PUBLISHER: KBV Research | PRODUCT CODE: 1292545
PUBLISHER: KBV Research | PRODUCT CODE: 1292545
The North America AI as a Service Market would witness market growth of 39.9% CAGR during the forecast period (2023-2029).
AI as a Service (AIaaS) describes the subscription-based cloud-based distribution of artificial intelligence (AI) tools and capabilities. Organizations can use cloud-based AI services in place of developing or maintaining their individual AI infrastructure. Offerings for AI as a service frequently include pre-built machine learning models, computer vision services, NLP tools, and other artificial intelligence capabilities that may be quickly incorporated into existing applications or utilized to create entirely new applications that AI powers.
For a very long time, AI was out of reach for most businesses due to the large, expensive equipment and the few (and therefore expensive) programmers who developed them. As a result, many businesses lacked adequate data for the study. But as cloud services have become so widely available, AI has become more available. Companies nowadays have access to unlimited data sets that can be collected and stored, with which AI as a Service can help.
The technology sector in Canada is booming. Canada has about 43,200 companies in the information and communications technology (ICT) sector. The use of artificial intelligence in conjunction with 5G's immediate response, as well as hyper-connectivity, is renewing the field's promise even though it has been prevalent for the past ten years. Various businesses already utilize AI to enhance resource usage, demand forecasting, and behavioral patterns; however, as AI approaches real-time data analysis, personalized requests will be met faster. Although the digital transformation was already underway in Canada prior to the pandemic, it has accelerated due to the need to adopt and develop new technology. In AI, Canada is making significant investments. Therefore, the region presents lucrative growth prospects for the market throughout the forecast period.
The US market dominated North America AI as a Service Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $21,917 million by 2029. The Canada market is poised to grow at a CAGR of 43% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 41.8% during (2023 - 2029).
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-Sized Enterprises. Based on Offering, the market is segmented into Infrastructure as a Service, Platform as a Service and Software as a Service. Based on Technology, the market is segmented into Machine Learning, Natural Language Processing, Context Awareness and Computer Vision. Based on Cloud Type, the market is segmented into Public Cloud, Private Cloud and Hybrid Cloud. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Retail & eCommerce, Manufacturing, Healthcare & Life Sciences, Government & Defense, Government & Defense and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Oracle Corporation, Google LLC (Alphabet Inc.), Fair Isaac Corporation (FICO), Baidu, Inc., SAS Institute, Inc., SAP SE and Salesforce, Inc.
Market Segments covered in the Report:
By Organization Size
By Offering
By Technology
By Cloud Type
By Vertical
By Country
Companies Profiled
Unique Offerings from KBV Research
List of Figures