No Code Artificial Intelligence (AI) Platform Market
The No Code Artificial Intelligence (AI) Platform Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s No Code Artificial Intelligence (AI) Platform Global Market Report 2024, The no code artificial intelligence (AI) platform market size has grown exponentially in recent years. It will grow from $4.34 billion in 2023 to $5.55 billion in 2024 at a compound annual growth rate (CAGR) of 27.8%. The growth in the historic period can be attributed to skill gap mitigation, rapid prototyping and development, democratization of ai, cost-efficiency, agile business requirements.
The no code artificial intelligence (AI) platform market size is expected to see exponential growth in the next few years. It will grow to $14.69 billion in 2028 at a compound annual growth rate (CAGR) of 27.6%. The growth in the forecast period can be attributed to ai adoption in diverse industries, enhanced platform capabilities, vertical-specific solutions, integration with existing systems, governance and compliance features. Major trends in the forecast period include increased collaboration, democratization of ai, pre-built models and templates, integration with business applications, explain ability and transparency.
The need for better cybersecurity is expected to propel the growth of the no-code artificial intelligence (AI) platform market going forward. Cybersecurity is the practice of protecting computer systems and networks from digital threats and unauthorized access. It involves measures to safeguard data, privacy and the integrity of digital infrastructure. No-code AI platforms are increasingly employed in cybersecurity, simplifying threat detection and response without requiring extensive coding skills and enhancing overall security measures. For instance, in November 2022, according to the Australian Cyber Security Center, an Australia-based government agency, the number of cybercrime reports received in 2022 was 76,000, up from 13% in 2021. Therefore, the need for better cybersecurity is driving the growth of the no-code artificial intelligence (AI) platform market.
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The no code artificial intelligence (ai) platform market covered in this report is segmented –
1) By Component: No-code AI Platforms, Services
2) By Technology: Natural Language Processing, Computer Vision, Predictive Analytics, Other Technologies
3) By Deployment: Cloud, On-premises
4) By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
5) By Vertical: Banking, Financial Services And Insurance, Healthcare, Retail And E-Commerce, Information Technology (IT) And Telecom, Energy And Utilities, Government And Public Sector, Other Verticals
Major companies operating in the no-code artificial intelligence (AI) platform market are focused on integrating SaaS (software as a service) applications to gain a competitive edge. Integration of SaaS applications can enhance the automation capabilities of no-code AI platforms, allowing for more efficient and effective workflows. This integration can unlock new possibilities and intelligence, accelerating the delivery of AI apps. For instance, in June 2023, Amazon Web Services Inc., a US-based provider of on-demand cloud computing platforms and APIs (application programming interfaces), launched AWS AppFabric, a new no-code service that quickly connects software-as-a-service (SaaS) applications with security tools. AppFabric allows IT and security teams to quickly connect SaaS applications without the need for custom code development or maintenance. The service automatically normalizes application data, enabling administrators to set common policies, standardize security alerts and easily manage user access across multiple applications.
The no code artificial intelligence (ai) platform market report table of contents includes:
1. Executive Summary
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