The global sales of AI platform is projected to be worth USD 19.8 billion in 2024 and expected to reach a value of USD 136.5 billion by 2034. Sales are estimated to rise at a CAGR of 21.3% over the forecast period between 2024 and 2034. The income created by AI platform in 2023 was USD 16.3 billion. The industry is projected to register a Y-o-Y growth of 21.1% in 2024.

Attributes	Key Insights
Historical Size, 2023	USD 16.3 billion
Estimated Size, 2024	USD 19.8 billion
Projected Size, 2034	USD 136.5 billion
Value-based CAGR (2024 to 2034)	21.3%

Semi Annual Market Update

Particular	Value CAGR
H1, 2023	20.8% (2023 to 2033)
H2, 2023	21.6% (2023 to 2033)
H1, 2024	20.4% (2024 to 2034)
H2, 2024	21.9% (2024 to 2034)

Country-wise Insights

Countries	Value CAGR (2024 to 2034)
USA	19.1%
Germany	18.5%
China	22.1%
India	21.6%
UK	17.4%

Category-wise Insights

Component	AI Tools
Value Share (2024)	33.2%

Industry	IT and Telecom
Value Share (2024)	29.6%

AI Platform Market is Segmented by Component (Software and Services), Deployment (Cloud and On-Premises), End-User Enterprise Size (Large Enterprises and Small and Medium Enterprises), Application (Natural Language Processing (NLP), Computer Vision, and More), End-Use Industry (BFSI, Healthcare and Life Sciences, and More), and by Geography. The Market Forecasts are Provided in Terms of Value (USD).

Snapshot img

Artificial Intelligence Platforms Market Size 2024-2028

The artificial intelligence platforms market size is forecast to increase by USD 64.9 billion at a CAGR of 45.1% between 2023 and 2028. The market is experiencing significant growth due to the rising demand for AI-based solutions in various industries. Businesses are increasingly adopting AI technologies to automate processes, enhance productivity, and improve customer experiences. Another trend driving AI platforms market growth is the increasing interoperability among neural networks, enabling seamless data exchange and collaboration between different AI systems. However, the market also faces challenges such as the rise in data privacy issues and ethical concerns related to AI usage. As data becomes a valuable asset, ensuring its security and privacy is paramount for businesses implementing AI solutions. This dynamic market landscape underscores the critical role of artificial intelligence platforms in driving innovation and efficiency across various sectors such as education and telecommunications. Additionally, there is a need for clear regulations and guidelines to address ethical concerns and ensure transparency in AI decision-making. Overall, the market for artificial intelligence platforms is expected to continue its growth trajectory, driven by these trends and challenges.

What will be the Size of the Artificial Intelligence Platforms Market During the Forecast Period?

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Artificial Intelligence Platforms Market Segmentation

The AI platforms market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Deployment Outlook 

  On-premise
  Cloud-based


Application Outlook

  Retail
  Banking
  Manufacturing
  Healthcare
  Others


Region Outlook

  North America

    U.S.
    Canada





  Europe

    U.K.
    Germany
    France
    Rest of Europe





  APAC

    China
    India





  Middle East & Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East & Africa


  South America

    Chile
    Brazil
    Argentina

By Application Insights

The retail segment is estimated to witness significant growth during the forecast period. Artificial intelligence (AI) is revolutionizing various industries by enabling advanced data processing, pattern identification, and decision-making capabilities. In healthcare, AI is used for medical imaging analysis, drug discovery, and patient care. In the food and beverages sector, AI is employed for supply chain optimization and product innovation. Digital technologies, including AI software, are transforming banking by facilitating algorithmic trading, fraud detection, and credit risk assessment.

Industry adoption of AI is also prominent in business intelligence, customer experience, and operational efficiency. The emergence of technologies such as big data, IoT, customer relationship management (CRM), and workflow automation are accelerating technological transformations in the sector. AI is used to provide personalized recommendations, automate processes, and optimize workflows. Intelligent virtual assistants, chatbots, natural language processing, speech recognition, and conversational AI interactions are increasingly being used to enhance customer experience.

