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AI as a Service Market Trends

Report ID: GMI5714
Published Date: May 2023
Report Format: PDF

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AI as a Service Market Trends

The growing adoption of AI & technological advancements for enhancing business processes is increasing the demand for AI services. Also, the expanding application areas and the growing demand for IoT are set to offer growth opportunities for the market. The increased acceptance of multi-cloud functioning and the rising demand for cloud-based services are further contributing to industry demand. According to HashiCorp’s State of Cloud Strategy Survey in 2021, 76% of 3,205 respondents worked on multi-cloud environments. The survey also reported that 86% of respondents will use multi-cloud environments by the end of 2023.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The AI as a service industry size was worth USD 6.4 billion in 2022 and is set to register 25% CAGR between 2023 and 2032.

The SMEs segment will record over 30% CAGR from 2023 to 2032, due to the growing digitalization and adoption of AI solutions by SMEs for enhancing their business operations.

The U.S. market size exceeded USD 1.2 billion in 2022 and will expand at a significant pace from 2023-2032, attributed to the abundance of large enterprises and the IT infrastructure.

Alibaba.Com, Alphabet Inc. (Google LLC), Amazon Web Services, Inc., Baidu, CognitiveScale, Inc., Craft.AI, DATAIKU SAS, IBM Corporation, Intel Corporation, Microsoft Corporation, Oracle Corporation, Salesforce.com Inc., and SAP SE.