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AI Platform Market

Market Size and Growth Projections

  • The global artificial intelligence platforms market is estimated to grow by USD 64.9 billion from 2024-2028, with a compound annual growth rate (CAGR) of 45.1%


  • Another report projects the AI platform market to reach USD 136.5 billion by 2034, growing at a CAGR of 21.3% between 2024 and 2034


  • The global cloud computing market, which includes AI platforms, is forecast to expand by 14.3%, reaching USD 939 billion in 2025


Key Players by Revenue

  1. Microsoft Corporation

    • Microsoft expects its AI business to scale to $10 billion in annual revenues in less than two years since launch


  2. Palantir Technologies

    • Reported Q3 2024 revenue of $726 million, a 30% year-over-year increase

    • U.S. commercial revenue jumped 54% year-over-year to $179 million


  3. DigitalOcean

    • Q3 2024 revenue rose 12% year-over-year to $198 million

    • Raised full-year revenue guidance to between $775 million and $777 million


  4. Helport AI

    • Posted a 132% jump in annual revenue


Market Positions and Insights

  • North America, led by the USA, holds a dominant position with an 80.2% share of the North America AI platform industry in 2023


  • China's AI platform market is expected to grow at a CAGR of 22.1% between 2024 and 2034, maintaining a significant market share in East Asia


  • The IT and telecom segment is projected to capture a 29.6% market share in 2024, driven by rapid adoption of AI technologies


Factors Affecting Future Projections

  1. AI Chip Development: Substantial investments in new chip designs and materials are expected, with major tech companies likely to continue developing AI chips internally


  2. Cloud Computing Growth: The expansion of cloud computing, particularly in Software-as-a-Service (SaaS), Infrastructure-as-a-Service (IaaS), and Platform-as-a-Service (PaaS), will drive AI platform adoption


  3. AI Infrastructure Spending: Emerging trends like GPU cloud and AI edge-computing are expected to fuel infrastructure spending, with a projected 50% CAGR during 2022-2027


  4. Regulatory Environment: Faster-than-expected regulations in the AI sector may impact market growth and adoption rates


  5. AI Monetization: Increasing enterprise adoption and monetization of AI investments, including proprietary large language models (LLMs), will create opportunities across the AI ecosystem


As the AI platform market continues to evolve rapidly, companies that can innovate, adapt to regulatory changes, and effectively monetize their AI offerings are likely to maintain strong market positions in the coming year.

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