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Artificial Intelligence-as-a-Service Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 145
  • SKU: IRTNTR41175
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The artificial intelligence-as-a-service (AIaaS) market share is expected to increase by USD 15.14 billion from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 48.22%.

This artificial intelligence-as-a-service (AIaaS) market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers artificial intelligence-as-a-service (AIaaS) market segmentations by end-user (retail and healthcare, BFSI, telecommunications, government and defense, and others) and geography (North America, APAC, Europe, and South America). The artificial intelligence-as-a-service (AIaaS) market report also offers information on several market vendors, including Alphabet Inc., Amazon.com Inc., Apple Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, and SAS Institute Inc. among others.

What will the Artificial Intelligence-as-a-Service (AIaaS) Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Artificial Intelligence-as-a-Service (AIaaS) Market Size for the Forecast Period and Other Important Statistics

 

Artificial Intelligence-as-a-Service (AIaaS) Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a positive impact on the market growth during and post COVID-19 era. The increasing investment in r&d is notably driving the artificial intelligence-as-a-service (AIaaS) market growth, although factors such as data privacy issues may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the artificial intelligence-as-a-service (AIaaS) industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Artificial Intelligence-as-a-Service (AIaaS) Market Driver

The increasing investment in r&d is notably driving the global artificial intelligence-as-a-service (AIaaS) market growth. Enterprises across the globe are increasingly focusing on upgrading their IT systems and empowering their workforce with AI-based solutions and services to gain a competitive advantage. Governments across regions are also promoting AI-based solutions by investing in R&D and establishing educational programs to train and develop a workforce on AI solutions and services. For instance, in February 2019, the Federal government of the US announced a plan to facilitate R&D and deploy AI-related technologies as well as to train the workforce in AI. In January 2018, Microsoft invested approximately $33 million toward the development of an AI R&D hub in Taiwan. Thus, the increase in the number of startups and investments by major vendors and venture capital funding in R&D will drive the demand for AI technology. 

Key Artificial Intelligence-as-a-Service (AIaaS) Market Trend

Cloud-based solutions is the key market trend driving the global artificial intelligence-as-a-service (AIaaS) market growth. The growing adoption of cloud computing services across the globe is increasing the adoption of cloud-based applications that can be used by multiple end-user industries. The inherent benefits of cloud computing, such as minimal cost for infrastructure computing, scalability, reliability, and high resource availability, have driven enterprises to adopt cloud-based solutions. The adoption of cloud computing also eliminates the need for dedicated IT support teams, thus reducing the operating cost. To gain maximum benefits, enterprises are adopting services on a pay-per-use subscription basis. This is expected to accelerate the adoption of cloud-based applications through a service model. 

Key Artificial Intelligence-as-a-Service (AIaaS) Market Challenge

Data privacy issues is the major challenge impeding the global artificial intelligence-as-a-service (AIaaS) market growth. AI-based solutions leverage high volumes of data to derive insights into future business planning and optimization of operations. With the emergence of advanced AI solutions, concerns over data privacy are increasing. Data privacy issues arise in AI due to the tools' ability to make autonomous decisions and actions. Moreover, companies are using data anonymization techniques, wherein they generalize key details of a data point to prevent data breach while using AI. However, such sensitive data is key in AIaaS. Therefore, ensuring the privacy and anonymity of data points and large amounts of data is becoming a major challenge for companies.

This artificial intelligence-as-a-service (AIaaS) market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2020-2024.

Parent Market Analysis

Technavio categorizes the global Artificial Intelligence-as-a-Service (AIaaS) Market as a part of the global application software market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the artificial intelligence-as-a-service (AIaaS) market during the forecast period.

Who are the Major Artificial Intelligence-as-a-Service (AIaaS) Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Alphabet Inc.
  • Amazon.com Inc.
  • Apple Inc.
  • Intel Corp.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • Salesforce.com Inc.
  • SAP SE
  • SAS Institute Inc.

 

This statistical study of the artificial intelligence-as-a-service (AIaaS) market encompasses successful business strategies deployed by the key vendors. The artificial intelligence-as-a-service (AIaaS) market is concentrated and the vendors are deploying growth strategies such as expanding their geographical presence and entering into long-term partnerships with end-user to compete in the market.

