AI Toolkit Market 2024 Report By Key Companies, Regional Analysis And Forecast 2033

The Business Research Company has released its latest global market reports, covering insights for 2024 and offering projections up to 2033.

The Business Research Company presents an extensive market research report on the AI Toolkit Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

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%. The growth in the historic period can be attributed to the increased adoption of ai, increased threat landscape, the explosion of big data, increased demand for machine learning algorithms, 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 33.0%. The growth in the forecast period can be attributed to the rise of open source initiatives, rise of cloud computing, increasing awareness and education, rise of ai startups, increasing ai in healthcare. Major trends in the forecast period include integration of explainable ai (xai),advancements in natural language processing (nlp) tools, integration of hybrid cloud ai solutions, demand on ai ethics and responsible ai,increased adoption of automl..

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Key Market Players:

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

Market Drivers:

The growing number of cyber security threats is expected to propel the growth of the AI toolkit market going forward. Cyber security threats refer to malicious activities, actions, or potential events that aim to compromise the confidentiality, integrity, or availability of computer systems, networks, and data. The increasing cyber security threats drive the need for advanced security measures and AI toolkits play a vital role in providing the technology and tools necessary to develop innovative and effective cyber security solutions. For instance, in April 2023, according to the Government Digital Service, a UK-based government body, cybercrime affected 11% of businesses and 8% of charities in total over the past 12 months, this number increased to 26% of medium-sized businesses, 37% of large businesses, and 25% of high-income charities. Therefore, the growing number of cyber security threats is driving the growth of the AI toolkit market.

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The ai toolkit market covered in this report is segmented -

1) By Offering: Software, Hardware, Services
2) By Technology: Natural Lanaguage Processing, Machine Learning, Computer Vision, Robotic Process Automation
3) By Vertical: Banking, Financial Services and Insurance (BFSI), Retail and eCommerce, Healthcare and Life Science, Manufacturing, Telecom, Information Technology, Media and Entertainment, Energy and Utilities, Other Verticals

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This release was published on openPR.