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AI Platform Cloud Service Market Snapshot (2022 to 2032)

Global AI platform cloud service demand is anticipated to be valued at US$ 8.3 Billion in 2022, forecast to grow at a CAGR of 20.3% to be valued at US$ 30.5 Billion from 2022 to 2032. Growth is attributed to the increasing demand for intelligent business processes.

Report Attribute Details
Estimated Base Year Value (2021) US$ 7 Billion
Expected Market Value (2022) US$ 8.3 Billion
Anticipated Forecast Value (2032) US$ 30.5 Billion
Projected Growth Rate (2022 to 2032) 20.3% CAGR

AI platform cloud service is considered an integration of AI software services, using the cloud infrastructure for building, deploying, as well as managing AI solutions with the assistance of artificial intelligence and machine learning to deliver optimized workflows. With AI platform cloud services, companies are enabled to automate operations and assist in decision-making, using artificial intelligence to enhance efficiency.

Organizations are empowered by AI platform cloud services, to provide a reliable operational environment with better security. In addition, companies make use of these services in order to reduce IT on-premise infrastructure investment.

Major factors such as flexible work practices, increasing demand for cloud computing, scalability, and collaboration efficiency are expected to accelerate the growth of the AI platform cloud services market during the forecast period.

Increasing demand for Intelligent Business Processes and growing innovations across end-users are some other factors that are anticipated to offer lucrative opportunities for the growth of the market over the analysis period.

On the contrary, factors including less adoption rate for AI platform cloud service, and lack of infrastructural requirements are likely to restrain the growth of the AI platform cloud service market in the forthcoming years.

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Which are Some Prominent Drivers Spearheading AI Platform Cloud Service Market Growth?

The increasing adoption of 5G, growing mobile penetration, and rapidly increasing demand for AI industries are some major factors that will augment the growth of the AI platform cloud services market during the analysis period. Additionally, an increase in demand for services that can provide flexibility, effective collaboration, and scalability is one of the major factors that is expected to bring growth prospects to the AI platform cloud service market in the coming years.

AI platform cloud services provide easy access to AI-driven information using the cloud, which is gaining traction from developers and data scientists, to manage crucial data insight and take informative decisions. This factor is projected to fuel the market over the forecast period.

Nowadays, there is a huge demand for virtual assistants in cloud platforms, and organizations are massively adopting hybrid cloud platforms, as these provide widespread approaches. These factors are expected to provide productive opportunities for the growth of the AI platform cloud service market in the near future.

Moreover, the advent of Industry 4.0 has become a key focus area for many industries, which in turn, is anticipated to hasten market growth in the next few years. In addition, factors such as the rise in the need for virtualization, analytics, and easy outsourcing of services from third-party vendors from various end-user industries will drive the AI platform cloud service market across the globe.

What are the Challenges Faced by the AI Platform Cloud Service Industry?

Concerns about third-party access to crucial data in organizations, and less adoption rate for Artificial Intelligence (AI) platform cloud service are the major factors that are expected to hinder the growth of the AI Platform Cloud Service Market during the forecast period.

Further, factors such as less awareness about the key benefits of Artificial Intelligence (AI), and lack of expertise to manage AI services in organizations will hamper the market growth over the analysis period.

The lack of infrastructural requirements is one of the major factors that will impede the growth of the AI platform cloud service market during the forecast period.

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Sudip Saha

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Why is North America Emerging as an Opportunistic AI Platform Cloud Service Market?

The AI platform cloud service market in North America is expected to hold the largest share. Considering the revenue generation, the regional market is expected to reach a CAGR of 19.5% during the forecast period.

Factors such as the dense presence of the AI platform cloud service vendors in this region, their increasing initiatives for technological advancements in AI cloud, and the highly aware population in the region are expected to propel the growth of the AI platform cloud service market over the analysis period.

Some technical foundations of Artificial Intelligence (AI), such as low-cost cloud services, connected and sensing devices (the Internet of Things), machine-learning algorithms, and data analytics are expected to create exciting opportunities for deploying these services in the governmental agencies in the region.

How is Asia-Pacific Contributing to Growth of the AI Platform Cloud Service Market?

The Asia-Pacific is expected to register the fastest growth in revenue generation for the AI Platform Cloud Service market due to the large population in countries such as China, and India. Moreover, the expansion of the IT sector in countries such as China, India, and Japan is anticipated to elevate the market demand in the near future.

Factors such as the market players increasingly deploying the AI platform cloud service for improving the data science operations in the region are expected to accelerate the growth of the AI platform cloud service market during the forecast period.

