Global Cloud Ai Market Share 2024, Forecast To 2033

8 Mar, 2024

The cloud AI market, valued at $59.49 billion in 2023, will reach $82.02 billion in 2024, with a CAGR of 37.9%. Growing computational power and big data trends contribute to this growth. Forecasts estimate growth to $301.2 billion by 2028, driven by hybrid cloud adoption and AI-powered applications, with trends like IoT integration and strategic collaborations.

Global Cloud AI Market Key Driver

The cloud AI market is witnessing growth driven by the increasing demand for virtual assistants. With a significant rise in voice assistant usage, cloud AI technologies play a crucial role in enhancing virtual assistant capabilities.

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Global Cloud AI Market Segments

The cloud ai market covered in this report is segmented –
1) Type:Solution, Service
2) Technology:Deep Learning, Machine Learning, Natural Language Processing, Other Technologies
3) End-User Vertical:Banking Financial Services And Insurance (BFSI), Healthcare, Automotive, Retail, Government, Education, Other End-User Verticals
By Geography: The countries covered in the cloud ai market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada. North America was the largest region in the cloud AI market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud ai market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Cloud AI Industry Players

Amazon Web Services Inc.; MicroStrategy Incorporated; Apple Inc.; Microsoft Corporation; Google LLC; Huawei Cloud; Intel Corporation; Accenture PLC; International Business Machines Corporation (IBM); Cisco Systems Inc.; Oracle Corporation; Salesforce Inc.; SoundHound Inc.; Tata Consultancy Services; Nvidia Corporation; Capgemini SE; Baidu Inc.; Cognizant Technology Solutions Corporation; Infosys Limited; ZTE Corp.; DXC Technology; Atos SE; HCL Technologies; Wipro Ltd.; Twilio Inc.; Nuance Communications Inc.; Verint Systems Inc.; DataRobot Inc.; H2O.ai.

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Cloud AI Market Overview

Cloud AI is utilizing artificial intelligence (AI) capabilities and technologies delivered through cloud computing platforms. It involves leveraging the cloud infrastructure's computational power and resources to perform AI tasks. It allows businesses to access AI (artificial intelligence) and ML (machine learning) without building or maintaining their infrastructure.