How has the cloud ai market evolved, and where is it heading next?
The cloud AI market size has grown exponentially in recent years. It will grow from $80.56 billion in 2024 to $109.94 billion in 2025 at a compound annual growth rate (CAGR) of 36.5%. The growth in the historic period can be attributed to growing computational power and affordability, development of readily available ai models, emergence of big data and data analytics, increased automation and optimization demands
The cloud AI market size is expected to see exponential growth in the next few years. It will grow to $428.59 billion in 2029 at a compound annual growth rate (CAGR) of 40.5%. The growth in the forecast period can be attributed to growing adoption of hybrid and multi-cloud strategies, increased adoption of edge computing, growing focus on transparency, rise of ai-powered applications in diverse industries. Major trends in the forecast period include integration with iot, strategic collaborations, investments by key players, technological advancements.
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What are the key drivers behind the rapid expansion of the cloud ai market?
Increasing demand for virtual assistants is expected to propel the growth of the cloud AI market going forward. Virtual assistants, also known as voice assistants or digital assistants, use artificial intelligence (AI) technologies to provide users with interactive and personalized assistance. They are designed to understand and respond to user queries, perform tasks, and provide relevant information or services. Cloud AI is commonly used to power virtual assistants and enhance their capabilities, allowing businesses to build, train, deploy, and manage AI models at scale. Its benefits include scalability, reliability, security, and cost-effectiveness. For instance, in April 2023, according to reports shared by Demand Sage, a US-based AI-powered demand planning platform, by 2023, there will be 4.2 billion voice assistants. In 2024, this number will increase to 8.4 billion, including 72% of individuals who utilized voice assistants in the previous six months of 2023. Therefore, the Increasing demand for virtual assistants is driving the growth of the cloud AI market.
What is the segmentation for the cloud ai market?
The cloud AI market covered in this report is segmented –
1) By Type: Solution, Service
2) By Technology: Deep Learning, Machine Learning, Natural Language Processing, Other Technologies
3) By End-User Vertical: Banking Financial Services And Insurance (BFSI), Healthcare, Automotive, Retail, Government, Education, Other End-User Verticals
Subsegments:
1) By Solution: AI Platforms, Machine Learning Solutions, Natural Language Processing (NLP) Solutions, Computer Vision Solutions, Robotics Process Automation (RPA)
2) By Service: AI Consulting Services, AI integration Services, Managed AI Services, Support And Maintenance Services
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Who are the most influential companies in the cloud ai market?
Major companies operating in the cloud AI market include Amazon Web Services Inc., MicroStrategy Incorporated, Apple Inc., Microsoft Corporation, Google LLC, Huawei Cloud, Intel Corporation, Accenture PLC, International Business Machines Corporation (IBM), Cisco Systems Inc., Oracle Corporation, Salesforce Inc., SoundHound Inc., Tata Consultancy Services, Nvidia Corporation, Capgemini SE, Baidu Inc., Cognizant Technology Solutions Corporation, Infosys Limited, ZTE Corp., DXC Technology, Atos SE, HCL Technologies, Wipro Ltd., Twilio Inc., Nuance Communications Inc., Verint Systems Inc., DataRobot Inc., H2O.ai.
What are the most influential trends expected to drive the cloud ai market forward?
Innovative AI cloud services are a key trend gaining popularity in the cloud AI market. Major companies operating in the cloud AI market are focused on developing innovative AI cloud services to sustain their position in the market. For instance, in March 2023, NVIDIA Corporation, a US-based software company, launched DGX Cloud, a new AI supercomputing cloud service. This innovative technology solution allows businesses to run AI workloads at scale and speed and to access the latest AI technologies. It is equipped with the company’s most powerful GPUs. The service allows every company to access its own AI supercomputer using a simple online browser, which removes the hassle of buying, deploying, and operating on-premises hardware. Additionally, this cloud service includes scalability, reliability, security, and cost-effectiveness. Overall, DGX Cloud is a powerful and versatile cloud AI supercomputer service that offers several features that make it a good choice for businesses of all sizes.
What are the major regional insights for the cloud ai market, and which region holds the top position?
North America was the largest region in the cloud AI market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud AI market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does The Cloud AI Market Report 2025 Offer?
The cloud ai market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Cloud AI is utilizing artificial intelligence (AI) capabilities and technologies delivered through cloud computing platforms. It involves leveraging the cloud infrastructure’s computational power and resources to perform AI tasks. It allows businesses to access AI (artificial intelligence) and ML (machine learning) without building or maintaining their infrastructure.
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