The rising number of innovative start-up operations working within the domain of AI powered tools and services is one of the key factors driving the growth within the global artificial intelligence as a service market. The solutions offered by the players and vendors functioning within the global artificial intelligence as a service market are utilized in a number of end use industry verticals, such as healthcare and life sciences, telecommunications, manufacturing, education, transportation, media and entertainment, banking, financial services, and insurance or BFSI, retail, government and defence, energy, and agriculture, among others. Some of the key technologies used by the players in the global artificial intelligence as a service market include deep learning, natural language processing or NLP, and machine learning or ML.
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The rising demand from the BFSI industry vertical is positively influencing the growth in the global artificial intelligence as a service market. On the other hand, healthcare and life sciences end use industry vertical is also expected to contribute heavily in the development of the global artificial intelligence as a service market in coming years. The rising need for acquiring real time data, rising requirement of accelerating product time to market across various industries, need for reducing the costs associated with infrastructure, and need to improve process times across industries are some of the other major driving factors propelling the demand within the global artificial intelligence as a service market.
Global Artificial Intelligence as a Service Market: Major Trends and Drivers
The global artificial intelligence as a service market is expected to witness substantial growth in the coming years owing to the rising need to decrease the costs associated with infrastructure as well as the increasing demand for analysing the massive volumes of data in order to formulate and carry out various business development strategies. Furthermore, the rising demand for AI powered services in the form of API or application programming interface as well as SDK or software development kit may drive the growth within the global artificial intelligence as a service market in coming years.
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Global Artificial Intelligence as a Service Market: Key Players and Manufacturers
The landscape of the global artificial intelligence as a service market is considered to be fragmented, with a number of local as well as international players operational within the industry worldwide. Players in the global artificial intelligence as a service market are focusing on cross platform integration, novel product launches, and continuous technological advancements in a bid to attract more and more consumers. Furthermore, several players in the global artificial intelligence as a service market are also focusing on diversification of their product offerings in order to attract a larger consumer base across the world. Some of the leading and most prominent players and service providers functional within the global artificial intelligence as a service market include SAP SE, Amazon Web Services, Inc., Intel Corporation, Fair Isaac Corporation, BigML, International Business Machines Corporation, Google, Salesforce, Baidu, Inc., and SAS Institute, among others.
