AI as a Service (AIaaS) Market Projected to Hit USD 43.29 billion at a 25.8 % CAGR by 2030 – Report by Market Research Future (MRFR)

Market Research Future Insights

AI as a Service (AIaaS) is a cloud–based service that provides access to artificial intelligence (AI) technology and resources. It allows organizations to use AI capabilities without having to build and maintain their own infrastructure. AIaaS services can provide access to AI applications, tools and data sets, as well as provide software development kits (SDKs) and APIs that allow developers to quickly and easily integrate AI capabilities into their existing applications. AIaaS services are becoming increasingly popular as businesses realize the potential of AI and its ability to improve operations, increase efficiency and create new opportunities.

According to MRFR analysis, the global AI as a Service (AIaaS) Market Size is expected to register a CAGR of ~ 25.8% from 2021 to 2030 and hold a value of over USD 43.29 Billion by 2030.  Artificial Intelligence as a Service (AIaaS) is a third-party facility of artificial intelligence (AI) outsourcing. It allows people and organizations to explore different avenues for different resolves without high investment for initial installation and involves low risk. Most smart vendors, whether software firms, counselors, or professional service firms, proposal or partner with firms that can offer a full suite of services to aid in supporting a large-scale AI solution.

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AI as a Service (AIaaS) Market Report Scope: 

This is because AI market service companies are aware of the fact that it is no longer sufficient to purely offer AI software or AI tool sets to their clients. Companies such as Google, IBM, Microsoft, and other leading players have actively implemented AI services as a significant part of their technologies.

Regional Analysis

North America dominates the artificial intelligence (AI) as a service market due to the favorable government initiatives to encourage the adoption of artificial intelligence (AI) across several industries.

Asia-Pacific is anticipated to show lucrative growth due to the growing adoption of NLP technologies, rising e-commerce, growing internet penetration and online streaming have caused the growth of marketing industries.

Market Segmentation

The Global AI as a Service (AIaaS) Market has been segmented into Technology and End-User

Based on Technology, The Global AI as a Service (AIaaS) Market has been segmented into Machine Learning, Deep Learning, and Natural Language Processing. Its popularity is owing to its complex data-driven applications, such as text/content or speech recognition, which account for a large share of its market share.

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Deep Learning offers profitable investment prospects by assisting in the resolution of massive data volume difficulties. Substantial investments in AI are covered by machine learning and deep learning. It refuges AI platforms and cognitive applications such as tagging, grouping, categorization, hypothesis generation, alerting, filtering, navigation, and visualization, all of which let developers generate advisory and cognitively enabled systems.

Based on End-User, The Global AI as a Service (AIaaS) Market has been segmented into Banking, Financial Services, Insurance, Telecommunication, Government and Defense, Retail, and Others. The market was led by the advertising and media segment. This high percentage can be attributed to the rapidly growing AI marketing solutions that are fast acceptance. The healthcare industry, on the other hand, is projected to take the lead.

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Key Players

Some of the key market players are Salesforce, Baidu, SAP SE, Intel Corporation, Fair Isaac Corporation (FICO), IBM Corporation, Google Inc., AWS, Microsoft Corporation, and BigML

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Contact Information:

Contact: Market Research Future (Part of Wantstats Research and Media Private Limited) 99 Hudson Street, 5Th Floor New York, NY 10013 United States of America +1 628 258 0071 (US) +44 2035 002 764 (UK) Email: [email protected] Website: https://www.marketresearchfuture.com

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