Artificial Intelligence (AI) Software Platform Market to See Huge Growth by 2030

Artificial Intelligence (AI) Software Platform Market Overview

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. 

Artificial Intelligence (AI) Software Platforms are software tools designed to enable developers to create and deploy AI applications. AI platforms provide a suite of tools and services that enable developers to create, train, and deploy machine learning models and AI applications. Some AI platforms provide a range of pre-trained models, while others allow developers to build custom models using their own data. AI platforms offer a variety of features such as data exploration, data preprocessing, model building, model deployment, and model optimization. Some AI platforms also provide a range of features such as natural language processing, automated reasoning, and computer vision capabilities.

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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. 

Artificial Intelligence (AI) Software Platform Application

·         Automation

• Remote Sensing

·         Medical Diagnosis

·         Speech Recognition

·         Text Recognition

• Others

Artificial Intelligence (AI) Software Platform Industry Vertical

• BFSI

·         Manufacturing

• Healthcare

·         Transportation

• Retail
• Others

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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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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