NEW YORK, April 12, 2022 /PRNewswire/ — The global cloud AI market size is expected to increase by USD 10.22 billion between 2021 and 2026. Technavio anticipates the market to observe a YOY growth of 20.26% in 2022 and the growth momentum is expected to accelerate at a CAGR of 21.02% during the forecast period. The report identifies the market to observe significant growth in the software segment. In terms of geography, North America will have the largest share of the market.
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The market is driven by factors such as the emergence of technologically advanced devices, increasing digitization in the healthcare industry, and increasing digital transformation. However, challenges from open-source platforms, the high implementation and operating costs, and cybersecurity-related threats will hamper the market growth.
Cloud AI Market: Component Landscape
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By component, the market is analyzed across software and services segments.
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The software segment generated the maximum revenue in the market in 2021.
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The cost-effectiveness of cloud-based software is driving the growth of the segment.
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The market growth in the software segment will be significant over the forecast period.
Cloud AI Market: Geographic Landscape
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By geography, the market is analyzed across North America, Europe, APAC, South America, and the Middle East and Africa.
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North America will emerge as the key market for vendors as the region is an early adopter of advanced technologies across all industries.
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The presence of a technologically mature industrial sector, strong existence and penetration of the top vendors, and the rapid adoption of AI in industries, including retail, manufacturing, and automotive are driving the growth of the cloud AI market in North America.
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The US will be the key market for cloud AI in North America.
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Companies Covered:
The global cloud AI market is highly fragmented due to the presence of many global and international players. The market is highly competitive, and new entrants are trying to establish their footprints. Vendors are continuously focusing on enhancing the technological features to strengthen their presence in the market, which is helping them increase their revenue shares. This is likely to result in new project launches during the forecast period and further intensify the competition in the market. Technavio identifies the following as the dominant players in the market.
What our reports offer:
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Market share assessments for the regional and country-level segments
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Strategic recommendations for the new entrants
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Covers market data for 2021, 2022, until 2026
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Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
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Strategic recommendations in key business segments based on the market estimations
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Competitive landscaping mapping the key common trends
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Company profiling with detailed strategies, financials, and recent developments
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Supply chain trends mapping the latest technological advancements
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Cloud AI Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 21.02% |
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Market growth 2022-2026 |
USD 10.22 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
20.26 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 51% |
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Key consumer countries |
US, China, Japan, UK, and Germany |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Amazon.com Inc., AIBrain Inc., Alphabet Inc., Baidu Inc., Cisco Systems Inc., H2O.ai Inc., Informatica LLC, Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., Nuance Communications Inc., NVIDIA Corp., Oracle Corp., Salesforce.com Inc., SoundHound Inc., Verint Systems Inc., VMware Inc., Wipro Ltd., and ZTE Corp. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Component
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
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SOURCE Technavio