Global No-code Artificial Intelligence (AI) Platform Market 2023-2030

Global No-code Artificial Intelligence (AI) Platform Market 2023-2030

Global No-Code Artificial Intelligence (AI) Platform Market Size, Share & Trends Analysis Report by Technology (Natural Language Processing (NLP), Computer Vision, Machine Learning, and Others), by Deployment (Cloud, and On-premises), by Enterprise Size (SMEs, and Large Enterprises), and by vertical (BFSI, Healthcare, Retail & E-Commerce, IT & Telecom, Energy & Utilities, Government & Public Sector, and Others), Forecast Period (2023-2030)

Global no-code AI platform market is anticipated to grow at a CAGR of 27.3 % during the forecast period (2023-2030). The market’s growth is attributed to enhancing productivity suites and SaaS applications across the globe. The increasing need to improve the management, security, and functionality of existing SaaS applications has been addressed by products such as AWS AppFabric, which encourages the development of no-code AI platforms to further optimize these platforms. For instance, in June 2023, Amazon.com, Inc. launched AWS AppFabric, a no-code service that enhances companies’ existing investment in software-as-a-service (SaaS) applications with improved security, management, and productivity. AppFabric allows IT and security teams to improve the effectiveness of SaaS applications and productivity suites. It collects and organizes log data from various sources and reduces the cost of creating and maintaining individual integrations. In the future, AppFabric will additionally include a generative AI feature powered by Amazon Bedrock, that uses language models and data from the common API layer to provide suggestions, execute tasks, and generate insights.

Segmental Outlook

The global no-code AI platform market is segmented on the technology, deployment, enterprise size, and vertical. Based on the technology, the market is sub-segmented natural language processing (NLP), computer vision, machine learning, and others. Based on the deployment, the market is sub-segmented into cloud, and on-premises. Based on the enterprise size, the market is sub-segmented into SMEs and large enterprises. Furthermore, based on vertical, the market is sub-segmented into BFSI, healthcare, retail & e-commerce, it & telecom, energy & utilities, government & public sector, and others. The natural language processing (NLP) subcategory is expected to capture a significant portion of the market share within the technology segment. This is attributed to the use of NLP, AI systems can comprehend and translate human language. By embedding NLP with no-code AI platforms, users can develop applications that understand user inputs and respond accordingly sustainably and transparently.

The Healthcare Sub-Segment is Anticipated to Grow significantly in the Global No-code AI Platform Market

Among the verticals, the healthcare sub-segment is expected to grow considerably during the forecast period. The segmental growth is attributed to simplifying the management of health data. There has been a desire for solutions to simplify the process of handling health data owing to its complexity. Data administration is streamlined by no-code platforms, making it easier for healthcare practitioners to access and utilize.

Regional Outlook

The global no-code AI platform market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).

The North America Region is Expected to Grow at a Significant CAGR in the Global No-code AI Platform Market

Among all regions, the North American region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the rising technological adaptation in the region. For years, the financial services sector has been innovative in technological advancement, continuously adapting to enable the advantage of new tools and solutions to improve client experiences and operational effectiveness. According to the ET BFSI, in September 2023, the banking, financial services, and insurance (BFSI) sector has been adapting to technological change for many years. As customer expectations for convenience, speed, and customer-centricity have grown, the need for innovation has become more important. Two transformative technologies have been identified as game-changers in this ever-evolving landscape: low-code development and artificial intelligence (AI). India has become a hub for financial innovation, with FinTech startups raising a significant amount of capital in 2022.

Market Players Outlook

The major companies serving the no-code AI platform market include Apple, AWS, Microsoft, Google, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in August 2023, Akkio announced that it had closed a $15M Series A with participation by Bain Capital Ventures (BCV) and Pandome, Inc. The funding accelerates the commercialization of Akkio’s powerful, easy-to-use, and affordable AI platform.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global no-code AI platform market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.