SAN FRANCISCO , June 23, 2022 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Artificial Intelligence as a Service (AIaaS) - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
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Edition: 7; Released: January 2022
Executive Pool: 133784
Companies: 248 - Players covered include Alphabet Inc. (Google Inc.); Amazon Web Services; Apple Inc.; Baidu; BigML; BMC; CognitiveScale, Inc.; Fair Isaac Corporation; IBM Corporation; Intel Corporation; Microsoft Corporation; Oracle Corporation; Salesforce, Inc.; SAP SE and Others.
Coverage: All major geographies and key segments
Segments: Type (Software Tools, Services); Technology (Machine Learning & Deep Learning, Natural Language Processing); Vertical (BFSI, Healthcare & Life Sciences, Retail, Telecommunications, Government & Defense, Other Verticals)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Artificial Intelligence as a Service (AIaaS) Market to Reach $30.9 Billion by 2026
Amid the COVID-19 crisis, the global market for Artificial Intelligence as a Service (AIaaS) estimated at US$3.6 Billion, is projected to reach a revised size of US$30.9 Billion by 2026, growing at a CAGR of 42.6% over the analysis period. Software Tools, one of the segments analyzed in the report, is projected to record a 44.2% CAGR and reach US$32.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 38.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.6 Billion in 2021, While China is Forecast to Reach $5 Billion by 2026
The Artificial Intelligence as a Service (AIaaS) market in the U.S. is estimated at US$1.6 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$5 Billion by the year 2026 trailing a CAGR of 40.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 38.5% and 36.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 29% CAGR. More
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SOURCE Global Industry Analysts, Inc.