Dublin, Sept. 20, 2019 (GLOBE NEWSWIRE) — The “Global Artificial Intelligence as a Service Market By Technology, By Organization Size, By Service Type (Service & Software Tools), By Type of Cloud, By Vertical (BFSI, Healthcare, Retail, IT & Telecom, Government & Others), By Region, Competition, Forecast & Opportunities, 2024” report has been added to ResearchAndMarkets.com’s offering.
The Global artificial intelligence as a service market was valued at around $ 2 billion in 2018 and is anticipated to grow at a CAGR of 34% to reach around $ 11.6 billion by 2024, owing to increasing adoption of artificial intelligence.
Objective of the Study
- To analyze and forecast the market size of the global artificial intelligence as a service market.
- To classify and forecast the global artificial intelligence as a service market based on technology, organization size, service type, type of cloud, vertical and regional distribution.
- To identify drivers and challenges for the global artificial intelligence as a service market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global artificial intelligence as a service market.
- To conduct pricing analysis for the global artificial intelligence as a service market.
- To identify and analyze the profile of leading players operating in the global artificial intelligence as a service market.
- Historical Years: 2014-2017
- Base Year: 2018
- Estimated Year: 2019
- Forecast Period: 2020-2024
Organizations are leveraging artificial intelligence for improving productivity and enhanced efficiency at lower cost, which is anticipated to fuel growth of artificial intelligence as a service market over the next five years. Moreover, increasing demand for enhancing user experience while reducing waiting time through automated chats is further likely to propel growth of the market.
Artificial intelligence as a service (AIaaS) market can be segmented based on technology, organization size, service type, type of cloud, vertical and region. On the basis of technology, the market can be segmented into machine learning, natural language processing and others. Natural language processing technology helps to interpret human language and understand customer behavior which is likely to drive growth in this segment during forecast period.
Artificial intelligence as a service finds application in various verticals including BFSI, retail, IT & telecom, healthcare, government and others. Of all, BFSI segment is likely to witness extensive adoption of AIaaS through 2024 as this vertical uses artificial intelligence for chatbots, fraud detection and customer recommendation. Moreover, need for integrating technology and improve operational efficiency is pushing the adoption of AIaaS in BFSI.
Regionally, the market for artificial intelligence as a service is gaining traction and expanding to various regions including Asia-Pacific, North America, Europe, South America and Middle East & Africa. Asia-Pacific industry is anticipated to witness the fastest growth during forecast period. Healthcare industry in Asia-Pacific region is growing at a rapid pace, thereby creating investment opportunities, which is anticipated to promote the growth of artificial intelligence as a service market in the region.
Major players operating in the global artificial intelligence as a service market include Amazon Web Services Inc. Google LLC, Microsoft Corp., International Business Machines (IBM) Corp., Salesforce.com Inc., Oracle Corporation, Fair Isaac Corporation, SAP SE, SAS Institute Inc., H2O.Ai Inc., Intel Corp., etc.
Major companies are developing advanced technologies and launching new products in order to stay competitive in the market. Other competitive strategies include mergers & acquisitions and new product developments. In 2018, Google added more AI features to its cloud so as to attract more customers.
Key Topics Covered
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. Global Artificial Intelligence as a Service Market Outlook
5.1. Market Size & Forecast
5.1.1. By Value
5.2. Market Share & Forecast
5.2.1. By Technology (Machine Learning; Natural Language Processing; Others)
5.2.2. By Organization Size (SME; Large Enterprise)
5.2.3. By Service Type (Software Tools; Services)
5.2.4. By Type of Cloud (Public Cloud; Private Cloud; Hybrid Cloud)
5.2.5. By Vertical (BFSI; Healthcare; Retail; IT & Telecom; Government; Others)
5.2.6. By Region (North America; Europe; Asia Pacific; South America and Middle East & Africa)
5.2.7. By Company (2018)
5.3. Market Attractiveness Index
6. North America Artificial Intelligence as a Service Market Outlook
7. Europe Artificial Intelligence as a Service Market Outlook
8. Asia-Pacific Artificial Intelligence as a Service Market Outlook
9. South America Artificial Intelligence as a Service Market Outlook
10. Middle East and Africa Artificial Intelligence as a Service Market Outlook
11. Market Dynamics
12. Market Trends & Developments
13. Competitive Landscape
13.1. Competition Outlook
13.2. Company Profiles
13.2.1. Amazon Web Services Inc.
13.2.2. Google LLC
13.2.3. Microsoft Corp.
13.2.4. International Business Machines (IBM) Corp.
13.2.5. Salesforce.com Inc.
13.2.6. SAP SE
13.2.7. SAS Institute Inc.
13.2.8. H2O.Ai Inc.
13.2.9. Intel Corp.
13.2.10. Fair Isaac Corporation
14. Strategic Recommendations
For more information about this report visit https://www.researchandmarkets.com/r/gk83pn
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