Artificial Intelligence-as-a-Service Market- Business Strategy for Recovery from the Impact of COVID-19 |Technavio
The artificial intelligence-as-a-service market is expected to register a CAGR of over 48% during 2020-2024, as per the latest research report by Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Technavio has announced its latest market research report titled Global Artificial Intelligence-as-a-Service (AIaaS) Market 2020-2024 (Graphic: Business Wire)
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Due to the extensive spread of the virus across the globe, the Information Technology industry is anticipated to have a Mixed impact. The artificial intelligence-as-a-service market will showcase Positive impact during 2020-2024.
Artificial intelligence-as-a-service market 2020-2024: Segmentation
Artificial intelligence-as-a-service market is segmented as below:
North America was the largest artificial intelligence-as-a-service market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The high adoption of cloud, AI, ML, and big data analysis to draw business insights, the growing popularity of cloud computing services, and the high integration of AI with big data and IoT for real-time predictions will significantly influence artificial intelligence-as-a-service market growth in this region.
The Information Technology market is anticipated to have Direct impact and the artificial intelligence-as-a-service market demand will show At Par growth. View market snapshot before purchasing
Increasing adoption of AI in predictive analysis has been an instrumental factor in influencing the growth of artificial intelligence-as-a-service market. Other market drivers include increasing investment in R&D and cloud-based solutions. Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
Key Considerations for Market Forecast:
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Artificial intelligence-as-a-service market 2020-2024: Vendor Analysis
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. Major market participants include Alphabet Inc., Amazon.com Inc., Apple Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, and SAS (News - Alert) Institute Inc.
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Table of Contents:
Five Forces Analysis
Market Segmentation by End-user
Drivers, Challenges, and Trends
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