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AI as a Service Market by Offering (SaaS, PaaS, IaaS), Technology (Machine Learning, Natural Language Processing, Context Awareness, Computer Vision), Cloud Type (Public, Private, Hybrid), Organization Size, Vertical and Region - Global Forecast to 2028

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    Report

  • 327 Pages
  • May 2023
  • Region: Global
  • Markets and Markets
  • ID: 4519596

High Demand for Platform Transferring Data from On-Premises to Cloud to Drive Market

The market for AI as a Service is projected to grow from USD 9.3 billion in 2023 to USD 55.0 billion by 2028, at a CAGR of 42.6% during the forecast period. AI as a service refers to the provision of AI tools and platforms by third-party providers to businesses that want to integrate AI into their operations. It provides companies with access to pre-built AI models, APIs, and other tools that can be easily integrated into their existing systems. The growth of AI as a service (AIaaS) is being driven by the increasing demand for AI-powered solutions across industries. The availability of big data and the rise of cloud computing have made it easier for businesses to adopt AIaaS. 

The large enterprises' segment is projected to be the largest market during the forecast period

Large enterprises have shown more inclination toward advanced technologies, such as AI, Machine Learning, and Natural Language Processing, than small and medium-sized enterprises. They possess a considerable amount of data across business functions, which they need to analyze for entity extraction, text classification, summarization, and sentiment analysis. AIaaS solutions help large enterprises develop and deploy new AI-driven products and services, enabling them to stay competitive and meet evolving customer demands. AIaaS is a crucial technology for large enterprises looking to stay at the forefront of technological innovation and drive growth in a fast-paced business environment.

The PaaS segment is registered to grow at the highest CAGR during the forecast period

Platform as a Service (PaaS) provides businesses with pre-built platforms and tools for developing and deploying AI applications. These platforms typically include pre-trained models and APIs, as well as development tools for customizing and building new models. With PaaS, businesses can leverage the expertise of the platform provider and quickly develop AI applications without having to build everything from scratch.

Among verticals, the BFSI vertical is anticipated to account for the largest market size during the forecast period

The BFSI industry is harnessing the power of AI to transform the way they engage with customers, manage risks, and optimize operations. These organizations leverage AI algorithms and tools to streamline processes, reduce costs, and enhance customer experiences. Banks use AI to improve fraud detection and prevention, customer identification and authentication, and personalized financial advice. Organizations in the BFSI space are investing heavily in AIaaS technologies to stay ahead in the race for digital transformation. By partnering with AIaaS providers, BFSI organizations can access cutting-edge AI technologies, such as natural language processing and predictive analytics, to improve their business outcomes and stay ahead of the competition.

North America to account for the largest market size during the forecast period

North America is estimated to account for the largest share of the AI as a Service market. The global market for AI as a Service is dominated by North America. North America is the highest revenue-generating region in the global AI as a Service market, with the US constituting the highest market share, followed by Canada. Countries such as the US, Canada, and Mexico are adopting AI technology in multiple application areas, propelling the growth of AI in this region. North America is a global leader in the development of AI technology, with many of the world’s largest AI companies based in the region. The region has witnessed favorable conditions for market growth due to the implementation of data management technologies, government regulations, established player presence, and interest from enterprises to apply ML and BI solutions.

Breakdown of primaries

In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the AI as a Service market.

  • By Company: Tier I: 35%, Tier II: 45%, and Tier III: 20%
  • By Designation: C-Level Executives: 35%, Directors: 25%, and Others: 40%
  • By Region: APAC: 30%, Europe: 20%, North America: 40%, MEA: 5%, Latin America: 5%

Major vendors offering AI as a Service solutions and services across the globe are IBM (US), Microsoft (US), Google (US), AWS (US), FICO (US), SAS Institute (US), Baidu (China, SAP (Germany), Salesforce (US), Oracle (US), Iris.AI (US), Craft.AI (France), BigML (US), H2O.ai (US), Vital.ai (US), Fuzzy.ai (Canada), RainBird Technologies (UK), SiftScience (US) DataBricks (US), CenturySoft (India), DataRobot (US), Alibaba (China), Tencent (China), Dataiku (US), Yottamine Analytics (US), Tecnotree (Finland), Cloudera (US), and Meya.ai (KSA).

Research Coverage

The market study covers AI as a service across segments. It aims at estimating the market size and the growth potential across different segments, such as offering, technology, cloud type, organization size, vertical, and region. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report 

The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall market for AI as a Service and its subsegments. It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies. It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.

The report provides insights on the following pointers: 

  • Analysis of key drivers (growth importance of data-driven decision making process), restraints (lack of skilled employees), opportunities (increase in need of intelligent business applications), and challenges (sensitivity involved in security of data) influencing the growth of the AI as a Service market 
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the AI as a Service market.
  • Market Development: Comprehensive information about lucrative markets - the report analyses the AI as a Service market across varied regions 
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in AI as a Service market strategies; the report also helps stakeholders understand the pulse of the AI as a Service market and provides them with information on key market drivers, restraints, challenges, and opportunities
  • Competitive Assessment: In-depth assessment of market shares, growth strategies and service offerings of leading players such as IBM (US), Google (US), AWS(US), Microsoft (US), Salesforce (US), among others in the AI as a Service market.
Frequently Asked Questions about the Global AI as a Service Market

What is the estimated value of the Global AI as a Service Market?

The Global AI as a Service Market was estimated to be valued at $9.3 billion in 2023.

What is the growth rate of the Global AI as a Service Market?

The growth rate of the Global AI as a Service Market is 42.6%, with an estimated value of $55 billion by 2028.

What is the forecasted size of the Global AI as a Service Market?

The Global AI as a Service Market is estimated to be worth $55 billion by 2028.

Who are the key companies in the Global AI as a Service Market?

