Global Artificial Intelligence as a Service Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

“Global Artificial Intelligence as a Service Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz. The global artificial intelligence chip market report has been segmented on the basis of solution, technology, organization size, industrial vertical, and region.

Global Artificial Intelligence as a Service Market: Overview

Artificial intelligence and machine learning technologies are widely used to automate business process operations, reinvention, and to provide competitive and innovative product offerings by leveraging artificial intelligence as a service.

Global Artificial Intelligence as a Service Market: Dynamics

Increasing adoption of advanced commodity services such as infrastructure as a service (IaaS), software as a service (SaaS), and business process as a service (BPaaS) among various information technology (IT) organizations is a key factor expected to drive growth of the global artificial intelligence as a service market over the forecast period.  In addition, artificial intelligence as a service software offers various benefits such as customized service delivery, optimized services, high quality services, and cost efficient services. These are some other factors expected to support growth of the target market in the near future.

Growing demand for disaggregated multi-supplier contracts and multi-vendor outsourcing from various sectors is another factor expected to boost growth of the global artificial intelligence as a service market. This demand can be attributed to various features offered by artificial intelligence as a service outsourcing such as, process integration across multiple suppliers, multi-supplier co-ordination models, and service provider performance management against service level agreements (SLAs) and operational level agreements (OLAs), and business relationship management.

In addition, increasing adoption of artificial intelligence technology in various IoT devices by electronic manufactures such as natural language generation, speech recognition, virtual agents, and machine learning platforms is currently a key trend observed in the target market and is expected to boost growth of the global market during the forecast period.

Furthermore, increasing demand for predictive and smart automation in business processes to expand service and product portfolio in various organizations across the globe is expected to create significant opportunities for players operating in the global market.

Global Artificial Intelligence as a Service Market: Segment Analysis

On the basis of solution, the cloud and web-based application programming interface (APIs) segment is expected to dominate in the global artificial intelligence as a service market, owing to increasing awareness regarding multiple benefits and services offered by IaaS in a single cost-effective package among various business enterprises.

On the basis of organization size, the large enterprises segment is expected to dominate in the global artificial intelligence as a service market, owing to increasing demand for delivery of cost effective services among various business enterprises across the globe.

Global Artificial Intelligence as a Service Market: Regional Analysis

The market in North America is expected to dominate the global market in terms of revenue, owing to high adoption for cloud based and artificial intelligence services among various organizations in countries such as, US and Canada in the region. Asia Pacific is expected to witness significant growth in terms of revenue, owing to high penetration of IT services and solutions, and growing e-commerce activity among various organizations to achieve precise and accurate business operations in countries in the region. The Latin America and Middle East & Africa are expected to witness lucrative growth over the forecast period, owing to increasing adoption of advanced technologies and IT services among various industries in the region.

Global Artificial Intelligence as a Service Market Segmentation:

Segmentation by Solution:

• Modeler and Processing
• Data Storage and Archiving
• Cloud and Web-Based Application Programming Interface (API’s)
• Others (Model Validator, Decision Report, Predictor, Training, and Report Storage)

Segmentation by Technology:

• Deep Learning
• Machine Learning (ML)
• Natural Language Processing (NLP)

Segmentation by Organization Size:

• Large Enterprises
• Small and Medium-Sized Enterprises (SME’s)

Segmentation by Industrial Vertical:

• Healthcare and Defense
• Government and Utilities
• IT and Telecommunications
• Media & Communication Services
• Banking, Financial Services and Insurance (BFSI)
• Others (Food & Beverages, Oil & Gas, Real Estate, Manufacturing and Retail, and Transportation and Logistics)

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa