Australia AI as a service market is projected to grow at a CAGR of 36% during 2020-2025
NEW YORK, April 20, 2020 /PRNewswire/ -- Australia AI as a Service Market By Technology (Machine Learning; Natural Language Processing; Others), By Organization Size (SMEs v/s Large Enterprise), By Service Type (Software Tools v/s Services), By Type of Cloud (Public Cloud; Private Cloud; Hybrid Cloud), By End User Industry (BFSI; Healthcare; Retail; IT & Telecom; Government; Others), By Region, Competition, Forecast & Opportunities, 2025
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Australia AI as a service market is projected to grow at a CAGR of 36% during 2020-2025 driven by the growing demand for AI-powered services in the form of Application Programming Interface (API) and Software Development Kit (SDK). Additionally, growing expenditure on adoption of Artificial Intelligence and technological advancements for workflow optimization is further anticipated to fuel the market over the next five years.
Australia AI as a service market is segmented based on technology, organization size, service type, type of cloud, end user industry, and region.Based on technology, the market can be categorized into Machine Learning, Natural Language Processing (NLP) and others.
The NLP segment is expected to dominate the market during forecast period since NLP technology is capable of understanding user behavior, which is why it helps in delivering enhanced customer experience.Based on service type, the market can be bifurcated into software tools and services.
The software tools segment is expected to witness significant growth during the forecast years. This can be attributed to the fact that software tools play an important role in finding hidden patterns in data and data sets to predict outcomes from the large volumes of data.
Major players operating in Australia AI as a service market include Amazon Web Services Australia Pty Ltd, Google Australia Pty Ltd, IBM Australia Ltd., Microsoft Australia, Fair Isaac (Australia) Pty Ltd., SAP Australia Pty Ltd, Salesforce Australia, Intel Australia Pty Ltd., SAS Institute Inc., Oracle Corporation Australia Pty. Ltd. and others.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
• To analyze and forecast the market size of Australia AI as a service market.
• To classify and forecast Australia AI as a service market based on technology, organization size, service type, type of cloud, end user industry, and regional distribution.
• To identify drivers and challenges for Australia AI as a service market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Australia AI as a service market.
• To identify and analyze the profile of leading players operating in Australia AI as a service market.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of service providers across the country.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst could include the service providers which could not be identified due to the limitations of secondary research. The analyst examined the service providers, distribution channels and presence of all major players across the region.
The analyst calculated the market size of Australia AI as a service market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. The analyst sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key Target Audience:
• Australia AI as service providers, end users and other stakeholders
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to AI as a service
• Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, end users and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, Australia AI as a service market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• Market, By Technology:
o Machine Learning
o Natural Language Processing
o Others
• Market, By Organization Size:
o SMEs
o Large Enterprises
• Market, By Service Type:
o Software Tools
o Services
• Market, By Type of Cloud:
o Public Cloud
o Private Cloud
o Hybrid Cloud
• Market, By End User Industry:
o BFSI
o Healthcare
o Retail
o IT & Telecom
o Government
o Others
• Market, By Region:
o Australia Capital Territory & New South Wales
o Victoria & Tasmania
o Western Australia
o Queensland
o Northern Territory & Southern Australia
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in Australia AI as a service market.
Available Customizations:
With the given market data, we offers customizations according to a company's specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p05885389/?utm_source=PRN
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