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AI development service Market Scope and overview, Estimates & Forecast, By Application, segments 2022?2030

AI development service Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the AI development service Market by region.

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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.

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

Google

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?
•The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
•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.
•The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance.

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