The artificial intelligence platforms market share is expected to grow at a CAGR of 34.86% between 2022 and 2027. The rising demand for AI-based solutions and the increasing investments in AI start-ups provide a promising ground for the artificial intelligence platforms market.
Increasing demand for AI hardware in high-performance computing data centers and the growing volumes of data in industries such as healthcare and automotive are the reasons behind the growth of cloud-based solutions. The advent of advanced technologies, such as IoT and blockchain, has made IT infrastructure management increasingly complex, which, in turn, is driving organizations to migrate their solutions from traditional on-premises to cloud-based deployments.
Browse Technavio's 185-page report and in-depth TOC on "Artificial Intelligence Platforms Market by application (retail, banking, manufacturing, healthcare, and others), deployment (on-premise and cloud-based), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
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The artificial intelligence platforms market is segmented by application (retail, banking, manufacturing, healthcare, and others), deployment (on-premise and cloud-based), and geography (North America, APAC, Europe, South America, and the Middle East and Africa).
The market share growth by the retail segment will be significant during the forecast period. The emergence of technologies such as Big Data, IoT, and workflow automation are accelerating technological transformations in the sector. North America is estimated to contribute 66% to the growth of the global market during the forecast period. North America is one of the major regions driving the adoption of AI platforms in various industries, such as banking and retail.
The lack of skilled professionals has become a major challenge to the adoption of artificial intelligence platforms. A major deterrent to the growth of the market is the lack of technical expertise among the workforce. The rise in the number of industries and businesses around the world has led to the generation of huge volumes of data. The inadequate skill sets can adversely affect the efficient delivery of AI platforms.
The market structure is fragmented, and the vendors are implementing various strategies such as technological innovations to compete in the market.
Some of the major artificial intelligence platforms market vendors are Alphabet Inc., Amazon.com Inc., Amelia US LLC, Baidu Inc., Dell Technologies Inc., Hewlett Packard Enterprise Co., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Palantir Technologies Inc., Qualcomm Inc., Salesforce.com Inc., SAP SE, SAS Institute Inc., ServiceNow Inc., Tata Consultancy Services Ltd., and Wipro Ltd.
amazon.com - The company offers artificial intelligence platforms such as Streamline self-service processes with Conversational AI.
amelia.com- The company offers artificial intelligence platforms such as Amelia Conversational AI.
baidu.com- The company offers artificial intelligence platforms such as Baidu AI cloud.
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Precise market size estimation during the forecast period 2023-2027.
CAGR of the artificial intelligence platforms market forecast during 2023-2027.
Market-level data on units, average selling prices, and values of the artificial intelligence platform's market share.
Prediction of the upcoming trends, drivers, and factors that challenge the artificial intelligence platforms market.
Artificial intelligence platforms market growth across North America, APAC, Europe, South America, and the Middle East and Africa.