Global Artificial Intelligence As A Service Market

Global Artificial Intelligence As A Service Market Size, Share, Growth Analysis, By Service Type(Software and Services), By Deployment(Public Cloud and Hybrid Cloud) - Industry Forecast 2023-2030

Report ID: SQMIG45I2071 | Region: Global | Published Date: June, 2023 | Pages: 242 | Tables: 59 | Figures: 75

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FAQ's

Artificial Intelligence As A Service Market size was valued at USD 5.45 billion in 2021 and is poised to grow from USD 8.08 billion in 2022 to USD 187.98 billion by 2030, growing at a CAGR of 48.2% in the forecast period (2023-2030).

Global artificial intelligence as a service market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of global artificial intelligence as a service market. 'IBM', 'Microsoft', 'Google', 'Amazon Web Services (AWS)', 'Oracle', 'SAP', 'Intel', 'General Electric (GE)', 'Baidu', 'HPE', 'NVIDIA', 'Infosys', 'Cognitivescale', 'Wipro', 'Ayasdi', 'Freenome', 'Salesforce', 'H2O.ai', 'CognitiveScale', 'Fractal Analytics'

Rising AIaaS adoption in the BFSI and healthcare industries

Cloud-based solutions are a key market trend driving the global artificial intelligence-as-a-service (AIaaS) market growth. The growing global acceptance of cloud computing services is increasing the popularity of cloud-based apps that can be used by a variety of end users. The benefits of cloud computing, such as low infrastructure computing costs, scalability, stability, and high resource availability, have forced organizations to adopt cloud-based solutions. Cloud computing reduces the need for dedicated IT support staff, reducing operating costs. Enterprises are implementing pay-per-use subscription services to reap maximum benefits. It will accelerate the adoption of cloud-based apps through service architecture.

On the basis of region, global artificial intelligence as a service market is divided into North America, Europe, Asia Pacific and MEA. North America dominated the market, accounting for more than 40% of the revenue. This expansion can be driven by advancements in technology and the growing acceptance of digital technology. Also, AI solution providers are prioritizing innovation and the development of artificial intelligence technologies that can be provided as market services. Additionally, government measures promote the use of AI in various businesses as well as the presence of developing economies such as Canada and the United States. The sector is one of the most important cognitive computing markets with many large companies and IT infrastructure, government data security legislation, and cloud application and security information services all contributing to market growth.

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