Artificial Intelligence as a Service (AIaaS) Market by Technology (Machine Learning, Computer Vision, Natural Language Processing, and Others), Organization Size (Small & Medium Enterprise and Large Enterprise), and Industry Vertical (BFSI, IT & Telecom, Retail, Manufacturing, Public Sector, Energy & Utility, Healthcare, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2025
The global artificial intelligence as a service market size (AIaaS Market size) is expected to reach $77,047.7 million in 2025, from $2,397.2 million in 2017 growing at a CAGR of 56.7% from 2018 to 2025. AIaaS incorporates a range of services that offer AI tools through cloud computing services. Google, IBM, Intel, Microsoft, and Apple Inc. are some of the leading players of the global AIaaS market.
Increased penetration of cloud-based solutions and growth associated with the artificial intelligence and cognitive computing market are the major factors that boost the growth of the AIaaS market. In addition, growth in IT expenditure in emerging nations and technological advancement for workflow optimization fuel the demand for advanced analytical systems driving the artificial intelligence as a service market. However, limited availability of trained professionals is expected to impede the market growth. Furthermore, increase in application areas and growth of IoT are the factors expected to create lucrative growth opportunities for the artificial intelligence as a service market.
The global AIaaS market is segmented by technology, organization size, industry vertical, and region. Based on technology, the market is classified into machine learning, computer vision, natural language processing, and others. In 2017, the machine learning segment dominated the market, in terms of revenue, and is expected to maintain this trend in the coming years, owing to increase in demand for the artificial intelligence industry solutions. Based on organization size, the market is categorized into small & medium enterprise and large enterprise. By industry vertical, the market is classified into BFSI, retail, telecom & IT, healthcare, manufacturing, public sector, energy & utilities, and others (agriculture, law, media & advertising, educational institutions). The IT & telecom segment is anticipated to dominate the global artificial intelligence as a service market throughout the forecast period. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2017, North America contributed the highest share in the artificial intelligence as a service market and is anticipated to secure the leading position during the forecast period, owing to the presence of key market players and huge investment.
KEY MARKET SEGMENTS
BY TECHNOLOGY Machine Learning (ML) Computer Vision Natural Language Processing (NLP) Others
BY ORGANIZATION SIZE Small & Medium Enterprise Large Enterprise
BY INDUSTRY VERTICAL BFSI IT & Telecom Retail Manufacturing Public Sector Energy & Utility Healthcare Others
BY REGION North America U.S. Canada Mexico Europe Germany UK France Russia Rest of Europe Asia-Pacific China Japan India Australia Rest of Asia-Pacific LAMEA Latin America Middle East Africa
KEY PLAYERS Alphabet Inc. (Google Inc.) Apple Inc. Amazon Inc. IBM Corporation CognitiveScale, Inc. Microsoft Corporation Intel, Inc. SAP SE Salesforce, Inc. Fair Isaac Corporation
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