Press release
Artificial Intelligence As A Service (AIaaS) Market: Market Size, Growth Projections, and Competitive Landscape Analysis in Cloud Computing
Artificial Intelligence As A Service (AIaaS) Market
The Business Research Company presents an extensive market research report on the Artificial Intelligence As A Service (AIaaS) Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The artificial intelligence as a service (aiaas) market size has grown exponentially in recent years. It will grow from $10.42 billion in 2023 to $14.44 billion in 2024 at a compound annual growth rate (CAGR) of 38.6%. The growth in the historic period can be attributed to increasing demand for ai-driven solutions across industries, advancements in machine learning algorithms and deep learning technologies, growing adoption of cloud computing and big data analytics, need for cost-effective and scalable ai solutions, rise of iot and connected devices generating massive data, expansion of ai applications in healthcare, finance, retail, and other sectors, emphasis on automation and process optimization..
The artificial intelligence as a service (aiaas) market size is expected to see exponential growth in the next few years. It will grow to $54.08 billion in 2028 at a compound annual growth rate (CAGR) of 39.1%. The growth in the forecast period can be attributed to development of ai-powered virtual assistants and chatbots, availability of ai platforms and tools from major cloud service providers, integration of ai with edge computing for real-time decision-making, demand for personalized customer experiences and predictive analytics, government initiatives promoting ai adoption and research, increasing investment in ai startups and innovation hubs, growing awareness about the potential of ai in business transformation, need for ai expertise and talent in organizations.. Major trends in the forecast period include advancements in ai technology, predictive and analytics solutions, advancements in cloud computing infrastructure, advancements in cloud computing technology, upcoming machine translation.
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Key Market Players:
Major companies operating in the artificial intelligence as a service (aiaas) market report are Apple Inc, Google LLC, Microsoft Corporation, Dell Technologies Inc., Huawei Technologies Co. Ltd., Hitachi Ltd., Amazon Web Services Inc., Siemens AG, Intel Corporation, International Business Machines Corporation, Oracle Corporation, SAP SE, Salesforce Inc., NVIDIA Corporation, Fujitsu Ltd., Cognizant Technology Solutions Corp., ZTE Corporation, Baidu Inc., Infosys Ltd., Super Micro Computer Inc, SAS Institute Inc., Arm Limited (SoftBank Group Corp.), Fair Isaac Company (FICO), DataRobot Inc., Cognitivescale Inc., Iris.AI, BigML Inc, Atomwise Inc., craft.AI
Market Drivers:
The rise in the artificial intelligence dependence of businesses is expected to propel the growth of the artificial intelligence as a service (AIaaS) market going forward. Artificial intelligence (AI) in business refers to the use of intelligent computer software with human-like capabilities to boost revenue, improve customer experience, increase productivity and efficiency, and drive business growth and transformation. Artificial intelligence as a service (AIaaS) is used in businesses to provide access to pre-built AI models and tools through the cloud, that empowers businesses of all sizes to leverage the power of AI without the hefty upfront investments and technical expertise required for in-house development. For instance, in May 2022, according to The International Business Machines Corporation, a US-based technology corporation, a poll conducted of 7,502 businesses found that 35-36% of global companies were already implementing AI, and 42-64% were exploring its potential. Further, 64% of businesses believe that AI will improve business productivity, and 42% believe it will streamline job processes. Therefore, the rise in the artificial intelligence dependence of businesses is driving the growth of the artificial intelligence as a service (AIaaS) market.
Learn More About The Market Report -
https://www.thebusinessresearchcompany.com/report/artificial-intelligence-as-a-service-aiaas-global-market-report
The artificial intelligence as a service (aiaas) market covered in this report is segmented -
1) By Type: Services, Software Solutions
2) By Cloud Type: Public Cloud, Hybrid Cloud, Private Cloud
3) By Technology: Natural Language Processing, Machine Learning, Computer Vision, Deep Learning, Other Technologies
4) By Enterprise Size: Large Enterprises, Small And Medium Enterprises
5) By Industry: IT And Telecom, Healthcare, Energy And Utility, Manufacturing, Retail, Government, Banking, Financial Services, And Insurance, Other Industries
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