Palantir Ranked No. 1 in Worldwide Artificial Intelligence Software Study in Market Share and Revenue
Palantir Technologies Inc., a leading builder of operating systems for the modern enterprise, announced it was ranked the No. 1 Artificial Intelligence (AI) software platform both in 2021 market share and revenue, according to the IDC, Worldwide Artificial Intelligence Platforms Software Market Shares, 2021: AI is Being Used in More Unique Ways Than Ever (doc #US49602222, September 2022) report.
According to IDC, the market for AI platforms software grew 36.8% in 2021, equating to a $14.2 billion industry. A clear indicator of how embedded and pervasive AI has become across all business applications. The report also found that early adopters report 35% improvement in innovation and 33% improvement in sustainability by investing in AI over the past three years.
The increasingly broad adoption of Palantir’s Foundry and Gotham offerings across some the world’s most important organizations has been driven by the willingness of institutions to innovate and adapt with AI enabling platforms.
“In a time where AI is having a profound impact across various industries, the software providers that can continually innovate and drive success for their clients are more important than ever. Palantir has demonstrated its clear leadership in AI on a global scale from both a market share and revenue perspective and are on a trajectory to continue to do so,” said Ritu Jyoti, IDC’s Group VP, AI and Automation. “We predict that the growth of the AI sector is nowhere near slowing down and we’re excited to see how Palantir continues to separate itself from the competition by solving the toughest business challenges out there with their platforms.”
“The most significant arms race of our time is to construct the next generation of AI that is both effective and responsible. While most companies are content with addressing the idiosyncratic needs and inefficiencies of select customers in a subset of industries, the market we seek to address is essentially unlimited,” said Alex Karp, Palantir’s CEO & Co-Founder. “The development of our software is not intended to merely magnify in a linear and direct fashion the output of human labor. Instead, our software aspires to augment and accentuate the productive power of the human mind.”
Palantir Foundry is designed to transform the way organizations operate by creating a central operating system for their data, integrating siloed data sources into a common analytics and operations picture, while supporting critical data privacy and security protections. This can be achieved by implementing stand-alone modules such as the Foundry Data Integration Suite, or by implementing the entire Foundry platform.
Palantir’s software is currently deployed in more than 50 industries, and helps power decisions in some of the most complex data environments in the world, including manufacturing, health sciences, finance, and government.