Global Artificial Intelligence Services Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
25 Aug, 2021
The artificial intelligence (AI) services market consists of sales of AI services that are used in telecommunications, government, retail, defense and healthcare. Companies in the artificial intelligence market provide outsourced services to cater to business requirements. AI as a service enables individuals and businesses to use AI for different purposes, without significant initial investment and with lower risk.
Global Artificial Intelligence Services Market Size And Drivers:
The global artificial intelligence services market is expected grow from $0.77 billion in 2020 to $0.96 billion in 2021 at a compound annual growth rate (CAGR) of 24.7%. The growth is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The AI market is expected to reach $3.39 billion in 2025 at a CAGR of 37%. The rise in the adoption of cloud-based solutions is a key factor driving the growth of the AI services market.
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Trends In The Global Artificial Intelligence Services Market
The use of artificial intelligence as a service for human interaction with machines using natural language processing (NLP) is a key trend shaping the artificial intelligence services market. Natural language processing is a type of artificial intelligence that explains how human language and computers interact. Machine translation is an enormous technology for NLP that enables us to overcome challenges to contact with people from all over the world and to understand software manuals and catalogs written in a foreign language. For instance, the Livox app, a customizable application in 25 languages helps the disabled to communicate.
Global Artificial Intelligence Services Market Segments:
The global artificial intelligence services market is further segmented based on technology, end user, services type, software tools, organization type, deployment mode, application type and geography.
By Technology: Machine Learning, Computer Vision, Natural Language Processing (NLP), Others
By End-User: Banking, Financial, and Insurance (BFSI), IT & Telecom, Retail, Manufacturing, Public Sector, Energy & Utility, Healthcare, Others
By Services Type: Managed Services, Professional Services
By Software Tools: Web-based and Cloud Application Programming Interface, Processing and Modeler, Archiving and Data Storage
By Organization Type: Small and Medium-Sized Enterprises, Large Enterprise
By Deployment Mode: On-Premise, Cloud
By Application Type: Fraud Detection, Data Analytics & Visualization, Customer Service and Management, Risk Management, Compliance & Security
By Geography: The global artificial intelligence services market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Artificial Intelligence Services Market At:https://www.thebusinessresearchcompany.com/report/artificial-intelligence-services-market-global-report-2020-30-covid-19-growth-and-change
Artificial Intelligence Services Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides artificial intelligence services market overviews, analyzes and forecasts market size and growth for the global artificial intelligence services market, artificial intelligence services market share, artificial intelligence services market players, artificial intelligence services market segments and geographies, artificial intelligence services market’s leading competitors’ revenues, profiles and market shares. The artificial intelligence services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.