Press Release

Australia AI as a Service Market to Grow at a Formidable Rate During Forecast Period

Growing number of innovative startups in the country to drive the growth of Australia AI as a service market

According to TechSci Research report, Australia AI as a Service Market By Technology, By Organization Size, By Service Type, By Type of Cloud, By End User Industry, By Region, Competition, Forecast & Opportunities, 2025, the Australia AI as a service market is expected to grow at a formidable rate during the forecast period on account of rise in adoption of cloud-based solutions and surge in requirement for artificial intelligence and cognitive computing market in the country. Additionally, increased application areas and growth in demand for IoT are further providing growth opportunities for the AI as a service market in Australia. However, lack of AI experts and slow digitization rate can hamper the growth of market during forecast period.

The Australia AI as a service market is segmented based on technology, organization size, service type, type of cloud, end user industry, region and company. Based on organization size, the market can be divided into SMEs and large enterprises. The large enterprises are expected to register significant growth during forecast years owing to the increasing demand for artificial intelligence from various end-user industries. Based on end user industry, the market can be categorized into BFSI, healthcare, retail, IT & telecom, government and others. The BFSI industry segment is anticipated to dominate the market through 2025. This can be accredited to the increased adoption of AI technology in BFSI industry primarily to enhance operational efficiency and customer experience.

Fair Isaac (Australia) Pty Ltd., IBM Australia Ltd., Google Australia Pty Ltd, SAP Australia Pty Ltd, Salesforce Australia, Amazon Web Services Australia Pty Ltd, Microsoft Australia, Intel Australia Pty Ltd., SAS Institute Inc., Oracle Corporation Australia Pty. Ltd. and others are some of the leading players operating in Australia AI as a service market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“Australia AI as a service market is witnessing growth on account of the increased adoption of artificial intelligence, by both public and private sectors. Additionally, significant investments by the tech giants such as AWS, IBM, among others in the region are further expected to fuel the demand for AI as a service during the next five years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

Australia AI as a Service Market By Technology, By Organization Size, By Service Type, By Type of Cloud, By End User Industry, By Region, Competition, Forecast & Opportunities, 2025 has evaluated the future growth potential of Australia AI as a service market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Australia AI as a service market.

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