The growth in expenditure on adoption of artificial intelligence and technological advancement for workflow optimization increase the demand for advanced analytical systems in the market.
Moreover, rise in adoption of cloud-based solutions and surge in requirement for artificial intelligence and cognitive computing market are the major factors that boost the growth of the market. However, dearth of trained professionals is expected to hinder the growth.
Furthermore, increased application areas and growth in demand for IoT are projected to provide lucrative opportunities for the artificial intelligence as a service market.