Artificial Intelligence Platforms Market will reach $ USD 132.5 billion in 2032 Size, Development Data, Growth Analysis & Forecast 2022 to 2028 -Google, Baidu, IBM, Microsoft, SAP, Intel, Salesforce, Brighterion, KITT.AI, IFlyTek, Megvii Technology, Alber

The global artificial intelligence market size was valued at USD 102.5 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 34.1% from 2022 to 2032. this market will reach $ USD 132.5 billion in 2032 The continuous research and innovation directed by the tech giants are driving the adoption of advanced technologies in industry verticals, such as automotive, healthcare, retail, finance, and manufacturing. For instance, In November 2020, Intel Corporation acquired Cnvrg.io., an Israeli company that develops and operates a platform for data scientists to build and run machine learning models, to boost Artificial Intelligence (AI) business. However, technology has always been an essential element for these industries, but AI has brought technology to the center of organizations.AI platform market size is expected to grow from USD 2.12 Billion in 2016 to USD 9.88 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 30.5%. The base year considered for this study is 2016, and the forecast period considered is between 2017 and 2022.

Leading players of Artificial Intelligence Platforms including:

Google, Baidu, IBM, Microsoft, SAP, Intel, Salesforce, Brighterion, KITT.AI, IFlyTek, Megvii Technology, Albert Technologies, H2O.ai, Brainasoft, Yseop, Ipsoft, NanoRep(LogMeIn), Ada Support, Astute Solutions, IDEAL.com, Wipro

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For instance, from self-driving vehicles to crucial life-saving medical gear, AI is being infused virtually into every apparatus and program. AI is proven to be a significant revolutionary element of the upcoming digital era. Tech giants like Amazon.com, Inc.; Google LLC; Apple Inc.; Facebook, International Business Machines Corporation, and Microsoft are investing significantly in the research and development of AI. These companies are working to make AI more accessible for enterprise use-cases. Moreover, various companies adopt AI technology to provide a better customer experience. For instance, in March 2020, McDonald's made its most significant tech investment of USD 300 million to acquire AI start-up Tel Aviv to provide a personalized customer experience using AI.

The essential fact accelerating the rate of innovation in AI is accessibility to historical datasets. Since data storage and recovery have become more economical, healthcare institutions and government agencies build unstructured data accessible to the research domain. Researchers are getting access to rich datasets from historic rain trends to clinical imaging. The next-generation computing architectures, with access to rich datasets, are encouraging information scientists and researchers to innovate faster. Furthermore, progress in profound learning and ANN (Artificial Neural Networks) has also fueled the adoption of AI in several industries, such as aerospace, healthcare, manufacturing, and automotive.
As a result of these issues, the Artificial Intelligence Platforms industry has been hampered. Because of the industry's small number of important enterprises, the Artificial Intelligence Platforms area is heavily targeted. Customers would benefit from this research since they would be informed about the current Artificial Intelligence Platforms scenario. The most recent innovations, product news, product variants, and in-depth updates from industry specialists who have effectively leveraged Artificial Intelligence Platforms position are all included in this research study. Many firms would benefit from Artificial Intelligence Platforms research study in identifying and expanding their global demand. Micro and macro trends, important developments, and their usage and penetration across a wide variety of end-users are also included in the Artificial Intelligence Platforms segment.

The market analysis done with statistical tools also helps to analyze many aspects that include the demand, supply, storage costs, maintenance, profit, sales, and production details of the market. Furthermore, the global Artificial Intelligence Platforms research report provides the details about the Artificial Intelligence Platforms share, import volume, export volume, and the gross margin of the companies.

Artificial Intelligence Platforms Segmentation by Type:

On-Premise, Cloud-based.

