PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1304645
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1304645
No-code AI platform Market size was valued at USD 3,700.4 Million in 2022, expanding at a CAGR of 25.9% from 2023 to 2030.
No-code AI is a way of building AI solutions without writing a line of code. It is a great way to test ideas quickly, build new projects, and start businesses and new products faster. No-code AI uses graphical user interfaces (GUIs) and pre-built machine learning models to build AI-based applications. These platforms are enabling businesses to make better decisions by automating the process of data collection, analysis, and action. Traditionally, industries have had to hire data scientists and developers to build custom AI applications. The benefits of No-code AI are More affordable than customizable AI solutions as there are fewer data scientists required to develop ML models.
With the rise of AI enterprises, there has also been an emergence of no-code AI platforms. These platforms allow individuals with minimal coding or programming knowledge to create and deploy AI models and applications. The International Finance Corporation (IFC) estimates that 65 million firms, or 40% of formal micro, small and medium enterprises (MSMEs) in developing countries, have an unmet financing need of USD5.2 trillion every year, which is equivalent to 1.4 times the current level of the global MSME lending. Rapid evolution and deployment of Al and machine learning can provide growth opportunities for the market. However, Transparency and Limited Customization of no-code AI platforms hampers the growth of the No-code AI Platform Market
The Global No-code AI platform Market is segmented on the basis of Component, Technology, Deployment, enterprise size, vertical, and Region.
The market is divided into two categories based on components: No-code AI Platforms and Services.
The market is divided into two categories based on Technology: Natural Language Processing, Computer Vision, Predictive Analytics, and Others.
The market is divided into two categories based on Deployment: Cloud and On-premises.
The market is divided into two categories based on enterprise size: SMEs and Large Enterprises.
The market is divided into two categories based on vertical: Natural Language Processing, Computer Vision, Predictive Analytics, and Others.
Geographically, this market is widespread in the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America is expected to drive the growth of the No-code AI platform market, due to Increased investment in innovative technology to improve customer experience and corporate processes. Customer experience technology investments are investments that businesses make to enhance the customer experience. These investments include technologies such as AI, data analytics, customer relationship management (CRM) systems, and customer service platforms. Additionally, these technologies can be used to improve operational efficiency, reduce costs, and create new revenue streams. According to Artificial Intelligence Statistics, the US AI market is forecast to reach USD299.64 billion by 2026. Europe and Asia Pacific are expected to drive the growth of the No-code AI platform Market in the forecast period, due to the demand for No-code AI tools surging among organizations.
The no-code AI platform market has witnessed substantial growth in recent years, driven by increasing demand for accessible AI development tools and the rising need for AI-driven solutions across various industries. However, emerging startups can compete by forming strategic partnerships, targeting niche markets, and demonstrating unique value propositions. The demand for no-code AI platforms extends to various industries, including healthcare, finance, retail, manufacturing, and more. These platforms enable businesses in different sectors to develop AI applications tailored to their specific requirements and challenges. For instance, On July 23, 2021, Apple's Machine Learning Researchers Developed A No-Code AI Platform Called 'Trinity' For Complex Spatial Datasets.
On April 19, 2023., Microsoft invested an undisclosed sum into Builder.ai, a startup that helps companies make applications without any coding experience, doubling down on its artificial intelligence efforts.
This proposed research study on No-code AI platform market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The report provides the client the latest up-to-date and trending insights about the No-code AI platform market.
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for No-code AI platform market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the No-code AI platform market
Impact of COVID-19 on No-code AI platform market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on No-code AI platform market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the No-code AI platform market, we have also included competitive landscape and key innovator analysis for the No-code AI platform market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the No-code AI platform market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global No-code AI platform market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows: