Artificial Intelligence Platform Market by Component (Tools, Services), Deployment Mode (Cloud, On-Premises), Application (Forecasts & Prescriptive Models, Chatbots, Speech Recognition, Text Recognition), End-User, and Region Global Forecast to 2022
[144 Pages Report] The Artificial Intelligence (AI) platform market is said to have a potential scope for growth in the years to come, due to the generation of large amount of data that requires analysis to improve decision-making process of service providers. The growing demand for AI-based solutions and proliferation in data generation are some of the major driving factors for the market. The AI platform market size is expected to grow from USD 2.12 Billion in 2016 to USD 9.88 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 30.5%. The base year considered for this study is 2016, and the forecast period considered is between 2017 and 2022.
The objective of the study is to define, describe, and forecast the global AI platform market on the basis of tools (Natural Language Processing (NLP) and Machine Learning (ML)), services (managed and professional), deployment modes (cloud and on-premises), applications (forecasts and prescriptive models, chatbots, speech recognition, text recognition, and others (includes face detection, sentiment analysis)), and regions. The report also aims at providing detailed information about the major factors influencing the growth of the AI platform market (drivers, restraints, opportunities, and challenges).
The research methodology used to estimate and forecast the global AI platform market size began with the capturing of data on the key vendor revenues through secondary research, annual reports, Institute of Electrical and Electronic Engineers (IEEE), Factiva, Bloomberg, and press releases. The vendor offerings were also taken into consideration to determine the market segmentations. The bottom-up procedure was employed to arrive at the overall market size from the revenues of the key market players. After arriving at the overall market size, the total market was split into several segments and sub-segments, which were then verified through primary research by conducting extensive interviews with key individuals, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, and executives. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of the profiles of the primary participants is depicted in the figure given below:
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The major AI Platform vendors are Microsoft (US), Google (US), Salesforce (US), IBM (US), Intel (US), Amazon Web Services (US), HPE (US), Ayasdi (US), Qualcomm Technologies (US), and Absolutdata (US). These Artificial Intelligence Platform Vendors are rated and listed by us on the basis of product quality, reliability, and their business strategy. Please visit 360Quadrants to see the vendor listing of Artificial Intelligence Platform.
Target Audience for AI platform market
- AI platform software and service providers
- Initial public offering/venture capitalist/angel investors
- Information security directors/managers
- Banking, Financial Services, and Insurance (BFSI), healthcare, retail, and manufacturing organizations
- IT directors/consultants
- Government organizations
- Consultants/advisory firms
- Training and education service providers
- Managed service providers
Scope of the AI platform market report
The research report segments the market into the following segments:
By Component:
- Tools
- Services
By Tools
- NLP
- ML
By Service
- Managed
- Professional
By Deployment Mode:
- Cloud
- On-premises
By Application:
- Forecasts and prescriptive models
- Chatbots
- Speech recognition
- Text recognition
- Others (face detection and sentiment analysis)
By End-User:
- Manufacturing
- Healthcare
- BFSI
- Research and academia
- Transportation
- Retail and eCommerce
- Others (oil and gas, and advertising)
By Region:
- North America
- Europe
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Product Analysis
- Product matrix which gives a detailed comparison of product portfolio of each company
Geographic Analysis
- Further breakdown of the APAC AI Platform market
- Further breakdown of the North American market
- Further breakdown of the MEA market
- Further breakdown of the European market
- Further breakdown of the Latin American market
Company Information
- Detailed analysis and profiling of additional market players (Up to 5)
The global AI platform market is expected to grow from USD 2.61 Billion in 2017 to USD 9.88 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 30.5%. The major driving factors for the market are a proliferation in data generation, increasing demand for AI-based solutions, increasing operational efficiency and reduced cost, and growing need to enhance customer experience.
In the tools segment, Machine Learning (ML) tool is expected to have a larger market share and is expected to grow at a higher CAGR during the forecast period. AI platform tools help in deploying AI enabled algorithms or APIs. Various industry sectors such as Banking, Financial Services, and Insurance (BFSI), healthcare, and retail and eCommerce are deploying AI platform applications to analyze large amount of data, required for making a better decision.
In the services segment, the managed service is expected to grow at a higher CAGR, and is expected to be a larger contributor among all the services. The managed service is said to be growing faster, as there are 2 modes for deploying AI platform: cloud and on-premises. The complexity involved in maintenance and support of infrastructure management is sorted by managed service providers, who enable organizations to use AI platform enabled solutions at its full potential.
In the deployment mode segment, the cloud deployment mode is expected to have the largest market share, also it is expected to grow at the highest CAGR during the forecast period. Cloud-based solutions offer wide and agile solutions to cater to the AI platform market.
In the application segment, the forecasts and prescriptive models is the expected to have the largest market share, whereas text recognition is expected to grow at the highest CAGR during the forecast period. The forecasts and prescriptive models help in the analysis of customer behavior as well as to recognize specific patterns in the data.
