The global Artificial Intelligence-as-a-Service market was valued at USD 2.68 billion in 2019, and it is expected to reach USD 28.58 billion by 2025, registering a CAGR of 48.9% during the period of 2020-2025

Advertisement

BEGIN ARTICLE PREVIEW:

NEW YORK, Nov. 19, 2020 /PRNewswire/ –The global Artificial Intelligence-as-a-Service market was valued at USD 2.68 billion in 2019, and it is expected to reach USD 28.58 billion by 2025, registering a CAGR of 48.9% during the period of 2020-2025. With the increasing number of enterprises and competition among them, companies are rigorously trying to integrate artificial intelligence (AI) technology to their application, business, analytics, and services. Read the full report: https://www.reportlinker.com/p05986861/?utm_source=PRN – Moreover, companies are trying to reduce their operational cost to increase profit margins, due to which Artificial Intelligence-as-a-Service (AIaaS) is gaining more prominence over the cloud. Notably, companies are more interested in cloud-based machine learning, which helps in experimenting with their offerings. – The rising trend of multi-cloud functioning and growing need for cloud-based intelligence services are also increasing the demand for AI as a service. According to IBM, by 2021, 98% of the organization’s plan will adopt multi-cloud architectures, with only 41% having a multi-cloud management strategy and just 38% having procedures and tools to operate a multi-cloud environment. This creates a massive opportunity for AI services. – Many government organizations, especially in emerging economies, are also understanding the benefits and power of AI; hence, they are extensively promoting AI-based …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE