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Artificial Intelligence as a Service (AIaaS) Market Research

The rising usage of cloud services by end-user industries is the main factor driving the market for artificial intelligence as a service.

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Artificial intelligence as a service (AIaaS) involves outsourcing of artificial intelligence (AI). Most of the manufacturers and industry professionals partner with firms that can provide a full suite of services to support a large-scale AI solution. Public cloud providers reveal APIs and services that can be used up without creating conventional machine learning models.

These services take benefit of the underlying infrastructure owned by cloud vendors. The market for artificial intelligence as a service is primarily driven by the increased adoption of cloud services in end-user industries. However, lack of skilled workforce is expected to hinder the market growth.

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Key Trends in Artificial Intelligence as a Service Market:

Increasing adoption of cloud-based AI solutions: Cloud-based AIaaS solutions are becoming increasingly popular among businesses due to their scalability, flexibility, and cost-effectiveness. Cloud-based AI solutions also offer faster deployment and easier integration with existing IT systems.

Growth in natural language processing (NLP): NLP is a branch of AI that focuses on the interaction between humans and computers using natural language. NLP is being used in a wide range of applications such as chatbots, virtual assistants, and voice-activated assistants, and is expected to grow significantly in the coming years.

Advancements in computer vision: Computer vision is another key area of AI that is experiencing rapid advancements. Computer vision is being used in a variety of applications such as image recognition, object detection, and facial recognition. The technology is expected to become more sophisticated and capable in the coming years, making it a key area of investment for AIaaS providers.

Increasing use of AI in healthcare: Healthcare is one of the fastest-growing sectors for AI adoption. AI is being used to improve diagnosis, treatment, and patient outcomes. AIaaS providers are developing solutions that can analyze medical images, predict patient outcomes, and improve the accuracy of medical diagnoses.

Integration of AI with other emerging technologies: AI is being integrated with other emerging technologies such as blockchain, IoT, and edge computing to create new applications and use cases. AIaaS providers are developing solutions that can be easily integrated with these technologies, enabling businesses to leverage the benefits of AI in new and innovative ways.

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Key Findings of the Artificial Intelligence as a Service Market:

In 2017, the IT & telecom segment dominated the global artificial intelligence as a service market, in terms of revenue, and is projected to grow at a CAGR of 57.4% during the forecast period. The machine learning segment is projected to grow at a CAGR of 55.9% during the forecast period. North America is projected to be one of the fastest growing region in the artificial intelligence as a service market and is expected to witness high growth rate.

The major players, such as Amazon, Microsoft Corporation, Alphabet Inc. (Google Inc.), IBM Corporation, Apple Inc., Intel, Inc., SAP SE, Salesforce, Inc., Fair Isaac Corporation, and CognitiveScale, Inc., focus on developing new products. These companies have expanded their business by collaborating with other small vendors.

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David CorreaAllied Analytics LLP+1-800-792-5285email us here

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Artificial Intelligence as a Service Market Research Report | Industry Size USD 77.048 Billion by 2025 - EIN News