AI as a Service (AIaaS) is an offering of artificial intelligence (AI) outsourcing by third-party sources. It helps the companies to avoid making a large-scale investment by experimenting with AI with lower risk. The Global Artificial Intelligence as a Service Market Analysis, 2020 research report depicts a deep-dive market analysis of statistics of Global AI as a Service market which consists of regional and country-wise market size, market forecast, CAGR market segmentation, market shares of diverse regions and countries, market share of various end-users, applications, product type, technologies, competitive benchmarking, etc.
According to MarkNtel Advisors’ research report “Global Artificial Intelligence as a Service Market Analysis, 2020”, the Global AI as a Service market is anticipated to grow at a CAGR of 44% during 2020-25. Based on technology, Machine Learning (ML) and Deep Learning (DL) acquired the majority market share in the AIaaS market in 2019 due to the rising end-user industry inclination toward the deployment of AI industry solutions and incorporation of technology like chatbots for e-commerce and online banking companies.
However, Natural Language Processing is also foreseeing a boost in its market due to the growing demand for the technology, as it helps to understand human language such as text, speech, and sentiment analysis and interpret customer actions. Apart from this, the technology is vastly used in AI-powered service product such as chatbot service which is estimated to escalate the demand for natural language processing technology in the in the forthcoming period.
Banking Finance Service and Insurance Accounted for the Substantial Market Share
Based on end user, BFSI captured a considerable market share in the Global AI as a Service market in 2020 due to the adoption of artificial intelligence across Chabot’s, fraud detection, algorithmic trading. Moreover, the requirement for incorporation of technology to enhance operational productivity and to improve customer experience is also encouraging the adoption of AIaaS. Therefore, this is expected to strongly contribute toward the market growth of AI as a Service market in the near future as stated in the MarkNtel Advisors’ research report “Global Artificial Intelligence as a Service Market Analysis, 2020”.
According to MarkNtel Advisors, the key players with a considerable market share in the Global AI as a Service market include IBM, Google, Microsoft, Amazon Web Services, Salesforce, SAP, Intel, Oracle, SAS, Apple etc.
Key Questions Answered in the Market Research Report
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
Q. What is the historical year, base year, and forecast year considered in the research report on Global AI as a Service Market?
A. The historical data has been provided since 2015, while the base year is 2019 and the data is forecast up-to 2025.
Q. What are the units or denomination for measuring market value and volume in the report?
A. The market size/industry size or the market value is measured in terms of USD Million.
Q. What would be the growth rate or CAGR of Global AI as a Service Market during 2020-25?
A. The growth rate of Global AI as a Service Market during 2020-25 is forecast to grow at a CAGR of 44% through 2025.
Q. Who are the key competitors or players operating in Global AI as a Service Market?
A. IBM, Google, Microsoft, Amazon Web Services, Salesforce, SAP, Intel, Oracle, SAS, Apple etc., are few of the leading players in the Global AI as a Service Market.
Q. Which deployment segment would emerge as an opportunity area for players in Global AI as a Service Market?
A. Cloud-based deployment is expected to attain the highest CAGR during the forecast period and maintain its significant market share.
Q. Which region would emerge as an opportunity area for players in Global AI as a Service Market?
A. The North America grabbed a significant market share continue to grow at a highest CAGR, presenting immense opportunities for manufacturers and suppliers of Global AI as a Service Market.