In the end-user segment, the BFSI sector is expected to be the highest contributor, whereas the healthcare sector is projected to grow at the highest CAGR during the forecast period. Both sectors are deploying AI platforms to get insights from a large amount of data, enhance customer experience, analyze trends from the data, and enhance decision-making process. The other end-users, such as manufacturing, retail and eCommerce, transportation, and research and academia are contributing significantly to the AI platform market due to the concerns such as increased need for real-time data, reduced time to response to customer queries, and improved business process time. These verticals are also expected to witness significant growth rates during the forecast period.
The global AI platform market has been segmented on the basis of regions into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America. North America is estimated to be the largest revenue-generating region. This is mainly because, in the developed economies of the US and Canada, there is a high focus on innovations obtained from R&D. These regions have the most competitive and rapidly changing AI platform market in the world. The APAC region is expected to be the fastest-growing region in the AI platform market. The higher technological advancement and rapid expansion of domestic enterprises in the APAC region, has led APAC to become a highly potential market.
Lack of skilled employees and data privacy issues across emerging economies are some of the obstacles in the growth of the AI platform market. These factors account for the risk of failure to perform in the competitive business world, which necessitates the need for AI platform solutions.
The major vendors that offer AI platform solutions across the globe are Microsoft (US), Google (US), Salesforce (US), IBM (US), Intel (US), Amazon Web Services (US), HPE (US), Ayasdi (US), Qualcomm Technologies (US), and Absolutdata (US).
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Table of Contents
1 Introduction (Page No. - 13)
1.1 Objectives of the Study
1.2 AI Platform Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology (Page No. - 17)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primaries
2.1.2.2 Key Industry Insights
2.2 AI Platform Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Research Assumptions
2.4 Limitations
3 Executive Summary (Page No. - 24)
4 Premium Insights (Page No. - 29)
4.1 Attractive Market Opportunities in the AI Platform Market
4.2 Artificial Intelligence Platform Market, By End-User, 20172022
4.3 Artificial Intelligence Platform Market Lifecycle Analysis, By Region, 20172022
5 Market Overview (Page No. - 32)
5.1 Introduction
5.2 Artificial Intelligence Platform Architecture
5.3 Regulatory Implications
5.3.1 Introduction
5.3.2 Federal Trade Commission (FTC)
5.3.3 Health Insurance Portability and Accountability Act (HIPAA)
5.3.4 Food and Drug Administration (FDA)
5.3.5 International Organization for Standardization (ISO)
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Increasing Demand for Ai-Based Solutions
5.4.1.2 Proliferation in Data Generation
5.4.2 Restraints
5.4.2.1 Slow Digitization Rate Across Emerging Economies
5.4.3 Opportunities
5.4.3.1 Increasing Demand for Intelligent Business Processes
5.4.3.2 Growing Innovations Across End-Users
5.4.4 Challenges
5.4.4.1 Lack of Skilled Employees
5.4.4.2 Data Privacy Issues
6 Artificial Intelligence Platform Market, By Component (Page No. - 38)
6.1 Introduction
6.2 Tools
6.2.1 Natural Language Processing
6.2.2 Machine Learning
6.3 Services
6.3.1 Managed Services
6.3.2 Professional Services
7 AI Platform Market, By Deployment Mode (Page No. - 45)
7.1 Introduction
7.2 Cloud
7.3 On-Premises
8 Artificial Intelligence Platform Market, By Application (Page No. - 48)
8.1 Introduction
8.2 Forecasts and Prescriptive Models
8.3 Chatbots
8.4 Speech Recognition
8.5 Text Recognition
8.6 Others
9 AI Platform Market, By End-User (Page No. - 54)
9.1 Introduction
9.2 Manufacturing
9.2.1 Use Case
9.3 Healthcare
9.3.1 Use Case
9.4 Banking, Financial Services, and Insurance
9.4.1 Use Case
9.5 Research and Academia
9.5.1 Use Case
9.6 Transportation
9.6.1 Use Case
9.7 Retail and Ecommerce
9.7.1 Use Case
9.8 Others
10 Artificial Intelligence Platform Market, By Region (Page No. - 67)
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia Pacific
10.5 Middle East and Africa
10.6 Latin America
11 Competitive Landscape (Page No. - 85)
11.1 Overview
11.1.1 Key Developments By Leading Players in the Artificial Intelligence Platform Market for 20152017
11.2 Competitive Situations and Trends
11.2.1 New Product Launches
11.2.2 Mergers and Acquisitions
11.2.3 Agreements, Partnerships, and Collaborations
11.3 Market Ranking of Players in the Artificial Intelligence Platform Market, 2017
11.4 Microquadrant Overview
11.4.1 Visionary Leaders
11.4.2 Innovators
11.4.3 Dynamic Differentiators
11.4.4 Emerging Companies
11.5 Competitive Benchmarking
11.5.1 Strength of Product Portfolio in the Artificial Intelligence Platform Market
11.5.2 Business Strategy Excellence in the Market
12 Company Profiles (Page No. - 95)
(Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
12.1 Microsoft
12.2 Google
12.3 IBM
12.4 Intel
12.5 Infosys
12.6 Wipro
12.7 Ayasdi
12.8 Salesforce
12.9 HPE
12.10 Qualcomm Technologies
12.11 Amazon Web Services
12.12 Absolutdata
12.13 SAP
*Details on Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.
