Artificial Intelligence as a Service (AIaaS) Market 2019: Global Analysis, Business Strategy, Development Status, Emerging Technologies, Future Plans and Trends by Forecast 2023

The report on the Global Artificial Intelligence as a Service (AIaaS) Market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.

Market Insight

Global AI as a Service Market is expecting an impressive 36% CAGR during the forecast period (2018-2023) and can reach a valuation of USD 6-7 Billion in the same period. The report published by Market Research Future which has an all-encompassing reckoning of the segments and driving factors that can leverage the market valuation in the coming years.

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Market Drivers & Trends

The market has blown its worth in the past years and is now expected to earn more recognition. The factors behind the market’s growth are attributed to factors such as rising investment by key players in the development of AI technology. The rising trend of introduction of automation in businesses, increment in number of start-ups, and rising demand for AI-enabled APIs & SDKs are some of the key driving factors for the growth of this market in the coming years.

At the same time, the development of technologies such as machine learning, deep learning, and natural language processing has transformed businesses to a subsequent level. Besides these, with the help of integrating AI-enabled tools in processes or operations, the businesses are abridging their business problems and structured & unstructured data. As these technologies require high technical expertise to deal with sophisticated algorithms, the cost incurred to the company for recruiting and training is rising. Therefore, to cater such an issue, the companies are now interested in outsourcing AI-based solutions from third-party vendors instead of developing them. These factors are also taking the market to grow at the next level, which will continue with the same during the forecast period.

Key Players

Market Research Future has identified some of the key players in Artificial Intelligence as a Service (AIaaS) market. They are Fair Isaac Corporation (FICO), Google Inc., AWS, Microsoft Corporation, IBM Corporation, Baidu, SAP SE, Intel Corporation, Salesforce, and BigML.

Apart from these, the key players such as Fuzzy.AI, Vital AI, Absolutdata, Craft.AI, Sift Science, Mighty.AI, Yottamine Analytics, Cognitive Scale, Centurysoft, Rainbird Technologies, and Datarobot Meya.AI are also actively contributing in the market’s proliferation.

Market Segmentation

The Global Artificial Intelligence (AI) as a Service Market has been segmented among the elements of services type, technology, software, organization size, and verticals.

Among the services, the market includes cognitive computing APIs, custom cognitive computing APIs, and conversational AI.

Among the technology: Machine learning & deep learning and natural language processing are the segments.

Among the software: Data storage & archiving, modeler & processing, cloud & web-based application, and others are the segments.

Regional Outlook

Market Research Future (MRFR) has covered the key regions under the regional analysis study of the global AI as a Service market. They are North America, Europe, Asia-Pacific, and the Middle East & Africa and Latin America.

Among these, the North American market is prominent as the region is the early adopter of advanced technologies of artificial intelligence. Also, developed infrastructure, new network technologies, and high technical skills are some more factors stimulating the market growth of AI as a Service. The U.S. is presently leading the market as majority of the revenue generation, which has been created by the key players located in this country.

Asia-Pacific AI as a Service (AIaaS) market is anticipated to expand with the highest CAGR during assessment period 2018-2023. Countries like China, South Korea, and Japan are the leading innovators in artificial intelligence as they are capitalizing heavily on developing automation technologies for industries, which is one of the prime driving factors for the adoption of Artificial Intelligence. India and Singapore are also likely to grow as a significant market for Artificial Intelligence as a Service (AIaaS) in coming years.

LIST OF TABLES

Table 1 Artificial Intelligence As A Service (AIaaS)Market, By Region, 2019–2023

Table 2 North America: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023

Table 3 Europe: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023

Table 4 Asia-Pacific: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023

Table 5 Rest Of The World: Artificial Intelligence As A Service (AIaaS)Market, By Country, 2019–2023

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LIST OF FIGURES

FIGURE 1 Global Artificial Intelligence As A Service (AIaaS)Market Segmentation

FIGURE 2 Forecast Methodology

FIGURE 3 Porter’s Five Forces Analysis Of Global Artificial Intelligence As A Service (AIaaS)Market

FIGURE 4 Value Chain/Supply Chain Of Global Artificial Intelligence As A Service (AIaaS)Market

FIGURE 5 Share Of Global Artificial Intelligence As A Service (AIaaS)Market In 2017, By Country (In %)

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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members

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