Key companies in the Global AI as a Service Market include Absolutdata, Alibaba Cloud, Amd Xilinx, Aws, Baidu, Bigml, Century Soft, Cloudera, Craft.AI and Databricks.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Inclusions and Exclusions
1.4 Market Scope
1.4.1 Market Segmentation
1.4.2 Regions Covered
1.4.3 Years Considered
1.5 Currency Considered
Table 1 USD Exchange Rates, 2020-2022
1.6 Stakeholders
1.7 Summary of Changes
1.7.1 Impact of Recession

2 Research Methodology
2.1 Research Data
Figure 1 AI as a Service Market: Research Design
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Primary Interviews
2.1.2.2 Breakup of Primary Profiles
2.1.2.3 Key Industry Insights
2.2 Data Triangulation
2.3 Market Size Estimation
Figure 2 Market: Top-Down and Bottom-Up Approaches
2.3.1 Top-Down Approach
2.3.2 Bottom-Up Approach
Figure 3 Approach 1 (Supply Side): Revenue from Offering of AI as a Service Market
Figure 4 Approach 2 - Bottom-Up (Supply Side): Collective Revenue from Offering of AI as a Service Players
Figure 5 Approach 3 - Bottom-Up (Supply Side): Revenue and Subsequent Market Estimation from Offering of AI as a Service
Figure 6 Approach 4 - Bottom-Up (Demand Side): Share of AI as a Service Offering Through Overall AI as a Service Spending
2.4 Market Forecast
Table 2 Factor Analysis
2.5 Assumptions
2.6 Limitations
2.7 Impact of Recession on Global Market
Table 3 Impact of Recession on Global Market

3 Executive Summary
Table 4 AI as a Service Market Size and Growth Rate, 2017-2022 (USD Million, Y-O-Y Growth)
Table 5 Market Size and Growth Rate, 2023-2028 (USD Million, Y-O-Y Growth)
Figure 7 Iaas to Account for Larger Market Size in 2023 (USD Million)
Figure 8 Machine Learning to Account for Largest Market in 2023
Figure 9 Supervised Learning to be Largest Machine Learning Market in 2023
Figure 10 Public Cloud to Account for Higher Implementation in 2023
Figure 11 Large Enterprises Segment to be Larger Users in Market in 2023
Figure 12 Bfsi to be Largest Vertical Market in 2023
Figure 13 North America to Account for Largest Market Share in 2023

4 Premium Insights
4.1 Attractive Market Opportunities for AI as a Service Market Players
Figure 14 High Demand for Platform Transferring Data from On-Premises to Cloud to Drive Market
4.2 Overview of Recession in Global Market
Figure 15 Market to Witness Minor Decline in Y-O-Y Growth in 2023
4.3 Market, by Vertical
Figure 16 Healthcare and Life Sciences Vertical to be Fastest-Growing Market During Forecast Period
4.4 Market, by Region
Figure 17 North America to Account for Largest Market Share by 2028
4.5 Market: Top Component and Verticals
Figure 18 Offering and Bfsi to Account for Largest Respective Market Shares by 2028

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 19 Drivers, Restraints, Opportunities, and Challenges: AI as a Service Market
5.2.1 Drivers
5.2.1.1 Growth in Importance of Data-Driven Decision-Making in Business
5.2.1.2 Increase in Need to Provide Enhanced Customer Experience and Gain Competitive Advantage
5.2.1.3 Rise in Demand for AI-Powered Services in Api and Sdk Forms
5.2.2 Restraints
5.2.2.1 Lack of Skilled Employees
5.2.3 Opportunities
5.2.3.1 Increase in Need for Intelligent Business Applications
5.2.3.2 Growth in Demand for AI Service Integrators
5.2.4 Challenges
5.2.4.1 Sensitivity Involved with Security of Data

