Artificial Intelligence (AI) Software Platform Market Research Report - Global Forecast 2027

Artificial Intelligence Software Platform Market Research, By Component (Solution- Machine Learning, Natural Language Processing, Others; Services), Deployment (On-Premise, On-Cloud), Vertical (Automotive, Retail, Healthcare) – Global Forecast till 2027

ID: MRFR/ICT/5842-HCR | February 2021 | Region: Global | 100 pages

Market Overview 


The global artificial intelligence (AI) software platform market is growing at a CAGR of 28.1% for the forecast period of 2020 to 2027. Various new applications in different industries for artificial intelligence technology are creating new avenues for the market. Different countries in the world are adopting the technology for enhancement in their business enterprises, workforces, etc. The massive use of AI software can be observed in the retail, automotive, and IT industries. The rapid growth of smart devices in the global market is a steady factor behind the expansion of the AI software market. 


The artificial intelligence software platform (AISP) is created for entering artificially developed intelligence to execute learning, analyzing, problem-solving, decision-making, etc tasks. This kind of intelligence is considered equivalent to human intelligence which can increase over time and the constant flow of data. Innovation in Big Data technology is supporting the growth of AI-driven software platforms in the global market. Applications like machine learning (ML), natural language processing (NLP), etc are capable of running complex simulations, identifying patterns, recognize user requirements, analyzing, and much more. The AISP market is estimated to experience tremendous growth in the coming years.      


COVID-19 Analysis 


The emergence of the COVID-19 pandemic is considered a once-in-a-century disaster by experts. Several Governments of the world have recognized the pandemic as the biggest global crisis and tragedy of all times. The fatality of the situation did not allow the lives of normal people to stay normal. Forced implementation of nationwide lockdowns in almost all countries was a needful measure to curb the spread of the disease. On the other hand, these lockdowns have stopped the markets completely for months. It is anticipated that the global artificial intelligence (AI) software platform market has faced implications of the pandemic too.


During the lockdowns, the manufacturing units were interrupted as the workers and staff were unavailable during the period. Cross-border transportation and travel have become more restricted in several parts of the world. These disruptions in the business scenario have brutal effects on the economy. The situation forced the market to reduce investments in research and development (R&D) in technological sectors. The artificial intelligence (AI) software platform industry is highly dependent on the ongoing R&D functions in the market. Although, during the lockdown, several companies have turned the business operations into complete remote settings. This trend is expected to increase the usage of AI facilities more in the future.   


Market Dynamics 



  • Drivers


There is a growing trend of adopting AI capabilities in the workstream of several industries. The need for automation, speed, and smart application is a crucial reason behind the market demand for AI technology. AI software platforms enable multiple facilities that improve the user experience, enhances business operations, and communication. The artificial intelligence (AI) software platform market is increasing based on rapid modernization and development in operational methods of the world. Repetitive human jobs can be taken care of in cost-effective methods with the help of artificial intelligence software platforms. The AI software is capable of predicting various key insights, detecting errors, automate the functionality in the workflow. The use of AI is cost-effective for end-user industries to operate different functionalities within the business stream. 


AI software assistants are capable of handling customer communication and robotics functions in the industry to enhance the work process. There is a steady demand for AI software platforms for automation and customer assistance capabilities over the years. The AI market is expected to grow further with help of new technologies.        



  • Opportunities


Two of the major influences on AI software platforms are cloud computing and big data. The AI software needs and generates huge amounts of data for analyzing and creating suggestions. In this arena, improvements in the cloud-storage services and industries are going to create new options for the market. Also, big data management is expected to grow in the future too. Innovation in the internet of things (IoT) has been a boon for the AI software platforms market. Current market statistics show there are over 8.74 billion IoT devices in the market in 2020, which is going to be triple in number in the next ten years. The artificial intelligence (AI) software platform market size is going to increase with the support of a huge number of connected devices in the market. 


Additionally, the improvements of 5G technology are going to present new opportunities for the market. The majority of the AI software platform is connected with cloud services and uses the internet to execute operational tasks. High-speed internet availability in the market will create new possibilities for virtual assistance and robotics as well. The artificial intelligence (AI) software platform market analysis predicts massive growth of the system in the coming ten years.    



