AI Toolkit Global Market Report 2024

The AI toolkit market size has grown exponentially in recent years. It will grow from $21.83 billion in 2023 to $29.16 billion in 2024 at a compound annual growth rate (CAGR) of 33.6%. Historical growth can be attributed to increased adoption of AI, a growing threat landscape, the proliferation of big data, rising demand for machine learning algorithms, and increased computing power.

The AI toolkit market size is expected to see exponential growth in the next few years. It will grow to $91.24 billion in 2028 at a compound annual growth rate (CAGR) of 33%. The forecasted growth can be attributed to the rise of open-source initiatives, the expansion of cloud computing, increasing awareness and education, the emergence of AI startups, and the growing implementation of AI in healthcare. Major trends in the forecast period include the integration of explainable AI (XAI), advancements in natural language processing (NLP) tools, the integration of hybrid cloud AI solutions, a focus on AI ethics and responsible AI practices, and increased adoption of AutoML (Automated Machine Learning).

The increasing prevalence of cyber security threats is projected to drive growth in the AI toolkit market in the foreseeable future. Cyber security threats encompass malicious activities or potential events aimed at compromising the confidentiality, integrity, or availability of computer systems, networks, and data. The rise in these threats underscores the necessity for advanced security measures, with AI toolkits playing a pivotal role in providing the technology and resources needed to develop innovative and effective cyber security solutions. For instance, according to the Government Digital Service, cybercrime affected a significant percentage of businesses and charities in the UK, highlighting the escalating impact of cyber security threats and the imperative for robust defense mechanisms. Consequently, the escalating number of cyber security threats serves as a catalyst for the expansion of the AI toolkit market.

Key players in the AI toolkit market are concentrating on developing generative AI toolkits to enhance their competitive position. A generative AI toolkit comprises a comprehensive suite of software tools and assets tailored to leverage the capabilities of generative artificial intelligence across various applications, particularly within the accounting and financial sectors. For example, CPA.com, a US-based company specializing in the accounting profession, introduced a Generative AI Toolkit designed specifically for accounting professionals in October 2023. This toolkit includes educational insights, downloadable resources, use-case tutorials, a security checklist, a GenAI glossary, and learning opportunities, offering a strategic 7-step plan for devising a customized AI strategy while promoting awareness and education through thought leadership materials. This initiative empowers accounting and finance professionals to navigate the evolving technological landscape adeptly.

In January 2021, NovAliX, a France-based preclinical Contract Research Organization (CRO) offering drug discovery services, collaborated with Chemical.AI. to develop an AI toolkit for drug discovery. This partnership aims to integrate the expertise of the medicinal chemistry and biophysics communities, potentially leading to advancements in drug discovery and development. The collaboration aims to expedite the development of AI tools and enhance industry-available services such as next-generation Computer-Aided Synthesis Planning (CASP). Chemical.AI. is a China-based company specializing in AI-assisted continuous flow chemistry.

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.

North America was the largest region in the AI toolkit market in 2023. 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. The countries covered in the AI toolkit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The AI toolkit market includes revenues earned by entities by providing services such as machine learning frameworks, data processing and manipulation, model deployment, visualization, cloud services, and reinforcement learning. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The AI Toolkit market consists of sales of TensorFlow, PyTorch, scikit-learn, matplotlib, and hugging face transformers. 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).

An AI toolkit refers to a collection of software tools, frameworks, libraries, and resources utilized by developers and researchers to construct, deploy, and experiment with artificial intelligence (AI) applications. These toolkits offer a range of pre-built functions and utilities, streamlining the development process and enabling users to work with AI algorithms and models more effectively.

The primary offerings of an AI toolkit include software, hardware, and services. The term "software" typically encompasses a suite of computer programs, applications, and algorithms geared towards facilitating the development, deployment, and management of AI solutions. It encompasses various technologies such as natural language processing, machine learning, computer vision, and robotic process automation. These software solutions find applications across multiple industries including banking, financial services, and insurance (BFSI), retail and e-commerce, healthcare and life sciences, manufacturing, telecommunications, information technology, media and entertainment, energy and utilities, and other verticals.

The AI toolkit market research report is one of a series of new reports that provides AI toolkit market statistics, including AI toolkit industry global market size, regional shares, competitors with AI toolkit market share, detailed AI toolkit market segments, market trends, and opportunities, and any further data you may need to thrive in the AI toolkit industry. This AI toolkit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios 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.


This product will be delivered within 3-5 business days.