What are the Historical Developments and Current Growth Metrics of the AI Toolkit Market?
The ai toolkit market has seen considerable growth due to a variety of factors.
• The market size of the AI toolkit has seen phenomenal growth recently. It's projected to expand from $29.16 billion in 2024 to $38.85 billion in 2025, touting a compound annual growth rate (CAGR) of 33.2%.
The surge in growth during the historic period is attributable to the escalating adoption of AI, augmented threat landscape, the massive eruption of big data, growing request for machine learning algorithms, and the rise of computational power.
What Does Future Hold for The AI Toolkit Market?
The ai toolkit market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for a significant upturn in the AI toolkit market size over the coming few years. A predicted rise to $121.33 billion in 2029 at a compound annual growth rate (CAGR) of 32.9% signals this growth. Various causative factors for this ascend during the forecast period include the emergence of open source initiatives, the growth of cloud computing, rising awareness and education, the emergence of AI startups, and a surge in AI uses in healthcare. Notable trends for the forecast period range from the integration of explainable AI and advancements in natural language processing (NPL) tools to the blending of hybrid cloud AI solutions, a call for AI ethics and responsible AI, and a growing inclination towards AutoML.
What Factors Are Driving Growth In The AI Toolkit Market?
The escalation in cyber security threats is projected to boost the expansion of the AI toolkit market. These threats encompass harmful acts, actions or possible events that have the potential to disrupt the confidentiality, integrity, or accessibility of computer systems, networks, and data. The surge in cyber security threats necessitates advanced security measures and AI toolkits are key in offering the technology and instruments required to build innovative and efficient cyber security solutions. For example, in April 2023, the Government Digital Service, a UK-based government agency, reported that cybercrime impacted 11% of businesses and 8% of charities overall in the previous 12 months, this figure rose to 26% of medium-scale businesses, 37% of large-scale businesses, and 25% of high-income charities. Hence, the escalating number of cyber security threats is fuelling the growth of the AI toolkit market.
What Is The Segmentation Of The Global AI Toolkit Market?
The AI toolkit market covered in this report is segmented –
1) By Offering: Software, Hardware, Services
2) By Technology: Natural Language Processing, Machine Learning, Computer Vision, Robotic Process Automation
3) By Vertical: Banking, Financial Services and Insurance (BFSI), Retail and eCommerce, Healthcare and Life Science, Manufacturing, Telecom, Information Technology, Media and Entertainment, Energy and Utilities, Other Verticals
Subsegments:
1) By Software: Machine Learning Frameworks, Natural Language Processing (NLP) Tools, Computer Vision Tools, Data Analytics Software
2) By Hardware: AI Processors, AI-Optimized Hardware Platforms, Edge Computing Devices
3) By Services: AI Integration Services, Consulting Services, Support And Maintenance Services
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What Emerging Trends Are Shaping The AI Toolkit Market Landscape?
Key players in the AI toolkit market are gravitating towards generative AI toolkit to enhance their market revenue. The generative AI toolkit is a suite of software tools and resources programmed to utilize the potential of generative artificial intelligence for diverse applications, particularly in the accounting and financial spheres. For instance, in October 2023, CPA.com, a firm based in the US and focused on the accounting profession, introduced a Generative AI Toolkit aimed at the accounting field. The toolkit includes educational insights, a toolkit that can be downloaded, use-case tutorials, a security checklist, a GenAI glossary, and chances for learning. The aim is to offer a comprehensive 7-step strategy for developing personalized AI strategies while also promoting awareness and education through thought leadership resources. This toolkit plays a crucial part in CPA.com's diverse initiative to empower professionals in the accounting and finance fields to successfully manage the impact of technology on their business structures.
Who Are the Key Players In The AI Toolkit Market?
Major companies operating in the AI toolkit market report are:
• Google LLC
• Meta Platforms
• AWS
• Intel Corporation
• IBM
• Oracle
• HPE
• NVIDIA Corporation
• Sales Force
• Thales group
• Adobe
• DataRobot
• OpenAI
• Altair
• Alteryx
• Jasper
• KNIME
• Rasa
• Union AI
• Regie.AI
• Super Annotate
• Fiddler AI
• Obviously AI
• Determined AI
• H2O.ai
• Attri AI
What Are The Regional Insights Into The AI Toolkit Market?
North America was the largest region in the AI toolkit market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ai toolkit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
