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Automotive Industry Growth Fuels Expansion Of The Artificial Intelligence Platform Market: The Driving Engine Behind Artificial Intelligence Platforms Market Evolution in 2025
Artificial Intelligence Platforms
Artificial Intelligence Platforms Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The size of the market for artificial intelligence platforms has seen exponential growth in the past few years. We anticipate it to escalate from $15.2 billion in 2024 to a staggering $19.36 billion in 2025, marking a compound annual growth rate (CAGR) of 27.4%. Factors contributing to this notable growth during the historic period include the increasing accessibility of big data, the evolution of machine learning algorithms, the integration of cloud computing, applications tailored to specific industries, and the expanding pool of skilled professionals.
Artificial Intelligence Platforms Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for a significant expansion in the artificial intelligence platforms market in the coming years. The market is projected to swell to $51.52 billion by 2029, with a compound annual growth rate (CAGR) of 27.7%. This anticipated growth during the forecast period is attributed to factors such as the democratization of AI, the explosive growth of Internet-of-Things (IoT) devices, advancements in Natural Language Processing (NLP), emphasis on clarity and reliability, and the integration of edge AI. The forecast period will also see predominant trends like global cooperation on AI standards, the implementation of AI in cybersecurity, fast-paced technological advancements, AI-driven DevOps (AIOps), and AI's role in cybersecurity.
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What Are the Drivers Transforming the Artificial Intelligence Platforms Market?
The expansion of the automotive sector is predicted to fuel the progression of the artificial intelligence platform market. The automotive sector includes all enterprises connected with the concept, creation, manufacture, promoting and trade of motor vehicles. AI systems play a pivotal role in forecasting likely machinery malfunctions in vehicles by analyzing sensor data, identifying trends, and assessing maintenance needs. This significantly helps in averting vehicle failures and decreasing downtime. For instance, the Board of Governors of the Federal Reserve System, a government agency in the US, reported in January 2024 that the total vehicle production in the United States had risen to 10.80 million units in December 2023, an increment from 10.47 million units in November 2023. Moreover, the European Automobile Manufacturers Association, based in Belgium, revealed in May 2023 that approximately 85.4 million motor vehicles were produced worldwide in 2022, marking an increase of 5.7% from 2021. Consequently, the expansion of the automotive sector is amplifying the growth of the artificial intelligence platform market.
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What Long-Term Trends Will Define the Future of the Artificial Intelligence Platforms Market?
Leading enterprises in the artificial intelligence platform market are innovating and developing products that integrate cutting-edge technologies such as AI-fueled decision-making frameworks to establish a competitive market stand. A decision-making mechanism powered by AI is a tech solution utilizing AI algorithms and machine learning capacities to examine data, generate insights, and offer recommendations or automated choices. For example, in May 2023, o9 Solutions Inc., a software firm based in the US, initiated a novel AI platform called aim10x. This platform is an exclusive global arena designed to facilitate enterprise planning and decision-making for innovators, academics, and cross-industry leaders. With personalized features including curated content, webinars, both online and offline events, and a series of global live events, aim10x aspires to assist professionals in sectors like supply chain, procurement, revenue management, IT, and sustainability. They aim to foster better connections, share valuable insights, learn from their peers and guide their respective organizations into the digital era.
Which Segments in the Artificial Intelligence Platforms Market Offer the Most Profit Potential?
The artificial intelligence platformsmarket 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 Firms Dominate the Artificial Intelligence Platforms Market by Market Share and Revenue in 2025?
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.
Which Regions Offer the Highest Growth Potential 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.
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