AIaaS CAGR Forecast at 56%
October 1, 2018
to a new report published by Allied Market
Research, titled, Artificial Intelligence as
a Service Market (AIaaS Market) by
Technology, Organization Size, and Industry
Vertical: Global Opportunity Analysis and
Industry Forecast, 2018-2025, the global
artificial intelligence as a service market
(AIaaS) accounted for $2,397.2 million in
2017, and is expected to reach $77,047.7
million by 2025, growing at a CAGR of 56.7%
from 2018 to 2025. In 2017, North America
dominated the global market, in terms of
revenue, accounting for about 47.0% share of
the global market, followed by Asia-Pacific.
Yash Doshi , Sr. Research Analyst with Allied Market Research said, "North America is among the biggest markets for cognitive computing owing to the presence of numerous large industries and IT infrastructure, which contribute to the growth of the AIaaS market in this region. Further, it is projected to generate the highest market revenue during the forecast period with predominant deployments in the IT & telecom and BFSI industries"
machine learning segment secured the highest
share of about 42.0% in the artificial
intelligence market in 2017 and is expected
to grow at a CAGR of 55.9% during the
forecast period. The large enterprises
segment is the highest contributor in the
growth of the AIaaS market. This segment
secured 66.0% share in the market and is
projected to grow at a CAGR of 57.0% during
the forecast period. In terms of industry
vertical, the IT & telecom segment is
expected to contribute the highest market
share in the coming years, as various new
startups have been investing in artificial
intelligence solutions. Moreover, the rapid
urbanization, technological advancement and
increase in demand for cloud applications
fuel the demand for AIaaS in the developing
•In 2017, the IT & telecom segment dominated the global artificial intelligence as a service market, in terms of revenue, and is projected to grow at a CAGR of 57.4% during the forecast period.
•The machine learning segment is projected to grow at a CAGR of 55.9% during the forecast period.
America is projected to be one of the
fastest growing region in the artificial
intelligence as a service market and is
expected to witness high growth rate.