The artificial intelligence software platform market size has grown exponentially in recent years. It will grow from $43.85 billion in 2023 to $59.1 billion in 2024 at a compound annual growth rate (CAGR) of 34.8%. The expansion observed in the historical period can be attributed to several factors, including increased demand for automation across industries, growth in big data and the need for data processing solutions, increased adoption of cloud computing and storage, and the expansion of AI applications in healthcare, finance, and retail sectors.
The artificial intelligence software platform market size is expected to see exponential growth in the next few years. It will grow to $195.99 billion in 2028 at a compound annual growth rate (CAGR) of 34.9%. The projected growth in the forecast period can be attributed to several factors, including the accelerating adoption of AI in autonomous vehicles and smart transportation systems, the expansion of AI applications in cybersecurity for threat detection and prevention, an increasing focus on personalized customer experiences through AI-driven solutions, and growing demand for AI solutions in remote work and virtual collaboration. Significant trends anticipated in the forecast period encompass advancements in Natural Language Processing (NLP), the integration of AI capabilities into edge devices and edge computing platforms, the convergence of AI with other emerging technologies such as blockchain, quantum computing, and 5G proliferation of AI marketplaces and platforms, and a shift towards AI-driven automation and augmentation.
The upward trend in the adoption of cloud-based services is poised to drive the expansion of the artificial intelligence software platform market in the foreseeable future. Cloud-based services are internet-hosted solutions that offer computing resources on demand, allowing businesses to access and utilize computing resources remotely without the need for maintaining physical infrastructure. This surge in cloud-based services is driven by various factors, including the increasing embrace of remote work and the rising demand for scalable and flexible IT infrastructure. Artificial intelligence software platforms facilitate the deployment and scalability of AI solutions within cloud-based services, enabling efficient utilization of computing resources and seamless integration with existing infrastructure. For example, Eurostat reported that in December 2023, 45.2% of EU enterprises purchased cloud computing services, primarily for hosting e-mail systems and storing files electronically, marking a 4.2% increase compared to 2021. Thus, the growth in cloud-based service adoption is propelling the artificial intelligence software platform market.
Key players in the artificial intelligence software platform market are focused on developing advanced technological solutions such as generative artificial intelligence (AI) software platforms to stay competitive. Generative AI software platforms are comprehensive systems that facilitate the creation of AI models capable of generating new content based on patterns learned from existing data. These platforms typically utilize advanced machine learning techniques like deep learning and neural networks to produce realistic and novel outputs that emulate human creativity and imagination. For instance, in March 2023, SparkCognition Inc., a US-based AI-based machine learning software developer, introduced the first Generative AI Platform for the industrial sector. This groundbreaking capability allows organizations to leverage AI even with limited data sets, enabling faster insight generation at significantly lower costs. The Generative AI Platform autonomously augments data sets by generating high-quality synthetic content such as text, images, and audio, facilitating AI application in previously unfeasible scenarios.
In December 2023, Siemens AG, a Germany-based technology company, acquired BuntPlanet SL for an undisclosed sum. This acquisition positions Siemens to enhance its software solutions for the water industry, offering water utilities worldwide access to cutting-edge AI technology. BuntPlanet SL, based in Spain, specializes in providing an artificial intelligence software platform that delivers solutions for leak detection, water quality improvement, and end-use water analysis.
Major companies operating in the artificial intelligence software platform market 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.
North America was the largest region in the artificial intelligence software platform market in 2023. 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. The countries covered in the artificial intelligence software platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
An artificial intelligence software platform is a comprehensive software framework or ecosystem that encompasses tools, libraries, and APIs (application programming interfaces) for the development, deployment, and management of AI-based applications and services. These platforms empower organizations to create and implement AI applications such as predictive analytics and natural language processing, aiming to streamline processes, enhance decision-making, and improve customer experiences across various industries and domains.
