Global AI Platform Cloud Service Market: Overview
Increasing popularity of cloud-based services across different enterprises is ultimately creating a need for innovative cloud services for sustaining in changing scenarios of technological solutions. Due to such advancements, the AI platform cloud service is emerging as a new trend to sustain in changing market. The leading cloud services providers such as Oracle Corporation, Microsoft, IBM, and others are creating a new technological advancement in cloud services they are offering such as AI platform cloud service. The AI platform cloud service vendors are integrating cloud platform and AI as well as machine learning in the cloud services for delivering a today's modern cloud-based applications to the customers. The vendors of AI platform cloud service are more focused on advancements in AI platform cloud service by adding machine learning to it, and such factors are creating potential market opportunities for AI platform cloud service.
The demand for AI platform cloud service from data science team is also increasing significantly from past few years due to its application is work organization, access data, as well as training, building, and others. AI platform cloud service is increasingly in demand across different industry verticals for developing industry-specific advanced solutions. In addition to this, the AI platform cloud service is increasingly demanded to improve the performance by integrating features such as chat-bots, speech recognition, and others.
Global AI Platform Cloud Service Market: Drivers and Restraints
The adoption of AI platform cloud service by application developers and data scientists for developing and deploying machine-learning models is fuelling the AI platform cloud service market significantly. Also, the AI platform cloud service is used increasingly in the management of the complete data science lifecycle on the preferred open-source frameworks. The increasing demand for developing smart applications is another factor fuelling the AI platform cloud service market. The rising adoption of AI in different enterprise level operations is resulting in rising demand for AI platform cloud service. In addition to this, availability of multiple functionalities with the AI integration such as machine learning, data science, and different libraries is resulting in the additional adoption of AI platform cloud service. The increasing competition at the enterprise level is creating a need for developing new services to sustain in the market, and this factor is expected to drive the AI platform cloud service market growth over the forecast period. On the other hand, less adoption rate for AI platform cloud service and lack of infrastructural requirements are some of the factors hindering the growth of the AI platform cloud service market.
Global AI Platform Cloud Service Market: Segmentation
The global AI platform cloud service market is segmented on the basis of industry, enterprise size, and region. The segmentation based on industries includes the industry vertical which are using the AI platform cloud service for application development or data analysis and others. The industry segmentation includes travel and tourism, IT & telecommunication, manufacturing, retail, and others. On the basis of enterprise size, the AI platform cloud service market is segmented into small, medium and large enterprises. On the basis of the region, the AI platform cloud service market is segmented into segmented into North America, Latin America, Europe, Eastern Europe, CIS & Russia, Japan, and MEA.
Global AI Platform Cloud Service Market: Industry Key Players
Examples of some of the key players in the global AI Platform Cloud Service market include Oracle Corporation, Microsoft Corporation, IBM, Google LLC, Infosys Limited, Amazon Web Services, Wipro Limited, Baidu Inc., Cloudera Inc., Informatica LLC, and others. AI platform cloud service vendors are continuously focusing on innovations in their products. This strategy is followed by key vendors of AI platform cloud service for sustaining themselves in the increasing global competition. In addition to this, AI platform cloud service vendors are focusing on integrating new and advanced technologies to deliver an outstanding service to the customers such as chat-bots, speech recognition, and others.
Global AI Platform Cloud Service Market: Region Wise Outlook
Considering the revenue generation the North America region dominates the global AI platform cloud service market due to the dense presence of the AI platform cloud service vendors in this region and hence dominating the market. European countries are a second largest market for the AI platform cloud service demand as enterprises in this region are increasingly deploying the AI platform cloud service for improving the data science operations. APEJ region AI platform cloud service market is expected to grow at significant CAGR over the forecast period due to rapid increase in manufacturing and IT & Telecommunication industry. As this trend is resulting into increasing demand for advanced applications developments in this region and hence fuelling the demand for AI platform cloud service over the forecast period and this trend is expected to be followed by Japan. On the other hand, the MEA region market is expected to grow at moderate CAGR.
The report covers an exhaustive analysis on:
Regional analysis Includes:
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.