Press release
Artificial Intelligence (AI) Toolkit Market Exclusive Report on the Latest Revenue and Future Scope
According to the latest research by InsightAce Analytic, the Global Artificial Intelligence (AI) Toolkit Market Size is valued at USD 15.02 Bn in 2022 and is predicted to reach USD 212.70 Bn by the year 2031 at a 34.46% CAGR during the forecast period for 2023-2031.
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The Artificial Intelligence (AI) Toolkit Market encompasses the industry segment that provides software tools, frameworks, libraries, and platforms designed to support the development and deployment of AI-driven applications. These toolkits enable the creation of advanced machine learning models, natural language processing systems, computer vision solutions, and other AI-powered technologies. Leading market participants include major technology corporations such as IBM, Google, Microsoft, and AWS, alongside emerging startups and open-source initiatives.
The market is experiencing rapid growth and continuous innovation, driven by increasing AI adoption across industries, including healthcare, finance, manufacturing, and autonomous systems. The expanding AI toolkit market reflects the growing need for specialized software solutions that facilitate AI application development. This surge in demand is attributed to the widespread integration of AI technologies across multiple sectors, further accelerating advancements in artificial intelligence and its practical implementation.
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
Market Dynamics:
Drivers-
The rapid expansion of Artificial Intelligence (AI) technology has significantly increased the demand for AI models and applications. The development of an effective AI tool requires appropriate model architecture, high-quality data collection, and precise tuning to achieve key performance indicators (KPIs). The emergence of Automated Machine Learning (AutoML) has streamlined this process by identifying optimal models and hyperparameters, thereby reducing manual effort. AutoML simplifies AI model selection, optimization, and deployment, making AI more accessible to businesses. Several AI toolkits, such as NVIDIA TAO, integrate AutoML features to enhance efficiency, contributing to its widespread adoption across industries.
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Challenges:
One of the primary challenges in the AI toolkit market is the lack of standardization, which creates difficulties for businesses and developers. Each AI toolkit has distinct advantages and limitations, making it challenging to choose the most suitable one for specific applications. Several factors contribute to this fragmentation, including the rapid pace of AI innovation, the diversity of AI applications, and the dominance of open-source toolkits. The continuous evolution of AI leads to the emergence of new toolkits, complicating efforts to establish industry-wide standards. Moreover, the widespread use of AI across different sectors has resulted in highly specialized AI toolkits, further increasing market complexity.
Regional Trends:
The North American AI toolkit market is experiencing substantial growth, driven by increasing demand for AI-powered solutions across multiple industries. The region benefits from strong investments in AI research and development, particularly in leading technology hubs such as Silicon Valley. Major industry players, including IBM, Google, and Microsoft, play a crucial role in driving innovation and market expansion. Additionally, favorable regulatory frameworks and a supportive business environment further encourage technological advancements. The AI toolkit market in North America continues to focus on enhancing AI capabilities, influencing industries such as healthcare, finance, and autonomous systems, and positioning the region as a global leader in AI innovation.
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.
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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
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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 a 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.https://www.insightaceanalytic.com/images_data/148861653.JPG
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