  • Restraints


The AI software platform is dependent on development, maintenance, and servicing. The software is smart and has additional intelligence, but the qualities cannot be called creative or inventive. Hence there will be a constant need for highly qualified robotics and AI software specialists and experts to manage the systems. In the current scenario, there is a significant lack of trained and skilled AI developers and experts in the market. This factor is a major obstacle before the growth of artificial intelligence (AI) software platform market share. The software for AI is considered very complicated in the industry which requires advanced knowledge and skill to operate. 


Additionally, the cost of AI software implementation and maintenance is expensive. Various potential markets in the world are not moving forward at the desired pace owing to the affordability issue. The AI software makes the work process easier and enhanced, but the deployment costs are quite high, especially for SMEs. Also, the unavailability of necessary infrastructure in different markets is causing slower growth. Based on current forecasts, this unpreparedness factor is going to persist in a large section of the global Artificial Intelligence (AI) Software Platform market during the forecast period.  



  • Challenges 


The AI software platform presents new and effective solutions, but it is limited in certain areas too. Put aside the cost of custom-creating infrastructure, the system cannot entirely replace the contribution of human employees and intelligence. For instance, AI software is not creative. The intelligence in the system is artificially created and machine learning is an advanced outcome of the system. But the AI software is incapable of executing tasks that require producing something original or something that demands the use of creative faculties.


Also, there is a growing concern over the accuracy of the solutions produced by AI software platforms. This automated program relies on data that is inserted into the system. Although advanced AI algorithms do not make trivial errors, still the program is not 100% accurate all the time. Several factors can cause an errored result out of the system. These factors can be a threat to the global artificial intelligence (AI) software platform business.      



  • Cumulative Growth Analysis


In 2017, the global Artificial Intelligence (AI) Software Platform market reached USD 2.45 billion. The overall performance of the AI software platform market has been optimistic for the last couple of years. Current projections state the market is growing at a CAGR of 28.1% for the forecast period 2020 to 2027. The market is going to reach a net valuation of USD 11.3 billion by the end of 2027 according to market estimates.   



  • Value Chain Analysis


The distribution channel for AI software platforms relies on the demands of the end-user markets. The developing giant corporations form strategic partnerships, third-party acquisitions, retailing, etc. The system reaches the markets via custom development and online purchases.  


Segment Overview


Based on component, deployment, industry vertical, region, etc, there are different artificial intelligence (AI) software platform market segments. 


By component 



  • Solution – Machine Learning, Natural Language Processing, Others

  • Services 


By deployment 



  • On-premise 

  • Cloud


By industry vertical



  • Retail and eCommerce 

  • Automotive and transportation 

  • BFSI 

  • IT and telecommunication

  • Healthcare and Pharmaceutical 

  • Industrial Automation

  • Manufacturing 

  • Others


By region   



  • North America 

  • Europe

  • Asia Pacific (APAC)

  • Rest of the world  


Regional Analysis 


Owing to technological advancements, the North American region occupies the largest market share in the world for AISP. Amongst the major key players in the world, the US captures almost 80% of the developer companies. Although, the European wealthy nations consist of the biggest market size for the forecast period. The APAC region is expected to gain momentum in coming years followed by rapid technological growth in China, Japan, India, etc.  


Competitive Landscape


The global artificial intelligence (AI) software platform market top players are – 



  • IBM (US)



  •  Intel (US)

  • Microsoft (US)

  • Nvidia (US)

  • Google (US)

  • Amazon Web Services (US)

  • Infosys (India)

  • H2O.ai (US)


Recent Developments



  • IBM Inc has made improvements on their Watson technology in 2020 to increase the scalability of the solution for businesses to use AI efficiently.

  • Facebook AI has launched its dynamic benchmarking machine learning platform called Dynabench in 2020. This solution improves the current benchmarking facilities using diverse data collection methods.    


Report Description 


The report consists of insights on artificial intelligence (AI) software platform market trends, growth statistics, forecasts, segments, etc.


