Press release
Artificial Intelligence Software As A Service (SaaS) Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Artificial Intelligence Software As A Service (SaaS) Market Size
The increase in the utilization of cloud-based solutions is predicted to significantly contribute to the expansion of the artificial intelligence software as a service (SaaS) market. The premise of a cloud-based solution is to offer immediate access to a variety of configurable applications and services from a communal pool, which can be conveniently deployed through the internet with minimal supervision. By capitalizing on cloud infrastructure, artificial intelligence SaaS providers can cater to a wider customer base, by eliminating the necessity for substantial hardware or local installations. This also reduces the entry hurdles for businesses intending to integrate AI into their processes, as AI functionalities can be easily obtained through a subscription model. For example, data from the Office of Communications, a UK-based intergovernmental group, indicated in April 2023 that global user expenditure on public cloud services is projected to augment by 20.7% from 2022 to 2023, hitting £477.7 billion ($524.41 billion) from 2022's £395.7 billion ($434.40 billion). Consequently, the increasing adoption of cloud-based solutions stimulates the artificial intelligence software as a service (SaaS) market.
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What Is the projected market size and growth rate for the artificial intelligence software as a service (saas) market?
The market size of Software as a Service (SaaS) based on Artificial Intelligence has seen explosive growth in recent times. Its projection augments from $251.7 billion in 2024 to a substantial $338.94 billion in the year 2025, with a Compound Annual Growth Rate (CAGR) of 34.7%. Such significant growth in the historical duration is due to increased access to big data, advancement in cloud computing infrastructure, escalating demand for predictive analytics, expansion in the internet of things (IoT), and the widespread adoption of natural language processing (NLP).
Predictions suggest a meteoric rise in the size of the artificial intelligence software as a service (SaaS) market over the coming years, with an expected increase to $1240.38 billion in 2029, implying a compound annual growth rate (CAGR) of 38.3%. The anticipated growth during this projection period can be traced back to notable improvements in computing power, a surge in business intelligence applications, an increase in edge AI applications, industry-specific AI solutions, as well as focus on explainability in AI SaaS offerings, and customization and personalization of the AI SaaS services. The major trends predicted for this period entail the evolution of deep learning techniques, progress in AI-powered virtual assistants, advancements in machine learning algorithms, the formation of industry 4.0 AI SaaS solutions, and the progressive evolution of AI SaaS for continuous learning and adaptation.
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What new trends are reshaping the artificial intelligence software as a service (saas) market and its opportunities?
Technological advancements are becoming increasingly influential in the artificial intelligence software as a service (SaaS) industry. To solidify their place in the market, dominant corporations in the artificial intelligence SaaS sector are launching innovative solutions. For example, SmartSimple Software Inc., a software company based in Canada that designs and markets a cloud-hosted business process automation system, unveiled its SmartSimple Cloud +AI in March 2023. This platform offers transformative, comprehensive AI support for the grant management process, enhancing efficiency and substantially reducing administrative overhead. It leverages the strong foundation of SmartSimple Cloud to enable funders to utilize AI throughout the grant procedure. SmartSimple Cloud + AI assists funders throughout the grant awarding process by responding to inquiries initiated by humans and workflows. This program seamlessly integrates into the SmartSimple Cloud environment, enabling users to interact with AI directly through the SmartSimple Cloud interface.
What major market segments define the scope and growth of the artificial intelligence software as a service (saas) market?
The artificial intelligence software as a service (SaaS) market covered in this report is segmented -
1) By Deployment: Cloud-Based, On-Premise
2) By Organization Size: Large Enterprise, Small And Medium Enterprise
3) 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
Subsegments:
1) By Cloud-Based: Public Cloud Solutions, Private Cloud Solutions, Hybrid Cloud Solutions
2) By On-Premise: Self-Hosted Solutions, Customizable On-Premise Deployments
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Which region dominates the artificial intelligence software as a service (saas) market?
North America was the largest region in the artificial intelligence software as a service (SaaS) market in 2024. The regions covered in the artificial intelligence software as a service (SaaS) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the artificial intelligence software as a service (saas) industry growth?
Major companies operating in the artificial intelligence software as a service (SaaS) market include Amazon Web Services Inc., International Business Machines Corporation, SAP SE, Salesforce Inc., NVIDIA Corp., Rockwell Automation Inc., UiPath Inc., Automation Anywhere Inc., C3.ai Inc., DataRobot Inc., H2O Innovations Inc., Blue River Technology Inc., Freenome Inc., AlphaSense Inc., Grammarly Inc., People.ai Inc., HyperScience, Rebellion Defense Inc., DataVisor Inc., Mighty AI, Vic.ai Inc., Kneron Inc., Adarga, OpenAI Inc., Clarifai Inc.
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What Is Covered In The Artificial Intelligence Software As A Service (SaaS) Global Market Report?
• Market Size Forecast: Examine the artificial intelligence software as a service (saas) market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the artificial intelligence software as a service (saas) market for a structured understanding.
• Key Players Overview: Analyze major players in the artificial intelligence software as a service (saas) market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the artificial intelligence software as a service (saas) market.
• Segment Contributions: Evaluate how different segments drive overall growth in the artificial intelligence software as a service (saas) market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the artificial intelligence software as a service (saas) market.
• Industry Challenges: Identify potential risks and obstacles affecting the artificial intelligence software as a service (saas) market.
• Competitive Landscape: Review strategic developments in the artificial intelligence software as a service (saas) market, including expansions, agreements, and new product launches.
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