Cloud AI Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Cloud AI Market
The cloud AI market size was valued at USD 46.67 billion in 2022 and the market is now projected to grow from USD 60.35 billion in 2023 to USD 97.81 billion by 2030, exhibiting a CAGR of 30.9% during the forecast period of 2023-2030.
The COVID-19 pandemic has encouraged business for adoption of digitalization . The volume of data produced from various sources increased during the rapid spread of viruses around the world. Intensive shifting of various jobs towards remote working accelerated the market growth. The demand for private cloud networks increased to improve internet connectivity and security of critical data. The lockdown imposed by the government has provoked demand for online shopping and video streaming. Thus, the pandemic has created a great opportunity for the cloud AI market growth.
The cloud AI market share globally has increased because of the increasing advancements in generative AI and intelligent automation. Enterprises are taking advantage of AI and ML to update a wide range of repetitive and time-consuming data engineering and analysis responsibilities. They can simplify processes for instance data cleansing, transformations, and modeling processes, hence amplifying the desire for implementing the system.
The trend is growing concern of cybersecurity and strategic embrace of digital transformation is propelling the market growth. The three purposes of cloud-based AI solutions & services are authentication, encryption, and disaster recovery. They are gaining huge recognition among users amidst an increasingly complex cyber security threat panorama. Since hackers develop new forms of AI based attacks, the frequency and ruthlessness of data theft and breaches persist to escalate so as the demand for the service.
Comprehensive Analysis of Cloud AI Market
The cloud AI market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the information & communication technology industry. These segmentations are methodically segregated by types of component, technology, function, and end-users. The components are solutions and services, whereas the function is classified as human resources, finance, supply chain management, marketing & sales, and others. The technologies are natural language processing (NLP), deep learning, and machine learning (ML); similarly, the end-users cover BFSI, media and entertainment, IT & telecommunications, healthcare, retail and consumer goods, and others.
The North American region is conducive to the global cloud AI market, leading to a recall of USD 16.93 billion because of the existence of companies that are early users of advanced technologies across different sectors and which produces a continuous flow of talented individuals contributing to innovation on the market.
The top players in the market play a crucial role in the information & communication technology industry assuring industrial prospectus growth and setting market standards. These players include Microsoft Corporation (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Google LLC (U.S.), Alibaba Cloud (China), H2O.ai (U.S.), Salesforce, Inc. (U.S.), Tencent (China), and Dataiku (U.S.), these market players provide a level-playing competitive landscape.
In November 2023, Amazon Web Services, Inc. and NVIDIA announced the expansion of their strategic partnership to provide clients with the latest infrastructure, software, and services for generating intelligent AI innovations.
Segmentation Table
Global Cloud AI Market Scope
ATTRIBUTE DETAILS
Study Period 2017-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2017-2021
Growth Rate CAGR of 30.9% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Component
Solution
Services
By Technology
Machine Learning (ML)
Deep Learning
Natural Language Processing (NLP)
Others (Computer Vision, Data Analytics, etc.)
By Function
Finance
Marketing & Sales
Supply Chain Management
Human Resources
Others (Operations, etc.)
By End-Users
BFSI
IT and Telecommunications
Healthcare
Retail and Consumer Goods
Media and Entertainment
Others (Automotive, Education, etc.)
By Region
North America (By Component, Technology, Function, End-Users, and Country)
U.S. (By End-Users)
Canada (By End-Users)
Mexico (By End-Users)
South America (By Component, Technology, Function, End-Users, and Country)
Brazil (By End-Users)
Argentina (By End-Users)
Rest of South America
Europe (By Component, Technology, Function, End-Users, and Country)
U.K. (By End-Users)
Germany (By End-Users)
France (By End-Users)
Italy (By End-Users)
Spain (By End-Users)
Russia (By End-Users)
Benelux (By End-Users)
Nordics (By End-Users)
Rest of Europe
Middle East & Africa (By Component, Technology, Function, End-Users, and Country)
Turkey (By End-Users)
Israel (By End-Users)
GCC (By End-Users)
North Africa (By End-Users)
South Africa (By End-Users)
Rest of the Middle East & Africa
Asia Pacific (By Component, Technology, Function, End-Users, and Country)
China (By End-Users)
Japan (By End-Users)
India (By End-Users)
South Korea (By End-Users)
ASEAN (By End-Users)
Oceania (By End-Users)
Rest of Asia Pacific
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- 1. Introduction
- 1.1. Definition, By Segment
- 1.2. Research Methodology/Approach
- 1.3. Data Sources
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Macro and Micro Economic Indicators
- 3.2. Drivers, Restraints, Opportunities and Trends
- 3.3. Impact of COVID-19
- 4. Competition Landscape
- 4.1. Business Strategies Adopted by Key Players
- 4.2. Consolidated SWOT Analysis of Key Players
- 4.3. Cloud AI Key Players Market Share/Ranking, 2022
- 5. Global Cloud AI Market Size Estimates and Forecasts, By Segments, 2017-2030
- 5.1. Key Findings
- 5.2. By Component (USD)
- 5.2.1. Solution
- 5.2.2. Services
- 5.3. By Technology (USD)
- 5.3.1. Machine Learning (ML)
- 5.3.2. Deep Learning
- 5.3.3. Natural Language Processing (NLP)
- 5.3.4. Others (Computer Vision, Data Analytics, etc.)
