The ai toolkit market size is expected to see exponential growth in the next few years. It will grow to $91.24 billion in 2028 at a compound annual growth rate (CAGR) of 33.0%. The growth in the forecast period can be attributed to the rise of open source initiatives, rise of cloud computing, increasing awareness and education, rise of ai startups, increasing ai in healthcare. Major trends in the forecast period include integration of explainable ai (xai),advancements in natural language processing (nlp) tools, integration of hybrid cloud ai solutions, demand on ai ethics and responsible ai,increased adoption of automl..
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Scope Of AI Toolkit Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
AI Toolkit Market Overview
Market Drivers –
The growing number of cyber security threats is expected to propel the growth of the AI toolkit market going forward. Cyber security threats refer to malicious activities, actions, or potential events that aim to compromise the confidentiality, integrity, or availability of computer systems, networks, and data. The increasing cyber security threats drive the need for advanced security measures and AI toolkits play a vital role in providing the technology and tools necessary to develop innovative and effective cyber security solutions. For instance, in April 2023, according to the Government Digital Service, a UK-based government body, cybercrime affected 11% of businesses and 8% of charities in total over the past 12 months, this number increased to 26% of medium-sized businesses, 37% of large businesses, and 25% of high-income charities. Therefore, the growing number of cyber security threats is driving the growth of the AI toolkit market.
Market Trends –
Major companies operating in the AI toolkit market are focusing on generative AI toolkit to increase their profitability in the market. A generative AI toolkit refers to a comprehensive set of software tools and resources designed to harness the capabilities of generative artificial intelligence (AI) for various applications within the accounting and financial domains. For instance, in October 2023, CPA.com, a US-based company specializing in accounting profession, launched a Generative AI Toolkit for the accounting profession. The toolkit encompasses educational insights, a downloadable toolkit, use-case tutorials, a security checklist, a GenAI glossary and learning opportunities. Its objective is to furnish a strategic 7-step plan for crafting a customized AI strategy while fostering awareness and education through thought leadership resources. This toolkit forms an integral component of CPA.com’s multifaceted initiative, empowering accounting and finance professionals to adeptly navigate the influence of technology on their business models.
The ai toolkit market covered in this report is segmented –
1) By Offering: Software, Hardware, Services
2) By Technology: Natural Lanaguage Processing, Machine Learning, Computer Vision, Robotic Process Automation
3) By Vertical: Banking, Financial Services and Insurance (BFSI), Retail and eCommerce, Healthcare and Life Science, Manufacturing, Telecom, Information Technology, Media and Entertainment, Energy and Utilities, Other Verticals
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Regional Insights –
North America was the largest region in the AI toolkit market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the ai toolkit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the ai toolkit market report are Google LLC, Meta Platforms, AWS, Intel Corporation, IBM , Oracle, HPE, NVIDIA Corporation, Sales Force, Thales group, Adobe, DataRobot, OpenAI, Altair, Alteryx, Jasper, KNIME, Rasa, Union AI, Regie.AI, Super Annotate, Fiddler AI, Obviously AI, Determined AI, H2O.ai, Attri AI
Table of Contents
1. Executive Summary
2. AI Toolkit Market Report Structure
3. AI Toolkit Market Trends And Strategies
4. AI Toolkit Market – Macro Economic Scenario
5. AI Toolkit Market Size And Growth
…..
27. AI Toolkit Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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