The Global No-code AI Platform Market size is expected to reach $17.5 billion by 2030, rising at a market growth of 25.9% CAGR during the forecast period.
Many end-user businesses can now use cloud-based apps due to the growing use of cloud computing services. Because of cloud computing's inherent advantages, scalability, and high resource availability, businesses embrace cloud-based solutions. Hence, the cloud segment would generate approximately 1/2nd share of the market by 2030. It hastens the adoption of cloud-based applications by utilizing a service paradigm. Public cloud services spending increased from $220 billion in 2016 to $411 billion in 2021, according to the Financial Services Sector's Adoption of Cloud Services report by the U.S. Department of the Treasury. Furthermore, it is predicted to increase to almost $600 billion in 2023. As a result, cloud-based applications are used more frequently, so too have the use prospects for no-code AI platforms. To deploy and train AI models, no-code AI systems frequently need a lot of computing power.
The major strategies followed by the market participants are Product Launches as the key developmental strategy to keep pace with the changing demands of end users. For example, In July, 2022, Clarifai, Inc. a free service developed to enable everyone to build, share, and use AI. Additionally, the service is developed on top of Clarifai's platform for the end-to-end AI lifecycle, which is strong enough for developers, reliable enough for data scientists, and simple enough for no-code business users. Additionally, In June, 2023, Amazon Web Services, a subsidiary of Amazon, launched dubbed AppFabric, the latest no-code offering. The launched product aims to lower operational expenses associated with constructing point-to-point solutions and to increase application observability to design SaaS integration for businesses.
Based on the Analysis presented in the KBV Cardinal matrix; Apple, Inc., Microsoft Corporation and Google, Inc. are the forerunners in the Market. In April, 2020, Microsoft released a beta version of Power Apps on mobile, for no-code application development. With mobile applications, anyone without knowledge of programming languages can easily and quickly assemble mobile business applications. The canvas and model development methods are both available in the mobile application. Companies such as Amazon.com, Inc., QuickBase, Inc. and DataRobot, Inc. are some of the key innovators in the Market.
Since the no-code AI platform enables organizations to employ AI to automate operations, they can accomplish more with less effort. AI platforms are frequently used in business use cases like recommending self-help materials to users by building chatbots depending on their sentiments. Businesses can now offer customer help without having to hire customer care staff. Moreover, artificial intelligence (AI) can be applied to e-commerce to anticipate fraud and identify questionable transactions. Artificial intelligence-based product recommendations for cross-selling and upselling goods to boost revenue can also be achieved with the help of no-code platforms.
Artificial intelligence (AI) and machine learning (ML) have been put into use in a variety of sectors and divisions during the last few years, including the human resources division of many businesses. These technologies are primarily used to automate a variety of operations and to build models and algorithms that provide real-time insights into a wide range of business-related variables. However, not every person in a company using AI platforms is knowledgeable about the development processes or has the required technical know-how. No-code AI platforms have been a crucial tool for enabling these people to communicate with and construct AI platforms for their job. Hence, more businesses now use no-code AI platforms, which is boosting the expansion of the market.
The lack of flexibility compared to traditional coding is maybe no-code AI's most severe flaw. When data scientists need to quickly modify their models in response to shifting business needs or fresh data, this restriction can be a major hindrance. Furthermore, the limited functionality of these tools can be difficult to create large models that effectively capture all the subtleties of data while using no-code AI because it provides a small fraction of the power offered by conventional coding languages. In addition to proving that the model is impartial, it is also difficult to justify decisions to stakeholders.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Product Launches and Product Expansions.
Based on component, the market is characterized into platforms (without services) and services. The services segment procured a considerable growth rate in the market in 2022. Professional, consulting, support, maintenance, and training & educational services are among the services that most providers offer. By allowing businesses to design, implement, and maintain machine learning models effectively, no-code AI services aid in the growth of organizations. Businesses can shorten the time to market, expand use cases, enhance operational efficiency, and promote collaboration by utilizing these services.
On the basis of technology, the market is classified into natural language processing, computer vision, predictive analytics, and others. The natural language processing (NLP) segment acquired the largest revenue share in the market in 2022. AI systems can comprehend and translate human language with the help of NLP. Users can create applications that comprehend user inputs and react to them naturally and intuitively by incorporating NLP into no-code AI platforms. This creates opportunities for developing language-based interfaces, chatbots, and virtual assistants without requiring intricate coding.
Based on enterprise size, the market is bifurcated into SMEs and large enterprises. The SMEs segment acquired a substantial revenue share in the market in 2022. No-code AI platforms are becoming increasingly valuable to SMEs as a way to boost growth and get an advantage over rivals in their markets. Employing specialist expertise and purchasing infrastructure are two common upfront costs associated with traditional AI development. Because they do not require considerable coding and rely less on highly skilled workers, no-code AI platforms provide a more affordable alternative. Without the requirement for dedicated software developers or data scientists, SMEs can use these platforms to create AI applications.
By deployment type, the market is divided into cloud and on-premise. The on-premise segment witnessed the maximum revenue share in the market in 2022. The many advantages that come with on-premises implementation, including high data security and safety, are responsible for the segment's expansion. The on-premise solution is preferred by businesses because it assures that data and models are secure and shielded from outside dangers by keeping them inside the data center of the company. Furthermore, with on-premise technology, businesses have more control over the machine learning pipeline, which can increase productivity and lower expenses.
On the basis of end-use, the market is segmented into BFSI, healthcare & life sciences, retail & e-commerce, IT & telecom, energy & utilities, government, and others. The BFSI segment witnessed a considerable growth rate in the market in 2022. BFSI businesses create virtual assistants and chatbots powered by AI to improve the client experience. These chatbots answer client questions, tailor recommendations, and support self-service alternatives. Natural language processing (NLP) tools make it simpler for BFSI companies to train these chatbots, enhancing client engagement and support.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 2.9 Billion |
| Market size forecast in 2030 | USD 17.5 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 25.9% from 2023 to 2030 |
| Number of Pages | 349 |
| Number of Table | 553 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Market Share Analysis, Competitive Landscape, Companies Strategic Developments, Company Profiling |
| Segments covered | Component, Technology, Enterprise Size, Deployment Type, End-use, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment witnessed a significant revenue share in the market in 2022. Many technology startups are launching in nations like India, Singapore, China, and South Korea, which is home to a vibrant startup ecosystem. Many of these startups have an AI focus and look for easily used tools to develop AI applications. These startups have an appealing option in the form of no-code AI platforms, which let them create AI apps without having to invest a lot of time and money in technical personnel.
Free Valuable Insights: Global No-code AI Platform Market size to reach USD 17.5 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Amazon.com, Inc., Google LLC (Alphabet Inc.), Microsoft Corporation, DataRobot, Inc., QuickBase, Inc., Akkio, Inc., Caspio, Inc., Clarifai, Inc., and Levity AI GmbH.
By Component
By Technology
By Enterprise Size
By Deployment Type
By End-use
By Geography
The Market size is projected to reach USD 17.5 billion by 2030.
Organizations urgently require task automation are driving the Market in coming years, however, Issues and constraints of no-code platforms restraints the growth of the Market.
Apple, Inc., Amazon.com, Inc., Google LLC (Alphabet Inc.), Microsoft Corporation, DataRobot, Inc., QuickBase, Inc., Akkio, Inc., Caspio, Inc., Clarifai, Inc., and Levity AI GmbH.
The Platform (Without Services) segment acquired the maximum revenue share in the Global No-code AI Platform Market by Component in 2022, thereby achieving a market value of $12.1 billion by 2030.
The Cloud segment has shown a high growth rate of 27.7% during (2023 - 2030).
The Telecom & IT segment is leading the highest revenue share in the Global No-code AI Platform Market by End-use in 2022, thereby achieving a market value of $4.0 billion by 2030.
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