- 5.4. By Function (USD)
- 5.4.1. Finance
- 5.4.2. Marketing & Sales
- 5.4.3. Supply Chain Management
- 5.4.4. Human Resources
- 5.4.5. Others (Operations, etc.)
- 5.5. By End-Users (USD)
- 5.5.1. BFSI
- 5.5.2. IT and Telecommunications
- 5.5.3. Healthcare
- 5.5.4. Retail and Consumer Goods
- 5.5.5. Media and Entertainment
- 5.5.6. Others (Automotive, Education, etc.)
- 5.6. By Region (USD)
- 5.6.1. North America
- 5.6.2. South America
- 5.6.3. Europe
- 5.6.4. Middle East & Africa
- 5.6.5. Asia Pacific
- 6. North America Cloud AI Market Size Estimates and Forecasts, By Segments, 2017-2030
- 6.1. Key Findings
- 6.2. By Component (USD)
- 6.2.1. Solution
- 6.2.2. Services
- 6.3. By Technology (USD)
- 6.3.1. Machine Learning (ML)
- 6.3.2. Deep Learning
- 6.3.3. Natural Language Processing (NLP)
- 6.3.4. Others (Computer Vision, Data Analytics, etc.)
- 6.4. By Function (USD)
- 6.4.1. Finance
- 6.4.2. Marketing & Sales
- 6.4.3. Supply Chain Management
- 6.4.4. Human Resources
- 6.4.5. Others (Operations, etc.)
- 6.5. By End-Users (USD)
- 6.5.1. BFSI
- 6.5.2. IT and Telecommunications
- 6.5.3. Healthcare
- 6.5.4. Retail and Consumer Goods
- 6.5.5. Media and Entertainment
- 6.5.6. Others (Automotive, Education, etc.)
- 6.6. By Country (USD)
- 6.6.1. U.S.
- 6.6.1.1. By End-Users
- 6.6.2. Canada
- 6.6.2.1. By End-Users
- 6.6.3. Mexico
- 6.6.3.1. By End-Users
- 7. South America Cloud AI Market Size Estimates and Forecasts, By Segments, 2017-2030
- 7.1. Key Findings
- 7.2. By Component (USD)
- 7.2.1. Solution
- 7.2.2. Services
- 7.3. By Technology (USD)
- 7.3.1. Machine Learning (ML)
- 7.3.2. Deep Learning
- 7.3.3. Natural Language Processing (NLP)
- 7.3.4. Others (Computer Vision, Data Analytics, etc.)
- 7.4. By Function (USD)
- 7.4.1. Finance
- 7.4.2. Marketing & Sales
- 7.4.3. Supply Chain Management
- 7.4.4. Human Resources
- 7.4.5. Others (Operations, etc.)
- 7.5. By End-Users (USD)
- 7.5.1. BFSI
- 7.5.2. IT and Telecommunications
- 7.5.3. Healthcare
- 7.5.4. Retail and Consumer Goods
- 7.5.5. Media and Entertainment
- 7.5.6. Others (Automotive, Education, etc.)
- 7.6. By Country (USD)
- 7.6.1. Brazil
- 7.6.1.1. By End-Users
- 7.6.2. Argentina
- 7.6.2.1. By End-Users
- 7.6.3. Rest of South America
- 8. Europe Cloud AI Market Size Estimates and Forecasts, By Segments, 2017-2030
- 8.1. Key Findings
- 8.2. By Component (USD)
- 8.2.1. Solution
- 8.2.2. Services
- 8.3. By Technology (USD)
- 8.3.1. Machine Learning (ML)
- 8.3.2. Deep Learning
- 8.3.3. Natural Language Processing (NLP)
- 8.3.4. Others (Computer Vision, Data Analytics, etc.)
