Overview and Scope
Artificial intelligence as a service (AIaaS) is a technology that provides artificial intelligence services through the cloud, allowing businesses to access AI capabilities without having to invest in expensive hardware or software. AIaaS offers organizations the ability to access and utilize AI technologies and services in a cost-effective, scalable, and flexible manner.
Sizing and Forecast
The artificial intelligence as a service (aiaas) market size has grown exponentially in recent years. It will grow from $10.42 billion in 2023 to $14.44 billion in 2024 at a compound annual growth rate (CAGR) of 38.6%. The growth in the historic period can be attributed to increasing demand for ai-driven solutions across industries, advancements in machine learning algorithms and deep learning technologies, growing adoption of cloud computing and big data analytics, need for cost-effective and scalable ai solutions, rise of iot and connected devices generating massive data, expansion of ai applications in healthcare, finance, retail, and other sectors, emphasis on automation and process optimization.
The artificial intelligence as a service (aiaas) market size is expected to see exponential growth in the next few years. It will grow to $54.08 billion in 2028 at a compound annual growth rate (CAGR) of 39.1%. The growth in the forecast period can be attributed to development of ai-powered virtual assistants and chatbots, availability of ai platforms and tools from major cloud service providers, integration of ai with edge computing for real-time decision-making, demand for personalized customer experiences and predictive analytics, government initiatives promoting ai adoption and research, increasing investment in ai startups and innovation hubs, growing awareness about the potential of ai in business transformation, need for ai expertise and talent in organizations. Major trends in the forecast period include advancements in ai technology, predictive and analytics solutions, advancements in cloud computing infrastructure, advancements in cloud computing technology, upcoming machine translation.
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Segmentation & Regional Insights
The artificial intelligence as a service (aiaas) market covered in this report is segmented –
1) By Type: Services, Software Solutions
2) By Cloud Type: Public Cloud, Hybrid Cloud, Private Cloud
3) By Technology: Natural Language Processing, Machine Learning, Computer Vision, Deep Learning, Other Technologies
4) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
5) By Industry: IT And Telecom, Healthcare, Energy And Utility, Manufacturing, Retail, Government, Banking, Financial Services, And Insurance, Other Industries
North America was the largest region in the artificial intelligence as a service (AIaaS) market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence as a service (aiaas) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rise in the artificial intelligence dependence of businesses is expected to propel the growth of the artificial intelligence as a service (AIaaS) market going forward. Artificial intelligence (AI) in business refers to the use of intelligent computer software with human-like capabilities to boost revenue, improve customer experience, increase productivity and efficiency, and drive business growth and transformation. Artificial intelligence as a service (AIaaS) is used in businesses to provide access to pre-built AI models and tools through the cloud, that empowers businesses of all sizes to leverage the power of AI without the hefty upfront investments and technical expertise required for in-house development. For instance, in May 2022, according to The International Business Machines Corporation, a US-based technology corporation, a poll conducted of 7,502 businesses found that 35–36% of global companies were already implementing AI, and 42–64% were exploring its potential. Further, 64% of businesses believe that AI will improve business productivity, and 42% believe it will streamline job processes. Therefore, the rise in the artificial intelligence dependence of businesses is driving the growth of the artificial intelligence as a service (AIaaS) market.
Key Industry Players
Major companies operating in the artificial intelligence as a service (aiaas) market report are Apple Inc, Google LLC, Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Hitachi Ltd., Amazon Web Services Inc., Siemens AG, Intel Corporation, Accenture Plc, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc., NVIDIA Corporation, Fujitsu Ltd., Cognizant Technology Solutions Corp., ZTE Corporation, Baidu Inc., Infosys Ltd., Super Micro Computer Inc, SAS Institute Inc., Arm Limited (SoftBank Group Corp.), Fair Isaac Company (FICO), DataRobot Inc., Cognitivescale Inc., Iris.AI, BigML Inc, Atomwise Inc., craft.AI
The artificial intelligence as a service (aiaas) market report table of contents includes:
- Executive Summary
- Artificial Intelligence As A Service (AIaaS) Market Characteristics
- Artificial Intelligence As A Service (AIaaS) Market Trends And Strategies
- Artificial Intelligence As A Service (AIaaS) Market – Macro Economic Scenario
- Global Artificial Intelligence As A Service (AIaaS) Market Size and Growth
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- Global Artificial Intelligence As A Service (AIaaS) Market Competitive Dashboard
- Key Mergers And Acquisitions In The Artificial Intelligence As A Service (AIaaS) Market
- Artificial Intelligence As A Service (AIaaS) Market Future Outlook and Potential Analysis
- Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Artificial Intelligence As A Service (AIaaS) Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Artificial Intelligence As A Service (AIaaS) Market, Segmentation By Cloud Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Artificial Intelligence As A Service (AIaaS) Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 76: Apple Inc Financial Performance
Table 77: Google LLC Financial Performance
Table 78: Microsoft Corporation Financial Performance
Table 79: Dell Technologies Inc. Financial Performance
Table 80: Huawei Technologies Co. Ltd. Financial Performance
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