Artificial Intelligence (AI) Software Platform Market Technological Trends and Business Opportunities 2022 to 2030
The Artificial Intelligence (AI) Software Platform market industry is projected to grow from USD 31.4 Billion in 2022 to USD 279.3 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 31.41% during the forecast period (2022 - 2030).
Shraddha Nevase
The global Artificial Intelligence Software Platform Market is predicted to touch USD 279.3 Billion at a healthy 31.41% CAGR between 2022-2030, states the recent Market Research Future (MRFR) analysis. AI software platform, simply put, is a software framework or architecture that allows the software to run on. It also includes application frameworks. Owing to its alluring features and plentiful benefits, it has wide applications in industrial automation and manufacturing, healthcare and pharmaceutical, IT and telecommunication, BFSI, transportation and automotive, retail and e-commerce, and others.
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Various factors are propelling the global artificial intelligence software platform market share. According to the recent MRFR report, such factors include proliferation in data generation, demand for AI-based solutions, technological advancements in deep neural networks, and a rise in investments in R&D of AI technology.
On the contrary, data privacy issues, lack of skilled employees, and the on-going COVID-19 pandemic are factors that may limit the global artificial intelligence software platform market growth over the forecast period.
Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global artificial intelligence software platform market based on vertical, deployment, and component.
By component, the global artificial intelligence software platform market is segmented into services and solution. The solution segment is again segmented into natural language processing, machine learning, and others. Of these, machine learning will lead the market over the forecast period.
By deployment, the global artificial intelligence software platform market is segmented into on-cloud and on-premise. Of these, the on-cloud segment will dominate the market over the forecast period.
By vertical, the global artificial intelligence software platform market is segmented into industrial automation and manufacturing, healthcare and pharmaceutical, IT and telecommunication, BFSI, transportation and automotive, retail and e-commerce, and others. Of these, the BFSI segment will have a major share in the market over the forecast period.
Regional Analysis
Based on the region, the artificial intelligence software platform market report covers the growth opportunities and recent trends across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will have the lions share in the market over the forecast period. Increasing investments in artificial intelligence, coupled with rising government investments and initiatives are adding to the global artificial intelligence software platform market growth in the region. The United States holds the utmost share in the market.
The global artificial intelligence software platform market in the APAC region is predicted to have healthy growth over the forecast period. The rapid expansion of domestic enterprises, higher technological advances, and economic development is adding to the global AI software platform industry growth in the region.
The global artificial intelligence (AI) software platform market in Europe is predicted to have sound growth over the forecast period. Technological advancements, adoption of new technology, increasing use of AI technology, and the presence of highly developed IT sectors are adding to the global artificial intelligence software platform market growth in the region.
The global artificial intelligence software platform market in the RoW is predicted to have steady growth over the forecast period.
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Key Players
Eminent contenders profiled in the global artificial intelligence software platform market report include Digital Reasoning Systems, Inc. (US), Palantir (US), Darktrace (UK), Dataiku (US), BenevolentAI (UK), CloudMinds (US), iCarbonX (China), AIBrain (US), Babylon Health (UK), ArStudioz (India), DigitalGenius (UK), Prolitus (India), Cleo AI Ltd. (UK), ValueCoders (India), Infrrd Inc. (US), H2O.ai (US), Playment (US), Salesforce (US), Qualcomm (US), Ayasdi (US), Infosys (India), Wipro (India), Amazon Web Services (US), Google (US), SAP (US), Microsoft (US), IBM (US), Nvidia (US), and Intel (US).
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