PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1290519
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1290519
Global Cloud AI Market is valued at approximately USD xx billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Cloud AI refers to the use of cloud computing resources, such as processing power, storage, and algorithms, to train and deploy artificial intelligence (AI) models. It allows individuals and organizations to access AI capabilities without needing to invest in expensive hardware or maintain complex software infrastructures. The Cloud AI Market is expanding because of factors such as rising big data volume and increasing demand for virtual assistants.
The increased demand for cloud-based intelligence services and the trend towards multi-cloud operation both contribute to this increase. According to IBM, in the year 2021 multi-cloud architectures are being used by 98% of the organizations. Just 41% of businesses have a multi-cloud management strategy, and 38% have the processes and tools necessary to manage a multi-cloud environment. This has the potential to enormously expand the market for cloud AI services. Moreover, according to a recent IDC report, nearly 80% of corporate banks in India are expected to operate their trade finance and treasury workloads on Cloud based technology by 2024. Thus, the rising adoption of the cloud is driving market growth. In addition, the growing Adoption of Cloud-based Services and rising adoption of digital services applications is creating lucrative growth in the market. However, the high cost of Cloud AI and lack of Skilled Workforce and Data Security Concerns stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cloud AI Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the dominance of key market players and rising technological advancements in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising demand from end-use industry, rising adoption of cloud services and rising initiatives to adopt new technologies in the region.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable