The AI as a Service Market is Predict to reach USD 116.7 Billion by 2030, at a CAGR of 41.4%

AI as a Service Market Growth, Trends and Report Highlights

According to a new report, published by KBV research, The Global AI as a Service Market size is expected to reach $116.7 billion by 2030, rising at a market growth of 41.4% CAGR during the forecast period.

The Small & Medium-Sized Enterprises segment is exhibiting a CAGR of 44% during (2023 - 2030). Small and medium-sized enterprises (SMEs) can allocate their attention to their fundamental business operations while the service provider handles the intricacies of AI development and management. This allows SMEs to allocate resources more efficiently and focus on driving business growth. AIaaS enables SMEs to deploy AI solutions quickly and bring new services as well as products to the market quickly. By leveraging pre-built AI models and APIs offered by AIaaS providers, SMEs can accelerate the development and deployment of AI applications, gaining a competitive edge in their respective markets. Therefore, as AI continues to play an important role in driving business development and innovation, the demand for AIaaS among SMEs is expected to continue growing in the coming years.

The Infrastructure as a Service segment is generating the highest revenue in the Global AI as a Service Market by Offering in 2022; thereby, achieving a market value of $51.2 billion by 2030. IaaS platforms offer a high degree of flexibility and customization, allowing organizations to tailor their infrastructure to the specific requirements of their AI workloads. This flexibility is crucial for implementing specialized hardware configurations or optimizing infrastructure for specific AI tasks, such as deep learning or data processing. IaaS providers often offer access to advanced hardware, such as GPUs (Graphics Processing Units) and TPUs (Tensor Processing Units), which are well-suited for accelerating AI workloads like deep learning.

The Private Cloud segment is registering a CAGR of 42.1% during (2023 - 2030). Public clouds offer scalable and flexible computing resources, allowing businesses to scale their AI initiatives easily based on demand. Pay-as-you-go public cloud providers often allow businesses to pay just for the services they utilize. Additionally, having a worldwide presence, public cloud providers offer high availability to businesses worldwide.

The Machine Learning segment is leading the Global AI as a Service Market by Technology in 2022; thereby, achieving a market value of $44 billion by 2030. Machine learning algorithms are adept at predictive analytics, forecasting future trends based on historical data. This capability is valuable for businesses in various domains, such as finance for predicting market trends, healthcare for diagnosing diseases and manufacturing for predicting equipment failures. The demand for machine learning technology in AIaaS is driven by the need to accelerate research, improve patient outcomes, and optimize healthcare operations.

The IT & Telecom segment is experiencing a CAGR of 40.9% during (2023 - 2030). The IT and telecom segment is one of the largest AI tools and technologies consumers, contributing to its growth. This is because it improves productivity and makes handling complex software development projects easier. AIaaS can automate IT operations, such as IT service management, infrastructure provisioning, and application deployment. AI-powered automation can streamline IT workflows, reduce manual errors, and improve operational efficiency, allowing IT and telecom companies to focus on strategic initiatives.

Full Report: https://www.kbvresearch.com/ai-as-a-service-market/

The North America region dominated the Global AI as a Service Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $43.8 billion by 2030. The Europe region is anticipating a CAGR of 41% during (2023 - 2030). Additionally, The Asia Pacific region would exhibit a CAGR of 42.1% during (2023 - 2030).

List of Key Companies Profiled

• IBM Corporation
• Microsoft Corporation
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• Oracle Corporation
• Google LLC (Alphabet Inc.)
• Fair Isaac Corporation (FICO)
• Baidu, Inc.
• SAS Institute, Inc.
• SAP SE
• Salesforce, Inc.

AI as a Service Market Report Segmentation

By Organization Size

• Large Enterprises
• Small & Medium-Sized Enterprises

By Offering

• Infrastructure as a Service
• Platform as a Service
• Software as a Service

By Cloud Type

• Public Cloud
• Private Cloud
• Hybrid Cloud

By Technology

• Machine Learning
• Natural Language Processing
• Context Awareness
• Computer Vision

By Vertical

• BFSI
• IT & Telecom
• Retail & eCommerce
• Manufacturing
• Healthcare & Life Sciences
• Government & Defense
• Energy & Utilities
• Others

By Geography

• North America
  • US
  • Canada
  • Mexico
  • Rest of North America
• Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
• LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA

Related Reports:

North America AI as a Service Market Size, Share by 2030

• February-2024
• 171 Pages

LAMEA AI as a Service Market Size, Share & Forecast, 2030

• February-2024
• 186 Pages

Europe AI as a Service Market Size, Share & Growth 2030

• February-2024
• 185 Pages

Asia Pacific AI as a Service Market Size & Analysis, 2030

• February-2024
• 188 Pages