Artificial Intelligence as a Service (AIaaS) Market 2018-2023 Global Prominent Key Players are IBM Corporation, Google Inc., AWS, Microsoft Corporation, Salesforce, Baidu, SAP SE, Intel Corporation etc.

Market Synopsis:

Global Artificial Intelligence (AI) as a Service Market was valued in the range of USD 1-2 Billion in 2017 and is estimated to reach market value of USD 6-7 Billion by 2023 growing with 36% CAGR during forecast period 2018-2023. Increasing investment by key players in the development of artificial intelligence technology, rising trend of introducing automation in businesses, increment in number of start-ups, and increasing demand for AI enabled APIs & SDKs are some of the prime driving factors for the growth of this market in the coming years.

Development in technologies such as machine learning, deep learning, and natural language processing has transformed businesses to the next level. By integrating AI-enabled tools in processes or operations, businesses are simplifying their business problems, and structured & unstructured data. However, as these technologies requires high technical expertise to deal with complex algorithms, the cost incurred to the company for recruiting, and training is increasing. To cater this issue, the companies are now showing interest in outsourcing AI based solutions from third party vendors instead of developing them.

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Artificial Intelligence as a Service (AIaaS) can be defined as outsourcing of artificial intelligence enabled technology and solutions by an enterprise. AIaaS provides several benefits to an organization over traditional approach such as it provides advanced infrastructure at minimal cost, transparency in business operations, and scalability. However, data security issues, and lack of technical expertise are some of the major barriers for the growth of this market.

Key players:

IBM Corporation, Google Inc., AWS, Microsoft Corporation, Salesforce, Baidu, SAP SE, Intel Corporation, Fair Isaac Corporation (FICO), BigML, Absolutdata, Fuzzy.AI, Vital AI, Rainbird Technologies, Craft.AI, Sift Science, Mighty.AI, Cognitive Scale, Centurysoft, Yottamine Analytics, and Datarobot Meya.AI are some of the key players in Artificial Intelligence as a Service (AIaaS) market.

Segmentation:

The Global Artificial Intelligence (AI) as a Service Market is segmented into services type, technology, software, organization size, verticals and region.
By services, Artificial Intelligence as a Service (AIaaS) market is segmented into cognitive computing APIs, custom cognitive computing APIs, and conversational AI.
By technology, the market is segmented into machine learning & deep learning, and natural language processing.
By software, the market is further sub-segmented into data storage & archiving, modeler & processing, cloud & web-based application, and others.
By organization size, the Artificial Intelligence as a Service (AIaaS) market is segmented into SMEs and large enterprises.
By vertical, the market is classified into BFSI, healthcare, retail, telecommunication, government & defense, manufacturing and energy & power.
By region, the Artificial Intelligence as a Service (AIaaS)market is segmented into North America, Europe, Asia-Pacific, and Rest of the world.

Brief TOC of Artificial Intelligence as a Service (AIaaS) Market

1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.3 Research Objectives
2.4 Markets Structure
3 Research Methodology
4 Market Dynamics
4.1 Market Drivers
4.1.1 Increasing Investment By Key Players In The Development Of Artificial Intelligence Technology
4.1.2 Increment In Number Of Start-Ups
4.1.3 Increasing Demand For AI Enabled APIs & SDKs
4.2 Market Restraints
4.2.1 Lack Of Technical Expertise
4.3 Market Opportunities
4.3.1 Rising Trend Of Introducing Automation In Businesses
4.4 Market Challenges
4.4.1 Technical Complexities
4.4.2 Data Security
4.5 Value Chain Of AI As A Service
4.6 Porter’s Five Forces Analysis
4.6.1 Threat Of New Entrants
4.6.2 Bargaining Power Of Buyers
4.6.3 Threat Of Substitutes
4.6.4 Segment Rivalry
4.6.5 Bargaining Power Of Suppliers
5 Market Alerts
5.1 Impact Analysis Of Emerging Technologies
5.2 Use Cases
Continue…

Market Highlights:

Recently, in November 2018, Amazon Web Services introduced 13 new machine learning capabilities and services. Aws has also introduced Amazon SageMaker which will help developers in building and deploying machine learning models at low cost.
In September 2018, Microsoft Corporation introduced AI based APIs namely “Dynamic 365 AI” for sales, customer service and market insights. This API will help sales department in getting in-depth information about the prospects via sentiment analysis. Customer service API is expected to utilize naturla lanuage processing technology to understand and predict customer rellated issues.

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