Global Artificial Intelligence as a Service Market – Industry Trends and Forecast to 2028

Market Analysis and Insights : Global Artificial Intelligence as a Service Market       

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. Data Bridge Market Research report on artificial intelligence as a service provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.

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.

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.

This artificial intelligence as a service market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the artificial intelligence as a service market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Global Artificial Intelligence as a Service Market Scope and Market Size

The artificial intelligence as a service market is segmented on the basis of technology, cloud, service type, enterprise size and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.

• Based on technology, the artificial intelligence as a service market is segmented into machine learning and deep learning and natural language processing.
• On the basis of cloud, the artificial intelligence as a service market is segmented into public, private and hybrid.
• The artificial intelligence as a service market is segmented on the basis of service type into software tools and services. Software tools have further been segmented into data storage and archiving, modeler and processing, cloud and web-based application programming interface and others. Services have further been segmented into professional services and managed services.
• On the basis of enterprise size, the artificial intelligence as a service market is segmented into small and medium enterprises and large enterprises.
• The end user segment of the artificial intelligence as a service market is segmented into banking, financial services, and insurance, healthcare and life sciences, telecommunication, retail, government and defense, manufacturing, energy and others. Banking, financial services, and insurance has further been segmented into fraud and risk management, customer segmentation, sales and marketing campaign management, investment prediction, digital assistance and others. Healthcare and life sciences have further been segmented into disease identification and diagnosis, image analytics, personalized treatment, drug discovery/manufacturing and others. Telecommunication has further been segmented into customer analytics, network security, network optimization and others. Retail has further been segmented into recommendation engines, upselling and cross-channel marketing, segmentation and targeting and others. Government and defense has further been segmented into autonomous and defense systems, threat intelligence and others. Manufacturing has further been segmented into predictive maintenance, revenue estimation, demand forecasting, supply chain management and others. Energy has further been segmented into power/energy usage analytics, seismic data processing, carbon emission, smart grid management and others.

Artificial Intelligence as A Service Market Country Level Analysis

The artificial intelligence as a service market is analyzed and market size, volume information is provided by country, technology, cloud, service type, enterprise size and end user as referenced above.

The countries covered in the artificial intelligence as a service market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).

North America leads the artificial intelligence as a service market because of the rise in adoption for cloud based and artificial intelligence services amongst various organizations in emerging countries such as US and Canada. Asia-Pacific is expected to expand at a significant growth rate of over the forecast period of 2021 to 2028 owing to increase in penetration of IT services and solutions and rise in e-commerce activity amongst various organizations to achieve precise and accurate business operations.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Artificial Intelligence as a Service Market Share Analysis

The artificial intelligence as a service market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to artificial intelligence as a service market.

The major players covered in the artificial intelligence as a service market report are IBM, Google, 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., and Yottamine Analytics Inc., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.

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