Global A Iaa S

There’s Nothing Artificial About This Opportunity

June 23, 2022

The artificial intelligence-as-a-service (AIaaS) market share is expected to increase by $15.14 billion from 2019 to 2024. The market’s growth momentum will accelerate at a CAGR of 48.22%.

Increasing investment in research and development is driving the artificial intelligence-as-a-service (AIaaS) market growth, although factors such as data privacy issues could impede its growth. 

Enterprises across the globe are increasingly focusing on upgrading their IT systems and empowering their workforce with AI-based solutions and services to gain a competitive advantage. Governments across regions are also promoting AI-based solutions by investing in R&D and establishing educational programs to train and develop a workforce on AI solutions and services. That said, factors such as data privacy issues may impede market growth.

Source: Artificial Intelligence-as-a-Service Market - Competitive Analysis, Drivers, Challenges & Five Force Analysis

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