The North America No-code AI Platform Market would witness market growth of 25.1% CAGR during the forecast period (2023-2030).
No-code AI platforms help users develop and deploy AI models without having to fully understand the inner workings of complex algorithms, making AI readily available and inexpensive for organizations that lack the resources and technological know-how required for solutions involving advanced coding skills. Additionally, as the platforms are frequently cloud-based, worries about installation, maintenance, and other administration issues are also eliminated.
Large IT firms like Amazon, Google, IBM, and Microsoft were among the first to provide AI capabilities as-a-service, but smaller firms quickly followed suit, leading to a proliferation of AI service options. The development of big data, increased productivity, scattered application areas, the accessibility of significant government funding, and improvements in voice and image recognition technologies are the key drivers of market growth on the supply side.
Many organizations in the USA offer cutting-edge AI services and solutions for developing mobile and desktop applications for businesses, automating operations, and automating communication. In the USA, numerous technological firms, including IBM, Microsoft, Neuralink, and Google, apply AI for various purposes. America has long been a pioneer in AI research and development (R&D), which has led to the development of cutting-edge, game-changing technologies that are enhancing people's lives, fostering the growth of innovative industries, enabling workers, and boosting national security. In view of this, AI associated budgets have seen an increase across various agencies. For example, the budget crosscut for Networking and Information Technology Research and Development (NITRD) has gone from $7.8 billion to $9.6 billion in FY 2022 to FY 2023.
Additionally, AI applications and use cases are increasing in Canada as well. The Canadian Ministry of Innovation, Science and Industry invested over $124 million at the University of Montréal for the R3AI: Shifting Paradigms for a Robust, Reasoning, and Responsible Artificial Intelligence project. It also focused on its Adoption initiative through the Canada First Research Excellence Fund (CFR). This cash is a portion of a $1.4 billion investment to support 11 major research projects. With this investment, Canadian university researchers can draw in funding and top-tier talent while using the strengths of their particular study areas. The necessity to embrace and develop new technology has hastened Canada's digital revolution, which was already underway before the pandemic. Canada is making major investments in AI. As a result, this region offers the market profitable growth opportunities for the entire projection period.
The US market dominated the North America No-code AI Platform Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,730.6 million by 2030. The Canada market is showcasing a CAGR of 27.9% during (2023 - 2030). Additionally, The Mexico market would register a CAGR of 26.8% during (2023 - 2030).
Based on Component, the market is segmented into Platform (Without Services) and Services. Based on Technology, the market is segmented into Natural Language Processing, Computer Vision, Predictive Analytics, and Others. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on End-use, the market is segmented into Telecom & IT, BFSI, Retail & E-Commerce, Healthcare & Lifesciences, Government, Energy & Utilities and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide No-code AI Platform Market is Projected to reach USD 17.5 Billion by 2030, at a CAGR of 25.9%
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.
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