13 Appendix (Page No. - 136)
13.1 Discussion Guide
13.2 Knowledge Store: Marketsandmarkets Subscription Portal
13.3 Introducing RT: Real-Time Market Intelligence
13.4 Available Customizations
13.5 Related Reports
13.6 Author Details
List of Tables (61 Tables)
Table 1 United States Dollar Exchange Rate, 20142016
Table 2 AI Platform Market Size, By Component, 20152022 (USD Million)
Table 3 Component: AI Platform Market Size, By Tool, 20152022 (USD Million)
Table 4 Natural Language Processing Market Size, By Deployment Mode, 20152022 (USD Million)
Table 5 Machine Learning Market Size, By Deployment Mode, 20152022 (USD Million)
Table 6 AI Platform Market Size, By Service, 20152022 (USD Million)
Table 7 Managed Services Market Size, By Deployment Mode, 20152022 (USD Million)
Table 8 Professional Services Market Size, By Deployment Mode, 20152022 (USD Million)
Table 9 AI Platform Market Size, By Deployment Mode, 20152022 (USD Million)
Table 10 Artificial Intelligence Platform Market Size, By Application, 20152022 (USD Million)
Table 11 Forecasts and Prescriptive Models: Artificial Intelligence Platform Application Market Size, By Component, 20152022 (USD Million)
Table 12 Chatbots: Artificial Intelligence Platform Application Market Size, By Component, 20152022 (USD Million)
Table 13 Speech Recognition: Artificial Intelligence Platform Application Market Size, By Component, 20152022 (USD Million)
Table 14 Text Recognition: Artificial Intelligence Platform Application Market Size, By Component, 20152022 (USD Million)
Table 15 Others: Artificial Intelligence Platform Application Market Size, By Component, 20152022 (USD Million)
Table 16 AI Platform Market Size, By End-User, 20152022 (USD Million)
Table 17 Manufacturing: AI Platform Market Size, By Component, 20152022 (USD Million)
Table 18 Manufacturing: Market Size, By Region, 20152022 (USD Million)
Table 19 Healthcare: Market Size, By Component, 20152022 (USD Million)
Table 20 Healthcare: Market Size, By Region, 20152022 (USD Million)
Table 21 Banking, Financial Services, and Insurance: Market Size, By Component, 20152022 (USD Million)
Table 22 Banking, Financial Services, and Insurance: Market Size, By Region, 20152022 (USD Million)
Table 23 Research and Academia: Market Size, By Component, 20152022 (USD Million)
Table 24 Research and Academia: Market Size, By Region, 20152022 (USD Million)
Table 25 Transportation: AI Platform Market Size, By Component, 20152022 (USD Million)
Table 26 Transportation: Market Size, By Region, 20152022 (USD Million)
Table 27 Retail and Ecommerce: Market Size, By Component, 20152022 (USD Million)
Table 28 Retail and Ecommerce: Market Size, By Region, 20152022 (USD Million)
Table 29 Others: Market Size, By Component, 20152022 (USD Million)
Table 30 Others: Market Size, By Region, 20152022 (USD Million)
Table 31 AI Platform Market Size, By Region, 20152022 (USD Million)
Table 32 North America: AI Platform Market Size, By Component, 20152022 (USD Million)
Table 33 North America: Market Size, By Tool, 20152022 (USD Million)
Table 34 North America: Market Size, By Service, 20152022 (USD Million)
Table 35 North America: Artificial Intelligence Platform Market Size, By Deployment Mode, 20152022 (USD Million)
Table 36 North America: Market Size, By Application, 20152022 (USD Million)
Table 37 North America: Market Size, By End-User, 20152022 (USD Million)
Table 38 Europe: AI Platform Market Size, By Component, 20152022 (USD Million)
Table 39 Europe: Market Size, By Tool, 20152022 (USD Million)
Table 40 Europe: Market Size, By Service, 20152022 (USD Million)
Table 41 Europe: Artificial Intelligence Platform Market Size, By Deployment Mode, 20152022 (USD Million)
Table 42 Europe: Market Size, By Application, 20152022 (USD Million)
Table 43 Europe: Market Size, By End-User, 20152022 (USD Million)
Table 44 Asia Pacific: AI Platform Market Size, By Component, 20152022 (USD Million)
Table 45 Asia Pacific: Market Size, By Tool, 20152022 (USD Million)
Table 46 Asia Pacific: Market Size, By Service, 20152022 (USD Million)
Table 47 Asia Pacific: Artificial Intelligence Platform Market Size, By Deployment Mode, 20152022 (USD Million)
