LAMEA 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 Latin America, Middle East and Africa AI as a Service Market would witness market growth of 45.1% CAGR during the forecast period (2023-2029).
AIaaS is usually outsourced to a third-party vendor. The majority of intelligence suppliers, whether software developers, consultants, or firms offering professional services, offer such services themselves or work with organizations that can offer a wide range of comprehensive offerings for supporting a large-scale AI solution. Due to the extensive usage of big data and cloud-based applications and services, the market is growing quickly.
Recent technological developments, the high demand for AI-powered services like Software Development Kit (SDK) and Application Programming Interface (API), a rise in the number of inventive startups, and sizeable investments in industrial automation are all expected to contribute to the growth of the market. In addition, the growing demand for intelligent applications for business and the high demand for AI service integrators would also be very beneficial for the market. AI services have been aggressively adopted as a significant component of technology by businesses like IBM, Microsoft, Google, and other top players.
Due to the UAE's plans to establish a 5G and IoT open lab, a successful 5G and IoT ecosystem is being established in the region. Furthermore, to promote innovation and aid in the regional expansion of the ICT industry, the lab promotes collaboration among ecosystem actors. The 5G network will encourage the development of new use cases specific to particular business sectors together with increased capacity. Instead of the consumer industry, the B2B sector is expected to provide the majority of 5G revenue. Due to the increasing use of 5G, IoT, AI, and ML, this region is anticipated to significantly enhance AI in the telecom sector, which will support the growth of the overall market.
The Brazil market dominated the LAMEA 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 $1,364.5 million by 2029. The Argentina market is experiencing a CAGR of 45.9% during (2023 - 2029). Additionally, The UAE market would showcase a CAGR of 44.7% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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
- Saudi Arabia
- South Africa
- Rest of LAMEA
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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