Pune, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Cloud AI Market Size Analysis:
"The SNS Insider report indicates that the Cloud AI Market size was valued at USD 59.6 billion in 2023 and is estimated to reach USD 847.8 billion by 2032, growing at a CAGR of 34.34% during the forecast period. The increasing adoption of AI-powered cloud solutions for enhanced efficiency, real-time analytics, and automation is driving market expansion."
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Major Players Analysis Listed in this Report are:
- Amazon Web Services (AWS) - Amazon SageMaker
- Microsoft - Azure AI
- Google - Google Cloud AI
- IBM - IBM Watson
- Oracle - Oracle Cloud AI
- Salesforce - Salesforce Einstein
- NVIDIA - NVIDIA AI
- Alibaba Cloud - Alibaba Cloud Machine Learning Platform for AI
- SAP - SAP Leonardo
- Intel - Intel AI Solutions
- Accenture - Accenture AI
- Hewlett Packard Enterprise (HPE) - HPE AI
- C3.ai - C3 AI Suite
- Palo Alto Networks - Cortex AI
- Zoho - Zoho AI
- Huawei - Huawei Cloud AI
- Baidu - Baidu AI Cloud
- SAP - SAP Data Intelligence
- Tencent Cloud - Tencent AI Lab
- ThoughtSpot - ThoughtSpot AI
Cloud AI Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 59.6 billion |
| Market Size by 2032 | USD 847.8 Billion |
| CAGR | CAGR of 34.34% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe [Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]). Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
| Key Growth Drivers | • The availability of scalable, on-demand AI capabilities democratizes access to advanced technologies without large infrastructure investments • AI adoption for automation improves productivity by up to 40%, making processes faster and more efficient. • Continuous innovation in AI algorithms and cloud infrastructure enhances the market's capabilities and adoption. |
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By Technology – Deep Learning Dominates, Machine Learning Registers Fastest CAGR
The deep learning segment dominated the Market and accounted for 38.78% of revenue share in 2023, As the technology behind the most complicated AI models for image recognition, speech, and autonomous systems. From healthcare to financial to automotive to smart city, deep learning-based Cloud AI solutions are leveraged in the real world. Deep learning remains one of the largest growth drivers of the AI market, as we see investments taking place in AI research and various neural networks.
Machine Learning is projected to grow with the fastest CAGR during the forecast period, owing to its rising utilization in predictive analytics, customer insights, fraud detection, and recommendation systems. Businesses utilize cloud AI models powered by machine learning for process automation, more efficient decision-making, and better resource management. Nothing is putting the foot down on machine learning acceleration more than a rise in AI-as-a-Service (AIaaS).
By Type – Solution Dominates, Services Registers Fastest CAGR
The Solution segment dominated the market and accounted for 65.7% in 2023, owing to the adoption of AI-enabled cloud platforms within the enterprises to perform automation, data analytics, and techno-economic analysis in real time. Organizations leverage existing cloud infrastructure based on Key Strengths of AI-Powered Solutions, in terms of scalability, security, and operational efficiency.
The Services segment is expected to have the fastest CAGR due to increased productivity in the area of AI consulting, deployment, and integration. Custom AI model training, cloud migration assistance, and ongoing optimization are just a few of the areas in which businesses need help, driving demand for specialized AI services.
By Vertical – BFSI Leads, Healthcare Registers Fastest Growth
The banking, Financial Services, and Insurance (BFSI) vertical dominated the Cloud AI Market and accounted for a significant revenue share in 2023, as the AI-powered cloud solutions are gaining traction for fraud detection, risk assessment, and customer service automation. Increased implementation of AI-based chatbots, predictive analytics, and algorithmic trading solutions by financial institutions leads to improvement in efficiency as well as increased security while reducing risks.
The Healthcare segment is expected to register the fastest CAGR during the forecast period, Due to the growing use of AI-based cloud platforms for diagnostics, medical imaging, and personalized treatment. The healthcare ecosystem is transforming with Cloud AI facilitating solutions including real-time patient monitoring, AI-driven drug discovery, as well as telemedicine.
Cloud AI Market Segmentation:
By Technology
- Deep Learning
- Machine Learning
- Natural Language Processing
- Others
By Type
- Solution
- Services
By Vertical
- Healthcare
- Retail
- BFSI
- IT & Telecommunication
- Government
- Manufacturing
- Automotive & Transportation
- Others
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Key Regional Developments - North America Dominates the Market, Asia-Pacific Registers the Fastest CAGR
North America dominated the Cloud AI Market due to the early adoption of AI technologies, established cloud infrastructure, and heavy investment in AI research. BFSI, healthcare, and manufacturing sectors see large AI-enabled cloud deployments in North America, particularly in the US and Canada. Amazon, Microsoft, and Google among others will continue to dominate the regional AI cloud ecosystem.
The Asia-Pacific is expected to register the fastest CAGR during the forecast period, driven by rapid digital transformation activities across the region, increasing AI investments, and increasing cloud adoption. China, India, and Japan are some of the contenders generating AI cloud applications in e-commerce, telecom, and smart cities. Moreover, the emergence of AI startups and initiatives by government institutions in AI are fuelling regional market growth even further.
Recent Developments in the Cloud AI Market
- January 2024 – Google Cloud introduced Vertex AI Search and Vertex AI Conversation, enhancing enterprise AI adoption with powerful cloud-based solutions.
- March 2024 – Microsoft Azure AI expanded its generative AI capabilities, strengthening cloud AI integration for businesses.
- May 2024 – Amazon Web Services (AWS) launched new AI-powered tools to enhance cloud security and automated threat detection.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Cloud AI Market Segmentation, By Technology
8. Cloud AI Market Segmentation, by Type
9. Cloud AI Market Segmentation, by Vertical
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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