Product Insights and News

  • Alphabet Inc. - The company offers AI Hub, AI building blocks, AI Platform that empowers machine learning developers, data scientiests and data engineers to manage their projects from ideation to deployment.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The artificial intelligence-as-a-service (AIaaS) market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Artificial Intelligence-as-a-Service (AIaaS) Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the artificial intelligence-as-a-service (AIaaS) market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

Which are the Key Regions for Artificial Intelligence-as-a-Service (AIaaS) Market?

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40% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for artificial intelligence-as-a-service (AIaaS) market in North America. Market growth in this region will be faster than the growth of the market in Europe.

The market for AIaaS is growing owing to the high adoption of cloud, AI, ML, and big data analysis to draw business insights. The region is also experiencing an increase in data generation from industries which will facilitate the artificial intelligence-as-a-service (AIaaS) market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The AIaaS market in North America is witnessing a temporary decline in growth rate, owing to the COVID-19 pandemic in 2020. The temporary shutdown of the banking, government, IT, and other sectors may limit the adoption of AIaaS, which will hinder the growth of the market during the forecast period.

What are the Revenue-generating End-user Segments in the Artificial Intelligence-as-a-Service (AIaaS) Market?

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The artificial intelligence-as-a-service (AIaaS) market share growth by the retail and healthcare segment will be significant during the forecast period. The global artificial intelligence-as-a-service (AIaaS) market is growing because organizations across the globe are integrating AIaaS in their ERP software to derive meaningful insights from large volumes of data. Another factor that significantly increases the adoption of AIaaS in the retail sector is the increasing investment in warehouses. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the artificial intelligence-as-a-service (AIaaS) market size and actionable market insights on post COVID-19 impact on each segment.

 

Artificial Intelligence-as-a-Service (AIaaS) Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 48.22%

Market growth 2020-2024

$ 15.14 billion

Market structure

Concentrated

YoY growth (%)

42.68

Regional analysis

North America, APAC, Europe, and South America

Performing market contribution

North America at 40%

Key consumer countries

US, China, Germany, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Alphabet Inc., Amazon.com Inc., Apple Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, and SAS Institute Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Artificial Intelligence-as-a-Service (AIaaS) Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive artificial intelligence-as-a-service (AIaaS) market growth during the next five years
  • Precise estimation of the artificial intelligence-as-a-service (AIaaS) market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the artificial intelligence-as-a-service (AIaaS) industry across North America, APAC, Europe, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of artificial intelligence-as-a-service (AIaaS) market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Application software

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 15: End user - Market share 2020-2025 (%)
    • 5.2 Comparison by End user
      • Exhibit 16: Comparison by End user
    • 5.3 Retail and healthcare - Market size and forecast 2020-2025
      • Exhibit 17: Retail and healthcare - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Retail and healthcare - Year-over-year growth 2020-2025 (%)
    • 5.4 BFSI - Market size and forecast 2020-2025
      • Exhibit 19: BFSI - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: BFSI - Year-over-year growth 2020-2025 (%)
    • 5.5 Telecommunication - Market size and forecast 2020-2025
      • Exhibit 21: Telecommunication - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Telecommunication - Year-over-year growth 2020-2025 (%)
    • 5.6 Government and defense - Market size and forecast 2020-2025
      • Exhibit 23: Government and defense - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Government and defense - Year-over-year growth 2020-2025 (%)
    • 5.7 Others - Market size and forecast 2020-2025
      • Exhibit 25: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
    • 5.8 Market opportunity by End user
      • Exhibit 27: Market opportunity by End user

    6 Customer landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 29: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 30: Geographic comparison
    • 7.3 North America - Market size and forecast 2020-2025
      • Exhibit 31: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: North America - Year-over-year growth 2020-2025 (%)
    • 7.4 APAC - Market size and forecast 2020-2025
      • Exhibit 33: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: APAC - Year-over-year growth 2020-2025 (%)
    • 7.5 Europe - Market size and forecast 2020-2025
      • Exhibit 35: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: Europe - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 37: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 38: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 39: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 40: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 41: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 42: Market opportunity by geography

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 43: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Overview
          • 9.2 Vendor landscape
            • Exhibit 44: Vendor landscape
          • 9.3 Landscape disruption
            • Exhibit 45: Landscape disruption
            • Exhibit 46: Industry risks

