The cloud artificial intelligence (ai) solutions global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cloud Artificial Intelligence (AI) Solutions Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cloud artificial intelligence (AI) solutions market size has grown exponentially in recent years. It will grow from $49.55 billion in 2023 to $61.74 billion in 2024 at a compound annual growth rate (CAGR) of 24.6%. The growth in the historic period can be attributed to rise of industrial internet of things (iiot), data explosion in industrial processes, cost-effective scalability, real-time analytics requirements, enhanced connectivity with edge computing.
The cloud artificial intelligence (AI) solutions market size is expected to see exponential growth in the next few years. It will grow to $147.32 billion in 2028 at a compound annual growth rate (CAGR) of 24.3%. The growth in the forecast period can be attributed to edge-to-cloud integration, ai and machine learning advancements, 5g network deployment:, energy efficiency concerns, customization and industry-specific solutions. Major trends in the forecast period include digital twin technology, fog and edge computing integration, blockchain for security, 5g network integration, digital twins for simulation.
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Scope Of Cloud Artificial Intelligence (AI) Solutions Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cloud Artificial Intelligence (AI) Solutions Market Overview
Market Drivers –
The rise in demand for smart devices is expected to propel the growth of the cloud artificial intelligence (AI) solutions market going forward. Smart devices are electronic devices that are generally connected to other devices or networks via different wireless protocols, such as Bluetooth, Zigbee, Wi-Fi, or 5G, and that can operate to some extent interactively and autonomously. Cloud AI services help smart devices by offloading resource-intensive AI processing tasks to remote servers, which are part of a cloud computing infrastructure. For instance, in 2023, according to an article published in Oberlo, a drop shipping app, the number of households using smart home devices increased from 57.4 million households in 2022 to over 60.4 million households in 2023, which was 3% more than in 2022. Therefore, the rise in demand for smart devices is driving the growth of the cloud artificial intelligence (AI) solutions market.
Market Trends –
Major companies operating in the cloud artificial intelligence (AI) solutions market are developing innovative products, such as Google Cloud Vertex AI Vision, to simplify the process of building analytics. Google Cloud Vertex AI Vision is an AI-powered computer vision platform that allows users to ingest, analyze, and store video data. For instance, in May 2021, Google LLC, a US-based technology company, launched Google Cloud Vertex AI Vision. It provides a canvas to build end-to-end machine learning pipelines covering the ingestion of real-time data, analysis of data for insights using general and custom vision AI models, and storage of insights in Vision Warehouse for simplified querying and metadata information. Vertex AI Vision’s serverless architecture allows users to stream real-time video and images quickly and conveniently to build out their computer vision applications easily. The platform offers a choice of ML models for occupancy analytics, person blur, person or vehicle detection, and motion filtering.
The cloud artificial intelligence (ai) solutions market covered in this report is segmented –
1) By Type: Solution, Services
2) By Technology: Deep Learning, Machine Learning, Natural Language Processing, Other Technologies
3) By End-User: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecom, Healthcare, Retail, Energy And Utilities, Manufacturing, Government, Other End Users
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Regional Insights –
North America was the largest region in the cloud artificial intelligence (AI) solutions market in 2023. The regions covered in the cloud artificial intelligence (AI) solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cloud artificial intelligence (AI) solutions market report are Apple Inc., Huawei Cloud, Amazon Web Services, Microsoft Azure, Cisco Systems Inc., Oracle Corporation, Nvidia Corporation, Salesforce Inc., Google Cloud, Tata Consultancy Services, Capgemini SE, IBM Cloud, Cognizant Technology Solutions Corporation, Infosys Limited, Baidu Inc., ZTE Corp., DXC Technology, HCL Technologies, Atos SE, Alibaba Cloud, Wipro Ltd., Nuance Communications Inc., Verint Systems Inc., MicroStrategy Incorporated, SoundHound Inc., H2O.ai
Table of Contents
1. Executive Summary
2. Cloud Artificial Intelligence (AI) Solutions Market Report Structure
3. Cloud Artificial Intelligence (AI) Solutions Market Trends And Strategies
4. Cloud Artificial Intelligence (AI) Solutions Market – Macro Economic Scenario
5. Cloud Artificial Intelligence (AI) Solutions Market Size And Growth
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27. Cloud Artificial Intelligence (AI) Solutions Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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