AI as a Service Market Set to Soar: From $9.1B in 2023 to $72.5B by 2030
The AI as a Service Market is experiencing an unprecedented surge in growth. In 2023, the market was valued at USD 9.1 billion and is projected to surpass USD 72.5 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 34.5% from 2024 to 2030. This rapid expansion is fueled by the increasing demand for artificial intelligence (AI) solutions across various industries. As more businesses adopt AI-driven technologies to enhance productivity and innovation, the market for AI as a service (AIaaS) continues to skyrocket. What is AI as a Service? AI as a Service (AIaaS) refers to third-party AI tools and platforms that companies can use to integrate AI capabilities without building or maintaining the infrastructure themselves. Similar to Software as a Service (SaaS), AIaaS allows businesses to leverage the power of AI without having to develop expensive hardware and software or hire a team of AI experts. Why AIaaS is So Popular One of the main reasons AIaaS is gaining tractio