6 Industry Trends
6.1 Brief History of AI as a Service
6.2 Value Chain Analysis
Figure 20 AI as a Service Market: Value Chain Analysis
6.2.1 Data Collection & Preparation
6.2.2 Algorithm Development
6.2.3 Model Training
6.2.4 Model Testing & Validation
6.2.5 Deployment & Integration
6.2.6 Maintenance & Support
6.3 Ecosystem Mapping
Table 6 Market: Cloud Providers
Table 7 Market: Platform Providers
Table 8 Market: AI Service Providers
Table 9 Market: Data Providers
Table 10 Market: Business Applications
Table 11 AI as a Service Market: Regulatory Bodies
Figure 21 AI as a Service Ecosystem
6.4 Case Study Analysis
Table 12 Government & Defense: Microsoft Azure Aiaas Empowers Alaska Airlines to Optimize On-Time Performance with Predictive Maintenance
Table 13 Bfsi: Improving Customer Service and Fraud Detection with IBM Aiaas
Table 14 Healthcare: Transforming Patient Care and Engagement with Google Aiaas
Table 15 Retail: Aws Aiaas Improving Product Offerings, Pricing Strategies, and Marketing Campaigns
Table 16 Manufacturing: Optimizing Production Processes with Baidu Aiaas
Table 17 It/Ites: Automating Support Request Triage with Salesforce Aiaas
6.5 Technology Analysis
6.5.1 Related Technology
6.5.1.1 Machine Learning
6.5.1.2 Big Data
6.5.1.3 Natural Language Processing
6.5.1.4 Cloud Computing
6.5.2 Allied Technologies
6.5.2.1 Edge Computing
6.5.2.2 IoT
6.5.2.3 Blockchain
6.6 Porter's Five Forces Model
Table 18 AI as a Service Market: Porter's Five Forces Model
6.6.1 Threat of New Entrants
6.6.2 Threat of Substitutes
6.6.3 Bargaining Power of Buyers
6.6.4 Bargaining Power of Suppliers
6.6.5 Intensity of Competitive Rivalry
6.7 Patent Analysis
6.7.1 Methodology
6.7.2 Document Types
Table 19 Patents Filed, 2019-2022
6.7.3 Innovation & Patent Applications
Figure 22 Number of Patents Granted Annually, 2019-2022
6.7.3.1 Top Applicants
Figure 23 Top 10 AI as a Service Patent Applicants, 2019-2022
Table 20 List of Patents in AI as a Service Market, 2021-2023
6.8 Pricing Analysis
Table 21 Pricing Analysis
6.9 Key Stakeholders and Buying Criteria
6.9.1 Key Stakeholders in Buying Process
Figure 24 Influence of Stakeholders on Buying Process for Top Three Verticals
Table 22 Influence of Stakeholders on Buying Process for Top Three Verticals
6.9.2 Buying Criteria
Figure 25 Key Buying Criteria for Top Three Verticals
Table 23 Key Buying Criteria for Top Three Verticals
6.10 Disruptions Impacting Buyers/Clients in Market
Figure 26 Market: Disruptions Impacting Buyers/Clients
6.11 Key Conferences & Events
Table 24 AI as a Service Market: Detailed List of Conferences and Events, 2023-2024
6.12 Regulatory Landscape
6.12.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 25 North America: Regulatory Bodies, Government Agencies, and Other Organizations
Table 26 Europe: Regulatory Bodies, Government Agencies, and Other Organizations
Table 27 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 28 Row: Regulatory Bodies, Government Agencies, and Other Organizations
6.12.1.1 North America
6.12.1.1.1 US
6.12.1.1.2 Canada
6.12.1.2 Europe
6.12.1.3 Asia-Pacific
6.12.1.3.1 South Korea
6.12.1.3.2 China
6.12.1.3.3 India
6.12.1.4 Middle East & Africa
6.12.1.4.1 Uae
6.12.1.4.2 Ksa
6.12.1.4.3 Bahrain
6.12.1.5 Latin America
6.12.1.5.1 Brazil
6.12.1.5.2 Mexico
6.13 AI as a Service-Based Application in Data Centers
Table 29 AI as a Service-Based Application in Data Centers
6.14 AI as a Service Use Cases
6.14.1 Data Preparation & Management
Table 30 Data Preparation & Management Use Cases
6.14.1.1 Model Development, Training, and Tuning
Table 31 Model Development, Training, and Tuning Use Cases
6.14.1.2 Model Deployment & Management
Table 32 Model Deployment & Management Use Cases
6.14.1.3 Customization & Integration
Table 33 Customization & Integration Use Cases
6.14.1.4 Data Collection & Annotation
Table 34 Data Collection & Annotation Use Cases
6.14.1.5 Analytics & Monitoring
Table 35 Analytics & Monitoring Use Cases
6.15 Future Directions of AI as a Service Market Landscape
Table 36 Short-Term Roadmap, 2023-2025
Table 37 Mid-Term Roadmap, 2026-2028
Table 38 Long-Term Roadmap, 2029-2030

7 AI as a Service Market, by Offering
7.1 Introduction
7.1.1 Offering: Market Drivers
Figure 27 Market for Offering to Grow at Highest CAGR During Forecast Period
Table 39 Market, by Offering, 2017-2022 (USD Million)
Table 40 Market, by Offering, 2023-2028 (USD Million)
7.2 Infrastructure as a Service
7.2.1 Flexibility to Scale Up or Down Offered Based on AI Workloads
Table 41 Infrastructure as a Service Market, by Region, 2017-2022 (USD Million)
Table 42 Infrastructure as a Service Market, by Region, 2023-2028 (USD Million)
7.3 Platform as a Service
7.3.1 Accelerating AI Application Development and Deployment with Paas
Table 43 Platform as a Service Market, by Region, 2017-2022 (USD Million)
Table 44 Platform as a Service Market, by Region, 2023-2028 (USD Million)
7.4 Software as a Service
7.4.1 Easy Access and Adoption of AI Technology for Businesses
Table 45 Software as a Service Market, by Region, 2017-2022 (USD Million)
Table 46 Software as a Service Market, by Region, 2023-2028 (USD Million)

8 AI as a Service Market, by Technology
8.1 Introduction
8.1.1 Technology: Market Drivers
Figure 28 Computer Vision to Witness Higher CAGR During Forecast Period
Table 47 Market, by Technology, 2017-2022 (USD Million)
Table 48 Market, by Technology, 2023-2028 (USD Million)
8.2 Machine Learning
8.2.1 Empowering Businesses by Automating Processes, Analyzing Data, and Making Predictions
Figure 29 Supervised Learning to be Largest Market During Forecast Period
Table 49 Market, by Machine Learning, 2017-2022 (USD Million)
Table 50 Market, by Machine Learning, 2023-2028 (USD Million)
Table 51 Machine Learning: AI as a Service Market, by Region, 2017-2022 (USD Million)
Table 52 Machine Learning: Market, by Region, 2023-2028 (USD Million)
8.2.2 Deep Learning
8.2.2.1 Deep Learning to Drive Efficiency, Innovation, and Competitiveness
Table 53 Deep Learning: Market, by Region, 2017-2022 (USD Million)
Table 54 Deep Learning: Market, by Region, 2023-2028 (USD Million)
8.2.3 Supervised Learning
8.2.3.1 Supervised Learning to Empower Business Decision-Making
Table 55 Supervised Learning: Market, by Region, 2017-2022 (USD Million)
Table 56 Supervised Learning: Market, by Region, 2023-2028 (USD Million)
8.2.4 Unsupervised Learning
8.2.4.1 Increase in Use of Predictive Analytics in Project Management to Boost Profitability and Competitiveness
Table 57 Unsupervised Learning: Market, by Region, 2017-2022 (USD Million)
Table 58 Unsupervised Learning: Market, by Region, 2023-2028 (USD Million)
8.2.5 Reinforcement Learning
8.2.5.1 Employing Speech Recognition to Reduce Time and Effort
Table 59 Reinforcement Learning: AI as a Service Market, by Region, 2017-2022 (USD Million)
Table 60 Reinforcement Learning: Market, by Region, 2023-2028 (USD Million)
8.2.6 Other Machine Learning Technologies
Table 61 Other Machine Learning Technologies: Market, by Region, 2017-2022 (USD Million)
Table 62 Other Machine Learning Technologies: Market, by Region, 2023-2028 (USD Million)
8.3 Natural Language Processing
8.3.1 Nlp Utilized to Enhance Language Processing Capabilities
Table 63 Natural Language Processing: Market, by Region, 2017-2022 (USD Million)
Table 64 Natural Language Processing: Market, by Region, 2023-2028 (USD Million)
8.4 Context Awareness
8.4.1 Context Awareness Used to Provide Personalized User Experiences
Table 65 Context Awareness: Market, by Region, 2017-2022 (USD Million)
Table 66 Context Awareness: Market, by Region, 2023-2028 (USD Million)
8.5 Computer Vision
8.5.1 Leveraging AI Technology by Integrating Computer Vision into Businesses
Table 67 Computer Vision: Market, by Region, 2017-2022 (USD Million)
Table 68 Computer Vision: Market, by Region, 2023-2028 (USD Million)

