Press release
Global Artificial Intelligence Platforms Market Projected to Surpass $51.73 Billion by 2029 with 27.7% Annual Growth
Artificial Intelligence Platforms Market
The surge in the automotive sector is anticipated to boost the artificial intelligence platform market in the future. The sector comprises businesses that are responsible for designing, developing, manufacturing, distributing and selling automobiles. The use of AI platforms in predicting potential vehicle failures by data analysis from sensors, identification of patterns, and the prediction of maintenance requirements is crucial as it aids in averting breakdowns and minimising downtime. For example, in January 2024, the Board of Governors of the Federal Reserve System, a US government agency, announced an increase in total vehicle production in the United States to 10.80 million units in December 2023, up from 10.47 million units in the previous month. Additionally, according to the European Automobile Manufacturers Association in May 2023, a Belgium-based association, approximately 85.4 million motor vehicles were produced globally in 2022, marking a 5.7% increase from 2021. Thus, the expansion of the automotive industry is a significant driving force for the growth of the artificial intelligence platform market.
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How will the growth rate of the artificial intelligence platforms market shape industry trends by 2034?
In recent times, the market size for artificial intelligence platforms has seen a significant growth. The market, originally valued at $15.2 billion in 2024, is predicted to expand to $19.44 billion in 2025, showing a compound annual growth rate (CAGR) of 27.9%. The historical growth has been driven by factors such as increased access to big data, the development of machine learning algorithms, the incorporation of cloud computing, distinct applications within various industries, and a burgeoning talent population.
In upcoming years, the artificial intelligence platforms market is predicted to witness remarkable growth, reaching a value of $51.73 billion in 2029, expanding at a compound annual growth rate (CAGR) of 27.7%. Factors that are likely to contribute to this growth during the projected period include the democratization of AI, the dramatic expansion of IoT devices, advancements in natural language processing (NLP), and a concentrated effort on explainability and trustworthiness, as well as the integration of edge AI. Key trends expected during this forecast period include global cooperation on AI standards, the role of AI in cybersecurity, swift technological breakthroughs, the application of AI for cybersecurity, and AI-powered devops (AIOps).
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What are the emerging trends shaping the future of the artificial intelligence platforms market?
Leading businesses in the artificial intelligence platform market are pioneering new products equipped with sophisticated technologies, such as AI-empowered decision-making platforms, in order to establish a competitive advantage. These AI-driven decision-making platforms are technological solutions that utilize artificial intelligence algorithms and machine learning abilities to assess data, extrapolate insights and deliver automated decisions or recommendations. For instance, in May 2023, aim10x, a fresh AI platform, was unveiled by o9 Solutions Inc., a software firm based in the United States. Aim10x is a distinct global environment tailored to assist inventors, scholars, and cross-industry leaders in enterprise planning and decision-making. It offers a customized experience with curated content, webinars, digital and physical events, and a global live event series. The platform is designed to aid experts in areas like supply chain, procurement, revenue management, IT, and sustainability to better collaborate, exchange insights, and learn from each other, thereby leading their organizations into the digital era.
Which primary segments of the artificial intelligence platforms market are driving growth and industry transformations?
The artificial intelligence platforms market covered in this report is segmented -
1) By Component: Artificial Intelligence Tools, Artificial Intelligence Machine Learning Platforms, Artificial Intelligence Natural Language Processing Platforms, Artificial Intelligence Services
2) By Deployment Mode: Cloud-Based Ai Platforms, On-Premise Ai Platforms
3) By Application: Forecasts And Prescriptive Models, Chatbots, Speech Recognition, Text Recognition, Other Applications
4) By Industry Vertical: Manufacturing, Healthcare, BFSI (Banking, Financial Services, And Insurance), It And Telecom, Automotive, Education, Media And Entertainment, Transportation, Retail And E-Commerce, Other Industry Verticals
Subsegments:
1) By Artificial Intelligence Tools: Development Tools, Visualization Tools, Testing And Monitoring Tools
2) By Artificial Intelligence Machine Learning Platforms: Cloud-Based ML Platforms, On-Premises ML Platforms, Automated Machine Learning (AutoML) Tools
3) By Artificial Intelligence Natural Language Processing Platforms: Speech Recognition, Text Analysis, Language Generation
4) By Artificial Intelligence Services: Consulting Services, Implementation Services, Maintenance And Support Services
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Which geographical regions are pioneering growth in the artificial intelligence platforms market?
North America was the largest region in the artificial intelligence platforms market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence platforms market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the artificial intelligence platforms market landscape?
Major companies operating in the artificial intelligence platforms market report are Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Microsoft Corporation, Alibaba Group Holding Limited, Meta Platforms Inc., Amazon Web Services Inc., General Electric Company, Intel Corporation, International Business Machines Corporation (IBM), Qualcomm Technologies Inc., Nvidia Corporation, Hewlett Packard Enterprise (HPE), salesforce.com inc., Siemens AG, Infosys Limited, Wipro Limited, NEXT IT CORPORATION, Kasisto Inc., Enlitic Inc., Premonition LLC, iCarbonX Corporation, Absolutdata Ltd., Rainbird Technologies Inc., Mindmeld Inc., H2O.ai, Ayasdi Inc., General Vision Inc.
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What Is Covered In The Artificial Intelligence Platforms Global Market Report?
• Market Size Forecast: Examine the artificial intelligence platforms market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the artificial intelligence platforms market for a structured understanding.
• Key Players Overview: Analyze major players in the artificial intelligence platforms market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence platforms market.
• Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence platforms market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence platforms market.
• Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence platforms market.
• Competitive Landscape: Review strategic developments in the artificial intelligence platforms market, including expansions, agreements, and new product launches.
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