NEW YORK, Nov. 11, 2021 /PRNewswire/ -- According to the research report "Artificial Intelligence Platforms Market - Forecast and Analysis Report 2021-2025", the market is expected to have a YOY growth rate of 32.12% in 2021, growing at a CAGR of 35% between 2020 and 2025.
North America is the largest market for artificial intelligence platforms. The high adoption of AI across various industries such as banking and retail, increasing investments in emerging technologies, and the presence of dominant players are creating significant growth opportunities for artificial intelligence platforms vendors in North America.
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Vendor Insights
The global artificial intelligence platforms market is concentrated in nature due to the presence of fewer global and regional players. 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. are some of the dominant vendors featured in the report.
The competitive scenario in the market is dynamic with low M&A activities and increased investments by vendors. However, with the increasing number of startups that offer AI platforms, the competition in the market is expected to intensify over the forecast period. Hence, to remain competitive in the market, prominent vendors are focusing on the launch of new and innovative solutions and expanding their reach. For instance, In May 2021, SAP SE launched the SAP Learning Hub edition for SAP Next-Gen, a free educational offering designed for students and lecturers.
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Geographical Market Analysis
North America will provide maximum growth opportunities in the artificial intelligence platforms market during the forecast period. According to our research report, the region currently holds 68% of the global market share and is expected to dominate the market through 2025.
The report also offers a detailed analysis of the growth of the market across APAC, Europe, South America, and MEA. In addition, countries such as the US, China, the UK, Germany, and Japan are expected to emerge as prominent markets for artificial intelligence platforms during the forecast period.
Know more about this market's geographical distribution along with the detailed analysis of the top regions. www.technavio.com/report/artificial-intelligence-platforms-market-size-industry-analysis
Key Market Trends & Challenges:
The report identifies the increasing interoperability among neural networks as the major trend influencing the artificial intelligence platforms market. One of the challenges that are limiting the adoption of AI is the lack of interoperability among DL frameworks that use neural networks. To overcome this challenge, prominent players such as AWS, Facebook, and Microsoft collaborated in 2017 to build the Open Neural Network Exchange (ONNX). The ONNX is eliminating the need to build neural networks for each network and is emerging as an essential ecosystem for the internet industry. Most of the players ranging from researchers to edge device manufacturers are now relying on ONNX as the standard runtime for forward integration. This is improving the interoperability among different frameworks and increasing the adoption of AI, which is positively influencing market growth.
However, the rise in data privacy issues will challenge the growth of the market players. The risk of data leakage and the misuse or manipulation of data is high in AI solutions. Also, the user data processed by AI solutions can be retrieved from connected devices, which is creating concerns over data security. Also, the use of cloud solutions is making AI platforms vulnerable to cyber threats and hacking, which is hindering the growth opportunities for vendors.
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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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SOURCE Technavio
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