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Artificial Intelligence (AI) Toolkit Market Analysis

  • Report ID: GMI7331
  • Published Date: Nov 2023
  • Report Format: PDF

Artificial Intelligence Toolkit Market Analysis

Artificial Intelligence (AI) Toolkit Market, By Type, 2021 – 2032, (USD Billion)

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Based on type, the open-source segment held over 60% of the market share in 2022. Open-source AI toolkits are gaining popularity due to several compelling reasons. They offer accessibility, allowing a broader range of developers to leverage AI technologies without prohibitive costs. Collaboration and community support foster innovation, enabling rapid advancements and the sharing of knowledge. Transparency and customization are additional advantages, as users can inspect and modify the source code to suit their specific needs while maintaining transparency in AI models. These factors make open-source AI toolkits an attractive choice for businesses and researchers alike.

Artificial Intelligence (AI) Toolkit Market Share, By Application, 2022

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Based on application, the machine learning segment accounted for 40% of the AI toolkits market share in 2022. The rapid integration of AI toolkits in machine learning applications is driven by their versatility, accessibility, and efficiency. These toolkits offer a wide range of pre-built algorithms, reducing the need for developers to create models from scratch. They empower both experts and newcomers to leverage machine learning, driving rapid development and deployment. Additionally, open-source AI toolkits like TensorFlow and PyTorch foster a collaborative ecosystem, enabling developers to stay current with the latest advancements while community support and regular updates enhance their usability and reliability.

U.S. Artificial Intelligence (AI) Toolkit Market Size, 2021 -2032, (USD Billion)

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North America artificial intelligence toolkits market share of over 30% in 2022, driven by the region’s strong ecosystem of technology companies, research institutions, and startups focused on AI development. Additionally, there is substantial investment in AI research and development, with government support and venture capital funding fueling innovation. North America's diverse industries, such as healthcare, finance, and autonomous vehicles, are increasingly integrating AI into their operations, driving demand for AI toolkits to create customized solutions. This combination of factors has contributed to the industry's healthy growth in the region.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of artificial intelligence toolkit reached USD 17.8 billion in 2022 and may register over 24% CAGR between 2023 and 2032, due to the growing demand for AI-powered applications in healthcare, finance, e-commerce, and manufacturing.

The open-source type segment held over 60% of the market share in 2022, owing to the rising collaboration and community support to foster innovations for enabling rapid advancements and sharing of knowledge.

North America recorded over 30% of the market share in 2022, driven by the strong ecosystem of technology companies, research institutions, and startups focusing on AI development.

Some of the leading artificial intelligence toolkit companies are Google LLC, Microsoft Corporation, Amazon.Com, Inc., IBM Corporation, Intel Corporation, NVIDIA Corporation, Meta Platform Inc., Thales group, and HPE.

Artificial Intelligence (AI) Toolkit Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 338
  • Countries covered: 17
  • Pages: 230
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