Artificial Intelligence Platforms Segmentation by Application:

Voice Processing, Text Processing, Image Processing

Solution Insights
The software solutions segment led the market and accounted for a revenue share of more than 38.0% in 2021. This high percentage can be attributed to prudent advances in information storage capacity, high computing power, and parallel processing capabilities to deliver high-end services. Furthermore, the ability to extract data, provide real-time insight and aid decision-making positioned this segment to capture the largest portion of the market. AI software in dynamic end-use verticals. Artificial intelligence software solutions include libraries for designing and deploying AI applications, such as primitives, linear algebra, inference, sparse matrices, video analytics, and multiple hardware communication capabilities. The need for enterprises to understand and analyze visual content to gain meaningful insights is expected to spur the adoption of artificial intelligence software over the forecast period

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End-use Insights
The advertising and media segment led the market and accounted for a revenue share of more than 20.0% in 2021. This high share is attributable to the growing AI marketing applications with significant traction. For instance, in January 2022, Cadbury started an initiative to let small business owners create their AD for free using the face and voice of the celebrity with the help of an AI tool. However, the healthcare sector is anticipated to gain a leading share by 2030. The healthcare segment has been segregated based on use-cases, such as robot-assisted surgery, dosage error reduction, virtual nursing assistants, clinical trial participant identifier, hospital workflow management, preliminary diagnosis, and automated image diagnosis. The BFSI segment includes financial analysis, risk assessment, and investment/portfolio management solicitations. Artificial intelligence has witnessed a significant share in the BFSI due to the sector's high demand for risk and compliance applications.

Regional Insights
North America dominated the market and accounted for a revenue share of over 42.0% in 2021. This high share is attributable to favorable government initiatives to encourage the adoption of AI across various industries. For instance, in February 2019, U.S. President Donald J. Trump launched the American AI Initiative as the nation's strategy for promoting leadership in artificial intelligence. As part of this initiative, Federal agencies have fostered public trust in AI-based systems by establishing guidelines for its development and real-life implementation across different industrial sectors.

In Asia Pacific, the market is anticipated to witness significant CAGR over the forecast period. This growth owes to the significantly increasing investments in artificial intelligence. For instance, in April 2018, Baidu, Inc., a China-based tech giant, announced that it had entered into definitive agreements with investors concerning the divestiture of its financial services group (FSG), providing wealth management, consumer credit, and other business services. The investors are led by Carlyle Investment Management LLC and Tarrant Capital IP, LLC, with participation from ABC International, and Taikanglife, among others. Also, a growing number of AI start-ups in the region are boosting the adoption of AI to improve operational efficiency and enable process automation.

Key Companies & Market Share Insights
Vendors in the market are focusing on increasing the customer base to gain a competitive edge. Therefore, key players are taking several strategic initiatives, such as mergers and acquisitions and partnerships. For instance, in April 2020, Advanced Micro Devices announced a strategic alliance with Oxide Interactive LLC, a video game developer company, to develop graphics technologies for the cloud gaming market space. Both companies have planned to create a set of tools and techniques to address the real-time demands of cloud-based gaming. Also, in December 2019, Intel Corporation completed the acquisition of Habana Labs Ltd., an Israel-based deep learning company. This acquisition is anticipated to strengthen Intel Corporation's AI portfolio and boost its efforts in the AI silicon market.

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Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

The changes in methodology of various sectors toward automation to increase the productivity of the organizations, and rise in demand for smart virtual assistant are the factors responsible for the growth of artificial intelligence platform market. In addition, rise in the demand for artificial intelligence and machine learning based solutions are responsible for market growth. However, lack of skilled professionals and security related issues such as data privacy and unreliability are the factors hampering the growth of artificial intelligence platform industry. Furthermore, increase in innovations across end-users and use of artificial intelligence to identify business trends are expected to provide lucrative opportunities to the growth of AI platform market.

The market trends for artificial intelligence platform market are as follows:

Adoption of AI platform by manufacturing sector

The AI is one of the foundations of the growing digitalization of the manufacturing sector. Technologies underlying this process such as IoT, 5G, cloud computing, big data analytics, smart sensors, 3D printing and robotics are expected to transform manufacturing segment into a single system. In the factories, the manufacturing processes will be connected, and AI solutions will be linking the machines, interfaces, and components for better efficiency. Large amounts of data would be collected and stored into AI electrical devices, which would in turn enhance the manufacturing process.

Asia Pacific is expected to observe significant growth

Asia-Pacific region which mainly consist of both developing and developed countries. These countries are making the use of latest technologies in order to automate business operations. Japan being the developed country is implementing the robots in various sectors which functions using artificial intelligence. Likewise, China and India are developing autonomous weapons which are based on latest technology. This adoption of latest artificial technology by the countries of the region drives the market growth.

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