Report period



  • Historic: 2017

  • Base: 2020

  • Forecast: 2027


Report demography 



  • North America 

  • Europe 

  • APAC



Frequently Asked Questions (FAQ) :

The AI software platform market can thrive at 28.1 % CAGR by 2027.

The AI software platform market can value at USD 11.3 Bn by 2023.

In 2017, the AI software platform market was valued at 2.7 Bn.

Salesforce (US), Qualcomm (US), and Playment (US) are some reputed names in the AI software platform market.

The Europe AI software platform market can valuation can escalate in the years to come.

TABLE OF CONTENTS

1 Executive Summary

2 Scope of the Report

2.1 Market Definition

2.2 Scope of the Study

2.3 Research Objectives

2.4 Markets Structure

3 Research Methodology

4 Market Dynamics

4.1 Market Drivers

4.1.1 Increase in investment in R&D of AI Technology

4.1.2 Advances in Deep Neural Networks

4.2 Market Restraints

4.2.1 Limited AI Expertise

4.3 Market Opportunities

4.3.1 Increasing Verticals of AI

4.3.2 Need of “Intelligent” Business Activities

4.4 Market Challenges

4.4.1 Concerns regarding Data Privacy

4.5 Porter’s Five Forces Analysis

4.5.1 Threat of New Entrants

4.5.2 Bargaining Power of Buyers

4.5.3 Threat of Substitutes

4.5.4 Segment Rivalry

4.5.5 Bargaining Power of Suppliers

4.6 Government/Industry Norms and Regulations

5 Global AI Software Platform Market by Component

5.1 Introduction

5.2 Solution

5.2.1 Market Estimates & Forecast, 2020–2027

5.2.2 Market Estimates & Forecast by Region, 2020–2027

5.2.3 Machine Learning

5.2.3.1 Market Estimates & Forecast, 2020–2027

5.2.3.2 Market Estimates & Forecast by Region, 2020–2027

5.2.4 Natural Language Processing

5.2.4.1 Market Estimates & Forecast, 2020–2027

5.2.4.2 Market Estimates & Forecast by Region, 2020–2027

5.2.5 Others

5.2.5.1 Market Estimates & Forecast, 2020–2027

5.2.5.2 Market Estimates & Forecast by Region, 2020–2027

5.3 Services

5.3.1 Market Estimates & Forecast, 2020–2027

5.3.2 Market Estimates & Forecast by Region, 2020–2027

6 Global AI Software Platform Market by Deployment

6.1 Introduction

6.2 On-Premise

6.2.1 Market Estimates & Forecast, 2020–2027

6.2.2 Market Estimates & Forecast by Region, 2020–2027

6.3 On-Cloud

6.3.1 Market Estimates & Forecast, 2020–2027

6.3.2 Market Estimates & Forecast by Region, 2020–2027

7 Global AI Software Platform Market by Vertical

7.1 Introduction

7.2 Retail and ECommerce

7.2.1 Market Estimates & Forecast, 2020–2027

7.2.2 Market Estimates & Forecast by Region, 2020–2027

7.3 Transportation and Automotive

7.3.1 Market Estimates & Forecast, 2020–2027

7.3.2 Market Estimates & Forecast by Region, 2020–2027

7.4 BFSI

7.4.1 Market Estimates & Forecast, 2020–2027

7.4.2 Market Estimates & Forecast by Region, 2020–2027

7.5 Healthcare and Pharmaceutical

7.5.1 Market Estimates & Forecast, 2020–2027

