NEWS PROVIDED BYMarketsandMarkets
Jun 21, 2024, 10:01 ET
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.
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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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