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Global Artificial Intelligence Platforms Market: About this market
Artificial intelligence platform is a service that uses a software framework and a hardware architecture to build intelligent applications. artificial intelligence platforms market analysis considers sales from on-premises and cloud-based deployment. Our analysis also considers the sales of artificial intelligence platforms in APAC, Europe, North America, South America, and MEA. In 2018, the on-premises segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising focus on handling critical business data and risk management strategies will play a significant role in the on-premises segment to maintain its market position. Also, our global artificial intelligence platforms market report looks at factors such as the rising demand for AI-based solutions, increasing investments in R&D for AI technology, and rise in demand for cloud-based AI solutions. However, data privacy issues, vendor lock-in issues in AI platforms, and need for regulatory compliance may hamper the growth of the artificial intelligence platforms industry over the forecast period.
Global Artificial Intelligence Platforms Market: Overview
Increasing investments in R&D for AI technology
Government bodies and enterprises are making efforts to stay ahead in the competition by developing AI-based platforms. In addition, the demand for AI technology is increasing due to the increase in number of start-ups and investments by major vendors. For instance, Germany launched its digital strategy on AI called “AI Made in Germany” to fuel the economic and technological growth in the country. Several firms are adopting AI bots, virtual assistants, digital payment advisers, and biometric fraud detection mechanisms to track consumer behavior and enhance their compliance with regulatory systems. This increasing investments in R&D for AI technology will lead to the expansion of the global artificial intelligence platforms market at a CAGR of over 28% during the forecast period.
Increasing convergence of AI with IoT and Blockchain
Organizations are increasingly trying to mitigate the risks and limitations associated with platforms through the convergence of AI with IoT and Blockchain. The resultant new platforms use AI algorithms, IoT systems, and Blockchain technology to produce, process, and secure the data. The use of such platforms helps the organizations to improve their compliance with regulatory systems by tracking their consumer behavior. This is encouraging enterprises and government bodies to invest in AI, which is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global artificial intelligence platforms market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of several major players, the global artificial intelligence platforms market is fragmented. Robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading artificial intelligence platforms manufacturers, that include Alibaba Cloud, Amazon Web Services Inc., Google LLC, IBM Corp., Microsoft Corp., Palantir Technologies Inc., Salesforce.com Inc., SAP SE, SAS Institute Inc., and Tata Consultancy Services Ltd.
Also, the artificial intelligence platforms market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Artificial intelligence platform is a service that uses a software framework and a hardware architecture to build intelligent applications. artificial intelligence platforms market analysis considers sales from on-premises and cloud-based deployment. Our analysis also considers the sales of artificial intelligence platforms in APAC, Europe, North America, South America, and MEA. In 2018, the on-premises segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as rising focus on handling critical business data and risk management strategies will play a significant role in the on-premises segment to maintain its market position. Also, our global artificial intelligence platforms market report looks at factors such as the rising demand for AI-based solutions, increasing investments in R&D for AI technology, and rise in demand for cloud-based AI solutions. However, data privacy issues, vendor lock-in issues in AI platforms, and need for regulatory compliance may hamper the growth of the artificial intelligence platforms industry over the forecast period.
Global Artificial Intelligence Platforms Market: Overview
Increasing investments in R&D for AI technology
Government bodies and enterprises are making efforts to stay ahead in the competition by developing AI-based platforms. In addition, the demand for AI technology is increasing due to the increase in number of start-ups and investments by major vendors. For instance, Germany launched its digital strategy on AI called “AI Made in Germany” to fuel the economic and technological growth in the country. Several firms are adopting AI bots, virtual assistants, digital payment advisers, and biometric fraud detection mechanisms to track consumer behavior and enhance their compliance with regulatory systems. This increasing investments in R&D for AI technology will lead to the expansion of the global artificial intelligence platforms market at a CAGR of over 28% during the forecast period.
Increasing convergence of AI with IoT and Blockchain
Organizations are increasingly trying to mitigate the risks and limitations associated with platforms through the convergence of AI with IoT and Blockchain. The resultant new platforms use AI algorithms, IoT systems, and Blockchain technology to produce, process, and secure the data. The use of such platforms helps the organizations to improve their compliance with regulatory systems by tracking their consumer behavior. This is encouraging enterprises and government bodies to invest in AI, which is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global artificial intelligence platforms market during the forecast period 2019-2023, click here.
Competitive Landscape
With the presence of several major players, the global artificial intelligence platforms market is fragmented. Robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading artificial intelligence platforms manufacturers, that include Alibaba Cloud, Amazon Web Services Inc., Google LLC, IBM Corp., Microsoft Corp., Palantir Technologies Inc., Salesforce.com Inc., SAP SE, SAS Institute Inc., and Tata Consultancy Services Ltd.
Also, the artificial intelligence platforms market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
