The global artificial intelligence as a service market size (AIaaS Market size) is expected to reach $77,047.7 million in 2025, from $2,397.2 million in 2017 growing at a CAGR of 56.7% from 2018 to 2025. AIaaS incorporates a range of services that offer AI tools through cloud computing services. Google, IBM, Intel, Microsoft, and Apple Inc. are some of the leading players of the global AIaaS market.
Artificial intelligence as a service (AIaaS) involves the outsourcing of artificial intelligence (AI). Most of the manufacturers and industry professionals partner with firms that can provide a full suite of services to support a large-scale AI solution. Public cloud providers reveal APIs and services that can be used up without creating conventional machine learning models. These services take benefit of the underlying infrastructure owned by cloud vendors. The market for artificial intelligence as a service is primarily driven by the increased adoption of cloud services in end-user industries. However, lack of a skilled workforce is expected to hinder the market growth.
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The machine learning segment secured the highest share of about 42.0% in the artificial intelligence market in 2017 and is expected to grow at a CAGR of 55.9% during the forecast period. The large enterprise’s segment is the highest contributor to the growth of the AIaaS market. This segment secured 66.0% share in the market and is projected to grow at a CAGR of 57.0% during the forecast period. In terms of industry vertical, the IT & telecom segment is expected to contribute the highest market share in the coming years, as various new startups have been investing in artificial intelligence solutions. Moreover, the rapid urbanization, technological advancement, and increase in demand for cloud applications fuel the demand for AIaaS in the developing economies.
Asia Pacific is expected to witness the highest growth in artificial intelligence as a service market during the forecast period, owing to the presence of the key artificial intelligence companies in the region.
Key Findings of Artificial Intelligence as a Service Market:
- In 2017, the IT & telecom segment dominated the global artificial intelligence as a service market, in terms of revenue, and is projected to grow at a CAGR of 57.4% during the forecast period.
- The machine learning segment is projected to grow at a CAGR of 55.9% during the forecast period.
- North America is projected to be one of the fastest growing regions in artificial intelligence as a service market and is expected to witness a high growth rate.
The major players, such as Amazon, Microsoft Corporation, Alphabet Inc. (Google Inc.), IBM Corporation, Apple Inc., Intel, Inc., SAP SE, Salesforce, Inc., Fair Isaac Corporation, and CognitiveScale, Inc., focus on developing new products. These companies have expanded their business by collaborating with other small vendors.
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Market Segment by Manufacturers, this report covers – Alphabet Inc. (Google Inc.), Apple Inc., Amazon Inc., IBM Corporation, CognitiveScale, Inc., Microsoft Corporation, Intel, Inc., SAP SE, Salesforce, Inc., Fair Isaac Corporation
KEY MARKET SEGMENTS
- Machine Learning (ML)
- Computer Vision
- Natural Language Processing (NLP)
BY ORGANIZATION SIZE
- Small & Medium Enterprise
- Large Enterprise
BY INDUSTRY VERTICAL
- IT & Telecom
- Public Sector
- Energy & Utility
Market Segment by Table of Contents:
Chapter 1: Introduction
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
Chapter 2: Executive summary
2.1. CXO perspective
Chapter 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s five forces analysis
3.4. Key player positioning, 2018
3.5. Market dynamics
220.127.116.11. Increased market for cloud computing
18.104.22.168. Growth associated with artificial intelligence and cognitive computing
22.214.171.124. Dearth of trained professionals
126.96.36.199. Increased adoption of analytical solutions
188.8.131.52. Increased application areas
Industry executives tend to keep a tab on their business competitors. This keeps them updated on strategic business activities and investment trends. Company profiles are crucial to participating players of interconnected verticals.