Cloud AI Market Size to Reach US$ 292.34 Billion, Globally, by 2028 at 39.00% CAGR
The global cloud AI market size reach US$ 292.34 Billion by 2028, exhibiting a growth rate (CAGR) of 39.00% during 2023-2028.
NY 11249, BROOKLYN, UNITED STATES, June 27, 2023/EINPresswire.com/ — The latest report by IMARC Group, titled, “Cloud AI Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global cloud AI market size reached US$ 41.01 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 292.34 Billion by 2028, exhibiting a growth rate (CAGR) of 39.00% during 2023-2028.
Cloud artificial intelligence or cloud AI refers to the usage of cloud computing infrastructure to deliver AI capabilities to businesses. This approach enables access to a range of technologies, including machine learning (ML), neural networks, natural language processing (NLP), deep learning (DL), picture and speech recognition, big data analytics, and computer vision. Cloud AI is used in various domains, such as drug discovery, virtual health assistance, imaging analysis, fraud detection, personalized recommendations, customer service, risk assessment, algorithmic trading, predictive maintenance, and quality control. This technology is known for its cost-effectiveness, high efficiency, and scalability, offering easy access, rapid deployment, robust infrastructure, high security, continuous updates, and cutting-edge AI capabilities. Cloud AI facilitates collaboration among stakeholders, optimizes resource management, reduces operational costs, and enhances overall efficiency. Consequently, it finds extensive utilization across numerous sectors, including healthcare, pharmaceuticals, manufacturing, telecommunications, transportation, banking, etc.
Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/cloud-ai-market/requestsample
Cloud AI Market Trends and Drivers:
The cloud AI market is primarily driven by the rising need for AI capabilities across industries to streamline operations, optimize supply chains, save time, expedite product development, automate processes, reduce manual labor, and improve decision-making. Additionally, the shifting preferences toward cloud-based services and applications owing to their cost-effectiveness, scalability, and accessibility are further fueling the market growth. Moreover, the rapid proliferation of Internet of Things (IoT) devices contributing to the demand for cloud AI as it enables the analysis of vast data volumes, extraction of valuable insights, and generation of actionable outcomes is acting as another significant growth-inducing factor. Apart from this, the emerging trend of integrating automated machine learning (AutoML), generative AI, and federated learning, which enhance collaboration, ensure data privacy, and simplify processes, is also positively influencing the market growth. Furthermore, the expanding employment of cloud AI in drug discovery, patient data analysis, and clinical decisions and the implementation of supportive government policies to encourage the adoption of AI-based solutions in traffic management, public safety, citizen services, and resource optimization are expected to fuel the cloud AI market in the coming years.
Inquire Before Buying:- https://www.imarcgroup.com/request?type=report&id=7926&flag=F
Cloud AI Market 2023-2028 Competitive Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Ai H2o Inc.
Amazon Web Services Inc.
Cloudminds Technology Inc.
Google LLC
International Business Machines Corporation
Microsoft Corporation
Oracle Corporation
Qlik Technologies Inc.
Salesforce Inc.
SoundHound Inc.
Verint Systems Inc.
Wipro Limited, etc.
The report has segmented the market based on type, technology, and vertical.
Type Insights:
Solution
Services
Technology Insights:
Deep Learning
Machine Learning
Natural Language Processing
Others
Vertical Insights:
Healthcare
Retail
BFSI
IT and Telecommunication
Government
Manufacturing
Automotive and Transportation
Others
Breakup by Region:
North America
Asia-Pacific
Europe
Latin America
Middle East and Africa
Ask Analyst for 10% Free Customized Report: https://www.imarcgroup.com/request?type=report&id=7926&flag=C
Key highlights of the report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
Sales@imarcgroup.com
