No Code Artificial Intelligence (AI) Platform Market Size, Share, Growth And Forecast Report 2024 To 2033

The no code artificial intelligence (AI) platform market size has grown exponentially in recent years. It will grow from $4.34 billion in 2023 to $5.55 billion in 2024 at a compound annual growth rate (CAGR) of 27.8%. The growth in the historic period can be attributed to skill gap mitigation, rapid prototyping and development, democratization of ai, cost-efficiency, agile business requirements.

The no code artificial intelligence (AI) platform market size is expected to see exponential growth in the next few years. It will grow to $14.69 billion in 2028 at a compound annual growth rate (CAGR) of 27.6%. The growth in the forecast period can be attributed to ai adoption in diverse industries, enhanced platform capabilities, vertical-specific solutions, integration with existing systems, governance and compliance features. Major trends in the forecast period include increased collaboration, democratization of ai, pre-built models and templates, integration with business applications, explainability and transparency.

Market Overview -
A no-code artificial intelligence (AI) platform is a software tool that allows users to create and deploy artificial intelligence models and applications without the need for coding or programming skills. It simplifies AI development by providing a user-friendly interface for designing and implementing AI solutions.

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Rising Cybersecurity Concerns Fueling Growth In The No-Code Artificial Intelligence (AI) Platform Market
The need for better cybersecurity is expected to propel the growth of the no-code artificial intelligence (AI) platform market going forward. Cybersecurity is the practice of protecting computer systems and networks from digital threats and unauthorized access. It involves measures to safeguard data, privacy and the integrity of digital infrastructure. No-code AI platforms are increasingly employed in cybersecurity, simplifying threat detection and response without requiring extensive coding skills and enhancing overall security measures. For instance, in November 2022, according to the Australian Cyber Security Center, an Australia-based government agency, the number of cybercrime reports received in 2022 was 76,000, up from 13% in 2021. Therefore, the need for better cybersecurity is driving the growth of the no-code artificial intelligence (AI) platform market.

Competitive Landscape -
Major companies operating in the no code artificial intelligence (AI) platform market report are Amazon.com Inc., Apple Inc., Google LLC, Microsoft Corporation, International Business Machines Corporation, Hewlett Packard Enterprise, BioNTech SE, Medallia Inc., Quickbase Inc., DataRobot Inc., Dataiku Ltd., AgilePoint Inc., Caspio Inc. , Deci.AI Inc., Scale AI Inc., Clarifai Inc., Aible Inc., Aito Intelligence Oy, Akkio Inc., CrowdAI Inc., Intersect Labs, Levity AI GmbH, MLJAR Inc., Noogata Technologies Inc., Obviously AI Inc., Predibase Inc., Runway AI Inc., Studio Creatio, Coach Kinetix Ltd

Focus On Integration Of SaaS (software as a service) Applications To Gain A Competitive Edge
Major companies operating in the no-code artificial intelligence (AI) platform market are focused on integrating SaaS (software as a service) applications to gain a competitive edge. Integration of SaaS applications can enhance the automation capabilities of no-code AI platforms, allowing for more efficient and effective workflows. This integration can unlock new possibilities and intelligence, accelerating the delivery of AI apps. For instance, in June 2023, Amazon Web Services Inc., a US-based provider of on-demand cloud computing platforms and APIs (application programming interfaces), launched AWS AppFabric, a new no-code service that quickly connects software-as-a-service (SaaS) applications with security tools. AppFabric allows IT and security teams to quickly connect SaaS applications without the need for custom code development or maintenance. The service automatically normalizes application data, enabling administrators to set common policies, standardize security alerts and easily manage user access across multiple applications.

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Key Segments -

The no code artificial intelligence (ai) platform market covered in this report is segmented -

1) By Component: No-code AI Platforms, Services
2) By Technology: Natural Language Processing, Computer Vision, Predictive Analytics, Other Technologies
3) By Deployment: Cloud, On-premises
4) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
5) By Vertical: Banking, Financial Services And Insurance, Healthcare, Retail And E-Commerce, Information Technology (IT) And Telecom, Energy And Utilities, Government And Public Sector, Other Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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