9 AI as a Service Market, by Cloud Type
9.1 Introduction
9.1.1 Cloud Type: Market Drivers
Figure 30 Private Cloud to Witness Higher CAGR During Forecast Period
Table 69 Market, by Cloud Type, 2017-2022 (USD Million)
Table 70 Market, by Cloud Type, 2023-2028 (USD Million)
9.2 Public Cloud
9.2.1 Cost-Effective and Scalable AI Capabilities of Public Cloud
Table 71 Public Cloud: Market, by Region, 2017-2022 (USD Million)
Table 72 Public Cloud: Market, by Region, 2023-2028 (USD Million)
9.3 Hybrid Cloud
9.3.1 Ability to Deploy AI Workloads on Both Public and Private Infrastructures
Table 73 Hybrid Cloud: Market, by Region, 2017-2022 (USD Million)
Table 74 Hybrid Cloud: Market, by Region, 2023-2028 (USD Million)
9.4 Private Cloud
9.4.1 Higher Levels of Security and Control in Private Cloud
Table 75 Private Cloud: Market, by Region, 2017-2022 (USD Million)
Table 76 Private Cloud: Market, by Region, 2023-2028 (USD Million)

10 AI as a Service Market, by Organization Size
10.1 Introduction
10.1.1 Organization Size: Market Drivers
Figure 31 Small & Medium-Sized Enterprises to Witness Higher CAGR During Forecast Period
Table 77 Market, by Organization Size, 2017-2022 (USD Million)
Table 78 Market, by Organization Size, 2023-2028 (USD Million)
10.2 Small & Medium-Sized Enterprises
10.2.1 Need to Leverage Advanced Technologies Without Significant Upfront Investments
Table 79 Small & Medium-Sized Enterprises: Market, by Region, 2017-2022 (USD Million)
Table 80 Small & Medium-Sized Enterprises: Market, by Region, 2023-2028 (USD Million)
10.3 Large Enterprises
10.3.1 Growing Adoption of Aiaas to Improve Efficiency and Gain Competitive Advantage
Table 81 Large Enterprises: Market, by Region, 2017-2022 (USD Million)
Table 82 Large Enterprises: Market, by Region, 2023-2028 (USD Million)

