AI as a Service Market worth $55.0 billion by 2028

Kyramania07 Aug, 2024Technology

The global AI as a Service Market size is estimated at USD 9.3 billion in 2023 and is projected to reach USD 55.0 billion by 2028, at a CAGR of 42.6% during the forecast period, according to a new report by MarketsandMarkets?. The AI as a Service Market has been growing rapidly in recent years as more businesses adopt AI technologies to gain a competitive edge. The market is driven by the need for cost-effective and scalable AI solutions that can be easily integrated into existing workflows. AIaaS providers offer a range of services, including machine learning, natural language processing, computer vision, and predictive analytics, among others. The market is also fueled by the increasing demand for cloud-based solutions that can be accessed from anywhere, at any time. The AIaaS market is expected to continue to grow in the coming years, driven by advancements in AI technology and the increasing adoption of AI in various industries.