Europe AI as a Service Market Size, Share & Industry Trends Analysis Report By Organization Size, By Offering, By Technology, By Cloud Type (Public Cloud, Private Cloud and Hybrid Cloud), By Vertical, By Country and Growth Forecast, 2023 - 2029
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Market Report Description
The Europe AI as a Service Market would witness market growth of 40.4% CAGR during the forecast period (2023-2029).
AIaaS that are often used include chatbots and digital support, machine learning frameworks, cognitive computing APIs, and fully managed machine learning services. Natural language processing (NLP) algorithms are used by chatbots and other digital support tools to learn from discussions with people and mimic their language patterns when responding. Employees in customer service are freed to concentrate on more challenging jobs as a result. As a result, these AIaaS models are now the most popular.
Application programming interfaces, or APIs, are a means by which services can communicate with one another. Without starting from scratch, APIs enable developers to include a specific service or technology in the application they are creating. NLP, computer vision and speech, emotion detection, knowledge mapping, and search are examples of popular APIs.
The creation of platforms that provide services to organizations and companies (business-to-business (B2B), business-to-customers (B2C)), applications to progress towards intelligent enterprise, and e-government have all been significantly influenced by the Europe region. The framework initiative for research and innovation is helping the European Commission increase its investments in artificial intelligence. In addition, the Commission will support and finance basic and applied research into artificial technologies. There will be a rise in demand for AI technology in the areas where more people adopt and spend money on technology. Hence, the market will expand rapidly owing to the widespread use and demand for such tools.
The Germany market dominated the Europe AI as a Service Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $5,366.9 million by 2029. The UK market is anticipated to grow at a CAGR of 39.2% during (2023 - 2029). Additionally, The France market would exhibit a CAGR of 41.5% during (2023 - 2029).
Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium-Sized Enterprises. Based on Offering, the market is segmented into Infrastructure as a Service, Platform as a Service and Software as a Service. Based on Technology, the market is segmented into Machine Learning, Natural Language Processing, Context Awareness and Computer Vision. Based on Cloud Type, the market is segmented into Public Cloud, Private Cloud and Hybrid Cloud. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Retail & eCommerce, Manufacturing, Healthcare & Life Sciences, Government & Defense, Government & Defense and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Microsoft Corporation, Amazon Web Services, Inc. (Amazon.com, Inc.), Oracle Corporation, Google LLC (Alphabet Inc.), Fair Isaac Corporation (FICO), Baidu, Inc., SAS Institute, Inc., SAP SE and Salesforce, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Organization Size
- Large Enterprises
- Small & Medium-Sized Enterprises
- Infrastructure as a Service
- Platform as a Service
- Software as a Service
- Machine Learning
- Natural Language Processing
- Context Awareness
- Computer Vision
By Cloud Type
- Public Cloud
- Private Cloud
- Hybrid Cloud
- IT & Telecom
- Retail & eCommerce
- Healthcare & Life Sciences
- Government & Defense
- Energy & Utilities
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- IBM Corporation
- Microsoft Corporation
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Oracle Corporation
- Google LLC (Alphabet Inc.)
- Fair Isaac Corporation (FICO)
- Baidu, Inc.
- SAS Institute, Inc.
- SAP SE
- Salesforce, Inc.
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