COVID-19 Impacts: Artificial Intelligence-as-a-Service (AIaaS) Market Will Accelerate at a CAGR of Over 48% Through 2020-2024|Growing Adoption of Cloud-Based Solutions to Boost Growth| Technavio
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.
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.
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:
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.
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.
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.
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