7.5.2 Market Estimates & Forecast by Region, 2020–2027

7.6 Industrial Automation and Manufacturing

7.6.1 Market Estimates & Forecast, 2020–2027

7.6.2 Market Estimates & Forecast by Region, 2020–2027

7.7 IT & Telecommunication

7.7.1 Market Estimates & Forecast, 2020–2027

7.7.2 Market Estimates & Forecast by Region, 2020–2027

7.8 Others

7.8.1 Market Estimates & Forecast, 2020–2027

7.8.2 Market Estimates & Forecast by Region, 2020–2027

8 Global AI Software Platform Market by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast by Country, 2020–2027

8.2.2 Market Estimates & Forecast by Component, 2020–2027

8.2.3 Market Estimates & Forecast by Deployment, 2020–2027

8.2.4 Market Estimates & Forecast by Vertical, 2020–2027

8.2.5 US

8.2.5.1 Market Estimates & Forecast by Component, 2020–2027

8.2.5.2 Market Estimates & Forecast by Deployment, 2020–2027

8.2.5.3 Market Estimates & Forecast by Vertical, 2020–2027

8.2.6 Mexico

8.2.6.1 Market Estimates & Forecast by Component, 2020–2027

8.2.6.2 Market Estimates & Forecast by Deployment, 2020–2027

8.2.6.3 Market Estimates & Forecast by Vertical, 2020–2027

8.2.7 Canada

8.2.7.1 Market Estimates & Forecast by Component, 2020–2027

8.2.7.2 Market Estimates & Forecast by Deployment, 2020–2027

8.2.7.3 Market Estimates & Forecast by Vertical, 2020–2027

8.3 Europe

8.3.1 Market Estimates & Forecast by Country, 2020–2027

8.3.2 Market Estimates & Forecast by Component, 2020–2027

8.3.3 Market Estimates & Forecast by Deployment, 2020–2027

8.3.4 Market Estimates & Forecast by Vertical, 2020–2027

8.3.5 Germany

8.3.5.1 Market Estimates & Forecast by Component, 2020–2027

8.3.5.2 Market Estimates & Forecast by Deployment, 2020–2027

8.3.5.3 Market Estimates & Forecast by Vertical, 2020–2027

8.3.6 France

8.3.6.1 Market Estimates & Forecast by Component, 2020–2027

8.3.6.2 Market Estimates & Forecast by Deployment, 2020–2027

8.3.6.3 Market Estimates & Forecast by Vertical, 2020–2027

8.3.7 Italy

8.3.7.1 Market Estimates & Forecast by Component, 2020–2027

8.3.7.2 Market Estimates & Forecast by Deployment, 2020–2027

8.3.7.3 Market Estimates & Forecast by Vertical, 2020–2027

8.3.8 Russia

8.3.8.1 Market Estimates & Forecast by Component, 2020–2027

8.3.8.2 Market Estimates & Forecast by Deployment, 2020–2027

8.3.8.3 Market Estimates & Forecast by Vertical, 2020–2027

8.3.9 UK

8.3.9.1 Market Estimates & Forecast by Component, 2020–2027

8.3.9.2 Market Estimates & Forecast by Deployment, 2020–2027

8.3.9.3 Market Estimates & Forecast by Vertical, 2020–2027

8.3.10 Rest of Europe

8.3.10.1 Market Estimates & Forecast by Component, 2020–2027

8.3.10.2 Market Estimates & Forecast by Deployment, 2020–2027

8.3.10.3 Market Estimates & Forecast by Vertical, 2020–2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast by Country, 2020–2027

