The Cloud AI Market Is Expected To Grow At A CAGR Of More Than 37% With The Rising Demand For Virtual Assistants As Per The Business Research Company's Cloud AI Global Market Report 2023
LONDON, Nov. 06, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Cloud AI Global Market Report 2023, the global cloud AI market is in the midst of a transformative journey, with remarkable growth anticipated in the coming years. Surging from $43.04 billion in 2022, the cloud AI market is projected to reach $59.49 billion in 2023, driven by a robust compound annual growth rate (CAGR) of 38.2%. This growth pattern is expected to continue, with the cloud AI market reaching $215.39 billion by 2027, demonstrating a CAGR of 37.9%. This cloud AI market expansion underscores the profound impact of cloud-based artificial intelligence.
Charting the Path to Growth
The future of the cloud AI market is illuminated by the growing demand for virtual assistants, marking a significant trend driving the industry forward. Virtual assistants, also known as voice or digital assistants, employ artificial intelligence (AI) technologies to offer users interactive and personalized assistance. They are designed to comprehend and respond to user queries, perform tasks, and provide relevant information and services.
Cloud AI plays a pivotal role in empowering virtual assistants and enhancing their capabilities. This technology empowers businesses to build, train, deploy, and manage AI models at scale. It offers scalability, reliability, security, and cost-effectiveness, making it a powerful enabler of enhanced user experiences.
Learn More In-Depth On The Cloud AI Market
https://www.thebusinessresearchcompany.com/report/cloud-ai-global-market-report
Innovations Shaping the Cloud AI Landscape
Innovative AI cloud services represent a key trend that is rapidly gaining momentum in the cloud AI market. Leading companies in this space are channeling their efforts into the development of groundbreaking AI cloud services to maintain their competitive edge. One notable instance is NVIDIA Corporation, which introduced DGX Cloud, an AI supercomputing cloud service, in March 2023.
DGX Cloud empowers businesses to run AI workloads at scale and speed while providing access to the latest AI technologies. With powerful GPUs at its core, DGX Cloud allows companies to access their own AI supercomputer via a simple online browser, eliminating the need to invest in on-premises hardware.
Leaders in the Cloud AI Market
Prominent industry players are shaping the cloud AI market, with companies such as Amazon Web Services Inc., Microsoft Corporation, and Google LLC playing pivotal roles. The landscape is populated with dynamic organizations that are dedicated to advancing the cloud AI frontier.
Cloud AI Market Segmentation
The cloud AI market is multi-faceted, with varying aspects:
- Type: Encompassing both solutions and services.
- Technology: Spanning deep learning, machine learning, natural language processing, and other AI technologies.
- End-User Vertical: Serving industries such as banking, financial services and insurance (BFSI), healthcare, automotive, retail, government, education, and other sectors.
Get A Free Sample Of The Global Cloud AI Market Report
https://www.thebusinessresearchcompany.com/sample_request?id=12671&type=smp
As stakeholders in the cloud AI market, there are ample opportunities to make the most of the insights provided by the Cloud AI Global Market Report 2023. Understanding the market dynamics and emerging trends is crucial for positioning your organization effectively in this transformative landscape.
The cloud AI market report equips industry players with the knowledge required to meet the evolving demands of businesses and consumers. By harnessing the power of cloud AI and virtual assistants, businesses can tap into the potential for enhanced user experiences, scalability, reliability, security, and cost-effectiveness.
Cloud AI Global Market Report 2023 by The Business Research Company provides insights on the cloud AI market size, cloud AI market segments, cloud AI market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Check Out Similar Market Intelligence Reports By The Business Research Company:
Cloud Services Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/cloud-services-global-market-report
Cloud Orchestration Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/cloud-orchestration-global-market-report
Cloud Security Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/cloud-security-global-market-report
Learn More About The Business Research Company
The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model – World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 58 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
The Business Research Company Europe: +44 207 1930 708 Asia: +91 8897263534 Americas: +1 315 623 0293 Email: info@tbrc.info Follow us on: LinkedIn: https://in.linkedin.com/company/the-business-research-company Twitter: https://twitter.com/tbrc_info Facebook: https://www.facebook.com/TheBusinessResearchCompany YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ Blog: https://blog.tbrc.info/ Healthcare Blog: https://healthcareresearchreports.com/ Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
© Copyright Globe Newswire, Inc. All rights reserved. The information contained in this news report may not be published, broadcast or otherwise distributed without the prior written authority of Globe Newswire, Inc.
