Press release
Artificial Intelligence Toolkit Market Opportunities Driven by AI Adoption and Technological Advancements
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 comprises the segment of the industry that provides software tools, frameworks, libraries, and platforms essential for the development and deployment of AI applications. These toolkits offer comprehensive resources for building machine learning models, natural language processing systems, computer vision solutions, and other AI-enabled technologies. Key market participants include major technology companies such as IBM, Google, Microsoft, and Amazon Web Services (AWS), alongside emerging startups and open-source initiatives.
The market is characterized by rapid innovation and significant growth, reflecting the critical role of AI toolkits in facilitating the adoption of AI across a wide range of sectors, including healthcare, finance, manufacturing, and autonomous systems. This expansion is driven by increasing demand for AI technologies across industries, highlighting the importance of advanced software tools and platforms in supporting the efficient development and deployment of AI applications.
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 witnessed significant growth in recent years, leading to an increased demand for sophisticated AI models and applications. Developing high-performance AI tools requires careful selection of model architectures, acquisition of high-quality data, and meticulous tuning of models to achieve defined key performance indicators (KPIs).
Automated machine learning (AutoML) has emerged as a pivotal technology in streamlining this process by automatically identifying optimal models and hyperparameters tailored to specific KPIs. AutoML effectively reduces the complexity associated with AI model development and optimization. For example, AI toolkits such as NVIDIA TAO leverage AutoML capabilities to automatically adjust model hyperparameters, minimizing manual intervention. This functionality is driving broader adoption of AutoML for the efficient training and deployment of robust AI solutions.
Challenges:
A primary challenge in the AI toolkit market is the lack of standardization, which poses obstacles for both enterprises and developers. The wide diversity of available AI toolkits-each with unique capabilities and limitations-complicates toolkit selection and increases the learning curve for developers. This fragmentation is driven by the rapid pace of AI innovation, the broad spectrum of AI applications, and the prevalence of open-source toolkits developed by decentralized communities. The continual emergence of new toolkits and the specialized nature of applications make the establishment and adoption of common standards challenging. As a result, market fragmentation can lead to increased operational costs, reduced productivity, and a higher risk of errors.
Regional Trends:
The North American AI toolkit market is experiencing robust growth, fueled by strong demand for AI-driven solutions across multiple industries. The region benefits from substantial investments in AI research and development, particularly in technology hubs such as Silicon Valley. Leading corporations-including IBM, Google, and Microsoft-play a central role in driving market innovation. Additionally, favorable regulatory frameworks and a supportive business environment in North America facilitate continuous technological advancements. The regional market is characterized by an ongoing focus on enhancing AI capabilities, with significant impact across sectors including 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.
Visit: https://www.insightaceanalytic.com/
Tel : +1 607 400-7072
Asia: +91 79 72967118
info@insightaceanalytic.com
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