AI Toolkit Market Trends and Forecast
The future of the global AI toolkit market looks promising with opportunities in the natural language processing, machine learning, computer vision, and robotic process automation markets. The global AI toolkit market is expected to reach an estimated $146.6 billion by 2030 with a CAGR of 34.2% from 2024 to 2030. The major drivers for this market are increasing adoption of AI and machine learning across industries, rising demand for scalable and cost-effective AI solutions, along with the ongoing advancements in AI research and development.
• Lucintel forecasts that software is expected to witness higher growth over the forecast period.
• Within this market, natural language processing is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the AI Toolkit Market
• United States – Google launched AI Toolkit for TensorFlow, enhancing machine learning development. Government supports AI research grants for innovation in tech sectors.
• China – Baidu announced open-source AI Toolkit PaddlePaddle, promoting AI democratization. Government targets AI advancement through national strategy and funding initiatives.
• India – Infosys introduced AI Toolkit for enterprise AI solutions, focusing on automation and business intelligence. Government promotes AI adoption in digital transformation policies.
• United Kingdom – DeepMind developed AI Toolkit for healthcare applications, aiming to improve medical diagnostics and patient care. Government supports AI ethics frameworks and research funding.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
AI Toolkit Market by Segment
The study includes a forecast for the global AI toolkit market by type, application, and region.
AI Toolkit Market by Type [Value from 2018 to 2030]:
• Software
• Hardware
AI Toolkit Market by Application [Value from 2018 to 2030]:
• Natural Language Processing
• Machine Learning
• Computer Vision
• Robotic Process Automation
AI Toolkit Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of AI Toolkit Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI toolkit companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI toolkit companies profiled in this report include-
• Meta Platforms
• AWS
• Nvidia Corporation
• Alteryx
• Altair
• Knime
• Datarobot
Recent Development in the AI Toolkit Market
• Google: Google launched TensorFlow Enterprise AI Toolkit, integrating advanced machine learning capabilities for scalable AI development in enterprises.
• Baidu: Baidu introduced PaddlePaddle, an open-source AI toolkit, focusing on deep learning frameworks and applications for developers and researchers.
• Infosys: Infosys developed Nia, an AI-powered toolkit for automation and business intelligence, enhancing operational efficiency across industries.
• DeepMind (owned by Alphabet): DeepMind unveiled AlphaFold, an AI toolkit for protein structure prediction, revolutionizing biotechnology and pharmaceutical research
Features of the Global AI Toolkit Market
Market Size Estimates: Ai toolkit market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Ai toolkit market size by type, application, and region in terms of value ($B).
Regional Analysis: Ai toolkit market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the AI toolkit market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI toolkit market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the AI toolkit market size?
Answer: The global AI toolkit market is expected to reach an estimated $146.6 billion by 2030.
Q2. What is the growth forecast for AI toolkit market?
Answer: The global AI toolkit market is expected to grow with a CAGR of 34.2% from 2024 to 2030.
Q3. What are the major drivers influencing the growth of the AI toolkit market?
Answer: The major drivers for this market are increasing adoption of AI and machine learning across industries, rising demand for scalable and cost-effective AI solutions, along with the ongoing advancements in AI research and development.
Q4. What are the major segments for AI toolkit market?
Answer: The future of the global AI toolkit market looks promising with opportunities in the natural language processing, machine learning, computer vision, and robotic process automation markets.
Q5. Who are the key AI toolkit market companies?
Answer: Some of the key AI toolkit companies are as follows:
• Meta Platforms
• AWS
• Nvidia Corporation
• Alteryx
• Altair
• Knime
• Datarobot
Q6. Which AI toolkit market segment will be the largest in future?
Answer: Lucintel forecasts that software is expected to witness higher growth over the forecast period.
Q7. In AI toolkit market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the AI toolkit market by type (software and hardware), application (natural language processing, machine learning, computer vision, and robotic process automation), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to AI Toolkit Market, AI Toolkit Market Size, AI Toolkit Market Growth, AI Toolkit Market Analysis, AI Toolkit Market Report, AI Toolkit Market Share, AI Toolkit Market Trends, AI Toolkit Market Forecast, AI Toolkit Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.