Global Artificial Intelligence-as-a-Service (AIaaS) Market 2019-2023 | Growing Demand for Smart Homes and Development of Smart Cities to Boost Growth | Technavio
Summary
Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.The concept of smart homes is growing as consumer needs are changing and they are focusing more on convenience through electronic devices.AIaaS forms an important part in making transportation smart, optimizing urban planning, and cities safe.“Apart from growing demand for smart homes and development of smart cities, some other factors boosting the global market are lack of skilled workforce encouraging enterprises to shift towards AIaaS and the use of AIaaS for human interaction with machines using natural language processing (NLP),” says a senior analyst at Technavio for research on IT professional services.The growth of the market is supported by the growing adoption of this technology in industries and rising investment by governments in countries such as India.