The Business Research Company’s Artificial Intelligence Software As A Service (SaaS) Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Artificial Intelligence Software As A Service (SaaS) Global Market Report 2023 evaluates artificial intelligence software as a service (SaaS) market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global artificial intelligence software as a service (SaaS) market is expected to grow from $138.09 billion in 2022 to $188.33 billion in 2023 at a compound annual growth rate (CAGR) of 36.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The artificial intelligence software as a service (SaaS) market is expected to reach $643.87 billion in 2027 at a CAGR of 36.0%.
The rise in the adoption of cloud-based solutions is expected to propel the growth of the artificial intelligence software as a service (SaaS) market going forward. A cloud-based solution is a concept for providing on-demand access to a shared pool of configurable applications and services that can be quickly deployed and delivered via the internet with low administration work. Artificial intelligence SaaS providers offer services to a broader customer base by leveraging cloud infrastructure, eliminating the need for extensive hardware or on-premises installations, and lowering the barriers to entry for businesses looking to incorporate AI into their operations, as they can easily access AI capabilities through a subscription-based model. For instance, in April 2023, according to the Office of Communications, a UK-based intergovernmental organization, global end-user spending on public cloud services is expected to rise by 20.7% from 2022 to 2023, reaching £477.7 billion ($524.41 billion) from 2022 to £395.7 billion ($434.40billion) in 2023. Furthermore, in December 2021, according to an article published by Eurostat, a Luxembourg-based statistics body for the European Union, 41% of organizations reported using cloud computing services in 2021, a 5-percentage point (pp) increase from 36% in 2020. Therefore, the rise in the adoption of cloud-based solutions drives the artificial intelligence software as a service (SaaS) market.
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The artificial intelligence software as a service (SaaS) market segments in the report are:
1) By Deployment: Cloud-Based, On-Premise
2) By Organization Size: Large Enterprise, Small And Medium Enterprise
3) By Vertical: Banking, Financial Services, And Insurance (BFSI), Retail And E-Commerce, Healthcare And Life Sciences, IT( Information Technology ) And ITeS(Information
Technology Enabled Services), Telecommunications, Government And Defense, Manufacturing, Energy And Utilities, Other Verticals
The table of contents in TBRC’s artificial intelligence software as a service (SaaS) market report includes:
1. Executive Summary
2. Artificial Intelligence Software As A Service (SAAS) Market Characteristics
3. Artificial Intelligence Software As A Service (SAAS) Market Trends And Strategies
4. Artificial Intelligence Software As A Service (SAAS) Market – Macro Economic Scenario
5. Global Artificial Intelligence Software As A Service (SAAS) Market Size and Growth
…….
32. Global Artificial Intelligence Software As A Service (SAAS) Market Competitive Benchmarking
33. Global Artificial Intelligence Software As A Service (SAAS) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence Software As A Service (SAAS) Market
35. Artificial Intelligence Software As A Service (SAAS) Market Future Outlook and Potential Analysis
36. Appendix
Top Major Players:
Amazon Web Services Inc.
International Business Machines Corporation
SAP SE
Salesforce Inc.
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