Artificial Intelligence Software Platform Market Poised for Exponential Growth, Expected Reach $195.99 Billion by 2028

The Business Research Company's Artificial Intelligence Software Platform Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 17, 2024 /EINPresswire.com/ -- The artificial intelligence software platform market is experiencing rapid expansion, driven by the increasing demand for automation, growth in big data, and the adoption of cloud computing. This market is projected to grow from $43.85 billion in 2023 to $59.10 billion in 2024, at a compound annual growth rate (CAGR) of 34.8%. By 2028, it is expected to reach $195.99 billion, with a CAGR of 34.9%.

Rising Demand for AI-driven Automation and Augmentation Fuels Market Growth
The rising demand for AI-driven automation and augmentation is a significant driver of market growth. Organizations across industries are increasingly leveraging AI technologies to streamline processes, improve decision-making, and enhance customer experiences. The adoption of AI in autonomous vehicles, smart transportation systems, cybersecurity, and personalized customer experiences is propelling market expansion.

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Key Players and Market Trends
Major companies in the market, including Google, Microsoft, and Amazon Web Services, are focusing on developing advanced technological solutions such as generative AI software platforms. These platforms enable the creation of AI models capable of generating new content based on patterns learned from existing data. Generative AI platforms are being used to augment data sets, generate synthetic content, and enable AI applications in scenarios with limited data.
In a strategic move, SparkCognition Inc. launched the first Generative AI Platform for the industrial sector in March 2023. This platform enables organizations to leverage AI even when data sets are limited, providing the capability to augment sensors and generate insights faster and at significantly lower costs.

Segments Driving Market Growth
The artificial intelligence software platform market covered in this report is segmented –
1) By Component: Tools, Services
2) By Technology: Computer Vision, Data Analytics, Machine Learning, Natural Language Processing, Other Technologies
3) By Application: Automation, Remote Sensing, Medical Diagnosis, Speech Recognition, Text Recognition, Other Applications
4) By Industry: Banking, Financial Services And Insurance (BFSI), Manufacturing, Healthcare, Transportation, Retail, Other Industries

Geographical Insights: Asia-Pacific Emerging as a Key Market
Asia-Pacific led the artificial intelligence software platform market in 2023 and is expected to be the fastest-growing region. The comprehensive report provides detailed insights into regional dynamics, market trends, and growth opportunities.

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Artificial Intelligence Software Platform Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Artificial Intelligence Software Platform Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on artificial intelligence software platform market size, artificial intelligence software platform market drivers and trends, artificial intelligence software platform market major players, competitors' revenues, market positioning, and market growth across geographies. The artificial intelligence software platform market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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