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.
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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.
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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
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 Isaa
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