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Artificial Intelligence-as-a-Service (AIaaS) Market to Grow by USD 79.8 Billion (2024-2028) Driven by R and D Investments, AI’s Market Impact- Technavio Report

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NEW YORK, Aug. 23, 2024 /PRNewswire/ — The global artificial intelligence-as-a-service (AIaaS) market  size is estimated to grow by USD 79.82 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 58.37%  during the forecast period.  Increasing investment in R and D is driving market growth, with a trend towards increasing integration of aiaas with blockchain. However, data privacy issues  poses a challenge. Key market players include Accenture Plc, Alphabet Inc., Amazon.com Inc., Baidu Inc., Capgemini Service SAS, Cognizant Technology Solutions Corp., Dell Technologies Inc., Fujitsu Ltd., Hitachi Ltd., Huawei Technologies Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., NVIDIA Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd., Tencent Holdings Ltd., and Wipro Ltd..

Get a detailed analysis on regions, market segments, customer landscape, and companies – Click for the snapshot of this report

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Retail and healthcare, BFSI, Telecommunication, Government and defense, and Others), Type (Software and Services), and Geography (North America, APAC, Europe, Middle East and Africa, and South America)

Region Covered

North America, APAC, Europe, Middle East and Africa, and South America

Key companies profiled

Accenture Plc, Alphabet Inc., Amazon.com Inc., Baidu Inc., Capgemini Service SAS, Cognizant Technology Solutions Corp., Dell Technologies Inc., Fujitsu Ltd., Hitachi Ltd., Huawei Technologies Co. Ltd., Infosys Ltd., Intel Corp., International Business Machines Corp., Microsoft Corp., NVIDIA Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd., Tencent Holdings Ltd., and Wipro Ltd.

Key Market Trends Fueling Growth

Blockchain technology, a decentralized digital ledger, is integrated with Artificial Intelligence-as-a-Service (AIaaS) to enhance transparency and efficiency in business operations. This integration offers several advantages, including real-time tracking, increased security, reduced fraud, automated data flow, and paperwork reduction. It also provides transparency during the movement of products, scalability for quick and easy database access, and improved traceability. These benefits enable enterprises to collaborate with vendors, streamline processes, and reduce costs, driving the growth of the global AIaaS market. 

Artificial Intelligence-as-a-Service (AIaaS) is a trending business solution that offers accessible AI services on a subscription or pay-per-use basis. Virtual assistants and smart monitoring systems are popular applications. AIaaS enables businesses to leverage AI-based infrastructure development without upfront costs or the need for specialized expertise. With the rise of Digital India and the global cloud market, AI services are becoming essential for various industries, including healthcare, BFSI, and manufacturing. AIaaS offers Machine Learning models, Application Programming Interfaces (APIs), and Software Development Kits (SDKs) for developers. It also provides access to high-performance computing and cognitive computing capabilities. AIaaS can help prevent mistakes and pipeline failures by suggesting code improvements. Third-party offerings in AIaaS include customer service chatbots, cybersecurity solutions, and AI models for industries like BFSI. Cloud-based solutions and Blockchain technology are also integrated into AIaaS. Hybrid, public, and private cloud options cater to different business needs. In conclusion, AIaaS is a valuable business tool that offers accessible AI services, technical expertise, and quality data to businesses, enabling them to focus on their core competencies while leveraging the power of AI. 

Discover a Comprehensive 360° Market Analysis: Understand the Impact of AI. For detailed information- Request Sample!

Market Challenges

Artificial Intelligence-as-a-Service (AIaaS) enables businesses to leverage advanced AI solutions for data analysis and future planning. However, data privacy concerns are emerging due to AI’s ability to make autonomous decisions and actions. Companies use data anonymization techniques to prevent data breaches while using AI, but this sensitive data is crucial for AIaaS. Enterprises acquire and analyze customer data to comply with regulations and adapt to changing policies. Strict regulations like the European Union’s General Data Protection Regulation (GDPR) enforce standards for safe data processing, requiring companies to store confidential data in EU-based servers and prohibit automated decision-making without human intervention. These regulations increase data acquisition complexities, potentially limiting AI’s prediction capabilities and negatively impacting the global AIaaS market growth.Artificial Intelligence-as-a-Service (AIaaS) is revolutionizing businesses by providing easy access to AI-based solutions. However, implementing AIaaS comes with challenges. Data encryption is crucial for securing sensitive data in the cloud. Compliance frameworks ensure adherence to industry regulations. Choosing the right algorithms for specific use cases is essential. Pre-trained models offer quick solutions, but customizable models cater to unique business needs. Scalability and flexibility are key for large enterprises. Machine learning and deep learning require significant hardware and software resources. AI talent and cloud computing infrastructure are essential. Cloud providers like Microsoft Azure offer AI services, including predictive analytics, fraud detection, and personalized financial recommendations. Retail, telecommunications, government and defense, manufacturing, energy, and other industries face niche challenges. Disruptive solutions like cloud-based machine learning, multi-cloud functioning, and cloud-based intelligence services address these challenges. Usability and automation capabilities are important for effective implementation. Multi-cloud management strategy ensures seamless functioning of AI solutions. Data security is paramount in this virtuous cycle of innovation, involving startups, cloud providers, and businesses.

