Selbyville, Delaware According to the recent research report titled ‘GLOBAL Artificial Intelligence As A Service Market 2019-2027’, available with Market Study Report LLC, global artificial intelligence as a service market is projected to record considerable growth over 2019-2027.
Growing adoption of cloud computing technology and increasing usage of social media platforms are primarily stimulating global artificial intelligence as a service market growth.
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For those unversed, artificial intelligence (AI) is a branch of computer science that allows computers or machines to perform tasks with the efficacy of humans. AI allows computers to think and behave in the same way as humans do. Visual awareness, decision-making, and speech recognition are some of the tasks that an AI-developed model can perform.
Artificial Intelligence as a Software (AIaS) is a better and more cost-effective solution for businesses that lack the expertise or funds to build their own AI software. Cloud technology can assist AIs by providing the necessary data for learning processes, and AI can assist the cloud by providing information that can generate more data.
Coming to the factors restraining global artificial intelligence as a service industry expansion, lack of professionals and awareness regarding AI systems is negatively impacting the product adoption. Moreover, issues of data breach & identity theft coupled with lack of computing power are also hampering the remuneration scope of the industry.
Based on industry verticals, global artificial intelligence as a service market is split into healthcare, energy utilities, public sector, manufacturing, retail, IT & telecom, BFSI, and others. With respect to technology type, the industry is bifurcated into natural language processing, computer vision, machine learning, and others. As per organization size, the market is categorized into large enterprise and small & medium enterprise.
Regionally, Asia Pacific is likely to generate lucrative returns for global artificial intelligence as a service market in the ensuing years. Japan, one of the most important countries in the Asia-Pacific region, is the market’s fastest growing economy. Meanwhile, North America held considerable portion of the overall market share in 2018 and is expected to record substantial growth in the upcoming years.
Major firms influencing global artificial intelligence as a service market trends are Alphabet Inc. (Google LLC), BigML Inc., Apple Inc., CognitiveScale Inc., DataRobot Inc., Yottamine Analytics, International Business Machines Corporation, H2O.ai, Fuzzy.ai, Salesforce.com Inc., SAS Institute Inc., Microsoft Corporation, Vital AI LLC, Absolutdata, SAP SE, Centurysoft, Amazon.com Inc. (Amazon Web Services), Intel Corporation, and Fair Isaac Corporation.
Question and Answer: Global Artificial Intelligence as a Service Market
Q1) What are the key driving forces of global artificial intelligence as a service market?
Answer: Growing adoption of cloud computing technology and increasing usage of social media platforms are primarily stimulating global artificial intelligence as a service market growth.
Q2) Which region will emerge as a major growth avenue for worldwide artificial intelligence as a service industry over 2019-2027?
Answer: Asia Pacific is anticipated to emerge as a lucrative growth hub for the industry in the upcoming years, with Japan at the forefront.
Q3) Which are the top companies in global artificial intelligence as a service market?
Answer: Major firms influencing global artificial intelligence as a service market trends are Alphabet Inc. (Google LLC), BigML, Apple Inc., CognitiveScale Inc., DataRobot Inc., Yottamine Analytics, International Business Machines Corporation, H2O.ai, Fuzzy.ai, and Salesforce.com Inc. among others.
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