What Are The 5 Takeaways From The Cloud AI Market Overview 2024

October 1, 2024 by The Business Research Company

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The cloud AI market, valued at $59.49 billion in 2023, will reach $82.02 billion in 2024, with a CAGR of 37.9%. Growing computational power and big data trends contribute to this growth. Forecasts estimate growth to $301.2 billion by 2028, driven by hybrid cloud adoption and AI-powered applications, with trends like IoT integration and strategic collaborations.

The cloud AI market is witnessing growth driven by the increasing demand for virtual assistants. With a significant rise in voice assistant usage, cloud AI technologies play a crucial role in enhancing virtual assistant capabilities.

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What Are The Key Trends That Influence Cloud AI Market Share Analysis?

Innovative AI cloud services are driving growth in the cloud AI market. Leading companies are focused on developing cutting-edge AI cloud services to reinforce their market positions. For example, in March 2023, NVIDIA Corporation, a US-based software company, launched DGX Cloud, a new AI supercomputing cloud service. DGX Cloud allows businesses to run AI workloads efficiently at scale, leveraging NVIDIA’s powerful GPUs. This cloud service provides businesses of all sizes with access to AI supercomputing capabilities through a simple online browser, eliminating the need for on-premises hardware deployment. DGX Cloud also ensures scalability, reliability, security, and cost-effectiveness, making it a versatile choice for AI-driven businesses.

Which Market Players Are Driving Growth In The Cloud AI Market?

Major companies operating in the cloud ai market report are Amazon Web Services Inc., MicroStrategy Incorporated, Apple Inc., Microsoft Corporation, Google LLC, Huawei Cloud, Intel Corporation, Accenture PLC, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Salesforce Inc., SoundHound Inc., Tata Consultancy Services, Nvidia Corporation, Capgemini SE, Baidu Inc., Cognizant Technology Solutions Corporation, Infosys Limited, ZTE Corp., DXC Technology, Atos SE, HCL Technologies, Wipro Ltd., Twilio Inc., Nuance Communications Inc., Verint Systems Inc., DataRobot Inc., H2O.ai.

How Is The Global Cloud AI Market Segmented?

The cloud ai market covered in this report is segmented –

1) By Type: Solution, Service
2) By Technology: Deep Learning, Machine Learning, Natural Language Processing, Other Technologies
3) By End-User Vertical: Banking Financial Services And Insurance (BFSI), Healthcare, Automotive, Retail, Government, Education, Other End-User Verticals

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The Cloud AI Global Market Report 2024 provides an overview of the cloud aimarket for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The cloud ai market forecast analyzes cloud ai market size, cloud ai market share, leading competitor and their market positions.

The Table Of Content For The Cloud AI Market Include

1. Cloud AI Market Executive Summary
2. Cloud AI Market Segments
3. Cloud AI Market Size And Template Market Growth Rate
4. Key Cloud AI Market Trends
5. Major Cloud AI Market Drivers
……
25. Key Mergers And Acquisitions In The Cloud AI Market
26. Top Cloud AI Companies
27. Cloud AI Market Opportunities And Strategies
28. Cloud AI Market, Conclusions And Recommendations
29. Appendix

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Industry: Information Technology