Table 48 Asia Pacific: Market Size, By Application, 20152022 (USD Million)
Table 49 Asia Pacific: Market Size, By End-User, 20152022 (USD Million)
Table 50 Middle East and Africa: AI Platform Market Size, By Component, 20152022 (USD Million)
Table 51 Middle East and Africa: Market Size, By Tool, 20152022 (USD Million)
Table 52 Middle East and Africa: Market Size, By Service, 20152022 (USD Million)
Table 53 Middle East and Africa: Artificial Intelligence Platform Market Size, By Deployment Mode, 20152022 (USD Million)
Table 54 Middle East and Africa: Market Size, By Application, 20152022 (USD Million)
Table 55 Middle East and Africa: Market Size, By End-User, 20152022 (USD Million)
Table 56 Latin America: AI Platform Market Size, By Component, 20152022 (USD Million)
Table 57 Latin America: Market Size, By Tool, 20152022 (USD Million)
Table 58 Latin America: Market Size, By Service, 20152022 (USD Million)
Table 59 Latin America: Artificial Intelligence Platform Market Size, By Deployment Mode, 20152022 (USD Million)
Table 60 Latin America: Market Size, By Application, 20152022 (USD Million)
Table 61 Latin America: Market Size, By End-User, 20152022 (USD Million)
List of Figures (40 Figures)
Figure 1 Global AI Platform Market: Market Segmentation
Figure 2 Global Artificial Intelligence Platform Market: Research Design
Figure 3 Data Triangulation
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
Figure 5 Market Size Estimation Methodology: Top-Down Approach
Figure 6 AI Platform Market Snapshot, By Component (2017 vs 2022)
Figure 7 Market Snapshot, By Tool
Figure 8 Market Snapshot, By Service Type
Figure 9 Artificial Intelligence Platform Market Snapshot, By Deployment Mode
Figure 10 Market Snapshot, By Application (2017 vs 2022)
Figure 11 AI Platform Market Snapshot, By End-User (2017 vs 2022)
Figure 12 Market Snapshot, By Region
Figure 13 Proliferation in Data Generation and Demand for Artificial Intelligence Solutions are Expected to Drive the Overall Growth of the AI Platform Market
Figure 14 Healthcare End-User is Expected to Have the Highest Growth Rate in the Artificial Intelligence Platform Market During the Forecast Period
Figure 15 Regional Lifecycle: Asia Pacific is Expected to Exhibit the Highest Growth Potential During the Forecast Period
Figure 16 Market Investment Scenario: Asia Pacific is Expected to Rise as the Best Opportunity Market for Investment in the Next 5 Years
Figure 17 Artificial Intelligence Platform Architecture
Figure 18 AI Platform Market: Drivers, Restraints, Opportunities, and Challenges
Figure 19 Tools Segment is Expected to Exhibit A Higher CAGR During the Forecast Period
Figure 20 Machine Learning Tool is Expected to Exhibit A Higher CAGR During the Forecast Period
Figure 21 Managed Services Segment is Expected to Lead the Artificial Intelligence Platform Market During the Forecast Period
Figure 22 Cloud Segment is Expected to Exhibit A Higher CAGR During the Forecast Period
Figure 23 Text Recognition Segment is Expected to Exhibit the Highest CAGR During the Forecast Period
Figure 24 Healthcare End-User is Expected to Exhibit the Highest CAGR During the Forecast Period
Figure 25 North America is Expected to Have the Largest Market Share in the Artificial Intelligence Platform Market
Figure 26 Asia Pacific is Expected to Have the Highest Growth Rate in the Artificial Intelligence Platform Market During the Forecast Period
Figure 27 North America: Market Snapshot
Figure 28 Asia Pacific: Market Snapshot
Figure 29 AI Platform Market (Global) Competitive Leadership Mapping, 2017
Figure 30 Microsoft: Company Snapshot
Figure 31 Google: Company Snapshot
Figure 32 IBM: Company Snapshot
Figure 33 Intel: Company Snapshot
Figure 34 Infosys: Company Snapshot
Figure 35 Wipro: Company Snapshot
Figure 36 Salesforce: Company Snapshot
Figure 37 HPE: Company Snapshot
Figure 38 Qualcomm Technologies: Company Snapshot
Figure 39 Amazon Web Services: Company Snapshot
Figure 40 SAP: Company Snapshot
Growth opportunities and latent adjacency in Artificial Intelligence Platform Market