Artificial Intelligence as a Service (AIaaS) Market Report Segmentation, Market Players, Trends 2023

Market Overview

In its research study, Market Research Future (MRFR), emphasizes that over the review period, the global Artificial Intelligence as a Service (AIaaS) Market Report 2020 is projected to rise exponentially, ensuring a significant market valuation of USD up to 7 trillion by 2023, and a healthy 36 percent CAGR over the review.

The Artificial Intelligence as a Service (AIaaS) Market Report is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on the Artificial Intelligence as a Service (AIaaS) Market Report highlights the future prediction and the growth alternatives that can be created.

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Competitive Analysis

The major market players operating in the global market as identified by MRFR are IBM Corporation, Google Inc., AWS, Microsoft Corporation, Salesforce, SAP SE, Baidu, Intel Corporation, Fair Isaac Corporation (FICO), and BigML.

Absolutdata, Fuzzy.AI, Vital AI, Rainbird Technologies, Sift Science, Craft.AI, Mighty.AI, Yottamine Analytics, Cognitive Scale, Centurysoft, and Datarobot Meya.AI are some other prominent players in the market.

Drivers and constraints

Rising the investment by key players in artificial intelligence technology growth, growing developments in enterprise automation, rising number of start-ups and increasing demand for AI-enabled APIs & SDKs are some of the main drivers for this market's growth in the years to come.

Development of technology such as machine learning, deep learning and the processing of natural language has pushed companies into the next level. Businesses simplify their business problems by incorporating AI-enabled resources into processes or activities, and structured & unstructured data. However, because these innovations require high technological skills to manage complex algorithms, the company's recruiting costs are rising, and training is on the rise. The businesses are now showing interest in contracting AI-based solutions from third-party vendors to resolve this problem, rather than creating them.

Artificial Intelligence as a Service (AIaaS) can be described as an enterprise outsourcing the technology and solutions enabled by artificial intelligence. AIaaS offers many advantages over conventional approach to an enterprise, as it provides advanced technology at minimal cost, consistency in business processes, and scalability. Data security concerns, however, and lack of technological expertise are some of the major barriers to that market's development.

Segmental Analysis

The Global Artificial Intelligence as a Service (AIaaS) Market Report is analyzed based on the technology, services type, organization size, software, verticals and region.

Based on the services, the market is segmented into custom cognitive computing APIs, cognitive computing APIs, and conversational AI.

Based on the technology, the market is bifurcated into natural language processing and machine learning & deep learning.

By software, the market is further sub-segmented into modeler & processing, cloud & web-based application, data storage & archiving, and others.

By organization size, the global Artificial Intelligence as a Service (AIaaS) Market Report is divided into SMEs and large enterprises.

By vertical, the market is classified into government & defense, telecommunication, BFSI, healthcare, retail, manufacturing and energy & power.

Regional Analysis

The global market geographic overview was conducted in four major regions including Asia Pacific, North America, Europe and the rest of the world.

North America dominates the artificial intelligence industry as a business market led by Europe and the Asia-Pacific region. Early adopters of new technology such as artificial intelligence are North America. Advanced infrastructure, advanced network technologies and high technical skills are also some of the other factors that drive the Artificial Intelligence as a Service (AIaaS) Market Report growth in that area. Currently, the US dominates the market, with most of the revenue produced by key players located in this country.

The demand for Asia-Pacific Artificial Intelligence as a Service (AIaaS) is expected to expand with the highest CAGR during the 2018-2023 forecast period. China, Japan, and South Korea are main artificial intelligence innovators in the world. China and South Korea are investing heavily in the development of industrial automation technologies, which is one of the key driving forces for Artificial Intelligence adoption in these countries. India and Singapore are both expected to become an significant Artificial Intelligence as a Service (AIaaS) Market Report in coming years.

LIST OF TABLES

Table 1 Artificial Intelligence As A Service (AIaaS)Market, By Region, 2019–2023

Table 2 North America: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023

Table 3 Europe: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023

Table 4 Asia-Pacific: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023

Table 5 Rest Of The World: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023

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LIST OF FIGURES

FIGURE 1 Global Artificial Intelligence As A Service (AIaaS)Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis Of Global Artificial Intelligence As A Service (AIaaS)Market

FIGURE 4 Value Chain/Supply Chain Of Global Artificial Intelligence As A Service (AIaaS)Market

FIGURE 5 Share Of Global Artificial Intelligence As A Service (AIaaS)Market In 2017, By Country (In %)

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