The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Rising artificial intelligence spending is likely to fuel innovation in AI as a service manufacturing, propelling the market during the forecast period.

The global AI as a service market is expected to grow from $6.84 billion in 2022 to $9.86 billion in 2023 at a compound annual growth rate (CAGR) of 44.28%. The global AI as a service market size is expected to reach $43.28 billion in 2027 at a CAGR of 44.73%.

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Global AI As A Service Market Segments Include:

• By Component: Solutions, Services
• By Offering: Infrastructure As A Service, Platform As A Service, Software As A Service
• By Deployment: Public, Private, Hybrid
• By Organization Size: Small And Medium-Sized Enterprises, Large Enterprises
• By Industry: Banking, Finance Services, And Insurance (BFSI), Information Technology (IT) And Telecom, Retail, Manufacturing, Public Sector, Energy And Utilities, Healthcare, Other Industries
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global AI as a service market in 2021.

Major Market Players in the AI as a service market include Amazon Web Services Inc., Salesforce Inc., International Business Machines Corporation, Microsoft Corporation, Google Inc., SAP SE, Intel Corporation, BigML Inc., Fair Isaac Corporation.

Technological developments are a crucial trend that is gaining traction in the AI as a service market. Companies in the AI as a service sector are embracing new technologies in order to maintain their market position. For example, Nvidia Corporation, a US-based software business, released a new cloud supercomputing service technology called “DGX Cloud” in March 2023 to provide GPU supercomputers-as-a-Service. It provides enterprises with access to cutting-edge hardware and software for generating cutting-edge models for generative AI and other applications.

The AI As A Service Global Market Report 2023  provides a AI as a service market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The AI as a service market forecast analyzes AI as a service market size, AI as a service market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Artificial intelligence as a service (AIaaS) refers to commercially available AI solutions that enable businesses to extend and apply AI technologies for a fraction of the cost of developing a comprehensive in-house AI. It enables individuals and enterprises to experiment with AI for a variety of purposes with a lower initial investment and lower risk.

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