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The retail segment accounted for USD 662.60 million in 2018. Industry-specific AI Solutions are being developed for finance, where they are used for regulatory support, ethical considerations, data privacy, and security concerns. AI as a service (AIaaS) and cloud computing platforms are enabling businesses to leverage AI capabilities without having to build and maintain their own infrastructure.

Autonomous systems are being adopted for process optimization in manufacturing and logistics. In conclusion, AI is transforming industries by enabling advanced data processing, pattern identification, and decision-making capabilities. Its applications include healthcare, food and beverages, banking, business intelligence, customer experience, and operational efficiency. AI is also being used to develop industry-specific solutions for finance, and to enable autonomous systems for process optimization. Despite the numerous benefits, ethical considerations, data privacy, and security concerns remain key challenges.

Regional Analysis

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North America is estimated to contribute 66% to the growth of the global artificial intelligence platforms market during the market forecast period. Technavio's analysts have elaborately explained the regional t

In 2022, the market for artificial intelligence (AI) platforms deployed via public cloud services in the Asia-Pacific region was valued at around *** million U.S. dollars. It was forecast to grow significantly over the next years, set to reach close to **** billion dollars by 2026.

Stay updated with Market Research Intellect's AI Platform Market Report, valued at USD 27.5 billion in 2024, projected to reach USD 126.2 billion by 2033 with a CAGR of 19.2% (2026-2033).

AI Platform Market size was valued at USD 41.26 Billion in 2023 and is projected to reach USD 366.93 Billion by 2031, growing at a CAGR of 31.41% during the forecast period 2024-2031.

Global AI Platform Market Drivers

Increasing Automation Demand: The market for AI platforms is mostly driven by the growing need for automation across industries. Companies want to increase production, lower operating expenses, and increase efficiency. For a competitive edge, automation is becoming crucial in tasks like data analysis, supply chain management, and customer support. Businesses spend money on AI platforms to automate tedious jobs so that human resources can concentrate on critical projects. Furthermore, as businesses looked to streamline remote work processes, the COVID-19 epidemic hastened the trend towards automation. The use of AI platforms is fuelled by the growing need for enterprises to function more efficiently and creatively, which promotes market expansion.

The market size of the open AI platforms in China amounted to ** billion yuan in 2022. The market has enormous growth potential as it is forecasted to reach a value of over ** billion yuan by 2027. The open platforms lie at the heart of the artificial intelligence development.

According to Cognitive Market Research, the global Ai Platform market size will be USD 8512.2 million in 2023 and will expand at a compound annual growth rate (CAGR) of 30.50% from 2023 to 2030.

The demand for AI platforms is rising due toincreased adoption of enterprise AI solutions and advancements in AI technologies and algorithms.
Demand for Services remains higher in the AI platform market.
The cloud category held the highest AI platform market revenue share in 2023.
North American AI platformwill continue to lead, whereas the Asia-PacificAI platform market will experience the most substantial growth until 2030.

Market Dynamics of AI Platform Market

Key Drivers of AI Platform Market

Accelerated Digital Transformation Initiatives to Provide Viable Market Output

One key driver in the AI Platform market is the accelerated pace of digital transformation initiatives across industries. As organizations strive to remain competitive in a rapidly evolving digital landscape, the demand for AI platforms has surged. These platforms offer a comprehensive suite of tools and services to facilitate the development and deployment of AI applications, enabling businesses to harness the power of artificial intelligence for improved decision-making, operational efficiency, and enhanced customer experiences. The imperative to digitize processes and leverage AI capabilities to gain a competitive edge has become a primary driver propelling the growth of the AI Platform market.

In May 2023, An improvement to the HPE Ezmeral Software platform was announced by HPE. From the edge to the cloud, HPE Ezmeral Software extends HPE GreenLake's data and analytics capabilities.

