The global cloud artificial intelligence market revenue was around US$ 57.9 billion in 2023 and is estimated to reach US$ 887 billion by 2032, growing at a compound annual growth rate (CAGR) of 35.8% during the forecast period from 2024 to 2032.

Cloud artificial intelligence offers technology for every phase of the AI lifecycle, including developing models, features, and applications, maintaining and running them, and giving them inside the organization. Artificial intelligence platforms are a category of technologies that help all parts of the AI lifecycle.

Factors Influencing Market Growth

- The growing availability of cloud-based AI services and the rising usage of mobile devices are the factors propelling the growth of the global cloud artificial intelligence market.

- There is a surge in technological improvements, which in turn is anticipated to offer numerous opportunities for the growth of the cloud artificial intelligence market.

- Data security and privacy concerns and budget and cost limitations hinder the growth of the cloud artificial intelligence market.

- The rise in the integration of Industry 4.0, creates opportunities for cloud artificial intelligence solutions to optimize business functions.

Impact of COVID-19

The impact of the COVID-19 pandemic had a positive influence on the global cloud artificial intelligence market. This is due to the market seeing a sudden rise in demand during the pandemic. This was attributed to the fact that there was an upsurge in demand for healthcare services, as businesses were driving to capitalize on augmented digitalization and automation in the healthcare sector.

Also, the increase in COVID-19 cases caused local and government authorities to implement stringent measures like self-isolation and social distancing policies to the closing of physical businesses and shops.

Regional Analysis

In 2023, North America dominated the global cloud artificial intelligence market in terms of revenue. This is due to the rise in investment in cutting-edge technologies like ML, cloud-based services, AI, business analytics solutions, and IoT to enhance the customer and the business experience are expected to drive the growth of the cloud artificial intelligence market.

Also, Asia-Pacific is anticipated to show the highest growth during the forecast period. This is attributed to the rise in penetration of digitalization and the higher adoption of cutting-edge technology is anticipated to offer lucrative growth opportunities for the cloud artificial intelligence market in this region.

Leading Companies

The leading prominent companies profiled in the global cloud artificial intelligence market are: -

- Google LLC
- Intel Corporation
- Intel Corporation
- NVIDIA Corporation
- Apple Inc.
- Salesforce.com Inc.
- Amazon Web Services Inc.
- Infosys Limited
- QlikTech International AB.
- Other prominent key players

Segmentation Outline

The global cloud artificial intelligence market segmentation focuses on Component, Technology, Industry Vertical, and Region.

Segmentation based on Component

- Solution
- Service

Segmentation based on Technology

- Deep Learning
- Machine Learning (ML)
- Natural Language Processing (NLP)
- Others

Segmentation based on Industry Vertical

- IT and Telecommunication
- BFSI
- Retail and E-commerce
- Healthcare
- Automotive and Transportation
- Government and Defense
- Others

Segmentation based on Region

- North America
- The U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Singapore
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa