AI Platform Cloud Service: Introduction
- AI platform cloud service is the integration of AI software services using the cloud infrastructure for building, deploying, and managing AI solutions with the help of machine learning and intelligence in order to deliver optimized workflows
- AI platform cloud services enable organization to automate operations and assist in decision-making using AI in order to enhance efficiency
- AI platform cloud services also empower organizations to reduce the IT on-premise infrastructure investment and provide reliable operational environment with better security
- Increasing demand for cloud computing, collaboration efficiency, flexible work practices, and scalability are anticipated to boost the AI platform cloud service market during the forecast period.
- Rise in need for virtualization, analytics and easy outsourcing of services from third-party vendors from various end-user industries is anticipated to drive the AI platform cloud service market across the globe
Global AI Platform Cloud Service Market: Dynamics
Global AI Platform Cloud Service Market: Key Drivers
- Increase in demand for services that can provide scalability, flexibility, and effective collaboration is a key factor driving the AI platform cloud service market across the globe
- AI platform cloud services provide easy access to AI-driven information using cloud, which is gaining traction from developers and data scientist in order to manage crucial data insight and take informative decisions. This is projected to drive the market during the forecast period.
- Enterprises are focused on reduction of on-premise infrastructure cost and investing in solutions that provide flexible operational capabilities. This, in turn, is projected to fuel the AI platform cloud service market in the next few years.
- Implementation of Industry 4.0 is becoming a key focus area for many industries, which is expected to create new opportunities for the AI platform cloud service market during the forecast period
- However, less awareness about the key benefits of AI, concerns about third-party access to the crucial data in organization, and lack of expertise to manage AI services in organizations are major factors restraining the AI platform cloud service market
Impact of COVID-19 on Global AI Platform Cloud Service Market
- The COVID-19 pandemic has resulted into economic slowdown across the globe. However, IT industries that have witnessed significant expansion during COVID-19 accounted for an increase in demand for better connectivity and rise in data consumption. Industries such as healthcare, telecommunication, and financial sectors are focused on outsourcing services for optimized performance and cost-effective operations, which in turn is anticipated to drive the AI platform cloud service market. AI platform cloud services integrated with data science have the potential of leveraging various cloud services to enable the financial operations with effective automation in operations, which can be used to empower several end-use industries.
North America to Hold a Major Share of Global AI Platform Cloud Service Market
- In terms of region, the global AI platform cloud service market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- North America dominated the AI platform cloud service market owing to heavy investment by key market players in the region. Major companies operating in the market are expanding new potential opportunities in the U.S. to gain larger market share.
- Europe held significant share of the AI platform cloud service market in 2020 owing to increase in demand for cloud service to optimize data science operations by providing easy data analytics solution deployment
- The AI platform cloud service market in Asia Pacific is anticipated to gain market share in terms of revenue in the next few years owing to expansion of the IT sector in countries such as China, India, and Japan
Global AI Platform Cloud Service Market: Competition Landscape
AI platform cloud service market is highly competitive with several global players competing with each other. Key market players are focused on mergers, acquisitions, partnerships, and product portfolio expansion as key strategy. In May 2021, IBM launched innovative AI and hybrid cloud solution which can be used by users for smart work ecosystems. End-user industries such as automotive, IT, healthcare, etc., are focusing on data-driven decision-making, which in turn is anticipated to drive revenues for key market players operating in the AI platform cloud service market.
Key players operating in global AI platform cloud service market include:
- Amazon Web Services
- Baidu Inc.
- Cloudera Inc.
- Google LLC
- Informatica LLC
- Infosys Limited
- Microsoft Corporation
- Oracle Corporation
- Wipro Limited
Global AI Platform Cloud Service Market: Research Scope
Global AI Platform Cloud Service Market, by Type
Global AI Platform Cloud Service Market, by Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Global AI Platform Cloud Service Market, by End-user
- Manufacturing Healthcare
- IT & Telecom
Global AI Platform Cloud Service Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.