11 Artificial Intelligence Market, by Vertical
11.1 Introduction
11.1.1 Vertical: Market Drivers
Figure 32 Healthcare & Life Sciences to Grow at Highest CAGR During Forecast Period
Table 83 Market, by Vertical, 2017-2022 (USD Million)
Table 84 Market, by Vertical, 2023-2028 (USD Million)
11.2 Banking, Financial Services, and Insurance
11.2.1 Demand for Enhanced Customer Service
Table 85 Market in Bfsi Vertical, by Region, 2017-2022 (USD Million)
Table 86 Market in Bfsi Vertical, by Region, 2023-2028 (USD Million)
Table 87 Market in Bfsi Vertical, by Application, 2017-2022 (USD Million)
Table 88 Market in Bfsi Vertical, by Application, 2023-2028 (USD Million)
11.2.2 Enhanced Customer Experience
11.2.3 Prediction of Future Outcomes & Trends
11.2.4 Robotic Automation of Processes
11.2.5 Credit Decisions
11.2.6 Fraud Detection & Prevention
11.2.7 Other Bfsi Applications
11.3 Retail & Ecommerce
11.3.1 AI Helps Understand Consumer Behavior, Allowing Marketers Influence Buyer Decisions
Table 89 AI as a Service Market in Retail & Ecommerce Vertical, by Region, 2017-2022 (USD Million)
Table 90 Market in Retail & Ecommerce Vertical, by Region, 2023-2028 (USD Million)
Table 91 Market in Retail & Ecommerce Vertical, by Application, 2017-2022 (USD Million)
Table 92 Market in Retail & Ecommerce Vertical, by Application, 2023-2028 (USD Million)
11.3.2 Product Recommendation & Planning
11.3.3 Customer Relationship Management
11.3.4 Visual Search
11.3.5 Virtual Assistant
11.3.6 Price Optimization
11.3.7 Payment Services Management
11.3.8 Supply Chain Management & Demand Planning
11.3.9 Virtual Stores
11.3.10 Other Retail & Ecommerce Applications
11.4 Healthcare & Life Sciences
11.4.1 Use of AI to Accelerate Growth of Medical Imaging & Diagnostics
Table 93 AI as a Service Market in Healthcare & Life Sciences Vertical, by Region, 2017-2022 (USD Million)
Table 94 Market in Healthcare & Life Sciences Vertical, by Region, 2023-2028 (USD Million)
Table 95 Market in Healthcare & Life Sciences Vertical, by Application, 2017-2022 (USD Million)
Table 96 Market in Healthcare & Life Sciences Vertical, by Application, 2023-2028 (USD Million)
11.4.2 Patient Data & Risk Analysis
11.4.3 Lifestyle Management & Monitoring
11.4.4 Precision Medicine
11.4.5 Inpatient Care & Hospital Management
11.4.6 Medical Imaging & Diagnostics
11.4.7 Drug Discovery
11.4.8 Virtual Assistant
11.4.9 Wearables
11.4.10 Medical Research
11.4.11 Other Healthcare Applications
11.5 It/Ites
11.5.1 Rise in Complexity and Fast Innovations to Manage It Operations Effectively
Table 97 AI as a Service Market in It/Ites Vertical, by Region, 2017-2022 (USD Million)
Table 98 Market in It/Ites Vertical, by Region, 2023-2028 (USD Million)
Table 99 Market in It/Ites Vertical, by Application, 2017-2022 (USD Million)
Table 100 Market in It/Ites Vertical, by Application, 2023-2028 (USD Million)
11.5.2 Predictive Maintenance
11.5.3 Virtual Assistants for Customer Support
11.5.4 Other It/Ites Applications
11.6 Telecommunication
11.6.1 Enhanced Contact Center Effectiveness, Reduced Operational Costs, and Improved Services of AI
Table 101 AI as a Service Market in Telecommunication Vertical, by Region, 2017-2022 (USD Million)
Table 102 Market in Telecommunication Vertical, by Region, 2023-2028 (USD Million)
Table 103 Market in Telecommunication Vertical, by Application, 2017-2022 (USD Million)
Table 104 Market in Telecommunication Vertical, by Application, 2023-2028 (USD Million)
11.6.2 Network Optimization
11.6.3 Network Anomalies
11.6.4 Other Telecommunication Applications
11.7 Government & Defense
11.7.1 Endeavor to Solve Complex Problems and Enhance Decision-Making Process
Table 105 Market in Government & Defense Vertical, by Region, 2017-2022 (USD Million)
Table 106 Market in Government & Defense Vertical, by Region, 2023-2028 (USD Million)
Table 107 Market in Government & Defense Vertical, by Application, 2017-2022 (USD Million)
Table 108 Market in Government & Defense Vertical, by Application, 2023-2028 (USD Million)
11.7.2 Customer Service Chatbots
11.7.3 Autonomous Drones
11.7.4 Surveillance
11.7.5 Predicting Crimes & Recommending Optimal Police Presence
11.7.6 Identifying Fraudulent Benefits Claims
11.7.7 Other Government & Defense Applications
11.8 Manufacturing
11.8.1 Need for Enhanced Performance and Reduced Redundancies in Manufacturing
Table 109 AI as a Service Market in Manufacturing Vertical, by Region, 2017-2022 (USD Million)
Table 110 Market in Manufacturing Vertical, by Region, 2023-2028 (USD Million)
Table 111 Market in Manufacturing Vertical, by Application, 2017-2022 (USD Million)
Table 112 Market in Manufacturing Vertical, by Application, 2023-2028 (USD Million)
11.8.2 Material Movements
11.8.3 Predictive Maintenance & Machinery Inspection
11.8.4 Production Planning
11.8.5 Field Services
11.8.6 Reclamation
11.8.7 Quality Control
11.8.8 Production Line Optimization
11.8.9 Other Manufacturing Applications
11.9 Energy & Utilities
11.9.1 Advanced AI Technologies Help Build Accountable, Transparent, Fair, and Secure Systems
Table 113 AI as a Service Market in Energy & Utilities Vertical, by Region, 2017-2022 (USD Million)
Table 114 Market in Energy & Utilities Vertical, by Region, 2023-2028 (USD Million)
Table 115 Market in Energy & Utilities Vertical, by Application, 2017-2022 (USD Million)
Table 116 Market in Energy & Utilities Vertical, by Application, 2023-2028 (USD Million)
11.9.2 Energy Efficiency Decision-Making
11.9.3 Fault Prediction
11.9.4 Artificial Intelligence in Power Grids - Smart Grids & Sector Coupling
11.9.5 Artificial Intelligence in Electricity Trading
11.9.6 Artificial Intelligence in Virtual Power Plant
11.9.7 Artificial Intelligence in Smart Water Meter
11.9.8 Other Energy & Utility Applications
11.10 Other Verticals
Table 117 Market in Other Verticals, by Region, 2017-2022 (USD Million)
Table 118 Market in Other Verticals, by Region, 2023-2028 (USD Million)

