No-code AI platform Market is expected to grow at a robust CAGR

Global No-code AI platform Market is expected to grow as there is a Democratization of AI Development throughout the forecast period.

According to TechSci Research report, “No-code AI platform Market - Global Industry Size, Share, Trends, Opportunity, and Forecast 2018-2028”, The Global No-code AI platform Market is poised for robust growth in the coming years, driven by various factors that are reshaping the industry landscape. The global No-code AI Platform Market is currently undergoing a profound transformation, propelled by the integration of cutting-edge technologies. No-code AI platforms are transcending conventional boundaries and are playing pivotal roles across a wide spectrum of industries, from finance to healthcare and from retail to logistics. Recognized for their capacity to democratize AI development, streamline processes, and foster innovation, no-code AI platforms are making substantial contributions to diverse sectors. In this exploration, we delve into how no-code AI platforms are leaving a significant impact across various industries.

No-code AI platforms are spearheading a digital transformation in the finance sector. With the rising demand for data-driven insights, risk assessment, and fraud detection, financial institutions are turning to no-code AI platforms to develop predictive models, automate decision-making, and enhance customer experiences through personalized financial recommendations.

In the healthcare industry, no-code AI platforms are revolutionizing patient care and research. Hospitals and healthcare providers are leveraging these platforms to build AI-driven applications for patient monitoring, disease diagnosis, and drug discovery, resulting in faster and more accurate medical interventions.

Retail and e-commerce businesses are harnessing the power of no-code AI platforms to optimize customer experiences. These platforms enable retailers to create recommendation engines, analyze consumer behavior, and develop chatbots for customer support, ultimately driving sales and customer loyalty.

The logistics and supply chain industry is using no-code AI platforms to enhance operational efficiency and supply chain visibility. Companies are employing these platforms to create AI-driven solutions for demand forecasting, route optimization, and inventory management, resulting in cost reductions and improved service delivery.

In the education sector, no-code AI platforms are transforming the way students learn and educators teach. Educational institutions are using these platforms to develop AI-powered learning management systems, personalized tutoring systems, and content recommendation engines, enhancing the quality of education.

The adoption of no-code AI platforms is driven by the need for democratizing AI development, streamlining processes, and fostering innovation across various sectors. These platforms offer organizations the opportunity to create AI-driven applications without extensive coding, reducing development time and costs, and enabling faster time-to-market for AI solutions. As no-code AI platform technology continues to advance, its potential to revolutionize the way organizations develop, deploy, and benefit from AI-driven applications across industries is boundless, ushering in a new era of accessible AI innovation and automation.

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The Global No-code AI platform market is segmented into Component, Organization Size, Technology, Industry. Based on component market is segmented into No-Code AI Platforms, Services. Based on Organization Size the market is segmented into Large Enterprises, Small and Medium Enterprises. Based on Technology the market is segmented into Data Preparation and Integration Tools, Predictive Analytics, Automated Machine Learning (AutoML), Natural Language Processing, Computer Vision, Others. Based on Industry the market is segmented into BFSI, IT & Telecom, Energy & Utilities, Retail & E-Commerce, Healthcare, Manufacturing, Government, Education, Others.

The Natural Language Processing (NLP) segment is dominating the global no-code AI platform market by technology. In 2022, the NLP segment accounted for over 40% of the global no-code AI platform market revenue. This is due to a number of factors, including:

The high demand for NLP-powered applications in a variety of industries, such as customer service, marketing, and healthcare

The rapid innovation in the NLP field

The increasing availability of no-code NLP platforms

The NLP segment is expected to continue to dominate the global no-code AI platform market in the coming years. However, the AutoML segment is expected to grow at the fastest rate, due to the increasing demand for AutoML platforms from businesses and organizations that want to build and deploy AI models without having to have a deep understanding of machine learning.

Here are some of the key trends driving the growth of the NLP segment in the global no-code AI platform market:

High demand for NLP-powered applications: NLP-powered applications are in high demand in a variety of industries, such as customer service, marketing, and healthcare. For example, NLP-powered applications can be used to automate customer service tasks, such as answering customer questions and routing customer tickets. NLP-powered applications can also be used to create targeted marketing campaigns and to develop new diagnostic tools for healthcare.