The primary components of an artificial intelligence software platform include tools and services. Tools encompass software applications and platforms designed to aid users in developing, deploying, and managing AI solutions. This software platform leverages various technologies, including computer vision, data analytics, machine learning, natural language processing, among others, and finds applications in automation, remote sensing, medical diagnosis, speech recognition, text recognition, among others. These platforms are widely utilized across diverse industries, notably banking, financial services and insurance (BFSI), manufacturing, healthcare, transportation, retail, among others.
The artificial intelligence software platform market research report is one of a series of new reports that provides artificial intelligence software platform market statistics, including artificial intelligence software platform industry global market size, regional shares, competitors with a artificial intelligence software platform market share, detailed artificial intelligence software platform market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence software platform industry. This artificial intelligence software platform 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 artificial intelligence software platform market consists of revenues earned by entities providing services such as AI algorithm development, model training, data preprocessing, deployment infrastructure, and maintenance for AI-based applications. 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 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).
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.
The artificial intelligence software platform market size is expected to see exponential growth in the next few years. It will grow to $195.99 billion in 2028 at a compound annual growth rate (CAGR) of 34.9%. The projected growth in the forecast period can be attributed to several factors, including the accelerating adoption of AI in autonomous vehicles and smart transportation systems, the expansion of AI applications in cybersecurity for threat detection and prevention, an increasing focus on personalized customer experiences through AI-driven solutions, and growing demand for AI solutions in remote work and virtual collaboration. Significant trends anticipated in the forecast period encompass advancements in Natural Language Processing (NLP), the integration of AI capabilities into edge devices and edge computing platforms, the convergence of AI with other emerging technologies such as blockchain, quantum computing, and 5G proliferation of AI marketplaces and platforms, and a shift towards AI-driven automation and augmentation.
The upward trend in the adoption of cloud-based services is poised to drive the expansion of the artificial intelligence software platform market in the foreseeable future. Cloud-based services are internet-hosted solutions that offer computing resources on demand, allowing businesses to access and utilize computing resources remotely without the need for maintaining physical infrastructure. This surge in cloud-based services is driven by various factors, including the increasing embrace of remote work and the rising demand for scalable and flexible IT infrastructure. Artificial intelligence software platforms facilitate the deployment and scalability of AI solutions within cloud-based services, enabling efficient utilization of computing resources and seamless integration with existing infrastructure. For example, Eurostat reported that in December 2023, 45.2% of EU enterprises purchased cloud computing services, primarily for hosting e-mail systems and storing files electronically, marking a 4.2% increase compared to 2021. Thus, the growth in cloud-based service adoption is propelling the artificial intelligence software platform market.
Key players in the artificial intelligence software platform market are focused on developing advanced technological solutions such as generative artificial intelligence (AI) software platforms to stay competitive. Generative AI software platforms are comprehensive systems that facilitate the creation of AI models capable of generating new content based on patterns learned from existing data. These platforms typically utilize advanced machine learning techniques like deep learning and neural networks to produce realistic and novel outputs that emulate human creativity and imagination. For instance, in March 2023, SparkCognition Inc., a US-based AI-based machine learning software developer, introduced the first Generative AI Platform for the industrial sector. This groundbreaking capability allows organizations to leverage AI even with limited data sets, enabling faster insight generation at significantly lower costs. The Generative AI Platform autonomously augments data sets by generating high-quality synthetic content such as text, images, and audio, facilitating AI application in previously unfeasible scenarios.
In December 2023, Siemens AG, a Germany-based technology company, acquired BuntPlanet SL for an undisclosed sum. This acquisition positions Siemens to enhance its software solutions for the water industry, offering water utilities worldwide access to cutting-edge AI technology. BuntPlanet SL, based in Spain, specializes in providing an artificial intelligence software platform that delivers solutions for leak detection, water quality improvement, and end-use water analysis.
Major companies operating in the artificial intelligence software platform market 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.