12 AI as a Service Market, by Region
12.1 Introduction
12.1.1 Market: Impact of Recession
Figure 33 India to Account for Highest CAGR During Forecast Period
Figure 34 Asia-Pacific to Account for Highest CAGR During Forecast Period
Table 119 Market, by Region, 2017-2022 (USD Million)
Table 120 Market, by Region, 2023-2028 (USD Million)
12.2 North America
12.2.1 North America: Market Drivers
12.2.2 North America: Impact of Recession
Figure 35 North America: AI as a Service Market Snapshot
Table 121 North America: Market, by Offering, 2017-2022 (USD Million)
Table 122 North America: Market, by Offering, 2023-2028 (USD Million)
Table 123 North America: Market, by Technology, 2017-2022 (USD Million)
Table 124 North America: Market, by Technology, 2023-2028 (USD Million)
Table 125 North America: Market, by Machine Learning, 2017-2022 (USD Million)
Table 126 North America: Market, by Machine Learning, 2023-2028 (USD Million)
Table 127 North America: Market, by Cloud Type, 2017-2022 (USD Million)
Table 128 North America: Market, by Cloud Type, 2023-2028 (USD Million)
Table 129 North America: Market, by Organization Size, 2017-2022 (USD Million)
Table 130 North America: Market, by Organization Size, 2023-2028 (USD Million)
Table 131 North America: Market, by Vertical, 2017-2022 (USD Million)
Table 132 North America: Market, by Vertical, 2023-2028 (USD Million)
12.2.3 US
12.2.3.1 Increase in Demand for AI-Powered Solutions Across Industries in US
Table 133 Us: Market Investment Initiatives
12.2.4 Canada
12.2.4.1 Robust AI Ecosystem in Canada
Table 134 Canada: Market Investment Initiatives
12.3 Europe
12.3.1 Europe: Market Drivers
12.3.2 Europe: Impact of Recession
Table 135 Europe: AI as a Service Market, by Offering, 2017-2022 (USD Million)
Table 136 Europe: Market, by Offering, 2023-2028 (USD Million)
Table 137 Europe: Market, by Technology, 2017-2022 (USD Million)
Table 138 Europe: Market, by Technology, 2023-2028 (USD Million)
Table 139 Europe: Market, by Machine Learning, 2017-2022 (USD Million)
Table 140 Europe: Market, by Machine Learning, 2023-2028 (USD Million)
Table 141 Europe: Market, by Cloud Type, 2017-2022 (USD Million)
Table 142 Europe: Market, by Cloud Type, 2023-2028 (USD Million)
Table 143 Europe: Market, by Organization Size, 2017-2022 (USD Million)
Table 144 Europe: Market, by Organization Size, 2023-2028 (USD Million)
Table 145 Europe: Market, by Vertical, 2017-2022 (USD Million)
Table 146 Europe: Market, by Vertical, 2023-2028 (USD Million)
12.3.3 UK
12.3.3.1 Strong Focus on Research & Development, Innovative Startups, and Established Tech Companies in UK
Table 147 Uk: Market Investment Initiatives
12.3.4 Germany
12.3.4.1 Technological Initiatives Pertaining to Aiaas by Various Companies in Germany
Table 148 Germany: Market Investment Initiatives
12.3.5 France
12.3.5.1 Growing Startup Ecosystem in France
Table 149 France: Market Investment Initiatives
12.3.6 Rest of Europe
12.4 Asia-Pacific
12.4.1 Asia-Pacific: Market Drivers
12.4.2 Asia-Pacific: Impact of Recession
Figure 36 Asia-Pacific: AI as a Service Market Snapshot
Table 150 Asia-Pacific: Market, by Offering, 2017-2022 (USD Million)
Table 151 Asia-Pacific: Market, by Offering, 2023-2028 (USD Million)
Table 152 Asia-Pacific: Market, by Technology, 2017-2022 (USD Million)
Table 153 Asia-Pacific: Market, by Technology, 2023-2028 (USD Million)
Table 154 Asia-Pacific: Market, by Machine Learning, 2017-2022 (USD Million)
Table 155 Asia-Pacific: Market, by Machine Learning, 2023-2028 (USD Million)
Table 156 Asia-Pacific: Market, by Cloud Type, 2017-2022 (USD Million)
Table 157 Asia-Pacific: Market, by Cloud Type, 2023-2028 (USD Million)
Table 158 Asia-Pacific: Market, by Organization Size, 2017-2022 (USD Million)
Table 159 Asia-Pacific: Market, by Organization Size, 2023-2028 (USD Million)
Table 160 Asia-Pacific: Market, by Vertical, 2017-2022 (USD Million)
Table 161 Asia-Pacific: Market, by Vertical, 2023-2028 (USD Million)
Table 162 Asia-Pacific: Market, by Country/Region, 2017-2022 (USD Million)
Table 163 Asia-Pacific: Market, by Country/Region, 2023-2028 (USD Million)
12.4.3 China
12.4.3.1 AI Development in China Focused on Solving Real-World Problems and Driving Economic Growth
Table 164 China: Market Investment Initiatives
12.4.4 Japan
12.4.4.1 AI as a Service Takes Root in Japan as Government and Industry Collaborate for Future Growth
12.4.5 South Korea
12.4.5.1 Advanced It Infrastructure, Skilled Workforce, and Government Support in South Korea
12.4.6 Asean
12.4.6.1 AI Technology to Accelerate Advancements of Sustainable Development Goals in Asean Countries
12.4.7 India
12.4.7.1 Increase in Adoption of AI-Powered Solutions by Indian Companies to Drive Digital Transformation
12.4.8 Australia & New Zealand
12.4.8.1 Artificial Intelligence Crucial for Digital Transformation of Australia & New Zealand
12.4.9 Rest of Asia-Pacific
12.5 Middle East & Africa
12.5.1 Middle East & Africa: Market Drivers
12.5.2 Middle East & Africa: Impact of Recession
Table 165 Middle East & Africa: AI as a Service Market, by Offering, 2017-2022 (USD Million)
Table 166 Middle East & Africa: Market, by Offering, 2023-2028 (USD Million)
Table 167 Middle East & Africa: Market, by Technology, 2017-2022 (USD Million)
Table 168 Middle East & Africa: Market, by Technology, 2023-2028 (USD Million)
Table 169 Middle East & Africa: Market, by Machine Learning, 2017-2022 (USD Million)
Table 170 Middle East & Africa: Market, by Machine Learning, 2023-2028 (USD Million)
Table 171 Middle East & Africa: Market, by Cloud Type, 2017-2022 (USD Million)
Table 172 Middle East & Africa: Market, by Cloud Type, 2023-2028 (USD Million)
Table 173 Middle East & Africa: Market, by Organization Size, 2017-2022 (USD Million)
Table 174 Middle East & Africa: Market, by Organization Size, 2023-2028 (USD Million)
Table 175 Middle East & Africa: Market, by Vertical, 2017-2022 (USD Million)
Table 176 Middle East & Africa: Market, by Vertical, 2023-2028 (USD Million)
Table 177 Middle East & Africa: Market, by Country, 2017-2022 (USD Million)
Table 178 Middle East & Africa: Market, by Country, 2023-2028 (USD Million)
12.5.3 Kingdom of Saudi Arabia
12.5.3.1 Rise in Digitization and Various Cloud-Based Strategies in Ksa
12.5.4 United Arab Emirates
12.5.4.1 Uae Government Support and Diverse Range of AI-Focused Companies and Startups
12.5.5 Israel
12.5.5.1 Expansion of Startups in Field of AI in Israel
12.5.6 Turkey
12.5.6.1 AI-Enabled Services, Availability of Cloud Computing, and Rise of IoT in Turkey
12.5.7 South Africa
12.5.7.1 Legal System Being Shaped by AI and Ml in South Africa
12.5.8 Rest of the Middle East & Africa
12.6 Latin America
12.6.1 Latin America: Market Drivers
12.6.2 Latin America: Impact of Recession
Table 179 Latin America: AI as a Service Market, by Offering, 2017-2022 (USD Million)
Table 180 Latin America: Market, by Offering, 2023-2028 (USD Million)
Table 181 Latin America: Market, by Technology, 2017-2022 (USD Million)
Table 182 Latin America: Market, by Technology, 2023-2028 (USD Million)
Table 183 Latin America: Market, by Machine Learning, 2017-2022 (USD Million)
Table 184 Latin America: Market, by Machine Learning, 2023-2028 (USD Million)
Table 185 Latin America: Market, by Cloud Type, 2017-2022 (USD Million)
Table 186 Latin America: Market, by Cloud Type, 2023-2028(USD Million)
Table 187 Latin America: Market, by Organization Size, 2017-2022 (USD Million)
Table 188 Latin America: Market, by Organization Size, 2023-2028 (USD Million)
Table 189 Latin America: Market, by Vertical, 2017-2022 (USD Million)
Table 190 Latin America: Market, by Vertical, 2023-2028(USD Million)
Table 191 Latin America: Market, by Country, 2017-2022 (USD Million)
Table 192 Latin America: Market, by Country, 2023-2028 (USD Million)
12.6.3 Brazil
12.6.3.1 Initiatives by Brazil to Promote Development of AI Skills and Capabilities
12.6.4 Mexico
12.6.4.1 Government Initiatives in Mexico Aimed at AI Solutions
12.6.5 Rest of Latin America

