Artificial Intelligence (AI) as a Service Market To Reach USD 33.07 Billion By 2026
Market Summary
The rise in demand for Intelligent Business Applications, increased requirement for Integrators of AI Service, rise in investment of cloud technology and AI resulted in boosting Artificial Intelligence (AI) as a service market. Market Size – USD 1.62 Billion in 2018, Market Growth - CAGR of 45.6%, Market Trends –The rise in the demand for Intelligent Business Applications The Global Artificial Intelligence (AI) as a service market is forecast to reach USD 33.07 Billion by 2026, according to a new report by Reports and Data. Artificial Intelligence (AI) as a service market is considered to be a highly lucrative market in the upcoming years. During the forecast period, the market is observed to experience considerable growth. The major factors promoting the growth of the market is the drastic rise in the adoption of cloud-based solutions and the hiked demand for AI market. The increased adoption of cloud-based solutions makes the incorporation of Artificial Intelligence (AI) services easy and effective. The cloud technology provides with required information and support for AI learning process, which positively impacts the growth of the market. In various end-user industries, there has been an elevated demand for cognitive computing, which also acts as a driving factor for the expansion of the market.
Market Summary Our Approach In addition to the factor mentioned above, one of the mentionable traits of AI is the ability and support it provides to machines to react, act, learn, and think like human beings. As a result of the mentioned characteristics, it turns out to be an effective decision making and data analytics tool that helps in deciding based on past data and identified patterns. It is the mentioned traits of AI, which has resulted in it's increase in different industries that have a positive impact on the growth of the market. The industry is witnessing continuous evolutions, which are also enriching the market. In 2018, Google, a key player of the industry, introduced Google Duplex that is capable of performing realistic tasks and conduct natural conversations over the phone, like making a call and having human-like conversations. Such advancements by key players are also boosting the growth of the market.
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Market Summary Our Approach Key participants include IBM, Microsoft, Amazon, Google, FICO, SAS Institute, IRIS AI, Salesforce, Mighty.AI, and Craft.AI. For the purpose of this report, Reports and Data have segmented the global Computer Vision System market according to Service type, Technologies, Organizational size, Deployment mode, End-user, End-user ownership, Application, and Region: Service type Outlook (Revenue, USD Billion; 2020-2026) • Services • Software Tools Technologies type Outlook (Revenue, USD Billion; 2020-2026) • Machine Learning and Deep Learning • Natural Language Processing • Computer Vision • Others Organizational size type Outlook (Revenue, USD Billion; 2020-2026) • Large Enterprises • Small and Medium-Sized Enterprises Deployment mode type Outlook (Revenue, USD Billion; 2020-2026) • On-premises • Cloud
Market Summary Our Approach End-user ownership type Outlook (Revenue, USD Billion; 2020-2026) • Public • Private Application Type Outlook (Revenue, USD Billion; 2020-2026) • Fraud Detection • Data Analytics & Visualization • Customer Service and management • Risk Management • Compliance & Security • Others Regional Outlook (Revenue, USD Billion; 2020-2026) • North America • Europe • Asia Pacific • MEA Order Now: https://www.reportsanddata.com/checkout-form/1574
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