The utilization of market research reports has become indispensable for businesses, serving as a catalyst for informed decision-making, revenue amplification, prioritization of market objectives, and the fostering of profitable ventures. Within this artificial intelligence as a service market report, meticulous research and analysis consistently furnish businesses with a comprehensive understanding of existing market landscapes, anticipated market trends, competitive dynamics, and strategies to surpass rivals. Forecasts regarding the fluctuation of the CAGR value over a specific period, and identification of market drivers, limitations, and competitive strategies are diligently assessed in the artificial intelligence as a service market report.
This comprehensive global market research report offers a panoramic overview of the market, encompassing diverse facets such as product definitions, segmentation based on varied parameters, and the prevailing vendor terrain. artificial intelligence as a service market's business-centric market research report not only ensures market awareness but also provides a holistic perspective. It furnishes market potential for each geographical region, evaluating growth rates, macroeconomic indicators, consumer preferences, purchasing patterns, and prevailing supply-demand scenarios.
The artificial intelligence as a service market size is valued at USD 49.33 billion by 2028 is expected to grow at a compound annual growth rate of 35.30% in the forecast period of 2021 to 2028.
Definition
Artificial intelligence as a service usually refers to companies that provide out-of-the-box AI solutions. Artificial intelligence and machine learning technologies are broadly used to reinvention, mechanize business process operations and to give competitive and innovative product offerings by leveraging artificial intelligence as a service.
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Key Growth Drivers:
The high demand for predictive and smart automation in business processes to increase service and product portfolio in various organizations across the globe is expected to influence the growth of artificial intelligence as a service market over the forecast period of 2021 to 2028. Also the rise in adoption of artificial intelligence technology in various IoT devices by electronic manufactures such as natural language generation, virtual agents, speech recognition and machine learning platform is also anticipated to flourish the growth of the artificial intelligence as a service market. Furthermore, the increase in demand for AI-powered services in the form of API and SDK and large number of innovative startups are also likely to positively impact the growth of the market. Moreover, the increase in adoption of advanced commodity services such as software as a service (SaaS), infrastructure as a service (IaaS) and business process as a service (BPaaS) among various information technology (IT) organizations is also expected create a huge demand for artificial intelligence as a service as well as lifting the growth of the artificial intelligence as a service market.
However, the lack of skilled employees and sensitivity involved with security of data are expected to act as the major limitations for the growth of artificial intelligence as a service in the above mentioned forecasted period, whereas the lack of regulatory standards can challenge the artificial intelligence as a service market growth in the forecast period of 2021 to 2028.
Likewise, the rise in need for intelligent business applications and high demand for AI service integrators are expected to create various new opportunities that will lead to the growth of the artificial intelligence as a service market in the above mentioned forecasted period.
The report emphasizes the participation of key entities, notably:
- IBM
- Microsoft
- Salesforce
- Amazon Web Services, Inc.
- FICO
- SAS Institute, Inc.
- IRIS AI
- SAP SE
- BigML, Inc.
- Absolutdata
- Rainbird Technologies Ltd.
- Sift
- Intel Corporation
- Centurysoft
- Qualcomm
- Siemens
- Next IT Corp
- DataRobot, Inc.
- Yottamine Analytics Inc.
Major Points in the Report
- Understanding the entirety of the Artificial Intelligence As A Service Marketlandscape thoroughly.
- Exploring the leading entities in this sector, delving into their range of products and core approaches.
- Examining the prominent geographical areas where Artificial Intelligence As A Service Marketdemonstrates significant growth.
- Keeping abreast of the latest shifts and advancements within the industry.
- Identifying specific areas or markets with high potential and promising expansion opportunities.
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Key Market Segmentation
By Technology (Machine Learning and Deep Learning, Natural Language Processing), Cloud (Public, Private, Hybrid), Service Type (Software Tools, Services), Deployment Mode (Cloud-Based, On-Premises), Enterprise Size (Small and Medium Enterprises, Large Enterprises), End User (Banking, Financial Services, and Insurance, Healthcare and Life Sciences, Telecommunication, Government and Defense, Manufacturing, Energy, Others)
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