(Source: www.hpe.com/us/en/newsroom/press-release/2023/05/hpe-ezmeral-software-accelerates-and-simplifies-analytics-and-aiml-initiatives-with-significant-advances-to-the-hybrid-multi-cloud-data-and-analytics-platform.html)

Increasing Focus on AI-Driven Innovation to Propel Market Growth

The increasing emphasis on AI-driven innovation serves as another key driver for the AI Platform market. Organizations are recognizing the transformative potential of AI in unlocking new business opportunities, driving efficiency, and fostering innovation. AI platforms play a pivotal role by providing the necessary infrastructure and tools for developers and data scientists to experiment, build, and deploy advanced AI models. As businesses seek to harness the full spectrum of AI capabilities, from machine learning to natural language processing, the demand for versatile and scalable AI platforms continues to grow. The focus on AI-driven innovation as a strategic imperative acts as a significant driver shaping the dynamics of the AI Platform market.

In April 2023, IBM Security QRadar Suite, which was just released, aims to enhance and expedite the security analyst experience during an incident.

(Source: newsroom.ibm.com/2023-04-24-IBM-Launches-New-QRadar-Security-Suite-to-Speed-Threat-Detection-and-Response)

Restraint Factors Of xyz Market AI Platform Market

Data Privacy and Security Concerns to Restrict Market Growth

A primary restraint in the AI Platform market is the heightened awareness and concern regarding data privacy and security. As AI platforms heavily rely on vast datasets for training and optimization, the collection and handling of sensitive information pose significant challenges. Organizations and users alike are increasingly wary of potential data breaches, unauthorized access, and ethical implications associated with AI-driven applications. The need for robust privacy measures, transparent data governance, and stringent security protocols becomes crucial in mitigating these concerns and fostering trust in AI platforms, impacting the market dynamics by necessitating a delicate balance between innovations and safeguarding user data.

Impact of COVID–19 on The AI Platform Market

The COVID-19 pandemic has had a mixed impact on the AI Platform market. While the initial phases of the pandemic led to disruptions in some industries, the overall effect on the AI Platform market has been positive. The crisis accelerated digital transformation efforts across various sectors, prompting businesses to prioritize automation, data analytics, and AI technologies to adapt to remote work environments and enhance operational efficiency. The increased focus on AI-driven solutio...

In 2019, the market size of Artificial Intelligence technology platforms in China amounted to over ** billion yuan. According to the forecast, the AI technology platform market was expected to grow significantly and reach almost ** billion yuan by 2024. AI platforms provide the basic technology platform for AI companies to run their business more efficiently and cost-effectively.

In 2019, IBM held *** percent of the global artificial intelligence (AI) software platforms market. Microsoft claimed the second largest market share with *** percent of the market. The AI software platforms market has grown steadily in the past years, with overall revenue reaching around *** billion U.S. dollar in 2019.

Asia Pacific Ai Platform Market size will be USD 1957.81 Million in 2023and will expand at a compound annual growth rate (CAGR) of 32.5% from 2023 to 2030.

No Code AI Platform Market is Segmented by Component (Platforms, and Services), Technology (Natural Language Processing, Computer Vision, and More), Data Modality (Text Data, and More), Deployment Mode (Cloud, and On-Premises), Enterprise Size (Large Enterprises, and SMEs), Industry Vertical (BFSI, IT and Telecom, and More), and Geography (North America, South America, Europe, Asia-Pacific, and Middle East and Africa).

Middle East and Africa Ai Platform Market size will be USD 170.24 Million in 2023 and will expand at a compound annual growth rate (CAGR) of 30.2% from 2023 to 2030.

The AI platform lending market size was valued at USD 109.73 billion in 2024 and is expected to reach USD 2.01 trillion by 2037, registering around 25.1% CAGR during the forecast period i.e., between 2025-2037. North America industry is predicted to account for largest revenue share of 32% by 2037, attributed to spiking digital banking activities and the rising number of credit card holders.

The global market size in the 'Generative AI' segment of the artificial intelligence market was forecast to continuously increase between 2025 and 2031 by in total ***** billion U.S. dollars (+****** percent). After the tenth consecutive increasing year, the market size is estimated to reach ****** billion U.S. dollars and therefore a new peak in 2031. Notably, the market size of the 'Generative AI' segment of the artificial intelligence market was continuously increasing over the past years.Find further information concerning the market size change in the 'AI Robotics' segment of the artificial intelligence market in the world and the market size in the 'Natural Language Processing' segment of the artificial intelligence market in the world.The Statista Market Insights cover a broad range of additional markets.

