According to Future Market Insights, the global no-code AI platform market is expected to grow at a CAGR of 28.1% during the forecast period of 2022 to 2032. The market is set to reach a valuation of US$ 38,518.0 Million by the end of 2032 and is likely to be valued at US$ 3,231.8 Million in 2022.
The purpose of no-code AI platforms is to provide non-programmers, beginners, or people who may not have the best understanding of AI implementation, with the necessary tools and services to implement their own AI models and projects without writing a single line of code. No-code AI platforms can also be used by people who have an expertise in AI to accelerate their workflow. The platform consists of drag and drop options, as well as other user friendly options which make the operation easier for non-programmers.
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Key Takeaways: No-Code AI Platform Market
- By solution, the no-code AI tool segment had generated a share of nearly US$ 1,840.4 Mn in 2021.
- By industry, the BFSI segment had exhibited the highest CAGR of 2% in 2021.
- By technology, the predictive analysis segment is set to witness the fastest growth at a CAGR of 7% in the forecast period.
- Top 5 key players in the global no-code AI platform market are set to generate about 35% of share in the assessment period.
- The India no-code AI platform market is expected to showcase the highest CAGR of 5% in the forecast period.
“Increasing use of no-code AI platforms in non-technical fields to automate processes which are often deemed repetitive and mundane is expected to drive the market,” says a FMI analyst.
Ability of No-Code AI Platforms to Enable Domain Experts to Develop AI Projects Will Aid Growth
No-code AI platforms provide users with several drag and drop, user-friendly options, and features to build AI models, ML programs, and automated processes. Due to their simplification, businesses can easily build chatbots for themselves and even software developers who do not have expertise in AI can implement novel features in their software solutions by using no-code AI platforms.
Cyber security professionals can find bugs and errors in their systems and improve the accuracy when they are analyzing their data. AI can also help individuals and businesses to accomplish their tasks in a more efficient manner, as well as improve those tasks which their software and products could not do.
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More Valuable Insights on No-Code AI Platform Market
In this report by Future Market Insights, no-code AI platform has been segmented into four sections: by solution no code AI tools: (cloud-based and on-premises); services (professional services (consulting services, support and maintenance, training and education, software development) and managed services), technology (Natural Language Processing (NLP), Computer Vision, Predictive Analytics), enterprise size (Small and medium enterprises (SME) and large enterprises), industry (BFSI, IT & telecom, retail, healthcare, manufacturing, government, education and others) to help readers understand and evaluate lucrative opportunities in the no-code AI platform demand outlook.
No-Code AI Platform Outlook by Category
By Solution:
- No-code AI tools
- Cloud-Based
- On-Premises
- Services
- Professional Services
- Managed Services
By Technology:
- Natural Language Processing (NLP)
- Computer Vision
- Predictive Analytics
By Enterprise Size:
- Small and Mid-Sized Enterprises (SMEs)
- Large Enterprises
By Industry:
- BFSI
- IT & Telecom
- Retail
- Healthcare
- Manufacturing
- Government
- Education
- Others
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- Middle East & Africa
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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