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Artificial Intelligence as a Service Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast

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Global artificial intelligence as a service market is estimated to value over USD 12 billion by 2026 end and grow at a CAGR of over 48% during the forecast period 2019 to 2026.  
Artificial Intelligence as a Service Market Global Trends, Market Share, Industry
Size, Growth, Opportunities, and Market Forecast 2019 to 2026
Global Artificial Intelligence as a Service Market Introduction:
Global artificial intelligence as a service market is estimated to value over USD 12
billion by 2026 end and grow at a CAGR of over 48% during the forecast period 2019
to 2026.
Inculcation of technologies like deep learning, machine learning in optimizing
workflow has significantly transformed businesses worldwide. AI has simplified
business operations through effective database management. However, instead of
hiring high-skilled professionals for handling such advanced technologies, companies
are outsourcing AI-based services from third-party vendors as it is less expensive
than in-house development.
Global Artificial Intelligence as a Service Market Overview:
The global market segmented on the basis of technology, organization size, vertical,
service type and region.
Technology-wise the market is categorised into natural language processing,
machine learning and deep learning. Machine learning segment has the potential to
showcase significant market growth owing to its characteristic of automatically
learning and improving based on the inputs from the user. This feature is useful for
industries in enhancing the consumer experience without getting into the
complexities of coding that need to be monitored constantly.
Based on the vertical, the market is fragmented into BFSI, healthcare, energy, IT and
telecommunication.
Depending on the size of the organization, the market is categorised as small and
medium enterprise (SME) and large enterprise. The large enterprise segment
dominated the market in 2017 due to an increased demand for AI technology in
different end-user industries and it is expected to witness similar market
proliferation during the forecast period.
Global Artificial Intelligence as a Service Market Regional Insight:
North American region dominates the global market owing to the presence of tech
giants like Google, Microsoft, Amazon in the region. Furthermore, the region has a
solid IT infrastructure where AI-based services can be effectively implemented which
solidifies the market position of the region.
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Global Artificial Intelligence as a Service Market Segmentation:
1. By Region
• North America
• Europe
• Asia Pacific
• Latin America
• Rest of the World
2.
•
•
•
By Technology
Natural language Processing
Machine Learning
Deep Learning
3. By Organization Size
• Small and Medium Enterprise (SME)
• Large Enterprise
4.
•
•
•
•
•
By Vertical
BFSI
IT
Telecommunication
Healthcare
Energy
5. By Service Type
• Software Tools
• Services
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Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants
Key Market Players:
• IBM Corp.
• Google Inc.
• Amazon
• Microsoft Corp.
• Intel Inc.
• SAP
FutureWise Key Takeaways:
• Major BFSI and telecom companies are rapidly adopting cloud-based solutions
which shall increase the demand for AI-based services
• Multiple tech start-ups, who provide AI-based services, are being established all
across the world which is an integral factor responsible for the rapid augmentation of
the market
Objectives of the Study:
• To provide with an exhaustive analysis on the artificial intelligence as a service
market by region, by technology, by organization size, by vertical, by service type
• To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)— North America,
Europe, Asia Pacific, Latin America and rest of the world
• To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
Inquire further details about this report at: [email protected]
About FutureWise Research:
We specialise in high-growth niche markets, assuring flexibility, agility and
customised solutions for our clients. Through in-depth market insights and
consultancy, we present our clients with the tools they need to be at the forefront of
their industry – a position secured for far more than the near future.
Contact Us:
Company Name: FutureWise Research
Contact Person: Vinay Thaploo
Email: [email protected]
Phone: +44 141 628 9353 / +1 970 279 4295
City: Leeds
Country: United Kingdom
Website: www.futurewiseresearch.com
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