For more insights on driver and challenges – Download a Sample Report

Segment Overview 

This artificial intelligence-as-a-service (aiaas) market report extensively covers market segmentation by

End-user 1.1 Retail and healthcare1.2 BFSI1.3 Telecommunication1.4 Government and defense1.5 OthersType 2.1 Software2.2 ServicesGeography 3.1 North America3.2 APAC3.3 Europe3.4 Middle East and Africa3.5 South America

1.1 Retail and healthcare-  Artificial Intelligence-as-a-Service (AIaaS) is a business solution that allows companies to access AI capabilities without the need for in-house expertise or infrastructure. This cloud-based model offers cost savings, flexibility, and scalability. AIaaS enables businesses to integrate advanced analytics, machine learning, and natural language processing into their operations, enhancing productivity and decision-making processes. It’s a valuable tool for organizations seeking to leverage AI technology without the complexities of building and maintaining their own systems.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2018 – 2022)  – Download a Sample Report

Research Analysis

Artificial Intelligence-as-a-Service (AIaaS) is a cloud-based model that offers businesses access to AI technologies and capabilities without the need for in-house expertise or infrastructure. This includes Machine Learning algorithms, Application Programming Interfaces (APIs), and Software Development Kits (SDKs). High-Performance Computing and Blockchain are also integrated into AIaaS for enhanced processing power and security. AIaaS offers customer service chatbots, cybersecurity solutions, and cloud-based intelligence services. Data encryption and compliance frameworks ensure data security and privacy. Pre-trained models and customizable models cater to various business needs. Multi-cloud functioning and multi-cloud management strategies enable automation capabilities and usability. Virtual assistants and AI-based infrastructure development are other applications of AIaaS. In the context of Digital India, AIaaS can drive digital transformation and innovation across industries.

Market Research Overview

Artificial Intelligence-as-a-Service (AIaaS) is a cloud-based model that offers businesses access to AI technologies and capabilities on a subscription or pay-per-use basis. This includes Machine Learning algorithms, Pre-trained models, and Customizable models, delivered through Application Programming Interfaces (APIs) and Software Development Kits (SDKs). AIaaS leverages High-Performance Computing, Blockchain, and Cloud-based solutions for Cognitive computing applications in various industries such as BFSI, Retail, Telecommunications, Government and Defense, Manufacturing, Energy, and Healthcare. AIaaS solutions provide scalability and flexibility, addressing niche industry challenges with Disruptive solutions. Cloud providers like Google Cloud and Microsoft Azure offer AI services, including AI-based infrastructure development, Virtual assistants, and Predictive analytics. AI talent and computational power are essential for developing and deploying AI models, ensuring Data security and compliance with various frameworks. AIaaS also offers Cybersecurity, Natural Language Processing, and Optimization capabilities. The global cloud market continues to grow, with a virtuous cycle of innovation and adoption driving the demand for AI services.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userRetail And HealthcareBFSITelecommunicationGovernment And DefenseOthersTypeSoftwareServicesGeographyNorth AmericaAPACEuropeMiddle East And AfricaSouth America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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TS Imagine Expands Integration with Trumid’s Fixed-Income Trading Platform

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Adds Access to Trumid RFQ Automation
and Trumid Full Self Trading (FST™)

NEW YORK, July 23, 2026 /PRNewswire/ — TS Imagine, a leading global cross-asset provider of trading, portfolio, risk management and prime brokerage solutions, announced an expanded workflow integration with Trumid, a financial technology company and leading fixed income electronic trading platform.

The enhanced integration provides TS Imagine clients with broader access to Trumid’s electronic trading ecosystem, including its list-based workflows—Trumid RFQ and Portfolio Trading (PT)—while expanding RFQ automation and cross-protocol capabilities. Clients can now access:

Trumid’s RFQ network, enabling automated workflows through RFQ Auto-Submit via Trumid AutoPilot™ for RFQ, along with API-driven executionHeadless RFQ responder, initiator, and voice inquiry workflows Trumid Full Self Trading (FST™), Trumid’s automated cross-protocol execution capability connecting liquidity and execution opportunities across Trumid RFQ and Swarms, with expansion to Trumid Attributed Trading (firm dealer streams) planned for H2 2026. 