Rapid innovation in the NLP field: The NLP field is rapidly innovating, with new NLP technologies and algorithms being developed all the time. This is making it possible to develop more accurate and powerful NLP-powered applications.

Increasing availability of no-code NLP platforms: No-code NLP platforms are becoming increasingly available. These platforms make it possible for businesses and organizations to build and deploy NLP-powered applications without having to have a deep understanding of NLP.

The growth of the NLP segment in the global no-code AI platform market is creating opportunities for a variety of companies, including NLP software vendors, no-code AI platform vendors, and system integrators.

Here are some examples of how NLP is being used in no-code AI platforms:

Customer service: NLP can be used to automate customer service tasks, such as answering customer questions and routing customer tickets. For example, NLP-powered chatbots can be used to answer customer questions about products and services. NLP can also be used to route customer tickets to the appropriate customer service representative.

Marketing: NLP can be used to create targeted marketing campaigns. For example, NLP can be used to analyze customer data to identify customer trends and preferences. NLP can also be used to generate personalized marketing messages for each customer.Healthcare: NLP can be used to develop new diagnostic tools for healthcare. For example, NLP can be used to analyze medical records to identify patterns that may indicate a medical condition. NLP can also be used to develop new drugs and treatments.

Overall, NLP is a powerful technology that is being used to develop a wide range of applications in a variety of industries. The increasing availability of no-code NLP platforms is making it possible for more businesses and organizations to take advantage of NLP.

Key market players in the Global No-code AI platform Market are:-

• Microsoft Corporation
• GOOGLE LLC
• International Business Machines Corporation
• Salesforce.com, Inc..
• Amazon Web Services, Inc.
• APPIAN CORPORATION
• OutSystems
• Mendix B.V.
• PEGASYSTEMS INC.
• Quick Base, Inc.

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“North America is the dominating region in the global no-code AI platform market due to a number of factors, including: High demand for no-code AI platforms: North American businesses are leading the way in adopting no-code AI platforms. This is due to a number of factors, including the need to innovate, the desire to improve efficiency, and the need to compete in a global marketplace.

Strong presence of major no-code AI platform vendors: North America is home to some of the world's leading no-code AI platform vendors, such as Google, Microsoft, Amazon, and Dataiku. These vendors offer a wide range of no-code AI platforms that meet the needs of businesses of all sizes.

Well-developed infrastructure for AI research and development: North America has a well-developed infrastructure for AI research and development. This includes the availability of funding, qualified researchers, and testing facilities. This infrastructure is essential for the development of new and innovative no-code AI platforms.

North America is expected to remain the dominant region in the global no-code AI platform market in the coming years. However, the Asia Pacific region is expected to grow at the fastest rate, due to the increasing demand for no-code AI platforms from businesses in the region and the growing number of no-code AI platform vendors in the region.

Here are some examples of how no-code AI platforms are being used in North America:

Sales and marketing: No-code AI platforms are being used to automate sales and marketing tasks, such as lead generation, email marketing, and customer relationship management.

Customer service: No-code AI platforms are being used to automate customer service tasks, such as answering customer questions and routing customer tickets.

Product development: No-code AI platforms are being used to develop new products and services. For example, no-code AI platforms can be used to develop personalized product recommendations and to create new chatbots and virtual assistants.

Operations: No-code AI platforms are being used to automate operational tasks, such as inventory management and supply chain management.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

“No-code AI platform Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Component (No-Code AI Platforms, Services), By Organization Size (Large Enterprises, Small and Medium Enterprises), By Technology (Data Preparation and Integration Tools, Predictive Analytics, Automated Machine Learning (AutoML), Natural Language Processing, Computer Vision, Others), By Industry (BFSI, IT & Telecom, Energy & Utilities, Retail & E-Commerce, Healthcare, Manufacturing, Government, Education, Others), By Region, By Competition Forecast & Opportunities, 2018-2028,” has evaluated the future growth potential of Global No-code AI platform Market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global No-code AI platform Market.

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