North America was the largest region in the artificial intelligence software platform market in 2023. 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. The countries covered in the artificial intelligence software platform market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
An artificial intelligence software platform is a comprehensive software framework or ecosystem that encompasses tools, libraries, and APIs (application programming interfaces) for the development, deployment, and management of AI-based applications and services. These platforms empower organizations to create and implement AI applications such as predictive analytics and natural language processing, aiming to streamline processes, enhance decision-making, and improve customer experiences across various industries and domains.
The primary components of an artificial intelligence software platform include tools and services. Tools encompass software applications and platforms designed to aid users in developing, deploying, and managing AI solutions. This software platform leverages various technologies, including computer vision, data analytics, machine learning, natural language processing, among others, and finds applications in automation, remote sensing, medical diagnosis, speech recognition, text recognition, among others. These platforms are widely utilized across diverse industries, notably banking, financial services and insurance (BFSI), manufacturing, healthcare, transportation, retail, among others.
The artificial intelligence software platform market research report is one of a series of new reports that provides artificial intelligence software platform market statistics, including artificial intelligence software platform industry global market size, regional shares, competitors with a artificial intelligence software platform market share, detailed artificial intelligence software platform market segments, market trends and opportunities, and any further data you may need to thrive in the artificial intelligence software platform industry. This artificial intelligence software platform 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 artificial intelligence software platform market consists of revenues earned by entities providing services such as AI algorithm development, model training, data preprocessing, deployment infrastructure, and maintenance for AI-based applications. 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 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).
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.
Table of Contents
1. Executive Summary2. Artificial Intelligence Software Platform Market Characteristics3. Artificial Intelligence Software Platform Market Trends and Strategies32. Global Artificial Intelligence Software Platform Market Competitive Benchmarking33. Global Artificial Intelligence Software Platform Market Competitive Dashboard34. Key Mergers and Acquisitions in the Artificial Intelligence Software Platform Market
4. Artificial Intelligence Software Platform Market - Macro Economic Scenario
5. Global Artificial Intelligence Software Platform Market Size and Growth
6. Artificial Intelligence Software Platform Market Segmentation
7. Artificial Intelligence Software Platform Market Regional and Country Analysis
8. Asia-Pacific Artificial Intelligence Software Platform Market
9. China Artificial Intelligence Software Platform Market
10. India Artificial Intelligence Software Platform Market
11. Japan Artificial Intelligence Software Platform Market
12. Australia Artificial Intelligence Software Platform Market
13. Indonesia Artificial Intelligence Software Platform Market
14. South Korea Artificial Intelligence Software Platform Market
15. Western Europe Artificial Intelligence Software Platform Market
16. UK Artificial Intelligence Software Platform Market
17. Germany Artificial Intelligence Software Platform Market
18. France Artificial Intelligence Software Platform Market
19. Italy Artificial Intelligence Software Platform Market
20. Spain Artificial Intelligence Software Platform Market
21. Eastern Europe Artificial Intelligence Software Platform Market
22. Russia Artificial Intelligence Software Platform Market
23. North America Artificial Intelligence Software Platform Market
24. USA Artificial Intelligence Software Platform Market
25. Canada Artificial Intelligence Software Platform Market
26. South America Artificial Intelligence Software Platform Market
27. Brazil Artificial Intelligence Software Platform Market
28. Middle East Artificial Intelligence Software Platform Market
29. Africa Artificial Intelligence Software Platform Market
30. Artificial Intelligence Software Platform Market Competitive Landscape and Company Profiles
31. Artificial Intelligence Software Platform Market Other Major and Innovative Companies
35. Artificial Intelligence Software Platform Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Artificial Intelligence Software Platform Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on artificial intelligence software platform market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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- Benchmark performance against key competitors.
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- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for artificial intelligence software platform? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The artificial intelligence software platform market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
1) by Component: Tools; Services2) 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
Key Companies Mentioned: Google LLC; Microsoft Corporation; Dell Technologies Inc.; Huawei Technologies Co. Ltd.; Amazon Web Services (AWS)
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | June 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 59.1 Billion |
Forecasted Market Value ( USD | $ 195.99 Billion |
Compound Annual Growth Rate | 34.9% |
Regions Covered | Global |