The global AI Software Platform market was valued at USD 2.75 billion in 2019 and is expected to reach USD 11.3 billion by the end of the forecast period with a CAGR of 28.1%.
The AI Software platforms perform tasks which are done by humans with the use of machines. AI platforms simulate the cognitive function that human minds accomplish. These include learning, problem solving, reasoning, and social intelligence. Expert systems such as Speech recognition, context aware computing, and machine vision are also involved in AI application. The major factors that contribute the market growth is the increase in the investment in research and development of AI technology. The top companies like Microsoft, IBM, Google, and others are investing in R&D as well as in acquisitions of startups and mergers with other firms in this field. The technology is evolving at a great speed and the recent advances in deep neural networks is one more factor for the growth of this market. The increasing deployment of AI in various applications such as forecasts and prescriptive models, chatbots, image and speech recognition, text recognition, face detection and sentiment analysis and many others has created a huge opportunity for this market.
The on-cloud deployment of AI Software Platforms has a higher share in the current market. The on-cloud deployment will increase with a higher growth rate over the estimated period. The growth in adoption of cloud based applications and services is a major factor for this. Apart from North America, various developed countries in Europe as well as Japan, China have already started their shift towards cloud.
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The key players in the AI Software Platform market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are— Intel (US), Nvidia (US), Microsoft (US), IBM (US), Google (US), SAP (US), Amazon Web Services (US), Wipro (India), Infosys (India), Ayasdi (US), Qualcomm (US), Salesforce (US), Playment (US), H2O.ai (US), Infrrd Inc. (US).
Apart from the top key players, the other players contribute nearly 20–25 % in the AI Software Platform market. These include ValueCoders (India), Cleo AI Ltd. (UK), Prolitus (India), DigitalGenius (UK), ArStudioz (India), Babylon Health (UK), AIBrain (US), iCarbonX (China), CloudMinds (US), BenevolentAI (UK), Dataiku (US), Darktrace (UK), Palantir (US), Digital Reasoning Systems, Inc. (US), and others. Many startups across the globe are a part of this market, hence various mergers and acquisitions take place adding to the AI capabilities of the market leaders.
The global Artificial Intelligence (AI) Software Platform Market is segmented into Component, Deployment, Vertical and Region.
By component, the global AI Software Platform is segmented into Solution and Services. The Solution segment is further divided into Machine Learning, Natural Language Processing and Others.
By deployment, the global AI Software Platform is segmented into On-Premise and On-Cloud.
By vertical, the global AI Software Platform is segmented into Retail and Ecommerce, Transportation and Automotive, BFSI, IT & Telecommunication, Healthcare and Pharmaceutical, Industrial Automation and Manufacturing and Others.
By region, the AI Software Platform market is segmented into North America, Europe, Asia-Pacific, and rest of the world.
The global market for AI Software Platform is estimated to grow from $ 2.75 billion at a CAGR of 28.1% during the forecast period from 2019 to 2023. The geographical analysis of AI Software Platform market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America).
Among the regions mentioned, North America is anticipated to have the largest market share during the forecast period. The US occupies nearly 75-80% of the major key players operating in this market and has almost 75% of market share in the current market scenario. The market size of Europe is estimated to grow at the highest CAGR in the estimated duration, followed by APAC. Various startups are being setup in these regions and are giving a boost to the market share.
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- Government Agencies
- Service/Solution Providers
- Consulting Firms
- AI System Integrators
- Research Institutes and Organizations
- Technology Standards Organizations
- AI Software Platform Vendors
- Application Developers
- Initial public offering/venture capitalist/angel investors
- Information security directors/managers
- Banking, Financial Services, and Insurance (BFSI), healthcare, retail, and manufacturing organizations
TABLE OF CONTENTS
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Research Methodology
4 Market Dynamics
LIST OF TABLES
Table 1 Global AI Software Platform Market, By Region, 2019–2023
Table 2 North America: Global AI Software Platform Market, By Country, 2019–2023
Table 3 Europe: Global AI Software Platform Market, By Country, 2019–2023
Table 4 Asia-Pacific: Global AI Software Platform Market, By Country, 2019–2023
Table 5 Rest Of The World: Global AI Software Platform Market, By Country, 2019–2023
LIST OF FIGURES
FIGURE 1 Global AI Software Platform Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global AI Software Platform Market
FIGURE 4 Value Chain/Supply Chain Of Global AI Software Platform Market
FIGURE 5 Share Of Global AI Software Platform Market In 2019, By Country (In %)
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