NEWARK, Del, May 23, 2023 (GLOBE NEWSWIRE) -- The global AI builder market is forecast to reach US$ 5.1 Billion in 2023. Over the next ten years, global demand for AI builders is expected to increase at 31.1% CAGR. This will take the total market valuation to US$ 20.1 Billion by 2033.
Growth in the market is driven by several factors. This includes the quick development of emerging nations, high penetration of digitalization, and the increasing need for workflow automation.
AI builders are becoming necessary as a result of the growing demand for automation and digital transformation across industries. As businesses seek to become more efficient and effective, they are turning to AI builders to help them automate processes, gain insights from data, and improve decision-making.
Increasing availability of data and advancements in computing power, which are making it easier and more cost-effective to develop and deploy AI solutions will support market expansion.
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Growing popularity of cloud computing and the rise of the Internet of Things (IoT) are also contributing to the growth of the AI builder market. This is because AI technologies provide new avenues for collecting and analyzing data.
The market is flooded with opportunities that provide the ability to automate repetitive tasks, improve decision-making processes, reduce costs, and enhance customer experiences. AI can be applied in industries such as healthcare, finance, manufacturing, and retail, among others, to drive innovation and transformation.
The growth of the AI builder market is also expected to create new job opportunities for professionals skilled in developing and implementing AI solutions.
Further, AI builders can expand into emerging markets to tap into the growing demand for advanced technologies and cater to the unique needs of these regions. Overall, the opportunities for AI builders are vast, and the market is poised for significant growth in the coming years.
Key Takeaways:
- The worldwide AI builder industry is forecast to expand at 1% CAGR through 2033.
- Based on type, conversational AI builder segment is expected to exhibit a 7% CAGR from 2023 to 2033.
- By industry, healthcare segment is forecast to progress at 6% CAGR during the assessment period.
- The United States AI builder industry is predicted to reach US$ 5.09 billion by 2033.
- The AI builder industry in the United Kingdom is forecast to exhibit a CAGR of 4% through 2033.
- AI builder demand in China is expected to rise at 6% CAGR during 2023 to 2033.
- The AI builder industry in Japan is forecast to reach a valuation of US$ 1.13 Billion.
- India's AI builder industry is likely to expand at 8% CAGR during the forecast period.
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Who is Winning?
Leading AI builder solution providers profiled in the report include Microsoft Corporation, IBM Corporation, Google LLC, Amazon Web Services, Inc., and Automation Anywhere.
Prominent companies are focusing on research and development initiatives to develop new and innovative solutions. They are also expanding their product portfolio and strengthening their distribution channels to meet evolving customer needs.
Several companies are also using strategies such as mergers, partnerships, acquisitions, and collaborations to expand their presence.
Recent Developments:
- In 2023, Microsoft announced next-generation AI tools for power platforms.
More Insights Available:
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the global AI builder industry presenting historical market data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals market projections based on type (conversational AI builder, predictive AI builder, chatbot builders, workflow automation builders, and others), deployment (on-premises and cloud-based), enterprise size (small enterprises, medium enterprises, large enterprises), and industry (healthcare, BFSI, IT & telecom, manufacturing, government, retail & consumer goods, and others) across various regions.
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Market Segmentation:
By Type:
- Conversational AI Builder
- Predictive AI Builder
- Chatbot Builders
- Workflow Automation Builders
- Others
By Deployment:
- On-Premises
- Cloud-Based
By Enterprise Size:
- Small Enterprises
- Medium Enterprises
- Large Enterprises
By Industry:
- Healthcare
- BFSI
- IT & Telecom
- Manufacturing
- Government
- Retail & Consumer Goods
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. AI technology Innovation / Development Trends
4. Pricing Analysis
4.1. Pricing Analysis, By Pricing Model
4.2. Average Pricing Analysis Benchmark
5. Global Market Demand (in Value in US$ Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033
5.1. Historical Market Value (US$ Million) Analysis, 2018 to 2022
5.2. Current and Future Market Value (US$ Million) Projections, 2023 to 2033
6. Market Background
6.1. Macro-Economic Factors
6.2. Forecast Factors - Relevance & Impact
6.3. Value Chain
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