The Artificial Intelligence-as-a-Service (AIaaS) Market is expected to grow from USD 3.91 billion in 2020 to USD 43.298 billion by 2026 at a CAGR of 48.9% from 2020 to 2026.
Artificial Intelligence refers to the imitation of intelligent behavior in computers. Artificial Intelligence as a Service (AIaaS) is delivered by a third party to an organization. AIaaS provides a wide range of accessible AI tools and services for an organization via the cloud platform for integrating automated speech, vision and language understanding abilities. These intelligent services offer an opportunity for an organization to optimize the data and thus identify new methods. AIaaS doesn’t need the requirement to understand how they work and thereby enables for its usage even with the least experience in artificial intelligence. The most prominent driver is the rising cloud computing market. The cloud technology can offer additional support with the needed information for the learning processes to the AI, while AI can assist cloud by offering information which can provide more data. AI has the ability to streamline the enormous capacities of the cloud. It equips cloud technology with immense powers. It allows the machines to react, act, think and learn like human beings do. AI assists various machines in learning and analyzing the past data, making decisions and recognizing the patterns. Such a process assists in reducing the chances of human errors. Thus, AI improves the process of decision making of several organizations. From the aforementioned factors observed that the cloud computing and artificial intelligence are complementing each other’s strengths. Since, the increase in adoption of cloud computing technology coupled with the usage of social media platforms has been propelling the growth of the Artificial Intelligence as a Service (AIaaS) market. Moreover, the huge demand for predictive and smart automation in business processes to increase service and product portfolio in several organizations across the world is projected to positively impact the growth of artificial intelligence as a service market in the coming years. Also the increase in adoption of artificial intelligence technology in several IoT devices by electronic manufactures such as virtual agents, natural language generation, speech recognition and machine learning platform is also projected to enhance the growth of the artificial intelligence as a service market. However, the shortage of AI professionals and lack of confidence due to complex nature are factors likely to impede the market growth.
Additionally, the surge in demand for AI-powered services in the form of API and SDK and huge number of innovative startups are also expected to majorly influence the growth of the market. In addition, the growth 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 many information technology (IT) organizations is also projected create a significant demand for artificial intelligence as a service as well as lifting the growth market.
The global Artificial Intelligence-as-a-Service (AIaaS) Market is segregated on the basis of Technology as Machine learning (ML), Computer Vision, Natural Language Processing (NLP) and others. Based on Organization Size the global Artificial Intelligence-as-a-Service (AIaaS) Market is segmented in Small & Medium Enterprise and Large Enterprise. Based on Industry Vertical the global Artificial Intelligence-as-a-Service (AIaaS) Market is segmented in BFSI, IT & Telecom, Retail, Manufacturing, Public Sector, Energy & Utility, Healthcare and Others.
The global Artificial Intelligence-as-a-Service (AIaaS) Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Artificial Intelligence-as-a-Service (AIaaS) Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Google, Inc., IBM, Microsoft Corporation, SAS Institute, Hytrust, FICO and others are among the major players in the global Artificial Intelligence-as-a-Service (AIaaS) Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Artificial Intelligence-as-a-Service (AIaaS) Market has been segmented as below:
Artificial Intelligence-as-a-Service (AIaaS) Market, By Technology
Artificial Intelligence-as-a-Service (AIaaS) Market, By Organization Size
Artificial Intelligence-as-a-Service (AIaaS) Market, By Industry Vertical
Artificial Intelligence-as-a-Service (AIaaS) Market, By Region
Artificial Intelligence-as-a-Service (AIaaS) Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Artificial Intelligence-as-a-Service (AIaaS) Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Artificial Intelligence-as-a-Service (AIaaS) Market share. Major industry players with significant revenue share include Google, Inc., IBM, Microsoft Corporation, SAS Institute, Hytrust, FICO and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Artificial Intelligence-as-a-Service (AIaaS) Market, By Technology
5.1. Key Points
5.2. Machine learning (ML)
5.3. Computer Vision
5.4. Natural Language Processing (NLP)
5.5. Others
6. Artificial Intelligence-as-a-Service (AIaaS) Market, By Organization Size
6.1. Key Points
6.2. Small & Medium Enterprise
6.3. Large Enterprise
7. Artificial Intelligence-as-a-Service (AIaaS) Market, By Industry Vertical
7.1. Key Points
7.2. BFSI
7.3. IT & Telecom
7.4. Retail
7.5. Manufacturing
7.6. Public Sector
7.7. Energy & Utility
7.8. Healthcare
7.9. Others
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- Artificial Intelligence-as-a-Service (AIaaS) Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. Google, Inc.
9.2. IBM
9.3. Microsoft Corporation
9.4. SAS Institute
9.5. Hytrust
9.6. FICO
9.7. Hytrust
9.8. Intel
9.9. Baidu
9.10. SAP
9.11. IRIS AI
9.12. H2O. AI
9.13. CognitiveScale, Inc.
9.14. Apple Inc.
9.15. Alphabet Inc.
9.16. Salesforce, Inc.
9.17. Fair Isaac Corporation
Artificial Intelligence-as-a-Service (AIaaS) Market, By Technology
Artificial Intelligence-as-a-Service (AIaaS) Market, By Organization Size
Artificial Intelligence-as-a-Service (AIaaS) Market, By Industry Vertical
Artificial Intelligence-as-a-Service (AIaaS) Market, By Company