ICT and Media

Artificial Intelligence as a Service (AIaaS) Market Set to Record a CAGR of Approx 56.7% During 2018-2025

Artificial Intelligence as a Service (AIaaS) is the third party offering of artificial intelligence (AI) outsourcing. AI as a service allows individuals and companies to experiment with AI for various purposes without large initial investment and with lower risk. Experimentation can allow the sampling of multiple public cloud platforms to test different machine learning algorithms.

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.

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The machine learning segment secured the highest share of about 42.0% in the artificial intelligence market in 2017 and is expected to grow at a CAGR of 55.9% during the forecast period. The large enterprises segment is the highest contributor in the growth of the AIaaS market. This segment secured 66.0% share in the market and is projected to grow at a CAGR of 57.0% during the forecast period. In terms of industry vertical, the IT & telecom segment is expected to contribute the highest market share in the coming years, as various new startups have been investing in artificial intelligence solutions. Moreover, the rapid urbanization, technological advancement and increase in demand for cloud applications fuel the demand for AIaaS in the developing economies.

Asia pacific is expected to witness the highest growth in artificial intelligence as a service market during forecast period, owing to presence of the key artificial intelligence companies in the region.

Key Findings of the Artificial Intelligence as a Service Market:
• In 2017, the IT & telecom segment dominated the global artificial intelligence as a service market, in terms of revenue, and is projected to grow at a CAGR of 57.4% during the forecast period.
• The machine learning segment is projected to grow at a CAGR of 55.9% during the forecast period.
• North America is projected to be one of the fastest growing region in the artificial intelligence as a service market and is expected to witness high growth rate.

The major players, such as Amazon, Microsoft Corporation, Alphabet Inc. (Google Inc.), IBM Corporation, Apple Inc., Intel, Inc., SAP SE, Salesforce, Inc., Fair Isaac Corporation, and CognitiveScale, Inc., focus on developing new products. These companies have expanded their business by collaborating with other small vendors.

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Market Segment by Manufacturers, this report covers – Alphabet Inc. (Google Inc.), Apple Inc., Amazon Inc., IBM Corporation, CognitiveScale, Inc., Microsoft Corporation, Intel, Inc., SAP SE, Salesforce, Inc., Fair Isaac Corporation

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

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Market Segment by Table of Contents:
Chapter 1: Introduction
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools & models
Chapter 2: Executive summary
2.1. CXO perspective
Chapter 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. Porter’s five forces analysis
3.4. Key player positioning, 2018
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Increased market for cloud computing
3.5.1.2. Growth associated with artificial intelligence and cognitive computing
3.5.2. Restraints
3.5.2.1. Dearth of trained professionals
3.5.3. Opportunity
3.5.3.1. Increased adoption of analytical solutions
3.5.3.2. Increased application areas

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Jena Davydova

Chief editor of review team at The Innovative Reports and Market Research Analyst, Jena is an expert in the area of B2B and SaaS related products. She has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.

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