AI as a Service Market Growth Potential & Forecast, 2032

As per a recent research report, AI as a Service Market surpass USD 110 Bn by 2032.

Increasing data availability and advancements in cloud computing are cited as chief drivers of the industry. The proliferation of data and the rise of cloud computing are stimulating AI models as businesses are now generating vast volumes of high-quality data to train effectively. Cloud computing platforms provide the necessary infrastructure to store, process, and analyze this data, making it easier for AIaaS providers to offer their services at scale. Moreover, the ease of integration with existing systems facilitates the adoption of AI across various industries and is contributing to industry demand.

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AI as a Service market from the large enterprises segment accounted for a significant revenue share in 2022, attributed to fluctuating demands for AI services based on the business cycles, seasonal variations, or specific projects in these organizations. AI as a service offers scalability and flexibility, allowing organizations to adjust their AI usage based on their needs. In addition, the ability to offload the burden of AI development, deployment, and maintenance to specialized providers aids large firms to save costs & effort.

The private cloud segment will depict a considerable growth from 2023 to 2032 owing to greater control and customization over AI solutions. Private cloud services enable businesses to tailor AI models and algorithms to their specific needs, ensuring compliance and security of proprietary information. Moreover, it allows organizations to deploy AI services closer to their data sources, reducing latency and ensuring optimal performance.

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APAC AI as a Service market is expected to amass substantial gains by 2032. Countries such as China, Japan, South Korea, and Singapore invest heavily on AI R&D, pursuing digital transformation initiatives across various sectors such as healthcare, finance, manufacturing, and retail. This transformation provides intelligent solutions for automation, data analytics, customer engagement, and personalized services, which will spur the regional market progression in the upcoming years.

Partial chapters of report table of contents (TOC):

Chapter 2   Executive Summary

2.1    AI as a service industry 360ยบ synopsis, 2018 - 2032

2.2    Business trends

2.2.1    Total Addressable Market (TAM)

2.3    Regional trends

2.4    Deployment type trends

2.5    Organization size trends

2.6    End-use trends

Chapter 3   AI as a Service Market Industry Insights

3.1    Impact on COVID-19 impact

3.2    Russia- Ukraine war impact

3.3    Industry ecosystem analysis

3.4    Vendor matrix

3.5    Profit margin analysis

3.6    Technology & innovation landscape

3.7    Patent analysis

3.8    Key news and initiatives

3.9    Regulatory landscape

3.10    Impact forces

3.10.1    Growth drivers

3.10.1.1    Growing number of innovative startups across the globe

3.10.1.2    Strong government initiatives to promote AI-based infrastructure worldwide

3.10.1.3    Increasing importance of data-driven decisions in businesses

3.10.1.4    High investments by enterprises in AI services

3.10.2    Industry pitfalls & challenges

3.10.2.1    Lack of skilled and qualified staff

3.10.2.2    Data security issues

3.11    Growth potential analysis

3.12    Porter’s analysis

3.13    PESTEL analysis

 

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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