The Europe No-code AI Platform Market would witness market growth of 25.4% CAGR during the forecast period (2023-2030).
No-code Al platforms give non-Al experts and non-programmers the resources they need to implement Al projects. They can be used in efforts by all practitioners and experts. Al platforms that don't require coding may not be as powerful as Al platforms that do. They continue to fulfill the crucial role of leveraging Al to create projects and software for a larger group of users, including beginners.
It is anticipated that an increasing number of Al businesses would have a favorable effect on the market. The distance between domain experts and Al specialists widens as the number of domain experts increases. Domain specialists are able to solve technology-related issues with the help of AI professionals' wide knowledge. Domain experts would have additional opportunities to interact with Al professionals and test their ideas using no-code Al tools.
Artificial intelligence (AI) has significantly impacted daily lives in recent years, owing to its potential to boost productivity and economic growth. The European Institute of Innovation and Technology (EIT), an organization of the European Union, is well-positioned to assist Europe in maximizing the potential of Artificial Intelligence and keeping up with the AI technological race because of its extensive network and comprehensive thematic coverage. 1,600 early-stage AI software firms are based in Europe and AI entrepreneurship is gaining popularity across the region. The value proposition of one in twelve companies now centers on AI. The UK, Germany, and France, three major AI players in Europe, are moving quickly from strategic frameworks to AI practices. With funding estimated to reach €1.14 billion in 2019, French AI startups received the greatest funding across Europe.
FinTech, HealthTech, MadTech (marketing, advertising, and technology), automotive, and business intelligence are listed by the European Commission as the top 5 industries in which AI businesses operate. European AI startups generated €6.7 billion in 2020, nearly twice as much as in 2017. Future AI practices will maintain the EU's dominant position in the digitized B2B sector while constructing the next edge-cloud ecosystem as cloud architecture shifts from a consumer-focused, centrally based model to an industrialized and distributed edge-cloud architecture. Since these tools are so widely used and are in demand, the market will grow quickly.
The Germany market dominated the Europe No-code AI Platform Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1,115.3 million by 2030. The UK market would showcase a CAGR of 24.3% during (2023 - 2030). Additionally, The France market is anticipated to grow at a CAGR of 26.3% during (2023 - 2030).
Based on Component, the market is segmented into Platform (Without Services) and Services. Based on Technology, the market is segmented into Natural Language Processing, Computer Vision, Predictive Analytics, and Others. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Deployment Type, the market is segmented into On-premise and Cloud. Based on End-use, the market is segmented into Telecom & IT, BFSI, Retail & E-Commerce, Healthcare & Lifesciences, Government, Energy & Utilities and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide No-code AI Platform Market is Projected to reach USD 17.5 Billion by 2030, at a CAGR of 25.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Amazon.com, Inc., Google LLC (Alphabet Inc.), Microsoft Corporation, DataRobot, Inc., QuickBase, Inc., Akkio, Inc., Caspio, Inc., Clarifai, Inc., and Levity AI GmbH.
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