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The global artificial intelligence-as-a-service market size reached US$ 5.29 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 54.93 Billion by 2027, exhibiting a growth rate (CAGR) of 44.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Artificial intelligence-as-a-service (AIaaS) refers to the outsourcing of artificial intelligence (AI) for enabling companies to explore and expand AI techniques at a minimal cost. It relies on cloud computing models to leverage AI and add substantial flexibility in organizational operations for enhancing efficiency and driving productivity levels. Additionally, it helps access AI capabilities via application programming interfaces (APIs) and tools without the requirement of writing complex codes. As a result, AIaaS finds extensive applications in information and technology (IT), telecommunication, retail, manufacturing, energy and utility, healthcare, and banking, financial services, and insurance (BFSI) sectors worldwide.
At present, there is a rise in the use of AI technology in numerous organizations for their applications, businesses, analytics, and services. This, along with the growing demand for cloud-based machine learning (ML) for reducing operational costs and increasing profit margins, represents one of the key factors driving the market. Moreover, governments of several countries are extensively investing in the development of AI-based infrastructure. This, coupled with the rising trend of multi-cloud management strategies across the globe, is propelling the growth of the market. In addition, the increasing employment of AI technology in the BFSI industry to offer a better consumer experience is positively influencing the market. Besides this, the escalating need for predictive and smart automation in business processes to increase service and product portfolio is offering lucrative growth opportunities to industry investors. Furthermore, the increasing usage of AI technology in various internet of things (IoT) devices by electronic manufacturers for natural language generation, virtual agents, and speech recognition is projected to bolster the growth of the market in the coming years.
IMARC Group provides an analysis of the key trends in each sub-segment of the global artificial intelligence-as-a-service market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on technology, organizations size and vertical.
Breakup by Technology:
Breakup by Organizations Size:
Breakup by Vertical:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc.), Arm Limited (SoftBank Group Corp.), DataRobot Inc., FICO, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Nividia Corporation, Oracle Corporation, Salesforce Inc., SAP SE and SAS Institute Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Technology, Organizations Size, Vertical, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||Amazon Web Services Inc. (Amazon.com Inc.), Arm Limited (SoftBank Group Corp.), DataRobot Inc., FICO, Intel Corporation, International Business Machines Corporation, Microsoft Corporation, Nividia Corporation, Oracle Corporation, Salesforce Inc., SAP SE and SAS Institute Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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