Overview:
The global market report on artificial intelligence
(AI) as a service market is suggesting the promotion of the market beyond a
valuation of USD 43.29 Billion by 2030. During the forecast period of 2021 to
2030, the artificial intelligence as a service (AIaaS) market would take steps
forward with 25.8% CAGR. Market Research Future (MRFR) claims that the market
would gain from growing integration of AI, hike in the use of IoT, machine to
machine communication, 5G technology, and others as major influencers for the
market. Increasing demand from the end users would also help the market secure
benefits for market expansion.
Segmentation:
The global artificial intelligence (AI) as a service market has been studied on the basis of a segmentation that includes
technology, services type, organization size, software, and verticals.
By services, the Artificial Intelligence as a
Service (AIaaS) market includes custom cognitive computing APIs, cognitive
computing APIs, and conversational AI.
By technology, the market report benefits from a
discussion of machine learning & deep learning and natural language
processing.
By software, the market encompasses segments like
cloud & web-based application, modeler & processing, data storage &
archiving, and others.
By organization size, the Artificial Intelligence
as a Service (AIaaS) market consists of SMEs and large enterprises.
By vertical, the market relies on a discussion
encompassing manufacturing, healthcare, retail, BFSI, government & defense,
telecommunication, and energy & power.
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Regional Analysis:
North America and Europe both regions are structurally
in an advantageous position and enjoy a continuous influx of investment to
support research and development projects, which would bolster their market
presence. In Asia Pacific, China, Japan, and South Korea are expected to
contribute in notable ways.
Competitive Landscape:
The global AIaaS Market is set to benefit from the
strategic moves implemented by Google Inc., AWS, IBM Corporation, Baidu, SAP
SE, Microsoft Corporation, Salesforce, Fair Isaac Corporation (FICO), Intel
Corporation, BigML, Vital AI, Absolutdata, Fuzzy.AI, Craft.AI, Sift Science,
Rainbird Technologies, Cognitive Scale, Mighty.AI, Yottamine Analytics,
Centurysoft, and Datarobot Meya.AI.
Industry News:
In September 2020, Sage, the market leader in cloud
business management solutions, revealed the first artificial intelligence (AI)
powered application Sage Intacct cloud financial management system. Sage
Intelligent Time is available online or can be downloaded as a mobile app,
which would ensure a continuous, timely, and accurate insights to manage
billable time in services-based businesses.
Sage Intelligent Time has a solid premise in
AI-powered personal time assistants to ensure service professionals get a
complete timesheet and this would help them in automatically reconstructing
their workday.
In September 2020, Microsoft declared that it would
collaborate with Australia’s neobank Volt and the deal would include Volt 2.0,
a Banking as a Service (BaaS) platform, that is expected to release on 2021.
The platform will ensure that it allows business partners of the neobank to
offer full-service banking and payments to their clients. Volt 2.0 will just be
an extension of pre-existing partnerships of the bank with various household
brands. The bank will act with Microsoft and LAB3 engineers in Australia and
overseas. The intent is to ensure a scalable, high performance, and trusted
BaaS platform that secures data storage and advanced analytics capability and
it will use the cloud computing service, Microsoft Azure.
During the COVID-19 crisis, the global market for
artificial intelligence as a service is slated to benefit significantly as
several companies, laboratories, and others are looking for various solutions
for the disease using artificial intelligence.
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https://www.marketresearchfuture.com/reports/ai-as-a-service-market-7059
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About
Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel
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MRFR team have supreme objective to provide
the optimum quality market research and intelligence services to our clients.
Our market research studies by products, services, technologies, applications,
end users, and market players for global, regional, and country level market
segments, enable our clients to see more, know more, and do more, which help to
answer all their most important questions.
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