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Artificial Intelligence Software As A Service (SaaS) Market Analysis 2023: Market Growth Rate, Competitive Landscape And Top Opportunities
Artificial Intelligence Software As A Service (SaaS) Market
The Business Research Company's Artificial Intelligence Software As A Service (SaaS) Global Market Report 2023 identifies rise in the adoption of cloud-based solutions as the major driver for the Artificial Intelligence Software As A Service (SaaS) market's growth in the forecast period. A cloud-based solution is a concept for providing on-demand access to a shared pool of configurable applications and services that can be quickly deployed and delivered via the internet with low administration work. Artificial intelligence SaaS providers offer services to a broader customer base by leveraging cloud infrastructure.
The global artificial intelligence software as a service (SaaS) market is expected to grow from $138.09 billion in 2022 to $188.33 billion in 2023 at a compound annual growth rate (CAGR) of 36.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and resulted in increased interest rates affecting many markets across the globe. The artificial intelligence software as a service (SaaS) market is expected to reach $643.87 billion in 2027 at a CAGR of 36.0%.
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Major competitors in the Artificial Intelligence Software As A Service (SaaS) market are Amazon Web Services Inc., International Business Machines Corporation, SAP SE, Salesforce Inc., NVIDIA Corp., Rockwell Automation Inc.
A key trend in the Artificial Intelligence Software As A Service (SaaS) market includes technological innovations. Major companies operating in the artificial intelligence SaaS market are introducing advanced solutions to strengthen their position in the market. For instance, in March 2023, SmartSimple Software Inc., a Canada-based software firm that develops and sells a hosted-on-the-cloud business process automation system, launched SmartSimple Cloud +AI. This software provides transformational, end-to-end AI help across the grant administration lifecycle, accelerating the process and decreasing the administrative load even more.
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The Artificial Intelligence Software As A Service (SaaS) market is segmented -
• By Deployment: Cloud-Based, On-Premise
• By Organization Size: Large Enterprise, Small And Medium Enterprise
• By Vertical: Banking, Financial Services, And Insurance (BFSI), Retail And E-Commerce, Healthcare And Life Sciences, IT( Information Technology ) And ITeS(Information Technology Enabled Services), Telecommunications, Government And Defense, Manufacturing, Energy And Utilities, Other Verticals
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Artificial Intelligence Software As A Service (SaaS) market.
The Business Research Company's "Global Artificial Intelligence Software As A Service (SaaS) Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Artificial Intelligence Software As A Service (SaaS) Market Include:
1. Executive Summary
2. Artificial Intelligence Software As A Service (SAAS) Market Characteristics
3. Artificial Intelligence Software As A Service (SAAS) Market Trends And Strategies
4. Artificial Intelligence Software As A Service (SAAS) Market - Macro Economic Scenario
5. Global Artificial Intelligence Software As A Service (SAAS) Market Size and Growth
………………………………………………………………………
32. Global Artificial Intelligence Software As A Service (SAAS) Market Competitive Benchmarking
33. Global Artificial Intelligence Software As A Service (SAAS) Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence Software As A Service (SAAS) Market
35. Artificial Intelligence Software As A Service (SAAS) Market Future Outlook and Potential Analysis
36. Appendix
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