Global AI as a Service
Market Report
2024
AI as a Service Market size is USD 14.00 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 35.70% from 2024 to 2031.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global AI as a Service market size is USD 14.00 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 35.70% from 2024 to 2031.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global AI as a Service Market Sales Revenue 2024 | $ 14 Billion |
Global AI as a Service Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 35.7% |
Market Split by Technology |
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Market Split by Cloud Type |
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Market Split by Offering |
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Market Split by Organization Size |
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Market Split by Vertical |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Report scope is customizable as we have a huge database of AI as a Service industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
AI as a Service Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The AI as a Service (AIaaS) market refers to provision of the artificial intelligence capabilities and resources through cloud-based platforms on a subscription or pay-per-use basis. It enables businesses to access AI tools, algorithms, and infrastructure without needing to invest heavily in building and maintaining their own AI systems. AIaaS offerings typically include machine learning models, natural language processing, computer vision, and other AI functionalities that can be easily included into applications and processes. This model democratizes access to advanced AI technologies, permiting organizations of all sizes and industries to leverage the power of artificial intelligence for various purposes, such as data analysis, automation, personalization, and decision-making support. The AIaaS market is witnessing rapid growth driven by the increasing demand for AI solutions, scalability and flexibility of the cloud-based services, and the evolving landscape of digital transformation across industries.
Market Dynamics of AI as a Service Market
Key Drivers for AI as a Service Market
Advancements in Cloud Computing Infrastructure to Increase the Demand Globally - One key driver in the AI as a Service market is the advancements in cloud computing infrastructure, enhancing the scalability, flexibility, and accessibility of AI as a Service (AIaaS) offerings. With robust cloud platforms, AIaaS providers can efficiently deploy, manage, and scale AI resources, reducing barriers to entry for businesses. Moreover, advancements in cloud security and compliance mechanisms bolster trust in AIaaS solutions, attracting more enterprises to leverage AI capabilities without significant upfront investments in infrastructure and driving the growth of the market.
Growing Demand for AI Solutions Across Industries- Growing demand for AI solutions across industries boosts the AI as a Service market by increasing adoption and deployment.
Key Restraints for AI as a Service Market
Lack of Skilled Employees—The lack of skilled employees restrains the market growth of AI as a Service by hampering businesses' effective implementation and utilization of AI technologies.
Rising Concerns Regarding Data Privacy and Security- Rising concerns regarding data privacy and security restrain the market growth of AI as a Service by leading to hesitancy among businesses to entrust sensitive data to third-party cloud providers for AI processing.
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In March 2023, Google Cloud launched Generative AI support in Vertex AI, which allows data science teams to access foundation models from Google and others, allowing them to raise and customize atop these models on the same platform they utilize for homegrown MLops and ML models.
(Source: https://cloud.google.com/products)
Top Companies Market Share in AI as a Service Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
Which Region will dominate the AI as a Service Market in 2024?
According to Cognitive Market Research, North America dominated the market in 2024 and accounted for around 40% of the global revenue due to several factors, including its strong technological infrastructure, significant investments in AI research and development, a large base of tech-savvy enterprises, and a supportive regulatory environment. Additionally, the presence of major cloud service providers offering AIaaS solutions further contributes to the region's dominance. The region's early adoption of advanced technologies and its established market for cloud services further solidify its leading position in the AIaaS market.
Which Region is Expanding at the Fastest CAGR?
Asia-Pacific stands out as the fastest-growing region in the AI as a Service market due to rapid urbanization, increasing digitalization, and a burgeoning startup ecosystem. Moreover, government initiatives promoting AI adoption, coupled with the presence of major technology companies investing in AI infrastructure and research, further propel market growth. Additionally, the region's large population and diverse industries provide ample opportunities for AI integration across various sectors, driving the demand for AIaaS solutions.
The current report Scope analyzes AI as a Service Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global AI as a Service Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing AI as a Service Industry growth. AI as a Service market has been segmented with the help of its Technology , Cloud Type Offering , and others. AI as a Service market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
Based on present and future trends, the market size is estimated from 2019 to 2031. Moreover, study also provides quantitative and qualitative analysis of each type to understand the driving factors for the fastest growing type segment for AI as a Service market.
Technology of AI as a Service analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of AI as a Service Industry. Request a Free Sample PDF!
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities for each application of AI as a Service from 2019 to 2031. This will also help to analyze the demand for AI as a Service across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Cloud Type of AI as a Service are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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According to Cognitive Market Research, large enterprises category dominated the market due to their substantial resources, which enable them to invest in advanced AI technologies and deploy comprehensive AI solutions at scale. Additionally, their established infrastructure and expertise allow for easier integration of AI services into existing systems and processes. Moreover, large enterprises often have more extensive data sets, providing them with a competitive advantage in training and fine-tuning AI algorithms for better performance and accuracy.
Research associate at Cognitive Market Research
Swasti Dharmadhikari, an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
Swasti an agile and achievement-focused market researcher with an innate ardor for deciphering the intricacies of the Service & Software sector. Backed by a profound insight into technology trends and consumer dynamics, she has committed herself to meticulously navigating the ever-evolving terrain of digital Services and software solutions.
In her current role, Swasti manages research for service and software category, leading initiatives to uncover market opportunities and enhance competitive positioning. Her strong analytical skills and ability to provide clear, impactful findings have been crucial to her team’s success. With an expertise in market research analysis, She is adept at dissecting complex problems, extracting meaningful insights, and translating them into actionable recommendations, Swasti remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global AI as a Service Market is witnessing significant growth in the near future.
In 2023, the Learning segment accounted for noticeable share of global AI as a Service Market and is projected to experience significant growth in the near future.
The Public Cloud segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Amazon Web Services Inc. , International Business Machines Corporation and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Technology | Learning, Natural Language Processing, Context Awareness, Computer Vision |
Cloud Type | Public Cloud, Hybrid Cloud, Private Cloud |
Offering | Infrastructure as a Service, Platform as a Service, Software as a Service |
Organization Size | SMEs, Large Enterprises |
Vertical | BFSI, Retail & E-Commerce, Healthcare & Life Sciences, IT & ITeS, Telecommunication, Government & Defense, Manufacturing, Energy & Utilities, Others |
List of Competitors | Amazon Web Services Inc., Salesforce Inc., International Business Machines Corporation, Intel Corporation, Microsoft, BigML Inc., Google LLC, SAP SE, Siemens, Fair Isaac Corporation |
This chapter will help you gain GLOBAL Market Analysis of AI as a Service. Further deep in this chapter, you will be able to review Global AI as a Service Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
Chapter 3 Europe Market Analysis
Chapter 4 Asia Pacific Market Analysis
Chapter 5 South America Market Analysis
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Technology Analysis 2019 -2031, will provide market size split by Technology . This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Technology Analysis 2019 -2031
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Chapter 11 Market Split by Cloud Type Analysis 2019 -2031
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Chapter 12 Market Split by Offering Analysis 2019 -2031
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Chapter 13 Market Split by Organization Size Analysis 2019 -2031
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Chapter 14 Market Split by Vertical Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global AI as a Service market
Chapter 15 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Learning have a significant impact on AI as a Service market? |
What are the key factors affecting the Learning and Natural Language Processing of AI as a Service Market? |
What is the CAGR/Growth Rate of Public Cloud during the forecast period? |
By type, which segment accounted for largest share of the global AI as a Service Market? |
Which region is expected to dominate the global AI as a Service Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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