TS Imagine first integrated with Trumid in 2020, including support for Trumid’s Fair Value Model Price (FVMP™) predictive pricing model for corporate bonds.

Alexis Sainte Marie, Fixed Income Product, TS Imagine, said:

“Our expanded relationship with Trumid is an important step for TS Imagine clients seeking greater access to liquidity and workflow automation. We’ve particularly seen significant growth in areas like portfolio trading and RFQ and will continue to work closely with the Trumid team to enhance trading opportunities for our customers.”

Jason Quinn, Chief Product Officer & Global Head of Sales at Trumid, said: 

“Our mutual clients continue to benefit from the integration with TS Imagine, particularly as adoption of Trumid’s list-based workflows continues to accelerate. As clients increasingly engage across multiple Trumid trading protocols, we see additional opportunities to expand our relationship and deliver even greater value for our mutual clients.”

Trumid’s list protocols continued to deliver strong growth during Q2 2026. Trumid RFQ Average Daily Volume (ADV) increased 122% year-over-year, while automated trade volumes executed through Trumid AutoPilot™ for RFQ more than doubled. Trumid PT volume rose approximately 40% year-over-year, with the protocol recording its highest quarterly ADV alongside all-time highs in buy-side participation and lists traded. 

About TS Imagine 

TS Imagine delivers a best-in-class SaaS platform for integrated electronic front-office trading, portfolio management, prime brokerage, and financial risk management. Our global team of technologists continuously develops software and deploys new technologies that empower financial institutions to outperform markets and manage risk in real time. Many of the world’s leading financial institutions trust TS Imagine’s platform to manage their risk exposure and make better trading decisions across derivatives, equities and fixed income, cutting complexity and driving efficiencies.

About Trumid

Trumid is a financial technology company and fixed income electronic trading platform focused on US dollar-denominated Investment Grade, High Yield, Distressed, and Emerging Market bonds. Trumid optimizes the credit trading experience by combining agile technology and market expertise, with a focus on product design. The result is a differentiated ecosystem of protocols and trading solutions delivered within one intuitive platform. Learn more at www.trumid.com.

MEDIA CONTACTS

Greentarget for TS Imagine
tsimagine@greentarget.co.uk

Trumid Press
+1 (212) 618-0300
press@trumid.com

View original content:https://www.prnewswire.com/news-releases/ts-imagine-expands-integration-with-trumids-fixed-income-trading-platform-302832754.html

SOURCE Trumid

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Passage Preparation Wins 2026 CODiE Award for Best Professional Learning Platform

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CHARLOTTESVILLE, Va., July 23, 2026 /PRNewswire/ — Passage Preparation™, a division of K12 Coalition, has been named a 2026 CODiE Award Winner in the category Best Professional Learning Platform.

The CODiE Awards recognize the most innovative products, platforms and services across technology and education. Winners are selected through a rigorous evaluation process led by independent industry experts who assess each solution based on innovation, functionality, market impact, and overall value.

Selected from 228 finalists across 75 categories, the 2026 CODiE Award winners represent the solutions setting new standards for excellence and innovation.

“We are honored to receive this recognition from the CODiE Awards,” said Nathan Estel, Managing Director of Passage Preparation. “This award reflects our team’s commitment to helping aspiring educators build the knowledge, confidence, and instructional expertise they need to succeed on their licensure exams. We remain dedicated to strengthening the educator pipeline through innovative learning experiences that prepare great teachers for the classroom.”

As schools across the country face persistent teacher shortages, Passage Preparation is helping accelerate the path from aspiring educator to licensed classroom teacher. The platform provides comprehensive licensure exam preparation tailored to state certification requirements and subject areas, ensuring candidates focus on the content most relevant to their certification pathway. Developed by experienced teachers and teacher educators, every course is aligned with both licensure standards and evidence-based instructional practices, equipping candidates with the skills they need to succeed on certification exams and in the classroom.

Unlike traditional test-preparation programs that emphasize memorization and test-taking strategies, Passage Preparation builds lasting content knowledge and teaching proficiency through engaging, interactive learning experiences. Candidates benefit from diagnostic assessments that identify strengths and areas for improvement, detailed progress reporting, practice assessments, and personalized study plans. Flexible self-paced learning is complemented by live virtual cohorts that provide instructor guidance, peer collaboration, and accountability, creating a supportive professional learning community for busy educators.

