LONDON--(BUSINESS WIRE)--Technavio has been monitoring the artificial intelligence-as-a-service (AIaaS) market and it is poised to grow by USD 15.14 billion during 2020-2024, progressing at a CAGR of over 48% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Frequently Asked Questions-
- What was the value of the artificial intelligence-as-a-service (AIaaS) market in 2019?
- Technavio says that the value of the market was USD 2.46 billion in 2019 and it is projected to reach USD 17.60 billion by 2024.
- At what rate is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of over 48%, the market growth will accelerate in the forecast period.
- What is the key factor driving the market?
- Growing adoption of cloud-based solutions is one of the key factors driving the market growth.
- Who are the top players in the market?
- Alphabet Inc., Amazon.com Inc., Apple Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, and SAS Institute Inc. are some of the major market participants.
- Which region is expected to hold the highest market share?
- North America
- What is the year-over-year growth rate of the global market?
- The year-over-year growth rate for 2020 is estimated at 42.68%.
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Alphabet Inc., Amazon.com Inc., Apple Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, and SAS Institute Inc. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The growing adoption of cloud-based solutions has been instrumental in driving the growth of the market.
Artificial Intelligence-as-a-Service (AIaaS) Market 2020-2024: Segmentation
Artificial Intelligence-as-a-Service (AIaaS) Market is segmented as below:
-
End-user
- Retail and Healthcare
- BFSI
- Telecommunications
- Government and Defense
- Others
-
Geographic Landscape
- North America
- APAC
- Europe
- South America
- MEA
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Artificial Intelligence-as-a-Service (AIaaS) Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our artificial intelligence-as-a-service (AIaaS) market report covers the following areas:
- Artificial Intelligence-as-a-Service (AIaaS) Market size
- Artificial Intelligence-as-a-Service (AIaaS) Market trends
- Artificial Intelligence-as-a-Service (AIaaS) Market analysis
This study identifies the increasing adoption of AI in predictive analysis as one of the prime reasons driving the artificial intelligence-as-a-service (AIaaS) market growth during the next few years.
Artificial Intelligence-as-a-Service (AIaaS) Market 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the artificial intelligence-as-a-service (AIaaS) market, including some of the vendors such as Alphabet Inc., Amazon.com Inc., Apple Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, and SAS Institute Inc. Backed with competitive intelligence and benchmarking, our research reports on the artificial intelligence-as-a-service (AIaaS) market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Artificial Intelligence-as-a-Service (AIaaS) Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist artificial intelligence-as-a-service (AIaaS) market growth during the next five years
- Estimation of the artificial intelligence-as-a-service (AIaaS) market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the artificial intelligence-as-a-service (AIaaS) market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of artificial intelligence-as-a-service (AIaaS) market vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user placement
- Retail and healthcare - Market size and forecast 2019-2024
- BFSI - Market size and forecast 2019-2024
- Telecommunications - Market size and forecast 2019-2024
- Government and defense - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
Customer Landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Alphabet Inc.
- Amazon.com Inc.
- Apple Inc.
- Intel Corp.
- International Business Machines Corp.
- Microsoft Corp.
- Oracle Corp.
- Salesforce.com Inc.
- SAP SE
- SAS Institute Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
