No-Code AI Platform Market Report Cover

No-Code AI Platform Market

No-Code AI Platform Market Report Cover

No-Code AI Platform Market Size, Share, Growth & Industry Analysis, By Component (No-Code AI Platform Tool, Services), By Deployment (Cloud, On-Premises), By Technology (Natural Language Processing (NLP), Computer Vision, Predictive Analytics) and Regional Analysis, 2024-2031

Author : Ashim L.

Pages : 120

Base Year : 2023

Release : May 2024

Report ID: KR739

No-Code AI Platform Market Size

Global No-Code AI Platform Market size reached USD 4447.0 million in 2023, with projections indicating that the industry revenue is likely to be USD 5625.4 million by the end of 2024. The no-code AI platform industry is anticipated to be valued at USD 31155.5 million by 2031, exhibiting a compound annual growth rate (CAGR) of 27.70% between 2024 and 2031. In the scope of work, the report includes solutions offered by companies such as Akkio Inc., Amazon Web Services, Inc., Apple Inc., Caspio, Inc., Clarifai, Inc., DataRobot, Inc., Google, Microsoft, Quickbase, Shnoco, and others.

The expansion of the no-code AI platform market is positively impacted by the increasing demand for simplified AI solutions that are accessible to non-technical users. This demand is fueled by businesses aiming to leverage AI's capabilities without investing in users and setups necessitating significant programming expertise. This has led to the development of user-friendly, drag-and-drop interfaces for AI model creation. Additionally, the market is benefitting from the growing adoption of AI across various industries, prompting the need for democratized AI tools that empower diverse teams to utilize AI's potential for data analysis, automation, and decision-making.

The no-code AI platform market is characterized by a wide range of innovative solutions catering to businesses of all sizes. These platforms offer intuitive interfaces and pre-built modules for AI model development, deployment, and management, enabling organizations to increase AI adoption without the need for extensive coding expertise. Established tech companies, startups, and cloud service providers are among the key participants in the market, actively shaping a competitive ecosystem that propels continuous advancements in AI accessibility and functionality.

The no-code AI platform market focused on developing software tools that empower users to create and deploy AI models without the need for coding skills. These platforms typically feature visual interfaces, drag-and-drop functionality, and pre-built AI components, making AI accessible to a broader range of users beyond data scientists and developers. By democratizing AI development, these platforms enable organizations to leverage AI's potential to enhance operational efficiency, customer experiences, and decision-making processes across various domains such as healthcare, finance, e-commerce, and manufacturing.          

Analyst’s Review

Manufacturers in the no-code AI platform market are making significant efforts to enhance user experience and functionality. They are implementing new features such as advanced automation tools, real-time analytics, and enhanced integrations with other software platforms.

Additionally, there is a rising focus on improving scalability and security measures to meet the diverse needs of businesses across major sectors such as finance and banking, healthcare, E-commerce, telecommunications, among others. These initiatives, which aim to foster innovation and provide users with more robust and reliable AI solutions, are expected to significantly contribute to the robust expansion of the no-code AI platform market.

No-Code AI Platform Market Growth Factors

The ongoing advancements in natural language processing (NLP) capabilities are enabling platforms to offer more sophisticated AI models that understand and generate human-like text, leading to enhanced customer interactions, personalized recommendations, and efficient content creation. The continuous evolution of NLP technologies fuels the development of intuitive AI platforms that leverage language understanding and generation for various applications, thereby stimulating adoption across diverse industries and expanding the market's potential for delivering impactful AI solutions.

The pressing need for ensuring the accuracy and reliability of AI models created using no-code platforms presents a key challenge that requires robust quality assurance processes, including thorough testing, validation against diverse datasets, and ongoing monitoring post-deployment.

Additionally, the implementation of explainable AI techniques helps enhance transparency and trust in AI decisions, thereby mitigating concerns regarding bias or erroneous outcomes. Key market participants are prioritizing collaborative efforts involving domain experts, data scientists, and AI platform providers, aiming to continuously refine AI models, ensuring reliable result delivery and meeting performance expectations.

