LONDON--(BUSINESS WIRE)--The artificial intelligence-as-a-service market is expected to register a CAGR of over 48% during 2020-2024, as per the latest research report by Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the market in optimistic, probable, and pessimistic forecast scenarios.
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Due to the extensive spread of the virus across the globe, the Information Technology industry is anticipated to have a Mixed impact. The artificial intelligence-as-a-service market will showcase Positive impact during 2020-2024.
Artificial intelligence-as-a-service market 2020-2024: Segmentation
Artificial intelligence-as-a-service market is segmented as below:
- Retail and Healthcare
- Government and Defense
- North America
- South America
North America was the largest artificial intelligence-as-a-service market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The high adoption of cloud, AI, ML, and big data analysis to draw business insights, the growing popularity of cloud computing services, and the high integration of AI with big data and IoT for real-time predictions will significantly influence artificial intelligence-as-a-service market growth in this region.
The Information Technology market is anticipated to have Direct impact and the artificial intelligence-as-a-service market demand will show At Par growth. View market snapshot before purchasing
Increasing adoption of AI in predictive analysis has been an instrumental factor in influencing the growth of artificial intelligence-as-a-service market. Other market drivers include increasing investment in R&D and cloud-based solutions. Technavio offers custom research analysis on the crucial pointers to highlight the impact of COVID-19 on the market across the supply chain.
Key Considerations for Market Forecast:
- Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
- Optimistic, base case and pessimistic scenarios for all markets as the impact of pandemic unfolds
- Pre- as well as post-COVID 19 market estimates
- Quarterly impact analysis as the spread reaches a global level and updates on market estimates
Get more insights on the global trends impacting the future of the artificial intelligence-as-a-service market, Request Free Sample - https://www.technavio.com/talk-to-us?report=IRTNTR41175
Artificial intelligence-as-a-service market 2020-2024: Vendor Analysis
The market is concentrated, and the degree of concentration will accelerate during the forecast period. Key players in the market have been launching several initiatives and introducing innovative products and services to cater to a larger target audience during the pandemic. Major market participants include Alphabet Inc., Amazon.com Inc., Apple Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Oracle Corp., Salesforce.com Inc., SAP SE, and SAS Institute Inc.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform
Table of Contents:
- Market Overview
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user placement
- Retail and healthcare - Market size and forecast 2019-2024
- BFSI - Market size and forecast 2019-2024
- Telecommunications - Market size and forecast 2019-2024
- Government and defense - Market size and forecast 2019-2024
- Others - Market size and forecast 2019-2024
- Market opportunity by End-user
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher-priced units
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Alphabet Inc.
- Amazon.com Inc.
- Apple Inc.
- Intel Corp.
- International Business Machines Corp.
- Microsoft Corp.
- Oracle Corp.
- Salesforce.com Inc.
- SAP SE
- SAS Institute Inc.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.