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 47: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 48: Market positioning of vendors
          • 10.3 Alphabet Inc.
            • Exhibit 49: Alphabet Inc. - Overview
            • Exhibit 50: Alphabet Inc. - Business segments
            • Exhibit 51: Alphabet Inc.-Key news
            • Exhibit 52: Alphabet Inc. - Key offerings
            • Exhibit 53: Alphabet Inc. - Segment focus
          • 10.4 Amazon.com Inc.
            • Exhibit 54: Amazon.com Inc. - Overview
            • Exhibit 55: Amazon.com Inc. - Business segments
            • Exhibit 56: Amazon.com Inc.- Key news
            • Exhibit 57: Amazon.com Inc. - Key offerings
            • Exhibit 58: Amazon.com Inc. - Segment focus
          • 10.5 Apple Inc.
            • Exhibit 59: Apple Inc. - Overview
            • Exhibit 60: Apple Inc. - Business segments
            • Exhibit 61: Apple Inc. -Key news
            • Exhibit 62: Apple Inc. - Key offerings
            • Exhibit 63: Apple Inc. - Segment focus
          • 10.6 Intel Corp.
            • Exhibit 64: Intel Corp. - Overview
            • Exhibit 65: Intel Corp. - Business segments
            • Exhibit 66: Intel Corp. -Key news
            • Exhibit 67: Intel Corp. - Key offerings
            • Exhibit 68: Intel Corp. - Segment focus
          • 10.7 International Business Machines Corp.
            • Exhibit 69: International Business Machines Corp. - Overview
            • Exhibit 70: International Business Machines Corp. - Business segments
            • Exhibit 71: International Business Machines Corp.- Key news
            • Exhibit 72: International Business Machines Corp. - Key offerings
            • Exhibit 73: International Business Machines Corp. - Segment focus
          • 10.8 Microsoft Corp.
            • Exhibit 74: Microsoft Corp. - Overview
            • Exhibit 75: Microsoft Corp. - Business segments
            • Exhibit 76: Microsoft Corp.- Key news
            • Exhibit 77: Microsoft Corp. - Key offerings
            • Exhibit 78: Microsoft Corp. - Segment focus
          • 10.9 Oracle Corp.
            • Exhibit 79: Oracle Corp. - Overview
            • Exhibit 80: Oracle Corp. - Business segments
            • Exhibit 81: Oracle Corp. - Key offerings
            • Exhibit 82: Oracle Corp. - Segment focus
          • 10.10 Salesforce.com Inc.
            • Exhibit 83: Salesforce.com Inc. - Overview
            • Exhibit 84: Salesforce.com Inc. - Business segments
            • Exhibit 85: Salesforce.com Inc. -Key news
            • Exhibit 86: Salesforce.com Inc. - Key offerings
            • Exhibit 87: Salesforce.com Inc. - Segment focus
          • 10.11 SAP SE
            • Exhibit 88: SAP SE - Overview
            • Exhibit 89: SAP SE - Business segments
            • Exhibit 90: SAP SE - Key news
            • Exhibit 91: SAP SE - Key offerings
            • Exhibit 92: SAP SE - Segment focus
          • 10.12 SAS Institute Inc.
            • Exhibit 93: SAS Institute Inc. - Overview
            • Exhibit 94: SAS Institute Inc. - Product and service
            • Exhibit 95: SAS Institute Inc.- Key news
            • Exhibit 96: SAS Institute Inc. - Key offerings

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 97: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 98: Research Methodology
              • Exhibit 99: Validation techniques employed for market sizing
              • Exhibit 100: Information sources
            • 11.4 List of abbreviations
              • Exhibit 101: List of abbreviations

            Research Framework

            Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            The artificial intelligence-as-a-service market market growth will increase by $15.14 billion during 2020-2024.
            The artificial intelligence-as-a-service market market is expected to grow at a CAGR of 48.22% during 2020-2024.
            Technavio has segmented the artificial intelligence-as-a-service market market by end user (Retail and healthcare, BFSI, Telecommunications, Government and defense, and Others) and geographic (North America, APAC, Europe, MEA, South America, North America, APAC, Europe, and South America).
            Alphabet Inc., Amazon.com Inc., Apple Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, SAS Institute Inc. are a few of the key vendors in the artificial intelligence-as-a-service market market.
            North America will register the highest growth rate of 39.83% among the other regions. Therefore, the artificial intelligence-as-a-service market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the artificial intelligence-as-a-service market market growth are:
            • Increasing investment in R&D
            • In creasing integration of AIaaS with Blockchain
            The artificial intelligence-as-a-service market market vendors should focus on grabbing business opportunities from the retail and healthcare segment as it accounted for the largest market share in the base year.
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