Published Date: 30-Aug-2023
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According to a new report, published by KBV research, 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.
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 appeal of no-code AI platforms is that they make AI development more accessible to everyone and make it possible for businesses and individuals to employ AI capabilities without having to have a lot of specialized knowledge. For those who lack programming knowledge but wish to use AI technology, no-code AI tools remove the entry hurdle. The creation of AI models and apps is made simple by their user-friendly interface as well as drag-and-drop capabilities.
The Computer Vision segment is showcasing a CAGR of 26.3% during (2023 - 2030). The segment's capacity for understanding and interpreting visual information, such as pictures and movies, is one reason it is expanding. Integrating computer vision with no-code AI platforms enables users to create applications to evaluate and extract valuable information from visual content. This makes it possible to do operations like object detection, image-based search, and image recognition without writing much code.
The Large Enterprises segment acquired the highest revenue share in the Global No-code AI Platform Market by Enterprise Size in 2022, thereby achieving a market value of $12.6 billion by 2030. To give a quantitative understanding of their operations, the market is expanding the deployment of data science and Al technologies across large organizations. Processes that interface with ERP and CRM systems are automated using no-code AI in specific departments of larger enterprises. No-code AI platforms aid in removing the challenge that exists among corporate processes, enhancing operational effectiveness, reducing expenses, and generating more reliable results.
The Cloud segment has shown a high growth rate of 27.7% during (2023 - 2030). Data and apps are accessible through cloud services from any location with an internet connection because of centralized storage. Users can store data, models, and apps in the cloud, making them readily available to collaborators and users. Real-time updates, as well as version control among many team members, encourage fluid communication. This new generative AI feature is for Google's cloud platform. With the help of the new tool, programmers may build generative AI apps without learning many complex codes or machine learning techniques.
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. IT departments may automate a range of administrative chores with no-code AI platforms. Log analysis, monitoring infrastructure, and incident management are all made easier by these systems. Artificial intelligence (AI) models created on no-code platforms can predict network congestion, identify potential improvement areas, and suggest optimization tactics by examining network data and pattern analysis.
The North America region dominated the Global No-code AI Platform Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.6 billion by 2030. The Europe region is expected to witness a CAGR of 25.4% during (2023 - 2030). Additionally, The Asia Pacific region is expected to witness a CAGR of 26.9% during (2023 - 2030).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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 Enterprise Size
By Deployment Type
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