No-Code AI Platform Market Trends

The rising integration of no-code AI platforms with low-code development tools is gaining traction in the market. This need is further fueled by the recognition of synergies between these platforms, enabling users to combine visual development environments with customizable coding capabilities. This integration empowers organizations to create complex AI solutions by incorporating pre-built components and seamlessly integrating custom code when needed, thereby enhancing flexibility and scalability in AI development. The convergence of no-code and low-code approaches facilitates collaborative workflows, accelerates AI project delivery, and fosters innovation.

The rising emphasis on ethical AI practices within no-code AI platforms reflects the growing awareness and regulatory scrutiny regarding AI's ethical implications, including fairness, transparency, and accountability. No-code platforms are incorporating ethical AI principles by integrating features such as bias detection and mitigation, explainability tools, and compliance frameworks. These initiatives aim to promote responsible AI development, address concerns regarding algorithmic bias and discrimination, and build trust among users and stakeholders. Prioritization of ethical considerations enables no-code AI platforms to significantly contribute to the advancement of a more inclusive, trustworthy, and socially responsible AI ecosystem.

Segmentation Analysis

The global no-code AI platform market is segmented based on component, deployment, technology, and geography.

By Component

Based on component, the market is categorized into no-code AI platform tool and services. The no-code AI platform tool segment led the market in 2023, reaching a valuation of USD 2,986.3 million. The expansion of the no-code AI platform tool segment is driven by the increasing demand for user-friendly solutions that facilitate AI model development without requiring coding expertise. These tools offer intuitive interfaces, drag-and-drop functionalities, and pre-built AI components, enabling businesses to foster AI adoption and innovation.

Additionally, the scalability and flexibility of these platforms contribute to their popularity among organizations seeking to streamline AI development processes and empower non-technical users to create AI solutions tailored to their specific needs, thus supporting the growth of this segment.

By Deployment

Based on deployment, the market is bifurcated cloud and on-premises. The cloud segment secured the largest revenue of USD 2,593.9 million in 2023. The expansion of the cloud deployment segment is fueled by the numerous advantages it offers, including scalability, accessibility, and cost-effectiveness. Cloud-based no-code AI platforms eliminate the need for extensive infrastructure investment and provide on-demand access to computing resources, thereby facilitating seamless collaboration and faster deployment of AI solutions.

Furthermore, cloud deployments offer enhanced security measures and enable organizations to leverage advanced AI capabilities without the burden of managing complex IT infrastructure, leading to the widespread adoption of cloud-based solutions.

By Technology

Based on technology, the market is classified into natural language processing (NLP), computer vision, and predictive analytics. The computer vision segment is poised to witness significant growth at a CAGR of 30.25% through the forecast period (2024-2031). The significant growth of the computer vision segment is attributed to the increasing adoption of AI-powered image and video analysis applications across various industries.

Computer vision technology enables machines to interpret and understand visual data, thereby creating opportunities for applications such as object recognition, surveillance, autonomous vehicles, and augmented reality. The rising demand for automation, efficiency, and enhanced user experiences is fueling the integration of computer vision capabilities across diverse domains, thereby propelling the growth of this segment within the no-code AI platform market and fostering innovation in visual intelligence solutions.

No-Code AI Platform Market Regional Analysis

Based on region, the global no-code AI platform market is classified into North America, Europe, Asia-Pacific, MEA, and Latin America.

No-Code AI Platform Market Size & Share, By Region, 2024-2031

The North America No-Code AI Platform Market share stood around 35.62% in 2023 in the global market, with a valuation of USD 1583.9 million. This dominance is mainly bolstered by several factors, including its robust technological infrastructure, widespread adoption of AI technologies across industries, and the presence of key market players. The region benefits from a strong ecosystem of tech companies, research institutions, and venture capital funding, thereby fostering innovation and propelling the development of advanced AI solutions.

Moreover, North American businesses are early adopters of emerging technologies, utilizing no-code AI platforms to gain competitive advantages in areas such as data analysis, customer engagement, and process automation, thus contributing to the region's leading position in the market.