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Cloud Artificial Intelligence (AI) Market Size 2024-2028

The cloud artificial intelligence (ai) market size is forecast to increase by USD 12.61 billion, at a CAGR of 24.1% between 2023 and 2028.

The market is experiencing significant growth, driven by the emergence of technologically advanced devices and the increasing adoption of 5G and mobile penetration. These advancements enable faster and more efficient data processing, leading to increased demand for cloud-based AI solutions. However, the market also faces challenges from open-source platforms, which offer free alternatives to proprietary AI offerings. Companies must navigate this competitive landscape by focusing on providing value-added services and maintaining a strong competitive edge through innovation and differentiation. To capitalize on market opportunities, organizations should explore applications in sectors such as healthcare, finance, and manufacturing, where AI can drive operational efficiency, enhance customer experiences, and generate new revenue streams. Effective strategic planning and a strong focus on data security will be crucial for businesses seeking to succeed in this dynamic and evolving market.

What will be the Size of the Cloud Artificial Intelligence (AI) Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
Request Free SampleThe market continues to evolve, driven by advancements in machine learning (ML), computer vision, and natural language processing. Bias mitigation and responsible AI are increasingly prioritized, with knowledge graphs and explainable AI (XAI) playing crucial roles in ensuring transparency and trust. Agile development and AI ethics are integral to creating ethical and unbiased AI systems. ML models are being applied across various sectors, from fraud detection and sales forecasting to speech recognition and image recognition. Data security and privacy remain paramount, with cloud computing and edge computing solutions offering secure alternatives. Deep learning (DL) and reinforcement learning are advancing rapidly, enabling more sophisticated AI applications. Semantic reasoning and predictive analytics are transforming decision making, while AI-powered chatbots and virtual assistants enhance customer service. Data labeling and model training are essential components of AI development, with API integration streamlining deployment and model training. Risk management and predictive analytics are critical for businesses seeking to mitigate potential threats and optimize operations. The ongoing unfolding of market activities reveals a dynamic landscape, with AI regulations and governance emerging as key considerations. Sentiment analysis and text analytics offer valuable insights into customer behavior and preferences. In the ever-evolving AI ecosystem, continuous innovation and adaptation are essential. The integration of various AI technologies and applications will shape the future of business and society.

How is this Cloud Artificial Intelligence (AI) Industry segmented?

The cloud artificial intelligence (ai) industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ComponentSoftwareServicesGeographyNorth AmericaUSEuropeGermanyUKAPACChinaJapanRest of World (ROW)

By Component Insights

The software segment is estimated to witness significant growth during the forecast period.Artificial Intelligence (AI) software development is a significant area of innovation in the business world, with applications ranging from automating operations to personalizing service delivery and generating insights. AI technologies, such as machine learning (ML), deep learning (DL), computer vision, speech recognition, and natural language processing, are transforming industries. Responsible AI practices, including bias mitigation and explainable AI (XAI), are crucial for building trust and ensuring fairness in AI systems. Agile development methodologies facilitate the integration of AI capabilities into existing software. Data security and privacy are paramount in AI implementations. Cloud computing and edge computing provide flexible solutions for storing and processing sensitive data. AI regulations, such as those related to data privacy and security, are shaping the market. AI ethics are also a critical consideration, with transparency and accountability essential for building trust in AI systems. AI is revolutionizing various industries, from healthcare to finance and marketing. In healthcare, AI is used for predictive analytics, sales forecasting, and fraud detection, improving patient outcomes and operational efficiency. In finance, AI is used for risk management

Gain in-depth insights into Conversational Ai Platforms Market Report from Market Research Intellect, valued at USD 8.5 billion in 2024, and projected to grow to USD 26.5 billion by 2033 with a CAGR of 14.0% from 2026 to 2033.

