The North America AI as a Service Market should witness market growth of 39.9% CAGR during the forecast period (2023-2029).
AI as a Service (AIaaS) describes the subscription-based cloud-based distribution of artificial intelligence (AI) tools and capabilities. Organizations can use cloud-based AI services in place of developing or maintaining their individual AI infrastructure. Offerings for AI as a service frequently include pre-built machine learning models, computer vision services, NLP tools, and other artificial intelligence capabilities that may be quickly incorporated into existing applications or utilized to create entirely new applications that AI powers.
For a very long time, AI was out of reach for most businesses due to the large, expensive equipment and the few (and therefore expensive) programmers who developed them. As a result, many businesses lacked adequate data for the study. But as cloud services have become so widely available, AI has become more available. Companies nowadays have access to unlimited data sets that can be collected and stored, with which AI as a Service can help.
The technology sector in Canada is booming. Canada has about 43,200 companies in the information and communications technology (ICT) sector. The use of artificial intelligence in conjunction with 5G's immediate response, as well as hyper-connectivity, is renewing the field's promise even though it has been prevalent for the past ten years. Various businesses already utilize AI to enhance resource usage, demand forecasting, and behavioral patterns; however, as AI approaches real-time data analysis, personalized requests will be met faster. Although the digital transformation was already underway in Canada prior to the pandemic, it has accelerated due to the need to adopt and develop new technology. In AI, Canada is making significant investments. Therefore, the region presents lucrative growth prospects for the market throughout the forecast period.
The US market dominated North America AI as a Service Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $21,917 million by 2029. The Canada market is poised to grow at a CAGR of 43% during (2023-2029). Additionally, The Mexico market should witness a CAGR of 41.8% during (2023-2029).
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-Sized Enterprises. Based on Offering, the market is segmented into Infrastructure as a Service, Platform as a Service and Software as a Service. Based on Technology, the market is segmented into Machine Learning, Natural Language Processing, Context Awareness and Computer Vision. Based on Cloud Type, the market is segmented into Public Cloud, Private Cloud and Hybrid Cloud. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Retail & eCommerce, Manufacturing, Healthcare & Life Sciences, Government & Defense, Government & Defense and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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 and Salesforce, Inc.
AI as a Service (AIaaS) describes the subscription-based cloud-based distribution of artificial intelligence (AI) tools and capabilities. Organizations can use cloud-based AI services in place of developing or maintaining their individual AI infrastructure. Offerings for AI as a service frequently include pre-built machine learning models, computer vision services, NLP tools, and other artificial intelligence capabilities that may be quickly incorporated into existing applications or utilized to create entirely new applications that AI powers.
For a very long time, AI was out of reach for most businesses due to the large, expensive equipment and the few (and therefore expensive) programmers who developed them. As a result, many businesses lacked adequate data for the study. But as cloud services have become so widely available, AI has become more available. Companies nowadays have access to unlimited data sets that can be collected and stored, with which AI as a Service can help.
The technology sector in Canada is booming. Canada has about 43,200 companies in the information and communications technology (ICT) sector. The use of artificial intelligence in conjunction with 5G's immediate response, as well as hyper-connectivity, is renewing the field's promise even though it has been prevalent for the past ten years. Various businesses already utilize AI to enhance resource usage, demand forecasting, and behavioral patterns; however, as AI approaches real-time data analysis, personalized requests will be met faster. Although the digital transformation was already underway in Canada prior to the pandemic, it has accelerated due to the need to adopt and develop new technology. In AI, Canada is making significant investments. Therefore, the region presents lucrative growth prospects for the market throughout the forecast period.
The US market dominated North America AI as a Service Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $21,917 million by 2029. The Canada market is poised to grow at a CAGR of 43% during (2023-2029). Additionally, The Mexico market should witness a CAGR of 41.8% during (2023-2029).
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-Sized Enterprises. Based on Offering, the market is segmented into Infrastructure as a Service, Platform as a Service and Software as a Service. Based on Technology, the market is segmented into Machine Learning, Natural Language Processing, Context Awareness and Computer Vision. Based on Cloud Type, the market is segmented into Public Cloud, Private Cloud and Hybrid Cloud. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Retail & eCommerce, Manufacturing, Healthcare & Life Sciences, Government & Defense, Government & Defense and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include 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 and Salesforce, Inc.
Scope of the Study
By Organization Size
- Large Enterprises
- Small & Medium-Sized Enterprises
By Offering
- Infrastructure as a Service
- Platform as a Service
- Software as a Service
By Technology
- Machine Learning
- Natural Language Processing
- Context Awareness
- Computer Vision
By Cloud Type
- Public Cloud
- Private Cloud
- Hybrid Cloud
By Vertical
- BFSI
- IT & Telecom
- Retail & eCommerce
- Manufacturing
- Healthcare & Life Sciences
- Government & Defense
- Energy & Utilities
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- 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.
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 3. Competition Analysis - Global
Chapter 4. North America AI as a Service Market by Organization Size
Chapter 5. North America AI as a Service Market by Offering
Chapter 6. North America AI as a Service Market by Technology
Chapter 7. North America AI as a Service Market by Cloud Type
Chapter 8. North America AI as a Service Market by Vertical
Chapter 9. North America AI as a Service Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- 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.
Methodology
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