Latest News- Artificial Intelligence-As-A-Service (AIaaS) Market: Retail and healthcare is expected to lead the End-user segment during 2025-2029

The Artificial Intelligence-As-A-Service (AIaaS) Market is being driven by Increasing investment in research and development

The Artificial Intelligence-As-A-Service (AIaaS) Market is expected to grow at a CAGR of 42.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 60237.9 million. Incorporating blockchain technology into Artificial Intelligence-as-a-Service (AIaaS) solutions offers numerous benefits for enterprises. This technology, which functions as a decentralized, distributed, and public digital ledger, can significantly enhance the operational process by managing decentralized records and reducing human error and operating costs. Moreover, it improves traceability, allowing for real-time tracking and increasing security, while reducing fraud and automating data flow. Additionally, it eliminates paperwork, increases transparency during the movement of products, and provides scalability for quick and easy access to databases from anywhere in the world. These advantages enable businesses to collaborate with AIaaS providers, streamlining processes, increasing efficiency, and ultimately driving the growth of the global AIaaS market. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• End-user
  • Retail and healthcare
  • BFSI
  • Telecommunication
  • Government and defense
  • Others
• Type
  • Software
  • Services
• Deployment
  • Public cloud
  • Private cloud
  • Hybrid cloud
• Source
  • Large enterprises
  • SMEs
• Technology
  • Machine learning
  • Natural language processing
  • Computer vision
  • Others
• Geography
  • North America
    • Canada
    • US
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
    • Italy
  • Middle East and Africa
  • South America

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing investment in research and development
• Cloud-based solutions
• Increasing adoption of AI in predictive analysis

However, the market also witnesses some limitations, which are as follows:

• Data privacy issues
• Company lock-in issues in AI platforms
• Need for regulatory compliance

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Market Scope in Artificial Intelligence-As-A-Service (AIaaS) Market Research Report

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Research Analysis Overview

The Artificial Intelligence-as-a-Service (AIaaS) market encompasses various aspects, including model accuracy, API request volume handling, data preprocessing techniques, model retraining frequencies, infrastructure scalability, service reliability, model performance tuning, algorithm efficiency, data labeling accuracy, API security measures, platform integration, cost optimization strategies, performance benchmarking, model version control, developer support quality, API documentation completeness, AI application testing, model deployment automation, data governance policies, compliance certification, solution architecture, predictive model accuracy, system monitoring, model interpretability, data quality assessment, resource utilization, latency reduction techniques, and AI platform capabilities. These elements collectively contribute to the overall effectiveness and success of AIaaS offerings.

Market Research Overview

The Artificial Intelligence-as-a-Service (AIaaS) market is a significant segment within the broader IT software industry. This market encompasses companies providing machine learning APIs, deep learning models, and natural language processing solutions. The global system software market, a super category within the IT software sector, includes organizations specializing in application and systems software development and production, as well as database management software. According to Technavio, the global system software market size is determined by the combined revenue generated by entities offering all types of systems software, including cloud-based solutions. AIaaS providers are key contributors to this market, offering advanced technologies that enhance business operations and drive digital transformation.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/