13 Competitive Landscape
13.1 Overview
13.2 Key Player Strategies
Table 193 Overview of Strategies Deployed by Key Players in Market
13.3 Revenue Analysis
Figure 37 Revenue Analysis for Key Companies, 2018-2022
13.4 Market Share Analysis
Figure 38 Market Share Analysis for Key Players, 2023
Table 194 AI as a Service Market: Degree of Competition
13.5 Key Company Evaluation Quadrant
13.5.1 Stars
13.5.2 Emerging Leaders
13.5.3 Pervasive Players
13.5.4 Participants
Figure 39 Key Market Players, Company Evaluation Matrix, 2023
13.6 Startup/Sme Evaluation Quadrant
13.6.1 Progressive Companies
13.6.2 Responsive Companies
13.6.3 Dynamic Companies
13.6.4 Starting Blocks
Figure 40 Startup/Sme AI as a Service Players, Company Evaluation Matrix, 2022
13.7 Competitive Benchmarking
Table 195 AI as a Service Market: Competitive Benchmarking of Key Players, 2022
Table 196 Market: Detailed List of Key Startups/Smes
Table 197 Artificial Intelligence Market: Competitive Benchmarking of Startups/Smes
13.8 AI as a Service Product Landscape
13.8.1 Comparative Analysis of AI as a Service Products
Table 198 Comparative Analysis of AI as a Service Products
13.9 Competitive Scenario
13.9.1 Product Launches
Table 199 Market: Product Launches, September 2020-March 2023
13.9.2 Deals
Table 200 AI as a Service Market: Deals, February 2020-January 2023

14 Company Profiles
(Business Overview, Products/Solutions/Services Offered, Recent Developments & Analyst's View)*
14.1 Key Players
14.1.1 Ibm
Table 201 Ibm: Business Overview
Figure 41 Ibm: Financial Overview
Table 202 Ibm: Products/Solutions/Services Offered
Table 203 Ibm: Product Launches
Table 204 Ibm: Deals
14.1.2 Google
Table 205 Google: Business Overview
Figure 42 Google: Financial Overview
Table 206 Google: Products/Solutions/Services Offered
Table 207 Google: Product Launches
Table 208 Google: Deals
14.1.3 Aws
Table 209 Aws: Business Overview
Figure 43 Aws: Financial Overview
Table 210 Aws: Products/Solutions/Services Offered
Table 211 Aws: Product Launches
Table 212 Aws: Deals
14.1.4 Microsoft
Table 213 Microsoft: Business Overview
Figure 44 Microsoft: Financial Overview
Table 214 Microsoft: Products/Solutions/Services Offered
Table 215 Microsoft: Product Launches
Table 216 Microsoft: Deals
14.1.5 Salesforce
Table 217 Salesforce: Business Overview
Figure 45 Salesforce: Financial Overview
Table 218 Salesforce: Products/Solutions/Services Offered
Table 219 Salesforce: Product Launches
Table 220 Salesforce: Deals
14.1.6 Fico
Table 221 Fico: Business Overview
Figure 46 Fico: Financial Overview
Table 222 Fico: Products/Solutions/Services Offered
Table 223 Fico: Product Launches
Table 224 Fico: Deals
14.1.7 Sas Institute
Table 225 Sas Institute: Business Overview
Figure 47 Sas Institute: Financial Overview
Table 226 Sas Institute: Products/Solutions/Services Offered
Table 227 Sas Institute: Product Launches
Table 228 Sas Institute: Deals
14.1.8 Baidu
Table 229 Baidu: Business Overview
Figure 48 Baidu: Financial Overview
Table 230 Baidu: Products/Solutions/Services Offered
Table 231 Baidu: Product Launches
Table 232 Baidu: Deals
14.1.9 Sap
Table 233 Sap: Business Overview
Figure 49 Sap: Financial Overview
Table 234 Sap: Products/Solutions/Services Offered
Table 235 Sap: Product Launches
Table 236 Sap: Deals
14.1.10 Amd Xilinx
Table 237 Amd Xilinx: Business Overview
Figure 50 Amd Xilinx: Financial Overview
Table 238 Amd Xilinx: Products/Solutions/Services Offered
Table 239 Amd Xilinx: Product Launches
Table 240 Amd Xilinx: Deals
14.1.11 Iris.AI
Table 241 Iris.AI: Business Overview
Table 242 Iris.AI: Products/Solutions/Services Offered
Table 243 Iris.AI: Product Launches
Table 244 Iris.AI: Deals
14.1.12 Bigml
Table 245 Bigml: Business Overview
Table 246 Bigml: Products/Solutions/Services Offered
Table 247 Bigml: Product Launches
Table 248 Bigml: Deals
14.1.13 H20.AI
Table 249 H2O.AI: Business Overview
Table 250 H2O.AI: Products/Solutions/Services Offered
Table 251 H2O.AI: Product Launches
Table 252 H2O.AI: Deals
14.1.14 Absolutdata
Table 253 Absolutdata: Business Overview
Table 254 Absolutdata: Products/Solutions/Services Offered
Table 255 Absolutdata: Product Launches
Table 256 Absolutdata: Deals
14.1.15 Vital.AI
Table 257 Vital.AI: Business Overview
Table 258 Vital.AI: Products/Solutions/Services Offered
14.1.16 Oracle
Table 259 Oracle: Business Overview
Figure 51 Oracle: Financial Overview
Table 260 Oracle: Products/Solutions/Services Offered
Table 261 Oracle: Product Launches
Table 262 Oracle: Deals
14.1.17 Alibaba Cloud
Table 263 Alibaba Cloud: Business Overview
Table 264 Alibaba Cloud: Products/Solutions/Services Offered
Table 265 Alibaba Cloud: Product Launches
Table 266 Alibaba Cloud: Deals
14.1.18 Tencent
Table 267 Tencent: Business Overview
Figure 52 Tencent: Financial Overview
Table 268 Tencent: Products/Solutions/Services Offered
Table 269 Tencent: Product Launches
Table 270 Tencent: Deals
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments & Analyst's View Might Not be Captured in Case of Unlisted Companies.
14.2 Other Key Players
14.2.1 Fuzzy.AI
14.2.2 Rainbird Technologies
14.2.3 Craft.AI
14.2.4 Siftscience
14.2.5 Databricks
14.2.6 Tecnotree
14.2.7 Century Soft
14.2.8 Yottamine Analytics
14.2.9 Datarobot
14.2.10 Meya.AI
14.2.11 Dataiku
14.2.12 Cloudera

