No Code Artificial Intelligence (AI) Platform Global Market Report 2024

The no code artificial intelligence (AI) platform market size has grown exponentially in recent years. It will grow from $4.34 billion in 2023 to $5.55 billion in 2024 at a compound annual growth rate (CAGR) of 27.8%. The growth observed in the historical period can be attributed to several factors, including the mitigation of skill gaps, the ability for rapid prototyping and development, the democratization of AI, cost-efficiency associated with no-code platforms, and the adaptability to agile business requirements. These factors collectively contributed to the increasing adoption and success of no-code AI platforms during the specified historical timeframe.

The no code artificial intelligence (AI) platform market size is expected to see exponential growth in the next few years. It will grow to $14.69 billion in 2028 at a compound annual growth rate (CAGR) of 27.6%. The anticipated growth in the forecast period can be attributed to the broader adoption of AI across diverse industries, improvements in platform capabilities, the development of vertical-specific solutions, seamless integration with existing systems, and the incorporation of robust governance and compliance features in no-code AI platforms. Major trends expected in this period include increased collaboration among users, the ongoing democratization of AI, the provision of pre-built models and templates for easier implementation, enhanced integration with various business applications, and a growing emphasis on explainability and transparency in AI model outputs. These trends collectively contribute to the projected growth and evolution of no-code AI platforms in the forecasted period.

The increasing demand for improved cybersecurity is expected to drive the growth of the no-code Artificial Intelligence (AI) platform market. Cybersecurity involves safeguarding computer systems and networks from digital threats and unauthorized access, focusing on protecting data, privacy, and the integrity of digital infrastructure. No-code AI platforms are becoming integral to cybersecurity practices, simplifying threat detection and response without the need for extensive coding skills, thereby enhancing overall security measures. According to the Australian Cyber Security Center in November 2022, the number of cybercrime reports received in 2022 reached 76,000, marking a 13% increase from 2021. This heightened need for improved cybersecurity is a key factor propelling the growth of the no-code AI platform market.

Prominent companies in the no-code AI platform market are strategically focusing on the integration of Software as a Service (SaaS) applications to gain a competitive advantage. The integration of SaaS applications enhances the automation capabilities of no-code AI platforms, enabling more efficient and effective workflows. This integration unlocks new possibilities and intelligence, expediting the delivery of AI applications. In June 2023, Amazon Web Services Inc., a US-based provider of on-demand cloud computing platforms and APIs, introduced AWS AppFabric, a new no-code service facilitating quick connections between Software as a Service (SaaS) applications and security tools. AppFabric enables IT and security teams to connect SaaS applications rapidly without the need for custom code development or maintenance. The service automates the normalization of application data, allowing administrators to set common policies, standardize security alerts, and manage user access across multiple applications easily.

In October 2021, Databricks Inc., a US-based web-based platform developer, acquired 8080 Labs Gmbh for an undisclosed amount. This acquisition enabled Databricks to expand its low-code/no-code capabilities by integrating bamboolib, a popular Graphical User Interface (GUI) for the Python-based Pandas data analysis and manipulation tool, into its Lakehouse Platform. 8080 Labs Gmbh, the acquired Germany-based company, specializes in developing no-code AI platforms.

Major companies operating in the no code artificial intelligence (AI) platform market report are Amazon.com Inc., Apple Inc., Google LLC, Microsoft Corporation, International Business Machines Corporation, Hewlett Packard Enterprise, BioNTech SE, Medallia Inc., Quickbase Inc., DataRobot Inc., Dataiku Ltd., AgilePoint Inc., Caspio Inc., Deci.AI Inc., Scale AI Inc., ClarifAI Inc., Aible Inc., Aito Intelligence Oy, Akkio Inc., CrowdAI Inc., Intersect Labs, Levity AI GmbH, MLJAR Inc., Noogata Technologies Inc., Obviously AI Inc., Predibase Inc., Runway AI Inc., Studio Creatio, Coach Kinetix Ltd.

North America was the largest region in the no code artificial intelligence (AI) platform market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the no code artificial intelligence (AI) platform market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the no-code artificial intelligence (AI) platforms market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The no-code artificial intelligence (AI) platforms market consists of revenues earned by entities by providing services such as AI model building, anomaly detection, integration and deployment and model monitoring and maintenance. The market value includes the value of related goods sold by the service provider or included within the service offering. The no-code artificial intelligence (AI) platforms market also includes sales of cloud-based infrastructure, tensor processing units (TPUs) and graphics processing units (GPUs). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

A no-code artificial intelligence (AI) platform is a software tool designed to enable users to create and deploy AI models and applications without requiring coding or programming skills. This platform streamlines the development of AI solutions by offering a user-friendly interface, eliminating the need for users to write complex code. The goal is to make AI development more accessible to individuals who may not have a background in programming, allowing a broader range of users to harness the power of artificial intelligence for various applications.

The main components of no-code artificial intelligence (AI) platforms encompass both the platforms themselves and related services. A no-code AI platform allows users to develop and deploy artificial intelligence solutions without the need for advanced coding or programming skills. The technologies involved in these platforms may include natural language processing, computer vision, predictive analytics, and others. No-code AI platforms are deployed through cloud and on-premises modes, catering to small and medium enterprises (SMEs) as well as large enterprises across various industries. These industries may include banking, financial services, and insurance, healthcare, retail and e-commerce, information technology (IT) and telecom, energy and utilities, government and public sector, among others.

The no-code artificial intelligence (AI) platforms market research report is one of a series of new reports that provides no-code artificial intelligence (AI) platforms market statistics, including no-code artificial intelligence (AI) platforms industry global market size, regional shares, competitors with a no-code artificial intelligence (AI) platforms market share, detailed no-code artificial intelligence (AI) platforms market segments, market trends and opportunities, and any further data you may need to thrive in the no-code artificial intelligence (AI) platforms industry. This no-code artificial intelligence (AI) platforms market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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