New York, NY -- (SBWIRE) -- 12/18/2020 -- Artificial Intelligence (AI) as a Service Market is forecasted to grow at a rate of 45.6% from USD 1.73 Billion in 2019 to USD 34.1 Billion in 2027, according to a new report by Reports and Data. AI as a service (AIaaS) is an artificial intelligence outsourcing service that is provided by a third party to enables big organizations and SMEs to explore growth avenues without high investment for initial installation. Most smart vendors, be it consultants, software firms, or professional service firms, partner with or offer organizations that can offer a full suite of services to help support a large-scale Artificial Intelligence solution. Major tech giants, such as IBM, Microsoft, Google, and other leading players, have aggressively implemented Artificial Intelligence solutions and services as an important part of their technologies.

The report is generated according to the latest economic landscape in tune with the COVID-19 crisis. The pandemic has affected the global economic scenario, and the report provides details about its impact on the overall industry. The report also mentions the current and future impact of COVID-19 on the market.

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Key Players Profiled in the Report are:

IBM, Microsoft, Amazon, Google, FICO, SAS Institute, IRIS AI, Salesforce, Mighty.AI, and Craft.AI.

The competitive scenario segment of the report focuses on company overview, total revenue, market potential, market share, growth rate, global presence, estimated revenue, products and services offered, and business strategies adopted. Significant players operating in the global Artificial Intelligence (AI) as a Service market are evaluated by considering market share, growth rate, revenue share, and product markets. The report focuses on a detailed explanation of competition, market growth size, margins, market shares, revenue estimation, business strategies and opportunities, mergers and acquisitions, sales, industry insights, and key factors.

For the purpose of this report, Reports and Data has segmented the global Artificial Intelligence (AI) as a Service market based on service type, technologies type, organizational size type, deployment mode type, end-user, end-user ownership type, application type, and region:

Service Type Outlook (Revenue, USD Billion; 2017-2027)

Services
Managed Services
Professional Services
Software Tools
Web-Based and Cloud Application Programming Interface
Processing and Modeler
Archiving and Data Storage
Others

Technologies Type Outlook (Revenue, USD Billion; 2017-2027)

Machine Learning and Deep Learning
Natural Language Processing
Computer Vision
Others

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Organizational Size Type Outlook (Revenue, USD Billion; 2017-2027)

Large Enterprises
Small and Medium-Sized Enterprises

Deployment Mode Type Outlook (Revenue, USD Billion; 2017-2027)

On-premises
Cloud

End-User Type Outlook (Revenue, USD Billion; 2017-2027)

Healthcare and Life Sciences
Banking, Financial Services, and Insurance
Telecommunication
Retail
Manufacturing
Government and Defense
Energy
Others

End-User Ownership Type Outlook (Revenue, USD Billion; 2017-2027)

Public
Private

Application Type Outlook (Revenue, USD Billion; 2017-2027)

Fraud Detection
Data Analytics & Visualization
Customer Service and management
Risk Management
Compliance & Security
Others

The report explores and studies the production, consumption, revenue share and estimation, market share and size, and growth rate in the following major geographical locations: North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. The Artificial Intelligence (AI) as a Service market report summarizes details such as market share of the regions, consumer demand and patterns of each region, revenue estimations, expected growth rate, and which segment will dominate the market in the forecast years.

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Key insights presented in the report:

Market revenue shares by major business players, by type, application, and market scope of global Artificial Intelligence (AI) as a Service market
Sales revenue by key players and new entrants
Competitive analysis of key players, including company overview, product or services specification, vendors, and buyers.
Recent mergers, acquisitions, product launches, recent investments, and joint ventures
Regional analysis to provide insight into recent trends and opportunities

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