Artificial Intelligence Services Market 2023 | Business Overview, Trends Analysis, Growth Rate, And Forecast To 2032
As per the artificial intelligence services market report by The Business Research Company, the rise in the adoption of cloud-based solutions is a key factor driving the growth of the artificial intelligence services market. Artificial intelligence (AI) as a service lets businesses experiment with AI for different activities without a high initial investment. Experimentation enables many cloud computing platforms to check different machine learning algorithms and helps streamline how data is analyzed and managed. Businesses are deeply interested in cloud-based machine learning, which lets them experiment through their services and help their clients make informed decisions based on the data.
The global artificial intelligence services market size will grow from $12.39 billion in 2022 to $18.34 billion in 2023 at a compound annual growth rate (CAGR) of 48.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global artificial intelligence services market size is expected to grow to $55.38 billion in 2027 at a CAGR of 31.8%.
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Major competitors in the artificial intelligence services market include Intel Corp., International Business Machines Corp., Microsoft Corp., SAP SE, SAS Institute Inc., Amazon.com Inc., Salesforce, Google LLC., Oracle Corporation, Fair Isaac Corporation, Alphabet Inc., Apple Inc., CognitiveScale, Inc., Baidu, Inc., BigML, H2O.ai and Baidu Inc.
The artificial intelligence services market is segmented -
• By Technology: Machine Learning, Computer Vision, Natural Language Processing (NLP), Other Technology
• By Services Type: Managed Services, Professional Services
• By Software Tools: Web-based and Cloud Application Programming Interface, Processing and Modeler, Archiving and Data Storage
• By Application Type: Fraud Detection, Data Analytics & Visualization, Customer Service and Management, Rsik Management, Compliance & Security
• By End-User: Banking, Financial, and Insurance (BFSI), IT & Telecom, Retail, Manufacturing, Public Sector, Energy & Utility, Healthcare, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the artificial intelligence services market.
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Artificial intelligence is a wide-ranging branch of computer science-related with building smart machines that can perform tasks that require human intelligence.
The Table Of Content For The Artificial Intelligence Services Market Include:
1. Executive Summary
2. Artificial Intelligence Services Market Characteristics
3. Artificial Intelligence Services Market Trends And Strategies
4. Artificial Intelligence Services Market - Macro Economic Scenario
5. Artificial Intelligence Services Market Size And Growth
6. Artificial Intelligence Services Market Segmentation
26. Africa Artificial Intelligence Services Market
27. Artificial Intelligence Services Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Artificial Intelligence Services Market
29. Artificial Intelligence Services Market Future Outlook and Potential Analysis
The "Global Artificial Intelligence Services Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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