8.4.1.1 Market Estimates & Forecast by Component, 2020–2027

8.4.1.2 Market Estimates & Forecast by Deployment, 2020–2027

8.4.1.3 Market Estimates & Forecast by Vertical, 2020–2027

8.4.2 China

8.4.2.1 Market Estimates & Forecast by Component, 2020–2027

8.4.2.2 Market Estimates & Forecast by Deployment, 2020–2027

8.4.2.3 Market Estimates & Forecast by Vertical, 2020–2027

8.4.3 India

8.4.3.1 Market Estimates & Forecast by Component, 2020–2027

8.4.3.2 Market Estimates & Forecast by Deployment, 2020–2027

8.4.3.3 Market Estimates & Forecast by Vertical, 2020–2027

8.4.4 Japan

8.4.4.1 Market Estimates & Forecast by Component, 2020–2027

8.4.4.2 Market Estimates & Forecast by Deployment, 2020–2027

8.4.4.3 Market Estimates & Forecast by Vertical, 2020–2027

8.4.5 South Korea

8.4.5.1 Market Estimates & Forecast by Component, 2020–2027

8.4.5.2 Market Estimates & Forecast by Deployment, 2020–2027

8.4.5.3 Market Estimates & Forecast by Vertical, 2020–2027

8.4.6 Rest of Asia-Pacific

8.4.6.1 Market Estimates & Forecast by Component, 2020–2027

8.4.6.2 Market Estimates & Forecast by Deployment, 2020–2027

8.4.6.3 Market Estimates & Forecast by Vertical, 2020–2027

8.5 Rest of the World

8.5.1 Market Estimates & Forecast by Country, 2020–2027

8.5.2 Market Estimates & Forecast by Component, 2020–2027

8.5.3 Market Estimates & Forecast by Deployment, 2020–2027

8.5.4 Market Estimates & Forecast by Vertical, 2020–2027

8.5.5 Middle East & Africa

8.5.5.1 Market Estimates & Forecast by Component, 2020–2027

8.5.5.2 Market Estimates & Forecast by Deployment, 2020–2027

8.5.5.3 Market Estimates & Forecast by Vertical, 2020–2027

8.5.6 South America

8.5.6.1 Market Estimates & Forecast by Component, 2020–2027

8.5.6.2 Market Estimates & Forecast by Deployment, 2020–2027

8.5.6.3 Market Estimates & Forecast by Vertical, 2020–2027

9 Competitive Landscape

9.1 Key Players Market Share Analysis, 2020/2020 (%)

9.2 Competitive Benchmarking

9.3 Key Developments Analysis, 2020/2020

9.3.1 Mergers & Acquisition

9.3.2 Product Developments

9.3.3 Business Expansion

9.3.4 Partnerships & Collaborations

9.3.5 Agreements

10 Company Profiles

10.1 Google

10.1.1 Company Overview

10.1.2 Product/Business Segment Overview

10.1.3 Financial Updates

10.1.4 Key Developments

10.1.5 SWOT Analysis

10.1.6 Key Strategy

10.2 Intel

10.2.1 Company Overview

10.2.2 Product/Business Segment Overview

10.2.3 Financial Updates

10.2.4 Key Developments

10.2.5 SWOT Analysis

10.2.6 Key Strategy

10.3 Microsoft

10.3.1 Company Overview

10.3.2 Product/Business Segment Overview

10.3.3 Financial Updates

10.3.4 Key Developments

10.3.5 SWOT Analysis

10.3.6 Key Strategy

10.4 IBM

10.4.1 Company Overview

10.4.2 Product/Business Segment Overview

10.4.3 Financial Updates

10.4.4 Key Developments

10.4.5 SWOT Analysis

10.4.6 Key Strategy

10.5 SAP

10.5.1 Company Overview

10.5.2 Product/Business Segment Overview

10.5.3 Financial Updates

10.5.4 Key Developments

10.5.5 SWOT Analysis

10.5.6 Key Strategy

10.6 Amazon Web Services

10.6.1 Company Overview

10.6.2 Product/Business Segment Overview

10.6.3 Financial Updates

10.6.4 Key Developments

10.6.5 SWOT Analysis

10.6.6 Key Strategy

10.7 Wipro

10.7.1 Company Overview

10.7.2 Product/Business Segment Overview

10.7.3 Financial Updates

10.7.4 Key Developments

10.7.5 SWOT Analysis

10.7.6 Key Strategy

10.8 Infosys

10.8.1 Company Overview

10.8.2 Product/Business Segment Overview

10.8.3 Financial Updates

10.8.4 Key Developments

10.8.5 SWOT Analysis

10.8.6 Key Strategy

10.9 Ayasdi

10.9.1 Company Overview

10.9.2 Product/Business Segment Overview

10.9.3 Financial Updates

10.9.4 Key Developments

10.9.5 SWOT Analysis

10.9.6 Key Strategy

10.10 Qualcomm

10.10.1 Company Overview

10.10.2 Product/Business Segment Overview

10.10.3 Financial Updates

10.10.4 Key Developments

10.10.5 SWOT Analysis

10.10.6 Key Strategy

10.11 Salesforce

10.11.1 Company Overview

10.11.2 Product/Business Segment Overview

