Global AIaaS Market to Grow at 34.2% CAGR Through 2034, Driven by Vertical AI Stacks and Cloud-Delivered Intelligence

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Industry Experts, Inc. today publishes "Global Artificial Intelligence as a Service (AIaaS) Market - Technologies, Models, Applications and Industry Sectors," forecasting the market to expand from US$15.5 billion in 2024 to US$294 billion by 2034 at a CAGR of 34.2%. As per this new global market research report, this surge is driven by the convergence of cloud-native infrastructure with advanced machine learning, the embedding of generative AI across marketing, design and development workflows, and the democratisation of APIs and low-code/no-code platforms that lower adoption barriers for organisations of all sizes.

North America remains the largest regional market with a 44.2% share in 2024, underpinned by hyperscaler leadership from AWS, Azure and Google Cloud and early enterprise AI investments. Europe follows, supported by regulatory clarity under the EU AI Act, while Asia-Pacific is the fastest-growing region at a 43.1% CAGR through 2034, driven by government AI initiatives and digital transformation across China, India and Southeast Asia.

Machine Learning Frameworks led component spending in 2024 with a 30% share, while Chatbots & AI Agents are set to become the largest segment by 2027 as enterprises adopt LLM-powered virtual assistants. MLaaS remains the largest functional offering at 48.8% of the market, and Generative AIaaS is the fastest-growing at a 43.8% CAGR. In applications, IT/Product Development is the fastest-growing area at a 41.7% CAGR, driven by AI copilots, AutoML and DevOps integration.

The report profiles more than 25 leading providers including AWS, Microsoft, Google, IBM, NVIDIA and Hugging Face and analyses AIaaS market dynamics by component, functional offering, application and industry sector across North America, Europe, Asia-Pacific, South America and Middle East & Africa. Coverage spans 2024 as the base year, forecasts through 2034 and detailed country-level analysis across 29 independent country markets.

About Industry Experts, Inc.
Industry Experts, Inc. ranks among the leading market research providers globally. Its off-the-shelf and customised business intelligence reports offer strategic insights and valuable guidance to enable corporate strategists, analysts, researchers and startups in obtaining crisp, unbiased current and future market data. For more information, contact us at +1 320 497 3787 or visit https://industry-experts.com.

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