The global market for AI as a Service was valued at $xx billion in 2020 and is expected to grow cumulatively at a CAGR of around —% over the next four years, reaching $xx billion by 2028.
AI as a Service Market Introduction
The global market for Artificial Intelligence (AI) is expected to touch USD xx billion by 2025.
There are many reasons behind this trend such as technological advances in machine learning algorithms that enable computers to perform sophisticated tasks; availability of vast amounts of structured and unstructured data
There are three major drivers of growth for the market: increased penetration in the enterprise sector, improved infrastructure and proliferation of AI-based services.
We predict that the AI as a Service Market will be growing steadily during the next few years and is set to exceed $xx billion by 2028. We believe that an increase in competition might lead to a slowdown but increased customer demand will still lead to healthy growth rates.
There is a wide demand for AI-powered services. The market has grown exponentially in the past few years and is projected to grow even more by 2020 as more companies adopt AI. AI software can be used to automate repetitive tasks, predict outcomes based on data, and provide insights.
AI as a Service Market Overview
The AI market is a rapidly emerging, and very attractive new market. AI as a Service Market regional analysis explores the global trends in this industry.
AI as a Service Market regional analysis is significant for all stakeholders of the global AI ecosystem. It provides insights into the current dynamics of the industry and also highlights growth opportunities in specific regions or countries (e.g., China, North America, Europe).
The market is growing as more organizations are adopting the technology for their business operations. More businesses are investing in AI, and many countries are investing heavily in AI research and development.
Some of the factors driving this growth include increasing demand for automation and growing need for customer retention and increased revenues through better customer experience management. The major restraining factor is the lack of trained professionals who can implement AI solutions at their full potential within an organization’s infrastructure ecosystem.
AI as a Service Market Competitive Landscape
AIaaS has many benefits for businesses and consumers. It can help businesses reduce costs and increase productivity, while also providing consumers with more customized experiences.
We predict that by 2020 there will be 9.6 billion devices connected to the internet, and this number will only grow. As AI becomes more prevalent in everyday life, companies both big and small are beginning to take advantage of it for their businesses – known as AI-as-a-service (AIaaS).
Companies in the AI as a Service market are adopting new strategies to stay competitive. The market is largely fragmented, with more players competing for revenue share in 2020. Driven by demand for AI-powered cloud services, which is expected to account for more than 55% share of the total market by 2028.