15 Adjacent and Related Markets
15.1 Introduction
15.2 Artificial Intelligence Market - Global Forecast to 2027
15.2.1 Market Definition
15.2.2 Market Overview
15.2.3 Artificial Intelligence Market, by Offering
Table 271 Artificial Intelligence Market, by Offering, 2016-2021 (USD Billion)
Table 272 Artificial Intelligence Market, by Offering, 2022-2027 (USD Billion)
15.2.4 Artificial Intelligence Market, by Technology
Table 273 Artificial Intelligence Market, by Technology, 2016-2021 (USD Billion)
Table 274 Artificial Intelligence Market, by Technology, 2022-2027 (USD Billion)
15.2.5 Artificial Intelligence Market, by Deployment Mode
Table 275 Artificial Intelligence Market, by Deployment Mode, 2016-2021 (USD Billion)
Table 276 Artificial Intelligence Market, by Deployment Mode, 2022-2027 (USD Billion)
15.2.6 Artificial Intelligence Market, by Organization Size
Table 277 Artificial Intelligence Market, by Organization, 2016-2021 (USD Billion)
Table 278 Artificial Intelligence Market, by Organization, 2022-2027 (USD Billion)
15.2.7 Artificial Intelligence Market, by Business Function
Table 279 Artificial Intelligence Market, by Business Function, 2016-2021 (USD Billion)
Table 280 Artificial Intelligence Market, by Business Function, 2022-2027 (USD Billion)
15.2.8 Artificial Intelligence Market, by Vertical
Table 281 Artificial Intelligence Market, by Vertical, 2016-2021 (USD Billion)
Table 282 Artificial Intelligence Market, by Vertical, 2022-2027 (USD Billion)
15.2.9 Artificial Intelligence Market, by Region
Table 283 Artificial Intelligence Market, by Region, 2016-2021 (USD Billion)
Table 284 Artificial Intelligence Market, by Region, 2022-2027 (USD Billion)
15.3 Platform as a Service Market - Global Forecast to 2026
15.3.1 Market Definition
15.3.2 Market Overview
15.3.3 Platform as a Service Market, by Type
Table 285 Platform as a Service Market, by Type, 2016-2019 (USD Million)
Table 286 Platform as a Service Market, by Type, 2020-2026 (USD Million)
15.3.4 Platform as a Service Market, by Deployment Mode
Table 287 Platform as a Service Market Size, by Deployment, 2016-2019 (USD Million)
Table 288 Platform as a Service Market Size, by Deployment, 2020-2026 (USD Million)
15.3.5 Platform as a Service Market, by Organization Size
Table 289 Platform as a Service Market, by Organization Size, 2016-2019 (USD Million)
Table 290 Platform as a Service Market Size, by Organization Size, 2020-2026 (USD Million)
15.3.6 Platform as a Service Market, by Vertical
Table 291 Platform as a Service Market, by Vertical, 2016-2019 (USD Million)
Table 292 Platform as a Service Market, by Vertical, 2020-2026 (USD Million)
15.3.7 Platform as a Service Market, by Region
Table 293 Platform as a Service Market, by Region, 2016-2019 (USD Million)
Table 294 Platform as a Service Market, by Region, 2020-2026 (USD Million)

16 Appendix
16.1 Discussion Guide
16.2 Knowledgestore: The Subscription Portal
16.3 Customization Options
16.4 Related Reports
16.5 Author Details

Executive Summary

Companies Mentioned

  • Absolutdata
  • Alibaba Cloud
  • Amd Xilinx
  • Aws
  • Baidu
  • Bigml
  • Century Soft
  • Cloudera
  • Craft.AI
  • Databricks
  • Dataiku
  • Datarobot
  • Fico
  • Fuzzy.AI
  • Google
  • H20.AI
  • IBM
  • Iris.AI
  • Meya.AI
  • Microsoft
  • Oracle
  • Rainbird Technologies
  • Salesforce
  • Sap
  • Sas Institute
  • Siftscience
  • Tecnotree
  • Tencent
  • Vital.AI
  • Yottamine Analytics

Methodology

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