- 8.4. By Function (USD)
- 8.4.1. Finance
- 8.4.2. Marketing & Sales
- 8.4.3. Supply Chain Management
- 8.4.4. Human Resources
- 8.4.5. Others (Operations, etc.)
- 8.5. By End-Users (USD)
- 8.5.1. BFSI
- 8.5.2. IT and Telecommunications
- 8.5.3. Healthcare
- 8.5.4. Retail and Consumer Goods
- 8.5.5. Media and Entertainment
- 8.5.6. Others (Automotive, Education, etc.)
- 8.6. By Country (USD)
- 8.6.1. U.K.
- 8.6.1.1. By End-Users
- 8.6.2. Germany
- 8.6.2.1. By End-Users
- 8.6.3. France
- 8.6.3.1. By End-Users
- 8.6.4. Italy
- 8.6.4.1. By End-Users
- 8.6.5. Spain
- 8.6.5.1. By End-Users
- 8.6.6. Russia
- 8.6.6.1. By End-Users
- 8.6.7. Benelux
- 8.6.7.1. By End-Users
- 8.6.8. Nordics
- 8.6.8.1. By End-Users
- 8.6.9. Rest of Europe
- 9. Middle East & Africa Cloud AI Market Size Estimates and Forecasts, By Segments, 2017-2030
- 9.1. Key Findings
- 9.2. By Component (USD)
- 9.2.1. Solution
- 9.2.2. Services
- 9.3. By Technology (USD)
- 9.3.1. Machine Learning (ML)
- 9.3.2. Deep Learning
- 9.3.3. Natural Language Processing (NLP)
- 9.3.4. Others (Computer Vision, Data Analytics, etc.)
- 9.4. By Function (USD)
- 9.4.1. Finance
- 9.4.2. Marketing & Sales
- 9.4.3. Supply Chain Management
- 9.4.4. Human Resources
- 9.4.5. Others (Operations, etc.)
- 9.5. By End-Users (USD)
- 9.5.1. BFSI
- 9.5.2. IT and Telecommunications
- 9.5.3. Healthcare
- 9.5.4. Retail and Consumer Goods
- 9.5.5. Media and Entertainment
- 9.5.6. Others (Automotive, Education, etc.)
- 9.6. By Country (USD)
- 9.6.1. Turkey
- 9.6.1.1. By End-Users
- 9.6.2. Israel
- 9.6.2.1. By End-Users
- 9.6.3. GCC
- 9.6.3.1. By End-Users
- 9.6.4. North Africa
- 9.6.4.1. By End-Users
- 9.6.5. South Africa
- 9.6.5.1. By End-Users
- 9.6.6. Rest of Middle East & Africa
- 10. Asia Pacific Cloud AI Market Size Estimates and Forecasts, By Segments, 2017-2030
- 10.1. Key Findings
- 10.2. By Component (USD)
- 10.2.1. Solution
- 10.2.2. Services
- 10.3. By Technology (USD)
- 10.3.1. Machine Learning (ML)
- 10.3.2. Deep Learning
- 10.3.3. Natural Language Processing (NLP)
- 10.3.4. Others (Computer Vision, Data Analytics, etc.)
- 10.4. By Function (USD)
- 10.4.1. Finance
- 10.4.2. Marketing & Sales
- 10.4.3. Supply Chain Management
- 10.4.4. Human Resources
- 10.4.5. Others (Operations, etc.)
- 10.5. By End-Users (USD)
- 10.5.1. BFSI
- 10.5.2. IT and Telecommunications
- 10.5.3. Healthcare
- 10.5.4. Retail and Consumer Goods
- 10.5.5. Media and Entertainment
- 10.5.6. Others (Automotive, Education, etc.)