The rapid increase in the manufacturing and IT & Telecommunication industry is one of the major factors that will boost the market growth in the forthcoming years. In addition, the market is gaining traction and is expected to fuel, owing to the increasing demand for advanced applications development in this region. The Asia-Pacific AI platform cloud service market is expected to reach a CAGR of 19.3%.

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Market Competition

Some of the key participants present 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, among others.

Attributed to the presence of such a high number of participants, the market is highly competitive. While global players such as Oracle Corporation, Microsoft Corporation, IBM, and Google LLC., account for a considerable market size, several regional-level players are also operating across key growth regions, particularly in North America.

Recent Developments

  • In August 2020, Google Cloud extended its partnership with Best Buy in a multi-year agreement for Best Buy’s Enterprise Data Platform. The partnership is expected to deliver an enhanced technological experience, by using Artificial Intelligence (AI), and analytics to create more personalized shopping experiences for customers of the latter.
  • In April 2020, Siemens announced the availability of its MindSphere on Alibaba Cloud. The successful deployment and operation are expected to foster the industrial Internet of Things (IoT) in China.

Report Scope

Report Attribute Details
Growth Rate CAGR of 20.3% from 2022 to 2032
Market Value in 2022 US$ 8.3 Billion
Market Value in 2032 US$ 30.5 Billion
Base Year for Estimation 2021
Historical Data 2017 to 2021
Forecast Period 2022 to 2032
Quantitative Units Revenue in USD Billion, Volume in Kilotons, and CAGR from 2022 to 2032
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
  • Industry
  • Enterprise Size
  • Region
Regional Scope
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa
Country Scope
  • USA
  • Canada
  • Mexico
  • Germany
  • Italy
  • France
  • United Kingdom
  • Russia
  • BENELUX
  • China
  • Japan
  • South Korea
  • GCC Countries
  • South Africa
  • Turkey
Key Companies Profiled
  • Oracle Corporation
  • Microsoft Corporation
  • IBM
  • Google LLC
  • Infosys Limited
  • Amazon Web Services
  • Wipro Limited
  • Baidu Inc.
  • Cloudera Inc.
  • Informatica LLC
Report Customization & Pricing Available upon Request

Key Segments Profiled in the AI Platform Cloud Service Industry Survey

By Industry:

  • Travel and Tourism
  • IT & Telecommunications
  • Service for Manufacturing
  • Service for Retail
  • Service for Other Industries

By Enterprise Size:

  • Small, and Medium Enterprises
  • Large Enterprises

By Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

Frequently Asked Questions

What is the anticipated growth of the AI Platform Cloud Service market until 2032?

FMI projects the global AI Platform Cloud Service market to expand at a 20.3% value CAGR by 2032

Which region is forecast to be the most lucrative for AI Platform Cloud Service market growth?

North America is expected to be the most opportunistic AI Platform Cloud Service market, expanding at 19.5% CAGR

Which are some prominent AI platform cloud service providers?

Oracle Corporation, Microsoft Corporation, IBM, Google LLC, Infosys Limited, Amazon Web Services, Wipro Limited, and Baidu Inc., are some prominent AI platform cloud service providers

Table of Content

1. Executive Summary | AI Platform Cloud Service Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Investment Feasibility Matrix

    3.6. PESTLE and Porter’s Analysis

    3.7. Regulatory Landscape

        3.7.1. By Key Regions

        3.7.2. By Key Countries

    3.8. Regional Parent Market Outlook

4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032

    4.1. Historical Market Size Value (US$ Million) Analysis, 2017 to 2021

    4.2. Current and Future Market Size Value (US$ Million) Projections, 2022 to 2032

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Industry

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) Analysis By Industry, 2017 to 2021

    5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Industry, 2022 to 2032

        5.3.1. Travel and Tourism

        5.3.2. IT & Telecommunication

        5.3.3. Manufacturing

        5.3.4. Retail

        5.3.5. Others

    5.4. Y-o-Y Growth Trend Analysis By Industry, 2017 to 2021

    5.5. Absolute $ Opportunity Analysis By Industry, 2022 to 2032

6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Enterprise Size

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) Analysis By Enterprise Size, 2017 to 2021

    6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Enterprise Size, 2022 to 2032

