AI development service Market: Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

 

AI service offers several benefits to an organization over traditional approach such as it provides advanced infrastructure at minimal cost, transparency in business operations, and scalability.

 

Description

Global AI development service Market: by Component (Software Tool and Services), by Technology (Machine Learning and Deep Learning and Natural Language Processing), by Verticals (BSFI, Retail, Government and Defense, Energy, Telecommunications, Manufacturing, Healthcare and Life Sciences, and Others), and by Region – Global Industry Sizing, Growth, Trend, Opportunity, and Forecast (2020–2025)

The AI development service market report covers a thorough analysis of the market dynamics, business models, segmental/regional analysis, and respective market shares and strategies adopted by the key market players operating globally. It entails an in-depth analysis of the factors influencing the global market and market statistics indicating region wise and segment-wise market share/growth analysis. The report's study will outlook one of the most exhaustive analyses of the market, capturing all the aspects of the AI development service market

 

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AI Development Service Market Introduction

The AI development service market size is USD XX billion in 2019 and is expected to register a CAGR of 14.5% during the forecast period, 2020-2025. AI development service can be defined as the outsourcing of artificial intelligence-enabled technology and solutions by a company. AI service offers several benefits to an organization over a traditional approach such as it provides advanced infrastructure at minimal cost, transparency in business operations, and scalability.

Factors Affecting the AI Development Service Industry Over the Forecast

• The increasing demand for AI development services in the form of Application Programming Interface (API) and Software Development Kit (SDK) and the rising number of innovative startups are some of the key factors that are projected to drive the AI development service market
• The BFSI vertical is probably to widen the implementation of AI. It is already using the technology for chatbots, trading decisions, and credit scoring applications studying financial market impact analysis. Further, technology has extremely well-proven efficiency in detecting fraudulent activities. This is estimated to create a lucrative growth opportunity for the market
• Data security issues and lack of technical expertise are some of the key factors restraining AI development services market growth during the forecast period

Impact of COVID-19 on AI Development Service Market:

The outbreak of the COVID-19 has boosted the AI development services in the healthcare sector to enhance accuracy and efficiency in treatment, diagnostics, and predictions. With a large amount of data available in electronic healthcare records, AI can predict patient outcomes. AI helps in driving and mining virus strain and utilizing it in enhancing and scaling the testing devices. Thus, the AI development services market is probably to witness significant growth.

 

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Scope of the Report

The report outlines the global AI development service market study based on service, technology, and verticles.

Based on the component, the AI development service market has been segmented into –

• Software Tool
• Services

Based on the technology, the AI development service market has been segmented into –

• Machine Learning and Deep Learning
• Natural Language Processing

Based on the verticals, the AI development service market has been segmented into –

• BSFI
• Retail
• Government and Defense
• Energy
• Telecommunications
• Manufacturing
• Healthcare
• Life Sciences
• Others

AI Development Service Market: Regional Outlook

The global AI development service market is regionally segmented into North America, Asia Pacific, Europe, South America, and the Middle East and Africa. North America is expected to dominate the global AI development service market over the forecast period due to government initiative to encourage the adoption of AI in various verticals is boosting the market growth in the region. Moreover, Asia Pacific is anticipated to witness the fastest CAGR growth in the global market during the review period.

Key Global AI Development Service Market Competitors Includes –

The global AI development service market is highly fragmented, with the presence of a large number of small players across the globe. The vital AI development service manufacturers operating in the global market are –

 

• International Business Machine Corporation
• Google
• Salesforce
• SAP SE
• Amazon Web Service, Inc.
• Fair Isaac Corporation
• Advanced Micro Devices
• Ayasdi AI LLC

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