CHICAGO, June 21, 2024 /PRNewswire/ -- The No-Code
AI Platforms Market is expected to grow from USD 4.9 billion in 2024 to USD 24.8 billion in 2029, at a CAGR of
38.2% during the forecast period, according to a new report by
MarketsandMarkets™. No-code AI platforms revolutionize AI adoption
by enabling businesses without specialized skills to implement
projects quickly and affordably. It offers accessibility, speed,
and cost-effectiveness, empowering users to deploy predictive
analytics, image and speech recognition, chatbots, fraud detection,
and supply chain optimization solutions. However, successful
deployment requires careful planning to ensure accuracy,
reliability, and security. Integration with existing systems can be
complex, and users still need basic AI understanding. Despite
challenges, these platforms foster innovation by facilitating rapid
prototyping and iteration. Overall, the no-code AI platforms
democratize AI capabilities across industries, making sophisticated
technologies accessible and manageable for organizations of all
sizes.
Browse in-depth TOC on "No-Code AI Platforms Market"
265 – Tables
75 - Figures
375 – Pages
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Scope of the Report
Report
Metrics
|
Details
|
Market size available
for years
|
2019–2029
|
Base year
considered
|
2023
|
Forecast
period
|
2024–2029
|
Forecast
units
|
USD Billion
|
Segments
Covered
|
Offering (solutions [by
type { reporting &
visualization tools, AutoML platforms, and automation platforms
(flow builder tools, conversational AI building tools, business
process automation tools, and others), and other solution types},
by deployment mode [cloud, and on-premises]}, and services),
Technology (predictive analytics, deep learning, natural language
processing, computer vision), Data Modality (text, image, video,
audio & speech, and multimodal), Application ( workflow
automation, text translation & generation, platform building,
chatbot & virtual assistants, predictive lead scoring, digital
workflow design, visual recognition & object detection,
predictive customer churn, and other applications), Vertical (BFSI,
retail & ecommerce, automotive, transportation & logistics,
government & defense, healthcare & life sciences,
telecommunications, energy & utilities, manufacturing,
agriculture, IT/ITeS, media & entertainment, and other
verticals).
|
Geographies
covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Companies
covered
|
IBM (US), Microsoft
(US), Google (US), AWS (US), Salesforce (US), C3 AI (US), H2O. ai
(US), Qlik (US), Clarifai (US), DataRobot (US), Dataiku (US),
SymphonyAI (US), Altair (US), Levity (Germany), Akkio (US), Aito
(Finland), Obviously AI (US), Pecan AI (Israel), Kore.ai (US),
Konverse AI (US), Yellow.ai (US), MokeyLearn (US), Roboflow (US),
NanoNets (US), Noogata (Israel), Rasa (US), Builder.ai (UK), Appy
Pie (US), Accern (US), RunwayML (US), and Bubble (US).
|
By Offering, the services segment to account for higher CAGR
during the forecast period.
The No-Code AI Platforms Market has transformed how businesses
harness artificial intelligence without requiring deep programming
skills. These platforms provide a variety of services that
democratize AI development, serving diverse needs across
industries. No-code AI services empower organizations to swiftly
create, deploy, and manage machine learning models, effectively
reducing time-to-market, enhancing model precision, and optimizing
operational workflows. Moreover, they foster collaboration and
broaden application scenarios, playing a pivotal role within the
no-code AI ecosystem. As businesses increasingly seek agile and
efficient AI solutions, these platforms continue to innovate,
offering accessible tools that democratize AI capabilities and
empower teams to leverage sophisticated technologies without the
traditional barriers of technical expertise.
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By Application, the chatbots & virtual assistants is
expected to hold the largest market size for the year 2024.
Chatbots & virtual assistants are poised to dominate the
No-Code AI Platforms Market, leveraging the power of artificial
intelligence to revolutionize customer interactions. These
AI-driven tools can seamlessly integrate with existing systems,
providing real-time support and personalized experiences across
various channels. By utilizing no-code platforms, businesses can
rapidly develop and deploy chatbots & virtual assistants
without requiring extensive coding expertise. This democratization
of AI technology empowers organizations to create bespoke solutions
tailored to their specific needs, enhancing customer satisfaction
and loyalty. As the market continues to grow, chatbots &
virtual assistants are expected to hold the largest share, driving
innovation and competitiveness in the no-code AI landscape.
By Vertical, healthcare & life sciences is projected to
grow at the highest CAGR during the forecast period.
The healthcare & life sciences sector is anticipated to
experience a rapid growth in the No-Code AI Platforms Market. AI
integration in healthcare & life sciences has facilitated the
development of precision-based diagnostics, treatment protocols,
and health management systems. No-code AI platforms simplify
application creation, allowing healthcare professionals to tailor
solutions without extensive technical skills. This democratization
of AI promises personalized treatment plans, predictive analytics
for disease progression, and enhanced patient outcomes. As the
sector advances, no-code AI platforms will streamline operations,
improve diagnosis and treatment, and drive medical innovation.
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Asia Pacific is expected to grow at the highest CAGR
during the forecast period.
The Asia-Pacific region is
experiencing a notable surge in the adoption of no-code AI
platforms. Businesses here are increasingly leveraging these tools
to streamline operations, enhance customer experiences, and drive
innovation. The appeal lies in their user-friendly interfaces,
which empower users without deep technical backgrounds to create
and deploy AI solutions quickly. This accessibility is particularly
beneficial in diverse markets across Asia-Pacific, where companies can customize AI
applications to meet local needs efficiently. Moreover, the
scalability and cost-effectiveness of no-code AI platforms make
them particularly attractive in a region known for its rapid
digital transformation and diverse economic landscapes. As adoption
continues to grow, these platforms are poised to reshape industries
across Asia-Pacific, from
manufacturing to retail & ecommerce and beyond.
Top Key Companies in No-Code AI Platforms Market:
The major No-code AI platforms providers include IBM (US),
Microsoft (US), Google (US), AWS
(US), Salesforce (US), C3 AI
(US), H2O. ai (US), Qlik (US), Clarifai (US), DataRobot
(US), Dataiku (US), SymphonyAI (US), Altair (US), Levity
(Germany), Akkio (US), Aito
(Finland), Obviously AI (US),
Pecan AI (Israel), Kore.ai (US),
Konverse AI (US), Yellow.ai (US), MokeyLearn (US), Roboflow (US),
NanoNets (US), Noogata (Israel),
Rasa (US), Builder.ai (UK), Appy Pie (US), Accern (US), RunwayML
(US), and Bubble (US). These companies have used both organic and
inorganic growth strategies such as product launches, acquisitions,
and partnerships to strengthen their position in the No-Code AI
Platforms Market.
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