        6.3.1. Small Enterprises

        6.3.2. Medium Enterprises

        6.3.3. Large Enterprises

    6.4. Y-o-Y Growth Trend Analysis By Enterprise Size, 2017 to 2021

    6.5. Absolute $ Opportunity Analysis By Enterprise Size, 2022 to 2032

7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region

    7.1. Introduction

    7.2. Historical Market Size Value (US$ Million) Analysis By Region, 2017 to 2021

    7.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2022 to 2032

        7.3.1. North America

        7.3.2. Latin America

        7.3.3. Europe

        7.3.4. Asia Pacific

        7.3.5. Middle East and Africa

    7.4. Market Attractiveness Analysis By Region

8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country

    8.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    8.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032

        8.2.1. By Country

            8.2.1.1. USA

            8.2.1.2. Canada

        8.2.2. By Industry

        8.2.3. By Enterprise Size

    8.3. Market Attractiveness Analysis

        8.3.1. By Country

        8.3.2. By Industry

        8.3.3. By Enterprise Size

    8.4. Key Takeaways

9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country

    9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032

        9.2.1. By Country

            9.2.1.1. Brazil

            9.2.1.2. Mexico

            9.2.1.3. Rest of Latin America

        9.2.2. By Industry

        9.2.3. By Enterprise Size

    9.3. Market Attractiveness Analysis

        9.3.1. By Country

        9.3.2. By Industry

        9.3.3. By Enterprise Size

    9.4. Key Takeaways

10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country

    10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032

        10.2.1. By Country

            10.2.1.1. Germany

            10.2.1.2. Italy

            10.2.1.3. France

            10.2.1.4. United Kingdom

            10.2.1.5. Russia

            10.2.1.6. BENELUX

            10.2.1.7. Rest of Europe

        10.2.2. By Industry

        10.2.3. By Enterprise Size

    10.3. Market Attractiveness Analysis

        10.3.1. By Country

        10.3.2. By Industry

        10.3.3. By Enterprise Size

    10.4. Key Takeaways

11. Asia Pacific Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country

    11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032

        11.2.1. By Country

            11.2.1.1. China

            11.2.1.2. Japan

            11.2.1.3. South Korea

            11.2.1.4. Rest of Asia Pacific

        11.2.2. By Industry

        11.2.3. By Enterprise Size

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Industry

        11.3.3. By Enterprise Size

    11.4. Key Takeaways

12. Middle East and Africa Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country

    12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2017 to 2021

    12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2022 to 2032

        12.2.1. By Country

            12.2.1.1. GCC Countries

            12.2.1.2. South Africa

            12.2.1.3. Turkey

            12.2.1.4. Rest of Middle East and Africa

        12.2.2. By Industry

        12.2.3. By Enterprise Size

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Industry

        12.3.3. By Enterprise Size

    12.4. Key Takeaways

13. Key Countries Market Analysis

    13.1. USA

        13.1.1. Pricing Analysis

        13.1.2. Market Share Analysis, 2021

            13.1.2.1. By Industry

            13.1.2.2. By Enterprise Size

    13.2. Canada

        13.2.1. Pricing Analysis

        13.2.2. Market Share Analysis, 2021

            13.2.2.1. By Industry

            13.2.2.2. By Enterprise Size

    13.3. Brazil

        13.3.1. Pricing Analysis

        13.3.2. Market Share Analysis, 2021

            13.3.2.1. By Industry

            13.3.2.2. By Enterprise Size

    13.4. Mexico

        13.4.1. Pricing Analysis

        13.4.2. Market Share Analysis, 2021

            13.4.2.1. By Industry

            13.4.2.2. By Enterprise Size

    13.5. Germany

        13.5.1. Pricing Analysis

        13.5.2. Market Share Analysis, 2021

            13.5.2.1. By Industry

            13.5.2.2. By Enterprise Size

    13.6. Italy

        13.6.1. Pricing Analysis

        13.6.2. Market Share Analysis, 2021

            13.6.2.1. By Industry

            13.6.2.2. By Enterprise Size

    13.7. France

        13.7.1. Pricing Analysis

        13.7.2. Market Share Analysis, 2021

            13.7.2.1. By Industry

            13.7.2.2. By Enterprise Size

    13.8. United Kingdom

        13.8.1. Pricing Analysis

        13.8.2. Market Share Analysis, 2021

            13.8.2.1. By Industry

