Global Cloud AI Market is Projected to Gain CAGR of 40.8% from 2023 – 2031

HOUSTON, TEXAS, UNITED STATES, July 10, 2023/EINPresswire.com/ -- Market Introduction: Global Cloud AI Market

AI cloud provides technology for every stage of the AI lifecycle, including developing features, models, and applications, running and maintaining them, and disseminating them inside the company. AI platforms are a class of technologies that support the whole AI lifecycle. These platforms are referred to as AI Clouds when they are accessible in large-scale, elastic contexts. Cloud-based AI is a promising area and it has lately received recognition and has been used for a variety of tasks, including data processing, software creation, and storage. Cloud computing now provides more options due to the development of artificial intelligence (AI). AI in the cloud is an effective tool that may automate monotonous jobs, enhance decision-making, and boost productivity. Machine learning is a branch of artificial intelligence that trains computers to carry out tasks that humans do, such as speech recognition and picture processing. Depending on the application, these algorithms analyses huge amounts of data that are processed using either CPUs or GPUs.

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Increased Demand for Cloud AI Across Various Organization Sizes
Organizations are incorporating an enterprise-grade AI platform approach that combines crowd-sourced development to break down skill silos with a software stack that combines a variety of technologies. This strategy aims to expand AI usage. Enterprise software is now the primary means of using AI, and as this software moves more of its operations to the cloud, it helps make AI cloud a reality. The future lies in working with businesses to develop scenario and model domain-specific for industries, such as telecom, manufacturing, healthcare, finance, and insurance. Verticals that can help organizations reach their goal of becoming AI-first businesses by fast integrating AI capabilities, is propelling the demand of global cloud AI market,

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Based on Region Asia Pacific Region is Anticipated to be the Fastest Growing Region in the Global Cloud AI Market During The Forecast Period 2023-2031.
The data center industry in Asian countries are expanding at an exponential rate due to the widespread usage of cloud computing and artificial intelligence (AI). The fastest expanding market categories are edge data centers and hyperscalers (primarily the worldwide cloud service providers), which together account for 79% of the total demand wherein cloud AI is in high demand. Asian nations like Japan are benefiting from this AI growth to support policies and investments from the public and business sectors. Among the biggest manufacturers of industrial robots, China and Japan are also commercializing AI research areas. China's enormous market is open to quickly change and may thus accept new AI advancements without negatively impacting the country's economy. China has enacted many laws in recent years to encourage the development of AI, including "Made in China 2025," "Action Outline for Promoting the Development of Big Data," and "Next Generation Artificial Intelligence Development Plan”. Thus, with these factors the cloud AI market will tremendously grow in Asia Pacific in the upcoming years.

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Global Cloud AI Market Snapshot

Market Value in 2022: USD 44.79 Bn

Growth Rate (2023 – 2031): 40.8%

Market Segmentation
• By Offerings
o Solutions
o Services
• By End Users Industry
o Healthcare
o Banking, Financial Services, Insurance
o Automotive
o Government
o Manufacturing
o IT and Telecommunication
o Retail and E-Commerce
o Others

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Companies Included
• Google
• H2O.ai.
• Intel Corporation
• Microsoft
• NVIDIA Corporation
• Oracle
• Qualcomm Technologies, Inc.
• Other market participants

Regions Covered
• North America (U.S., Canada, Mexico, Rest of North America)
• Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
• Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific
• Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
• Latin America (Brazil, Argentina, Rest of Latin America)

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