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Artificial Intelligence Platforms Market to grow by USD 17.29 bn | Evolving Opportunities with Alphabet Inc., Amazon.com Inc. & Microsoft Corp. | 17000+ Technavio Reports
NEW YORK, Jan. 13, 2022 /PRNewswire/ -- 68% of the growth will originate from North America for the artificial intelligence platforms market. The US is the key market for artificial intelligence platforms market in North America. The US and Canada together hold approximately 26% of all global AI-related patent applications, while IBM has the largest share of AI-related patents, followed by Microsoft and Google. Market growth in this region will be slower than the growth of the market in APAC, Europe, and MEA. The need for automated machine-driven decisions will facilitate the artificial intelligence platform's market growth in North America over the forecast period. The artificial intelligence platforms market is set to grow by USD 17.29 billion at a CAGR of 35% from 2020 to 2025, according to the latest research report from Technavio.
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The artificial intelligence platforms market covers the following areas:
Artificial intelligence platforms market - Driver
The key factor driving growth in the artificial intelligence platforms market is the rise in demand for AI-based solutions. With the increasing application of robotics in repetitive and risky tasks, end-users are increasingly seeking avenues to eliminate the drawbacks of industrial automation and robotic technologies. These limitations arise due to factors such as the cost, computational capacity, storage, size, power supply, motion mode, and working environment. SMEs are adopting cloud solutions to leverage the scalability of hardware and resources offered by cloud providers. Organizations can scale their workload only if and when required and thereby eliminate the need to set up their own data centers that involve high CAPEX and operational expenditure (OPEX). The increased need for automation and optimization of business operations are driving more organizations to adopt AI-based solutions.
Artificial intelligence platforms market - Challenge
The rise in data privacy issues will be a major challenge for the artificial intelligence platforms market. AI applications involve several safety and security issues. The risk of information leakage is high in AI solutions and can result in the misuse or manipulation of data. Also, customers are concerned about the lack of transparency regarding the use and processing of data. These issues can have several legal and security ramifications related to organizational infrastructure, access control, identity management, risk management, regulatory and legislative compliance, auditing, and logging. AI-based solutions leverage high volumes of data to derive insights for future business planning and optimization of operations. The data processed by AI can be retrieved from several connected devices, which, however, is affecting data security and privacy through data exploitation, identification and tracking, voice and facial recognition, and customer profiling.
Artificial intelligence platforms market - Segmentation & Revenue Generating Segment
The Artificial Intelligence Platforms Market is segmented by Deployment (On-premise and Cloud-based) and Geography (North America, APAC, Europe, South America, and MEA).
The artificial intelligence platform's market share growth by the on-premise segment will be significant for revenue generation. On-premises AI platforms are majorly developed and used by large enterprises that have a global presence with the aim of gaining more control and ownership over their operations as well as the data generated and stored within the application. Organizations apply AI and ML technologies to extract and analyze massive data sets that contain sensitive information. Hence, such organizations prefer to operate through on-premises deployment than in the cloud.
Technavio report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters.
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Companies Mentioned
The artificial intelligence platforms market is concentrated and the vendors are deploying growth strategies such as strategic alliances to compete in the market.
- Alibaba Group Holding Ltd.
- Alphabet Inc.
- Amazon.com Inc.
- Microsoft Corp.
- Palantir Technologies Inc.
- Salesforce.com Inc.
- SAP SE
- SAS Institute Inc.
- Tata Consultancy Services Ltd.
- International Business Machines Corp.
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Artificial Intelligence Platforms Market Scope
| Report Coverage
| Details
| Page number
| 120
| Base year
| 2020
| Forecast period
| 2021-2025
| Growth momentum & CAGR
| Accelerate at a CAGR of 35%
| Market growth 2021-2025
| USD 17.29 billion
| Market structure
| Concentrated
| YoY growth (%)
| 32.12
| Regional analysis
| North America, APAC, Europe, South America, and MEA
| Performing market contribution
| North America at 68%
| Key consumer countries
| US, China, UK, Germany, and Japan
| Competitive landscape
| Leading companies, competitive strategies, consumer engagement scope
| Companies profiled
| Alibaba Group Holding Ltd., Alphabet Inc., Amazon.com Inc., Microsoft Corp., Palantir Technologies Inc., Salesforce.com Inc., SAP SE, SAS Institute Inc., Tata Consultancy Services Ltd., and International Business Machines Corp.
| Market Dynamics
| Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period,
| Customization purview
| If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
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