Global AI development service Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider AI development service market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global AI development service market size was US$ 31.1 billion in 2021. The global AI development service market is forecast to grow to US$ 705.1 billion by 2030, registering a compound annual growth rate (CAGR) of 36.5 during the forecast period from 2022 to 2030.
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Factors Influencing the Market
The trending use of multi-cloud functioning is driving the growth of the industry. In addition, the rising demand for cloud-based intelligence services will propel the market growth during the forecast period. IBM estimates that around 98% of the organization’s plan will adopt multi-cloud architectures by 2021.
Companies are focusing on integrating artificial intelligence (AI) technology into their applications, businesses, analytics, and services in order to expand the business and make the task easy for employees. Thus, it will benefit the AI development service market. Furthermore, AI development services will also help businesses cut operating costs in order to enhance profit margins. All of this will contribute to the growth of the global AI development service market.
Many government bodies, particularly in emerging economies, are investing highly due to the benefits of AI. In India, the Digital India initiative is expected to offer ample growth opportunities for the market. In addition, the firms are creating services for testing AI-based applications. In April 2019, Google Cloud Platform launched the AI Platform, a new end-to-end environment for teams to test, train, and deploy models. As a result, it will offer ample growth opportunities for the global AI development service market.
Impact of COVID-19 on AI Development Service Market
The sudden onset of COVID-19 has surged the growth of AI development services in the healthcare sector. AI development services are used to improve treatment and enhance accuracy and efficiency. AI can predict patient outcomes using a significant quantity of data available in electronic healthcare records. All of these factors are significantly contributing to the growth of the global AI development service industry.
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Regional Analysis
The Asia-Pacific AI development service market is forecast to hold dominance during the study period. The growth of the region is attributed to the rising number of investments in artificial intelligence. In addition, the presence of top tech giants in the region is forecast to benefit the Asia-Pacific AI development service market. Furthermore, emerging countries, such as India and Taiwan, are witnessing an increasing adoption of new AI-based services or models. As a result, it will further expand the potential scope of the studied market.
Competitors in the Market
- International Business Machine Corporation
- Salesforce
- SAP SE
- Amazon Web Service, Inc.
- Fair Isaac Corporation
- Advanced Micro Devices
- Ayasdi AI LLC
- IBM Watson Health
- Zebra Medical Vision, Inc.
- Intel Corporation
- Enlitic, Inc.
- Baidu, Inc.
- Cyrcadia Health
- Atomwise, Inc.
- Other prominent players
Market Segmentation
The global AI development service market segmentation focuses on Deployment, Organization, End-User, and Region.
Deployment
- Public
- Private
- Hybrid
Organization Size
- Small and Medium Enterprise
- Large Enterprise
End-user Industry
- BFSI
- Retail
- Healthcare
- IT and Telecom
- Manufacturing
- Energy
- Other End-user Industries
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Based on region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
What is the goal of the report?
1.The market report presents the estimated size of the market at the end of the forecast period. The report also examines historical and current market sizes.
2.During the forecast period, the report analyzes the growth rate, market size, and market valuation.
The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
3.The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.
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