The global AI platform market is poised for a seismic transformation, anticipated to be valued at an impressive US$ 10 billion in 2022. This staggering valuation is projected to experience an astronomical Compound Annual Growth Rate (CAGR) of 38.2% throughout the forecast period from 2022 to 2032, culminating in a remarkable valuation of US$ 254.14 billion.
The groundwork for this extraordinary trajectory was laid in 2021, when the market stood at US$ 9.6 billion. This foundation is set to foster a Year-on-Year (Y-o-Y) expansion of 4.2% from 2021 to 2022, further fortifying the impending surge.
At the crux of this phenomenon is the pivotal role of decision-making for service providers and manufacturers, igniting a surge in the AI platform market. A transformative wave has swept through the domain as industry players delve into the creation of AI platforms, strategically targeting niche solutions to address specific enterprise challenges. This focused approach has impeccably propelled the market’s remarkable growth journey, defining a new era of possibilities.
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Key Growth Drivers in AI Platform Market:
The AI platform market is propelled by a confluence of compelling factors that set the stage for its soaring growth. A pivotal driving force is the burgeoning demand for AI-based solutions and products, acting as a magnetic pull for market expansion. This appetite for AI-driven innovations reshapes industries, driving the market to unprecedented heights.
A rich reservoir of data emerges as another formidable driving force within the AI platform arena. The market thrives on a wealth of data nurtured through sophisticated hardware and diverse sources. This data-driven landscape empowers AI platforms to operate at the zenith of efficiency, yielding optimal outcomes. The seamless synergy between data abundance and AI prowess transforms the market’s potential into palpable results.
The accelerating global technological landscape plays a starring role in this narrative. Continuous technological advancements spawn waves of innovation in AI technology. These innovations, rippling across the globe, forge a fertile ground for the AI platform market’s robust growth trajectory. This evolutionary tide not only elevates the market but ushers in new dimensions of possibility.
An additional propellant is the inherent ease that AI platforms bring to work processes. These platforms are poised to revolutionize how tasks are executed, ushering in an era of intelligent business processes. As the market continues to amplify efficiency and intelligence, the overarching effect is a transformative wave that amplifies its momentum.
Major Companies Profiled:
- Microsoft Corporation
- Amazon Web Services
- Infosys
- Wipro
- Premonition
- Rainbird Technologies
- Ayasdi Inc.
- Mindmeld (Cisco Systems)
- Vital AI
- Kasisto
- Receptiviti
- Locl Interactive Inc.
- HPE
- Qualcomm Technologies
- Absolutdata
- Salesforce
- IBM Corporation
- Intel
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Key Takeaways:
- North American Dominance: North America to command 69% of AI platforms revenue, underscoring its pivotal role in the market’s revenue landscape.
- Automated Decision Surge: Rising demand for automated, machine-driven decisions to fuel growth in North American AI platform market.
- European AI Advancements: European Union countries witnessing burgeoning AI industry growth, especially in sectors like social media and marketing.
- Cloud Deployment Triumph: Cloud deployment mode poised for supremacy with largest market share and fastest CAGR, offering versatile solutions to the AI platform market.
Key Segments:
AI Platform Market by Component:
- AI Tools
- AI Machine Learning Platforms
- AI Natural Language Processing Platforms
- AI Services
- Managed Services
- Professional Services
AI Platform Market by Deployment Mode:
- Cloud-based AI Platforms
- On-premise AI Platforms
AI Platform Market by Application:
- AI Platforms for Forecasts and Prescriptive Models
- AI Platforms for Chatbots
- AI Platforms for Speech Recognition
- AI Platforms for Text Recognition
- AI Platforms for Other Applications
AI Platform Market by End User:
- AI Platforms for Manufacturing
- AI Platforms for Healthcare
- AI Platforms for BFSI
- AI Platforms for Education
- AI Platforms for Transportation
- AI Platforms for Retail and e-Commerce
- AI Platforms for Robotics
- AI Platforms for Other End Users
AI Platform Market by Region:
- North America AI Platform Market
- Latin America AI Platform Market
- Europe AI Platform Market
- CIS & Russia AI Platform Market
- Japan AI Platform Market
- APEJ AI Platform Market
- Middle East & Africa AI Platform Market
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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