Artificial Intelligence as a Service (AIaaS) Market Size to Reach $77,047.7 Million by 2025 | Apple Inc., Intel, Inc

North America is among biggest markets for cognitive computing owing to presence of numerous large industries & IT infrastructure which contribute to the growth

WILMINGTON, DE, UNITED STATES, November 9, 2023 /EINPresswire.com/ — According to a new report published by Allied Market Research, titled, Artificial Intelligence as a Service Market (AIaaS Market) by Technology, Organization Size, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2018-2025,

The global artificial intelligence as a service market (AIaaS) accounted for $2,397.2 million in 2017, and is expected to reach $77,047.7 million by 2025, growing at a CAGR of 56.7% from 2018 to 2025. In 2017, North America dominated the global market, in terms of revenue, accounting for about 47.0% share of the global market, followed by Asia-Pacific.

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Artificial intelligence as a service (AIaaS) involves outsourcing of artificial intelligence (AI). Most of the manufacturers and industry professionals partner with firms that can provide a full suite of services to support a large-scale AI solution. Public cloud providers reveal APIs and services that can be used up without creating conventional machine learning models.

These services take benefit of the underlying infrastructure owned by cloud vendors. The market for artificial intelligence as a service is primarily driven by the increased adoption of cloud services in end-user industries. However, lack of skilled workforce is expected to hinder the market growth.

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Competitive Analysis:
The competitive environment of Artificial Intelligence as a Service (AIaaS) Industry is further examined in the report. It includes details about the key players in the market’s strengths, product portfolio, Artificial Intelligence as a Service (AIaaS) Market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Key Players:
Amazon
Microsoft Corporation
Alphabet Inc. (Google Inc.)
IBM Corporation
Apple Inc.
Intel, Inc.
SAP SE
Salesforce, Inc.
Fair Isaac Corporation
CognitiveScale, Inc and Many More

Region-wise, Asia pacific is expected to witness the highest growth in artificial intelligence as a service market during forecast period, owing to presence of the key artificial intelligence companies in the region, North America is projected to be one of the fastest growing region in the artificial intelligence as a service market and is expected to witness high growth rate.

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The machine learning segment secured the highest share of about 42.0% in the artificial intelligence market in 2017 and is expected to grow at a CAGR of 55.9% during the forecast period. The large enterprises segment is the highest contributor in the growth of the AIaaS market. This segment secured 66.0% share in the market and is projected to grow at a CAGR of 57.0% during the forecast period.

In terms of industry vertical, the IT & telecom segment is expected to contribute the highest market share in the coming years, as various new startups have been investing in artificial intelligence solutions. Moreover, the rapid urbanization, technological advancement and increase in demand for cloud applications fuel the demand for AIaaS in the developing economies.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports Insights” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Allied Market Research
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