The North America Cloud AI Market would witness market growth of 36.7% CAGR during the forecast period (2023-2029).
Customers are moving to a "cloud first" strategy for updating/replacing traditional systems and to a "cloud only" approach when constructing their next-generation competitive advantage systems and offerings. This is because none of the third platform technologies, including big data & analytics, the Internet of Things (IoT), and cognitive/AI technologies, are feasible without the cloud serving as the basis. In addition, nearly all international IT experts agree that the continued advancement of cloud technology will significantly advance AI capabilities.
Another factor contributing to the expansion of AI in cloud applications is improving the speed at which goods are produced and delivered to clients. Conventional robotic process automation (RPA) technology can only perform simple screen automation, which is the laborious process of manually collecting data from one application, validating it, and then pasting it into another. Current RPA suppliers use laborious, time-consuming bespoke code based on versioning, governance, and deployment components to incorporate machine learning applications.
The Canadian government has a "cloud-first" strategy, according to which cloud services are recognized and assessed as the primary delivery option when beginning information technology investments, initiatives, plans, and projects. The cloud is also anticipated to give the Canadian government access to the inventiveness of private-sector suppliers to improve the agility of its information technology. Cloud suppliers are boosting the demand for AI by providing a range of tools and services that simplify creating, testing, improving, and using AI systems without making significant initial investments. All these factors are predicted to lead to market growth in the North America region.
The US market dominated the North America Cloud AI Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $93,621.6 million by 2029. The Canada market is poised to grow at a CAGR of 39.8% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 38.6% during (2023 - 2029).
Based on Type, the market is segmented into Solution and Services. Based on Industry, the market is segmented into IT & Telecom, Government, Manufacturing, BFSI, Automotive & Transportation, Healthcare & Life Sciences, Retail, and Others. Based on Technology, the market is segmented into Solution Deep Learning, Machine Learning, Natural Language Processing, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Cloud AI Market is Projected to reach USD 395.8 Billion by 2029, at a CAGR of 38.4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Apple, Inc., Google LLC (Alphabet, Inc.), IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, MicroStrategy, Inc., NVIDIA Corporation, Salesforce, Inc. and QlikTech International AB.
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