What are the Historical Developments and Current Growth Metrics of the Artificial Intelligence Software Platform Market?
The artificial intelligence software platform market has seen considerable growth due to a variety of factors.
• There has been an explosive growth in the market size of the artificial intelligence software platform in recent years. This is projected to expand from $59.1 billion in 2024 to $79.91 billion in 2025, with a compound annual growth rate (CAGR) of 35.2%.
Factors contributing to the growth during the historical period include a surge in demand for industrial automation, the expansion of big data and requirements for data processing solutions, widespread use of cloud computing and storage, as well as an increase in the application of AI in sectors such as healthcare, finance, and retail.
What is the Forecasted Market Size and CAGR for the Artificial Intelligence Software Platform Market?
The artificial intelligence software platform market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for the artificial intelligence software platform is projected to experience dramatic expansion in the upcoming years, swelling to a valuation of $264.51 billion by 2029, fueled by a compound annual growth rate (CAGR) of 34.9%.
This projected growth during the forecast period is credited to several factors such as, enhanced adoption of AI in self-driven vehicles and intelligent transportation systems, growing applications of AI in cybersecurity to identify and halt threats, escalating focus on creating personal customer experiences with the aid of AI-based solutions, and an increased demand for AI tools in remote work and digital collaboration. The key trends during this forecasted timeline comprise progress in Natural Language Processing (NLP), incorporation of AI features into edge devices and edge computing systems, the merging of AI with other emergent technologies like blockchain, quantum computing, and the spread of 5G, the expansion of AI marketplaces and platforms, and a shift towards AI-induced automation and improvement.
What Key Factors and Trends Are Driving The Growth Artificial Intelligence Software Platform Market?
The artificial intelligence software platform market is anticipated to grow due to the increasing use of cloud-based services. Businesses are turning to these internet-hosted solutions for on-demand computing resources, allowing them to leverage these resources remotely without the need to maintain physical infrastructure. The escalation in cloud-based services can be traced back to the rising trend of remote work and the escalating demand for dynamic and adaptable IT infrastructure. AI software platforms make it possible to implement and scale AI solutions within cloud-based services, ensuring optimal usage of computing resources and smooth integration with existing systems. For instance, Eurostat, a Luxembourg-based intergovernmental organization, reported in December 2023 that 45.2% of EU businesses utilized cloud computing services primarily for email hosting and electronic file storage in 2023. This indicated a 4.2% growth from 2021. As such, the rising reliance on cloud-based services is a key factor propelling the growth of the artificial intelligence software platform market.
What Are The Market Segments In The Artificial Intelligence Software Platform Market?
The artificial intelligence software platform market covered in this report is segmented –
1) By Component: Tools, Services
2) By Technology: Computer Vision, Data Analytics, Machine Learning, Natural Language Processing, Other Technologies
3) By Application: Automation, Remote Sensing, Medical Diagnosis, Speech Recognition, Text Recognition, Other Applications
4) By Industry: Banking, Financial Services And Insurance (BFSI), Manufacturing, Healthcare, Transportation, Retail, Other Industries
Subsegments:
1) By Tools: Machine Learning Tools, Natural Language Processing (NLP) Tools, Data Analysis And Visualization Tools, Deep Learning Frameworks, Model Development And Deployment Tools
2) By Services: AI Consulting Services, AI Integration Services, AI Training Services, AI Support And Maintenance Services
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Which Emerging Market Trends Are Altering The Artificial Intelligence Software Platform Industry?
Leading firms in the artificial intelligence software platform market are investing in the growth of advanced technologies like generative artificial intelligence (AI) software platforms to establish a strong market standing. Generative AI software platforms are complete systems that facilitate the construction of AI models that can produce new content based on pre-existing data patterns. These platforms commonly utilize complex machine learning methodologies, such as deep learning and neural networks, to create original and realistic outputs that imitate human innovation and creativity. For example, a US-based firm, SparkCognition Inc., which specializes in developing AI-based machine learning software, in March 2023, debuted the premier Generative AI Platform intended for the industrial field. It's a pioneering ability that lets businesses harness AI even with limited data sets, offering them the potential to enhance sensors and generate insights quicker, using fewer data, and at considerably reduced costs. This Generative AI Platform independently enhances data sets by producing premium synthetic content like text, images, and audio, enabling AI's application in circumstances where it was not previously achievable.
Who Are the Key Players In The Artificial Intelligence Software Platform Market?
Major companies operating in the artificial intelligence software platform market report are:
• Google LLC
• Microsoft Corporation
• Dell Technologies Inc.
• Huawei Technologies Co. Ltd.
• Amazon Web Services (AWS)
• Tencent Holdings Limited
• Siemens AG
• General Electric Company
• Intel Corporation
• Accenture plc
• International Business Machines Corporation (IBM)
• Cisco Systems Inc.
• Qualcomm Inc.
• Oracle Corporation
• SAP SE
• NVIDIA Corporation
• Hewlett Packard Enterprise Company (HPE)
• Salesforce Inc.
• Baidu Inc.
• Infosys Technologies Private Limited
• Wipro Ltd.
• Splunk Inc.
• OpenAI
• Palantir Technologies Inc.
• Snowflake Inc.
• Pegasystems Inc.
• UiPath Inc.
What Are The Regional Insights Into The Artificial Intelligence Software Platform Market?
North America was the largest region in the artificial intelligence software platform market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence software platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