            13.8.2.2. By Enterprise Size

    13.9. Russia

        13.9.1. Pricing Analysis

        13.9.2. Market Share Analysis, 2021

            13.9.2.1. By Industry

            13.9.2.2. By Enterprise Size

    13.10. BENELUX

        13.10.1. Pricing Analysis

        13.10.2. Market Share Analysis, 2021

            13.10.2.1. By Industry

            13.10.2.2. By Enterprise Size

    13.11. China

        13.11.1. Pricing Analysis

        13.11.2. Market Share Analysis, 2021

            13.11.2.1. By Industry

            13.11.2.2. By Enterprise Size

    13.12. Japan

        13.12.1. Pricing Analysis

        13.12.2. Market Share Analysis, 2021

            13.12.2.1. By Industry

            13.12.2.2. By Enterprise Size

    13.13. South Korea

        13.13.1. Pricing Analysis

        13.13.2. Market Share Analysis, 2021

            13.13.2.1. By Industry

            13.13.2.2. By Enterprise Size

    13.14. GCC Countries

        13.14.1. Pricing Analysis

        13.14.2. Market Share Analysis, 2021

            13.14.2.1. By Industry

            13.14.2.2. By Enterprise Size

    13.15. South Africa

        13.15.1. Pricing Analysis

        13.15.2. Market Share Analysis, 2021

            13.15.2.1. By Industry

            13.15.2.2. By Enterprise Size

    13.16. Turkey

        13.16.1. Pricing Analysis

        13.16.2. Market Share Analysis, 2021

            13.16.2.1. By Industry

            13.16.2.2. By Enterprise Size

14. Market Structure Analysis

    14.1. Competition Dashboard

    14.2. Competition Benchmarking

    14.3. Market Share Analysis of Top Players

        14.3.1. By Regional

        14.3.2. By Industry

        14.3.3. By Enterprise Size

15. Competition Analysis

    15.1. Competition Deep Dive

        15.1.1. Oracle Corporation

            15.1.1.1. Overview

            15.1.1.2. Product Portfolio

            15.1.1.3. Profitability by Market Segments

            15.1.1.4. Sales Footprint

            15.1.1.5. Strategy Overview

                15.1.1.5.1. Marketing Strategy

        15.1.2. Microsoft Corporation

            15.1.2.1. Overview

            15.1.2.2. Product Portfolio

            15.1.2.3. Profitability by Market Segments

            15.1.2.4. Sales Footprint

            15.1.2.5. Strategy Overview

                15.1.2.5.1. Marketing Strategy

        15.1.3. IBM

            15.1.3.1. Overview

            15.1.3.2. Product Portfolio

            15.1.3.3. Profitability by Market Segments

            15.1.3.4. Sales Footprint

            15.1.3.5. Strategy Overview

                15.1.3.5.1. Marketing Strategy

        15.1.4. Google LLC

            15.1.4.1. Overview

            15.1.4.2. Product Portfolio

            15.1.4.3. Profitability by Market Segments

            15.1.4.4. Sales Footprint

            15.1.4.5. Strategy Overview

                15.1.4.5.1. Marketing Strategy

        15.1.5. Infosys Limited

            15.1.5.1. Overview

            15.1.5.2. Product Portfolio

            15.1.5.3. Profitability by Market Segments

            15.1.5.4. Sales Footprint

            15.1.5.5. Strategy Overview

                15.1.5.5.1. Marketing Strategy

        15.1.6. Amazon Web Services

            15.1.6.1. Overview

            15.1.6.2. Product Portfolio

            15.1.6.3. Profitability by Market Segments

            15.1.6.4. Sales Footprint

            15.1.6.5. Strategy Overview

                15.1.6.5.1. Marketing Strategy

        15.1.7. Wipro Limited

            15.1.7.1. Overview

            15.1.7.2. Product Portfolio

            15.1.7.3. Profitability by Market Segments

            15.1.7.4. Sales Footprint

            15.1.7.5. Strategy Overview

                15.1.7.5.1. Marketing Strategy

        15.1.8. Baidu Inc.

            15.1.8.1. Overview

            15.1.8.2. Product Portfolio

            15.1.8.3. Profitability by Market Segments

            15.1.8.4. Sales Footprint

            15.1.8.5. Strategy Overview

                15.1.8.5.1. Marketing Strategy

        15.1.9. Cloudera Inc.

            15.1.9.1. Overview

            15.1.9.2. Product Portfolio

            15.1.9.3. Profitability by Market Segments

            15.1.9.4. Sales Footprint

            15.1.9.5. Strategy Overview

                15.1.9.5.1. Marketing Strategy

        15.1.10. Informatica LLC

            15.1.10.1. Overview

            15.1.10.2. Product Portfolio

            15.1.10.3. Profitability by Market Segments

            15.1.10.4. Sales Footprint

            15.1.10.5. Strategy Overview

                15.1.10.5.1. Marketing Strategy

16. Assumptions & Acronyms Used

17. Research Methodology

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