intelligence Platform Market – By Industry Vertical

  • Manufacturing
  • Healthcare
  • Banking
  • Financial Services and Insurance (BFSI)
  • Retail & E-commerce
  • IT & Telecom
  • Automotive
  • Education
  • Media & Entertainment
  • Transportation
  • Others.

Global Artificial Intelligence Platform Market – By Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa

Frequently asked questions about the global Artificial Intelligence Platform market

Everywhere in the world, a terrible situation has been brought on by the COVID-19 epidemic. The rapid rise in COVID-19 cases has prompted the use of artificial intelligence, which may be used to effectively track the illness and control its spread. The artificial intelligence model has also been used to forecast and assess the rise of the possible danger in nations around the world.

The largest market share in terms of Artificial Intelligence Platforms was held by North America.

Increased demand for AI-based solutions and extensive data production are the main drivers fueling the growth of the artificial intelligence platforms market, which is rising.

Software had a major share in 2021 with around 60% of the market revenue share.

The healthcare segment had a major share in the global market in 2021.

Artificial Intelligence Platform Market Scope

Report Attribute Details
Market Value in 2021 USD 34722.54 million
Market Value in 2028 USD 7294.1 million
CAGR 6.5%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
Choose License Type
Budget Buying
Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Aug 2022
Category:  Mobility and Telecommunications
Report ID:   60611
Report Format:   PDF
Pages:   180
Rating:    4.6 (75)
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