Artificial Intelligence as a Service (AIaaS) Market: Demand, Overview, Price and Forecasts To 2023
Global Artificial Intelligence as a Service (AIaaS) Market, By Technology (Deep Learning, Machine Learning, Natural Language Processing), By Vertical (Government, BFSI, Healthcare, Manufacturing, Retail, Telecommunication) — Forecast till 2023
Artificial Intelligence as a Service (AIaaS) Market – Overview
The integration of automation in businesses is boosting the Artificial Intelligence as a Service market. Reports that evaluate the information and communication technology industry have been made available by Market Research Future which creates reports on several industry verticals that review the market growth and prospects. The market is anticipated to achieve incomes amounting to USD 7 billion approximately while increasing with a 36 % CAGR in the forecast period.
The advancement in the concepts of deep learning, machine learning, and natural language processing is boosting the Artificial Intelligence as a Service market. The growth in the popularity of AI-enabled tools is motivating the expansion of the market. Moreover, the benefits such as transparency in business operations and minimal cost of Artificial Intelligence as a Service is anticipated to create new prospects for growth in the coming years.
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Segmental Analysis
The segmentation of the Artificial Intelligence as a Service Market is conducted on the basis of technology, services type, software, verticals, organization size, and region. On the basis of services, the Artificial Intelligence as a Service market is segmented into custom cognitive computing APIs, cognitive computing APIs, and conversational AI. Based on technology, the Artificial Intelligence as a Service market is segmented into natural language processing and machine learning & deep learning. Based on the software, the Artificial Intelligence as a Service market is segmented into modeler & processing, data storage & archiving, cloud & web-based application, and others. Based on organization size, the market for Artificial Intelligence as a Service (AIaaS) is segmented into large enterprises and SMEs. On the basis of vertical, the market is segmented into government & defense, BFSI, retail, healthcare, telecommunication, manufacturing, and energy & power. Based on the region, the Artificial Intelligence as a Service market is segmented into Europe, Asia Pacific, North America, and the rest of the world.
Key Players
The significant companies in Artificial Intelligence as a Service (AIaaS) market are Google Inc., AWS, Microsoft Corporation, Salesforce, SAP SE, Fair Isaac Corporation (FICO), BigML.bsolutdata, Fuzzy.AI, Vital AI, Rainbird Technologies, Craft.AI, Intel Corporation, IBM Corporation, Sift Science, Mighty.AI, Cognitive Scale, Baidu, Centurysoft, Yottamine Analytics, and Datarobot Meya.AI.
Detailed Regional Analysis
The regional evaluation of the Artificial Intelligence as a Service (AIaaS) Market includes regions such as Europe, Asia Pacific, North America, and the rest of the world. The North American region is commanding the market for artificial intelligence as a service market as is the initial adopter of advanced technologies such as artificial intelligence. The Asia Pacific and European region shadows the North American region. Also, innovative infrastructure, advanced network technologies, and elevated technical skills are some other factors powering the market development of the Artificial Intelligence as a Service (AIaaS) market in this region. The U.S. is presently controlling the market as a big portion of the revenue has been generated by the main players located in this country. The Asia Pacific regional market is projected to develop with the highest CAGR during the forecast period. South Korea, China, and Japan are the foremost innovators in the artificial intelligence domain in the region. China and South Korea are investing seriously in rising automation technologies for industries which is one of the major driving factors for the implementation of artificial intelligence in these countries.
Competitive Analysis
The absorbed charges in the market are easily dealt with, freeing up more resources for the progress in the market. The evolution of the market is chiefly due to the reductions in profile-raising and miscellaneous expenses. The competency of the market is bolstered by the reconditioned nature of the assets existing in the market. The market is anticipated to achieve an unequivocal lead in the market place credited to amended strategies in specific areas. Also, the deals being devised in the market are presumed to inspire the expansion of the market in the approaching years. A strengthened growth pace is observed in the market due to the productive effect exerted both externally and internally by key driving factors. The firms operating in the market are insistently dealing with the deterrents to growth and are making approaches that are likely to influence a beneficial consequence with regards to the market’s advancement.
LIST OF TABLES
Table 1 Artificial Intelligence As A Service (AIaaS)Market, By Region, 2019–2023
Table 2 North America: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023
Table 3 Europe: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023
Table 4 Asia-Pacific: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023
Table 5 Rest Of The World: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023
Continued……
LIST OF FIGURES
FIGURE 1 Global Artificial Intelligence As A Service (AIaaS)Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Artificial Intelligence As A Service (AIaaS)Market
FIGURE 4 Value Chain/Supply Chain Of Global Artificial Intelligence As A Service (AIaaS)Market
FIGURE 5 Share Of Global Artificial Intelligence As A Service (AIaaS)Market In 2019, By Country (In %)
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