10.11.3 Financial Updates

10.11.4 Key Developments

10.11.5 SWOT Analysis

10.11.6 Key Strategy

10.12 Playment

10.12.1 Company Overview

10.12.2 Product/Business Segment Overview

10.12.3 Financial Updates

10.12.4 Key Developments

10.12.5 SWOT Analysis

10.12.6 Key Strategy

10.13 Nvidia

10.13.1 Company Overview

10.13.2 Product/Business Segment Overview

10.13.3 Financial Updates

10.13.4 Key Developments

10.13.5 SWOT Analysis

10.13.6 Key Strategy

10.14 H2O.ai.

10.14.1 Company Overview

10.14.2 Product/Business Segment Overview

10.14.3 Financial Updates

10.14.4 Key Developments

10.14.5 SWOT Analysis

10.14.6 Key Strategy

10.15 Infrrd Inc.

10.15.1 Company Overview

10.15.2 Product/Business Segment Overview

10.15.3 Financial Updates

10.15.4 Key Developments

10.15.5 SWOT Analysis

10.15.6 Key Strategy

11 Conclusion/Recommendations

 

LIST OF TABLES

Table 1 Global AI Software Platform Market, by Region, 2020–2027

Table 2 North America: Global AI Software Platform Market, by Country, 2020–2027

Table 3 Europe: Global AI Software Platform Market, by Country, 2020–2027

Table 4 Asia-Pacific: Global AI Software Platform Market, by Country, 2020–2027

Table 5 Rest of the World: Global AI Software Platform Market, by Country, 2020–2027

Table 6 North America: Global AI Software Platform Component Market, by Country, 2020–2027

Table 7 Europe: Global AI Software Platform Component Market, by Country, 2020–2027

Table 8 Asia-Pacific: Global AI Software Platform Component Market, by Country, 2020–2027

Table 9 Rest of the World: Global AI Software Platform Component Market, by Country, 2020–2027

Table 10 Global AI Software Platform Component Market, by Region, 2020–2027

Table 11 North America: Global AI Software Platform Component Market, by Country, 2020–2027

Table 12 Europe: Global AI Software Platform Component Market, by Country, 2020–2027

Table 13 Asia-Pacific: Global AI Software Platform Component Market, by Country, 2020–2027

Table 14 Rest of the World: Global AI Software Platform Component Market, by Country, 2020–2027

Table 15 Global AI Software Platform Deployment Market, by Region, 2020–2027

Table 16 North America: Global AI Software Platform Deployment Market, by Country, 2020–2027

Table 17 Europe: Global AI Software Platform Deployment Market, by Country, 2020–2027

Table 18 Asia-Pacific: Global AI Software Platform Deployment Market, by Country, 2020–2027

Table 19 Rest of the World: Global AI Software Platform Deployment Market, by Country, 2020–2027

Table 20 Global AI Software Platform Verticals Market, by Region, 2020–2027

Table 21 North America: Global AI Software Platform Verticals Market, by Country, 2020–2027

Table 22 Europe: Global AI Software Platform Verticals Market, by Country, 2020–2027

Table 23 Asia-Pacific: Global AI Software Platform Verticals Market, by Country, 2020–2027

Table 24 Rest of the World: Global AI Software Platform Verticals Market, by Country, 2020–2027

 

LIST OF FIGURES

FIGURE 1 Global AI Software Platform Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis of Global AI Software Platform Market

FIGURE 4 Value Chain/supply chain of Global AI Software Platform Market

FIGURE 5 Share of Global AI Software Platform Market in 2020, by Country (in %)

FIGURE 6 Global AI Software Platform Market, 2020–2027

FIGURE 7 Sub-segments of Component

FIGURE 8 Global AI Software Platform Market Size, by Component, 2020

FIGURE 9 Share of Global AI Software Platform Market, by Component, 2020 to 2027

FIGURE 10 Global AI Software Platform Market Size, by Component, 2020

FIGURE 11 Share of Global AI Software Platform Market, by Component, 2020 to 2027

FIGURE 12 Global AI Software Platform Market Size, by Deployment, 2020

FIGURE 13 Share of Global AI Software Platform Market, by Deployment, 2020 to 2027

FIGURE 12 Global AI Software Platform Market Size, by Verticals, 2020

FIGURE 13 Share of Global AI Software Platform Market, by Verticals, 2020 to 2027