The global no-code AI platform market size is expected to reach $20,42-billion by 2030, according to a new report by Grand View Research. The market is anticipated to grow at a CAGR of 27,3% from 2023 to 2030.
No-code AI is an AI landscape category that intends to democratise AI. It uses a no-code AI development platform with a code-free, visual, and drag-and-drop interface to implement machine learning and AI models.
No-code AI capabilities are provided by various tools, including some automation solutions and dedicated no-code AI tools that incorporate integrated AI capabilities in a no-code user interface. No code AI platform allows non-technical users to quickly analyse, classify data and easily create precise models to make predictions.
Enterprises globally are persuaded to increase their investment in AI/ML systems to achieve a competitive edge through better customer insights and increased employee productivity. No-code AI platform enables the creation of AI models without requiring skilled personnel. This benefits business since there is simply not enough data science skills. Building AI models takes time, effort, and experience.
No-code AI decreases the time it takes to construct AI models to minutes, allowing organizations to incorporate these models into their operations immediately.
Moreover, building custom AI solutions necessitates data organizing, data cleansing, code development, debugging, categorising, and model training. These take significantly longer for users who are unfamiliar with data science. No-code AI platforms have the potential to save development time. No-code AI platforms are designed to aid non-technical users in constructing ML models without delving into the specifics of each process stage, making them simple to use.
Additionally, increasing high-quality, affordable automated technology availability is expected to drive growth expansion in the coming years.
Highlights of the No-code AI Platform Market Report include:
* The no-code AI platforms segment led the market in 2022, accounting for over 76% share of the global revenue. No-code AI platform enables non-expert coders to develop AI systems. Users can use the self-developed AI system to analyze and classify data to build accurate models and make predictions.
* The natural language processing segment led the market in 2022, accounting for over 55% share of the global revenue. It allows machines to encode human language, allowing them to gain a greater understanding of the human environment. Users can use pre-trained NLP engines to automate text-based workflows or a no-code NLP AI platform to develop models.
* The on-premises segment held the largest revenue share of over 58% in 2022. On-premise no-code AI platform allows users to build and deploy AI applications within their own infrastructure without requiring extensive coding knowledge or skills.
* North America dominated the market in 2022, accounting for over 38% share of the global revenue. The region is home to numerous startups, established technology companies, and cloud service providers offering a range of no-code AI platforms to cater to different industries and use cases.