Artificial Intelligence as a Service (AIaaS) Market – Segmented by Type, Enterprise Size, End-User Industry, and Geography (2018 to 2023)

The report published by Knowledge Sourcing Intelligence titled “Artificial Intelligence as a Service (AIaaS) Market- Forecast From 2018 to 2023” studies the various factors affecting the demand for Artificial Intelligence as a Service across the globe. The report has been segmented by type (bots and digital assistance, cognitive computing APIs, machine learning frameworks, and fully-managed machine learning services), by enterprise size (small, medium, and large), by end-user industry (BFSI, retail, communication and technology, healthcare, manufacturing, and others), and by geography, covering five regions namely North America, South America, Europe, Middle East and Africa and the Asia Pacific, and some of the major economies in each of these regions.

Growing adoption of artificial intelligence (AI) across various enterprises for predictive maintenance, localization and mapping, predicting and thwarting security threats, and marketing and sales operations is significantly driving the growth of AI as a service market. Increasing investments in R&D by major market players to develop novel applications of AI across various end-user industries is another factor that is boosting the growth of AI as a service market. Growing investments in AI by public cloud providers to attract customers to their platforms will continue to bolster the growth of AIaaS market during the forecast period.

Healthcare industry holds significant market share in the AIaaS market
By end-user industry, Artificial Intelligence (AI) as a Service market is segmented into BFSI, retail, communication and technology, healthcare, manufacturing, and others. Healthcare segment accounted for significant market share in 2017 owing to the rapid adoption of AI inside the global healthcare industry. AI technologies in this sector allow efficient collection of individual patient data as well as more in-depth data for conditions such as asthma, heart conditions, and Parkinson’s tremors. Furthermore, the sector is witnessing assistance in AI-driven diagnostics that allow sortation of massive amount of data all at once and suggest possible conditions as well as ways to treat them.

North America holds a major market share
Geographically, Artificial Intelligence as a Service (AIaaS) market is segmented into North America, South America, Europe, Middle East and Africa, and Asia Pacific. North America accounted for the major market share in 2017 owing to the presence of major market players and emerging startups in the region and early adoption of new technologies across various end-user industries in countries like the U.S. and Canada. Favorable government policies and initiatives to boost the adoption of AI across various industries will also contribute to the growth of North America AIaaS market during the forecast period. For example, the U.S. president Trump has recently signed an executive order to prioritize AI research in the country, launching a U.S. AI Initiative called ‘Maintaining American Leadership in Artificial Intelligence’.

This report also includes a study of strategies and product portfolios of some of the leading companies in the Artificial Intelligence as a Service (AIaaS) market. It consists of company profiles of the leading companies- Amazon Web Services (AWS), Microsoft, Google Cloud, IBM, Oracle, BMC, Salesforce, Intel, Baidu, and Apple.

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Knowledge Sourcing Intelligence (KSI) is a market research and consulting organization based out of India. KSI publishes research studies spanning across ten industry verticals. KSI has a team of experienced and young professionals with a singular focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports per year centering on niche and latest technologies. We engage with key decision makers and stakeholders across the value chain to provide clients with a detailed analysis and bird’s-eye view of the market with whole market dynamics, statistical forecasts, competitive analysis, key trends, market drivers and challenges and strategic recommendations for making informed decisions. Our success lies in the effort of our analysts who strive to meet client expectations by delivering quality work within the stipulated deadlines.

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