- 10.6. By Country (USD)
- 10.6.1. China
- 10.6.1.1. By End-Users
- 10.6.2. Japan
- 10.6.2.1. By End-Users
- 10.6.3. India
- 10.6.3.1. By End-Users
- 10.6.4. South Korea
- 10.6.4.1. By End-Users
- 10.6.5. ASEAN
- 10.6.5.1. By End-Users
- 10.6.6. Oceania
- 10.6.6.1. By End-Users
- 10.6.7. Rest of Asia Pacific
- 11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
- 11.1. Microsoft Corporation
- 11.1.1. Overview
- 11.1.1.1. Key Management
- 11.1.1.2. Headquarters
- 11.1.1.3. Offerings/Business Segments
- 11.1.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.1.2.1. Employee Size
- 11.1.2.2. Past and Current Revenue
- 11.1.2.3. Geographical Share
- 11.1.2.4. Business Segment Share
- 11.1.2.5. Recent Developments
- 11.2. Amazon Web Services, Inc.
- 11.2.1. Overview
- 11.2.1.1. Key Management
- 11.2.1.2. Headquarters
- 11.2.1.3. Offerings/Business Segments
- 11.2.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.2.2.1. Employee Size
- 11.2.2.2. Past and Current Revenue
- 11.2.2.3. Geographical Share
- 11.2.2.4. Business Segment Share
- 11.2.2.5. Recent Developments
- 11.3. Google LLC
- 11.3.1. Overview
- 11.3.1.1. Key Management
- 11.3.1.2. Headquarters
- 11.3.1.3. Offerings/Business Segments
- 11.3.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.3.2.1. Employee Size
- 11.3.2.2. Past and Current Revenue
- 11.3.2.3. Geographical Share
- 11.3.2.4. Business Segment Share
- 11.3.2.5. Recent Developments
- 11.4. IBM Corporation
- 11.4.1. Overview
- 11.4.1.1. Key Management
- 11.4.1.2. Headquarters
- 11.4.1.3. Offerings/Business Segments
- 11.4.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.4.2.1. Employee Size
- 11.4.2.2. Past and Current Revenue
- 11.4.2.3. Geographical Share
- 11.4.2.4. Business Segment Share
- 11.4.2.5. Recent Developments
- 11.5. Oracle Corporation
- 11.5.1. Overview
- 11.5.1.1. Key Management
- 11.5.1.2. Headquarters
- 11.5.1.3. Offerings/Business Segments
- 11.5.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.5.2.1. Employee Size
- 11.5.2.2. Past and Current Revenue
- 11.5.2.3. Geographical Share
- 11.5.2.4. Business Segment Share
- 11.5.2.5. Recent Developments
- 11.6. Alibaba Cloud
- 11.6.1. Overview
- 11.6.1.1. Key Management
- 11.6.1.2. Headquarters
- 11.6.1.3. Offerings/Business Segments
- 11.6.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.6.2.1. Employee Size
- 11.6.2.2. Past and Current Revenue
- 11.6.2.3. Geographical Share
- 11.6.2.4. Business Segment Share
- 11.6.2.5. Recent Developments
- 11.7. H2O.ai
- 11.7.1. Overview
- 11.7.1.1. Key Management
- 11.7.1.2. Headquarters
- 11.7.1.3. Offerings/Business Segments
- 11.7.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.7.2.1. Employee Size
- 11.7.2.2. Past and Current Revenue
- 11.7.2.3. Geographical Share
- 11.7.2.4. Business Segment Share
- 11.7.2.5. Recent Developments
- 11.8. Salesforce, Inc.
- 11.8.1. Overview
- 11.8.1.1. Key Management
- 11.8.1.2. Headquarters
- 11.8.1.3. Offerings/Business Segments
- 11.8.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.8.2.1. Employee Size
- 11.8.2.2. Past and Current Revenue
- 11.8.2.3. Geographical Share
- 11.8.2.4. Business Segment Share
- 11.8.2.5. Recent Developments
- 11.9. Tencent
- 11.9.1. Overview
- 11.9.1.1. Key Management
- 11.9.1.2. Headquarters
- 11.9.1.3. Offerings/Business Segments
- 11.9.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.9.2.1. Employee Size
- 11.9.2.2. Past and Current Revenue
- 11.9.2.3. Geographical Share
- 11.9.2.4. Business Segment Share
- 11.9.2.5. Recent Developments
- 11.10. Dataiku
- 11.10.1. Overview
- 11.10.1.1. Key Management
- 11.10.1.2. Headquarters
- 11.10.1.3. Offerings/Business Segments
- 11.10.2. Key Details (Key details are consolidated data and not product/service specific)
- 11.10.2.1. Employee Size
- 11.10.2.2. Past and Current Revenue
- 11.10.2.3. Geographical Share
- 11.10.2.4. Business Segment Share
- 11.10.2.5. Recent Developments
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