The artificial intelligence software platforms market size registered a valuation of USD 44.9 billion in 2024 and is poised to reach USD 1.4 trillion by 2037, rising at a CAGR of 30.7% during the forecast period from 2025 to 2037. North America is poised to account for a dominant revenue share of 38.8% by the end of 2037, bolstered by a higher concentration of AI research hubs and rising adoption rates

According to Cognitive Market Research, the global Artificial Intelligence (AI) market size will be USD 161.2 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 37.90% from 2024 to 2031. Market Dynamics of Artificial Intelligence (AI) Market

Key Drivers for Artificial Intelligence (AI) Market

Increased Use of Self-driving Artificial Intelligence to Increase the Demand Globally: The artificial intelligence industry is expanding as a result of the growing use of autonomous AI. This movement is driven by developments in NPL, ML, and algorithms that make it possible to create complex autonomous AI systems. Because these systems are more accurate and dependable, businesses from a variety of industries are drawn to them. Operations are optimized using autonomous AI, which lowers costs and boosts output. Applications for it can be found in the manufacturing, transportation, healthcare, and financial industries. The use of autonomous AI is further propelled by the automation-driven cost reduction connected with the industry.

Expanding Adoption of AI Across various Industries: AI is being embraced across different industries, from health care to banking and manufacturing, to automate procedures, increase efficiency, and decrease costs., Its increasing adoption illustrates the expansion of AI utilized in numerous departments, as most executives opine automation has the capacity to improve any business decision. It is so flexible and expandable that organizations can deploy AI for various applications, including automation of processes, predictive maintenance, and user servicing, revolutionizing business operations. For Instance, in May 2024, Newgen Software introduced LumYn, the globe's first Gen AI-driven hyper-personalization platform for banks. LumYn boosts client interaction using conversational AI and predictive intelligence to deliver customized product launches while maintaining data security and privacy.

Key Restraints for Artificial Intelligence (AI) Market

Ethical Concerns Regarding AI Use is boosting the market growth: The evolution and uptake of artificial intelligence (AI) technologies in various industries, ethical issues continue to be a strong hindrance on the growth of the market. These include the possibilities of AI misuse through decision making bias in algorithms, invasion of data privacy, overreach of surveillance, and lack of transparency in AI systems. Both organizations and consumers increasingly realize how AI may reinforce social inequalities or produce unintended effects, especially in such sensitive domains as healthcare, law enforcement, hiring, and finance. Governments and regulatory agencies are now enforcing stricter ethical standards and compliance requirements, which can hinder the rollout of AI solutions.

Trends of Artificial Intelligence (AI) Market

Rapid Adoption of Generative AI Across Various Industries: Generative AI technologies—such as large language models (LLMs), image generation tools, and automated content creation systems—are being swiftly embraced across sectors including marketing, software development, customer service, and healthcare. Organizations are leveraging these tools to boost productivity, optimize content workflows, tailor customer experiences, and hasten innovation. With growing investments from both tech giants and startups, generative AI is transitioning from experimental applications to essential business functions, transforming the automation and scaling of tasks.

Growth of AI at the Edge for Immediate Decision Making: AI is progressively being implemented at the edge—on devices such as smartphones, sensors, and industrial machinery—to facilitate real-time analytics and decision-making without dependence on cloud infrastructure. This development is vital for applications in autonomous vehicles, smart manufacturing, healthcare monitoring, and security systems, where latency and data privacy are paramount. Innovations in edge computing hardware and effective AI models (e.g., TinyML) are enabling the integration of robust AI capabilities directly at the data generation source.

Key Opportunity for Artificial Intelligence (AI) Market

AI integarted Supercomputers can be an opportunity: Supercomputing offers strong processing capacity like that of High Performance Computing (HPC). But whereas an HPC server can be utilized to serve multiple appl...

Global Conversational AI Platform Market was valued at USD 7.58 Billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR 26.13% through 2029F.

Pages	185
Market Size	2023: USD 7.58 Billion
Forecast Market Size	2029: USD 30.79 Billion
CAGR	2024-2029: 26.13%
Fastest Growing Segment	Healthcare
Largest Market	North America
Key Players	1. Microsoft Corporation 2. Google LLC 3. Amazon Web Services, Inc. 4. IBM Corporation 5. SAP SE 6. Nuance Communications, Inc. 7. Cognigy GmbH 8. Kore.ai Inc. 9. Avaamo 10. SoundHound, Inc.