Press release
Artificial Intelligence (AI) Toolkit Market Key Players Analysis - Microsoft (US), Google (US), IBM (US), Oracle (US), Thales Group (France).
Artificial Intelligence (AI) Toolkit Market
According to the latest research by InsightAce Analytic, the Global Artificial Intelligence (AI) Toolkit Market is valued at US$ 15.02 Bn in 2022, and it is expected to reach US$ 212.70 Bn by 2031, with a CAGR of 34.46% during the forecast period of 2023-2031.
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The Artificial Intelligence (AI) Toolkit Market encompasses the industry segment that delivers software tools, frameworks, libraries, and platforms designed to support the development and deployment of AI applications. These toolkits provide comprehensive resources for constructing machine learning models, natural language processing systems, computer vision solutions, and other AI-driven technologies. Prominent market participants include leading technology companies such as IBM, Google, Microsoft, and Amazon Web Services (AWS), alongside emerging startups and open-source initiatives. The market is marked by rapid innovation and substantial growth, reflecting the critical role AI toolkits play in accelerating AI adoption across diverse sectors, including healthcare, finance, manufacturing, and autonomous systems. This expansion is fueled by the rising demand for AI technologies across multiple industries, underscoring the importance of advanced software tools and platforms in enabling efficient AI application development and deployment.
List of Major Players in the Artificial Intelligence (AI) Toolkit market:
• Microsoft (US) Google (US)
• IBM (US)
• Oracle (US)
• Thales Group (France)
• Salesforce (US)
• Intel (US)
• Adobe (US)
• Meta Platforms (US)
• AWS (US)
• NVIDIA Corporation (US)
• H2O.ai (US)
• Alteryx (US)
• Altair (US)
• KNIME (Switzerland)
• DataRobot (US)
• Jasper (US)
• Rasa (US)
• SuperAnnotate (US)
• OpenAI (US)
• Obviously AI (US)
• Fiddler AI (US)
• Determined AI (US)
• Snorkel Al (US)
• Levity Al (Germany)
• Union AI (US)
• Attri AI (US)
• Regie.ai (US)
• Others
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Market Dynamics:
Drivers:
The artificial intelligence (AI) technology sector has experienced substantial growth in recent years, resulting in an increased demand for AI models and applications. Developing precise AI tools requires selecting appropriate model architectures, gathering high-quality data, and fine-tuning models to meet targeted key performance indicators (KPIs). Automated machine learning (AutoML) has become instrumental in simplifying this process by automatically identifying optimal models and hyperparameters aligned with specific KPIs. AutoML effectively abstracts much of the complexity involved in creating and optimizing AI models. For instance, AI toolkits such as NVIDIA TAO incorporate AutoML functionalities that optimize model hyperparameters automatically, minimizing the need for manual intervention. This capability is driving wider adoption of AutoML for training and deploying robust AI models.
Challenges:
A significant challenge in the AI toolkit market is the lack of standardization, which presents obstacles for both businesses and developers. The diversity among available AI toolkits, each with distinct strengths and limitations, complicates the selection process for enterprises and increases the learning curve for developers. Factors contributing to this lack of standardization include the rapid pace of AI innovation, the wide variety of AI applications, and the predominance of open-source toolkits developed by decentralized communities. The constant emergence of new toolkits and the specialized nature of applications make establishing and adopting common standards difficult. Consequently, this fragmentation can lead to increased operational costs, diminished productivity, and a higher likelihood of errors.
Regional Trends:
The AI toolkit market in North America is experiencing robust growth, driven by strong demand for AI-driven solutions across multiple industries. The region benefits from significant investments in AI research and development, particularly in technology centers such as Silicon Valley. Leading corporations-including IBM, Google, and Microsoft-play a pivotal role in advancing the market. Moreover, North America's favorable regulatory frameworks and supportive business environment foster continuous innovation. The regional market is characterized by an ongoing emphasis on enhancing AI capabilities and accelerating technological advancements, with considerable impact across sectors such as healthcare, finance, and autonomous vehicles.
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Recent Developments:
• In Nov 2023, IBM declared its intention to release a data governance toolbox for artificial intelligence (AI) models that would be widely accessible. The purpose of this toolkit is to enhance openness in the recommendations produced by AI tools. IBM has announced that watsonx.governance will be accessible starting in early December 2023.
• In May 2023, Jasper declared an expanded collaboration with Google Cloud. The collaboration extended the accessibility of Jasper to a vast user base via the Google Cloud Marketplace, incorporated an additional foundational model into Jasper's AI Engine in conjunction with Google's Vertex AI, and unveiled fresh functionalities for Jasper Everywhere. By forming this partnership, Jasper successfully implemented its overarching goal of offering customized AI support to enterprises, accessible from any location they establish.
Segmentation of Artificial Intelligence (AI) Toolkit market -
By Offering:
• Software
• Hardware
o Processors
o Accelerators
Graphics processing units (GPUs)
Tensor processing units
Field programmable processing units
Neuromorphic chips
o Others Hardware Types
• Services
o Professional Services
Consulting
Deployment & Integration
Support & Maintenance
• Managed Services
By Technology:
• Natural Language Processing
• Machine Learning
• Computer Vision
By Vertical:
• Banking, Financial Services, & Insurance (BFSI)
• Retail & eCommerce
• Healthcare & Life Sciences
• Manufacturing
• Telecom
• IT & ITeS
• Media & Entertainment
• Energy & Utilities
• Government & Defense
• Automotive, Transportation, & Logistics
• Other Verticals (Education, Travel & Hospitality, Construction & Real Estate, and Agriculture)
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
Read Overview Report- https://www.insightaceanalytic.com/report/artificial-intelligence-ai-toolkit-market/2212
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
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Asia: +91 79 72967118
info@insightaceanalytic.com
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