Asia-Pacific is poised to experience significant growth over the forecast period at a CAGR of 30.17%. The region is experiencing rapid growth in the no-code AI platform market due to several factors, including increasing digitalization initiatives, rising adoption of AI technologies, and expanding investments in technology infrastructure. The region's large and diverse consumer base presents significant opportunities for AI-driven innovation across various sectors, fostering the demand for accessible and easy-to-use AI solutions.

Furthermore, supportive government policies, growing startup ecosystems, and rising awareness of AI's potential are fueling Asia-Pacific no-code AI platform market expansion. As businesses in the region adopt digital transformation and seek to enhance competitiveness, the demand for no-code AI platforms is expected to rise, thereby augmenting regional market growth in the forecast years.

Competitive Landscape

The global no-code AI platform market study will provide valuable insight with an emphasis on the fragmented nature of the industry. Prominent players are focusing on several key business strategies such as partnerships, mergers and acquisitions, product innovations, and joint ventures to expand their product portfolio and increase their market shares across different regions. Manufacturers are adopting a range of strategic initiatives, including investments in R&D activities, the establishment of new manufacturing facilities, and supply chain optimization, to strengthen their market standing. 

List of Key Companies in No-Code AI Platform Market

  • Akkio Inc.
  • Amazon Web Services, Inc. 
  • Apple Inc.
  • Caspio, Inc.
  • Clarifai, Inc. 
  • DataRobot, Inc.
  • Google
  • Microsoft 
  • Quickbase
  • Shnoco

Key Industry Developments 

  • October 2023 (Launch): Akkio, a prominent player in the generative business intelligence for small and medium-sized businesses (SMBs), launched Generative Reports, an AI tool that transforms data into actionable insights. This tool empowered SMBs to connect their data, describe their projects, and automatically receive real-time reports. It facilitated optimization of marketing spend, revenue forecasting, lead scoring, and improvement of customer experiences. Generative Reports simplified data analysis without requiring complex coding, offered customized reports, and further allowed users to connect to live data sources for secure sharing and alignment with business goals.
  • September 2023 (Launch): CyborgIntell expanded its zero-code AI platform for finance and insurance, adding a Feature Store and Model Risk Management (MRM). The Feature Store automates feature generation from raw data, resulting in a saving of 90% of preparation time and enhancing transaction insights. Its automated data pipelines aid model deployment, thereby reducing errors. MRM monitors over 60 parameters, providing real-time reports and trust in AI deployments by offering early warning indicators for potential failures.

The Global No-Code AI Platform Market is Segmented as:

By Component

  • No-Code AI Platform Tool
  • Services

By Deployment

  • Cloud
  • On-Premises

By Technology

  • Natural Language Processing (NLP)
  • Computer Vision
  • Predictive Analytics

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • U.K.
    • Spain
    • Germany
    • Italy
    • Russia
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Rest of Asia-Pacific
  • Middle East & Africa
    • GCC
    • North Africa
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America
  • Check Icon Additional Company Profiles
  • Check Icon Additional Countries
  • Check Icon Cross Segment Analysis
  • Check Icon Regional Market Dynamics
  • Check Icon Country-Level Trend Analysis
  • Check Icon Competitive Landscape Customization
  • Check Icon Extended Forecast Years
  • Check Icon Historical Data Up to 5 Years
Frequently Asked Questions (FAQ's)
The global market is projected to reach USD 31,155.5 million by 2031, growing at a CAGR of 27.70% from 2024 to 2031.
The global market was valued at USD 4,447.0 million in 2023.
The growing demand for accessible and customizable AI solutions, coupled with the increasing complexity and cost of traditional AI development, is driving the rapid expansion of the no-code AI platform market.
Top key players in the no-code AI platform are Akkio Inc., Amazon Web Services, Inc., Apple Inc., Caspio, Inc., Clarifai, Inc., DataRobot, Inc., Google, Microsoft, Quickbase, Shnoco, and others.
Asia-Pacific is the fastest growing region with the CAGR of 30.17% in the forecast period (2024-2031) with the market value forecast to reach at USD 8,346.6 million in 2031.
By component, no-code AI platform tool will hold the maximum share in the no-code AI platform market with the revenue value of USD 20,042.3 million in 2031.
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