Designed with accessibility and flexibility in mind, Passage Preparation includes tools such as Immersive Reader, offering real-time translation in more than 100 languages, text-to-speech functionality, customizable display settings, and other features that support diverse learning needs. The platform has consistently helped improve certification exam pass rates, enabling many candidates to earn licensure on their first attempt, saving valuable time and costs. By preparing more educators to enter the profession successfully, Passage Preparation helps districts fill critical teaching positions faster and strengthens the educator workforce nationwide.

“The 2026 CODiE Award winners represent some of the most innovative and impactful solutions in the industry,” said Jennifer Baranowski, President of the CODiE Awards. “These organizations are solving meaningful challenges, delivering measurable outcomes, and helping shape the future of technology.”

A complete list of 2026 CODiE Award winners is available at https://codieawards.com/winners.

About K12 Coalition 

K12 Coalition is a collective of specialized education products and services with a common mission to provide a great education for every student in every classroom every day. The company offers deep expertise in solving five macro K-12 education challenges: teacher certification, professional learning, literacy and math curriculum, accelerated student learning through summer school, and district support, including strategic planning and consulting. Learn more at k12coalition.com.

About Passage Preparation

Passage Preparation specializes in providing comprehensive licensure assessment preparation resources designed to bolster teacher confidence and proficiency. These learning resources equip licensure candidates with the knowledge necessary for success on exams and instill in them best teaching practices using methodologies thoughtfully curated to be engaging and aligned precisely with the content covered on the licensure exams. Passage Preparation is part of K12 Coalition, a certified B Corporation helping schools and teachers thrive nationwide.

Media Contact:
Alex Fairchild
K12Coalition@finnpartners.com 

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SOURCE K12 Coalition

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Knox Systems Partners with Microsoft to Accelerate Secure Government Access to Commercial Innovation on Microsoft Azure

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Strategic collaboration helps software companies bring cutting-edge commercial technology to the U.S. Government faster through Microsoft Azure Government Cloud

NEW YORK and WASHINGTON, July 23, 2026 /PRNewswire/ — Knox Systems (Knox), the largest, longest-running federal managed cloud, today announced a collaboration with Microsoft to help commercial software companies deploy secure, mission-ready solutions on Microsoft Azure Government Cloud for U.S. Government customers.

As demand for modern AI, cybersecurity, data, and enterprise software continues to grow across the public sector, the partnership is designed to reduce the barriers that have historically prevented government agencies from accessing the same technologies already transforming the commercial market.

Knox enables software providers to achieve production-ready federal cloud environments in as little as 90 days through its pre-authorized Federal Managed Cloud. By inheriting a substantial portion of required security controls, companies can reduce the time, effort, cost, and compliance burden associated with deploying compliant government cloud solutions. Combined with Microsoft Azure’s trusted government cloud platform, the collaboration provides an accelerated path for innovative software companies seeking to serve federal civilian and defense customers.

“America’s greatest technology companies shouldn’t spend years navigating compliance before they can help solve government missions,” said Irina Denisenko, CEO of Knox Systems. “Microsoft has built one of the world’s most trusted cloud platforms for government. Knox removes the operational barriers that can keep innovative software companies from deploying secure, compliant solutions on Azure Government. Together, we’re making it dramatically faster for agencies to access the technologies they need, securely, compliantly, and at mission speed.”

The collaboration strengthens Microsoft’s ecosystem for independent software vendors (ISVs) pursuing government opportunities while expanding the pathway for AI-native, cybersecurity, enterprise software, and critical infrastructure companies to bring production workloads to Azure.

“Microsoft is committed to helping software companies innovate for government while meeting the highest standards for security and compliance,” said Jamie Harper, VP, Defense Industrial Base, Microsoft. “Our collaboration with Knox provides organizations with an accelerated path to deploy innovative solutions on Microsoft Azure Government Cloud, helping government agencies gain faster access to the technologies that support critical missions.”

Knox currently operates one of the industry’s largest FedRAMP-authorized managed cloud environments, supporting more than 70 software companies and maintaining 16 US Federal and Department of War Authorizations to Operate (ATOs). Customers including Adobe, Armis, Celonis, BigID, and other leading software providers rely on Knox to bring commercial innovation to government faster while maintaining rigorous security standards.

As AI adoption accelerates across government, the partnership reflects a shared commitment to ensuring agencies can securely leverage the same cutting-edge technologies already powering the commercial economy.

About Knox Systems

Knox Systems operates the largest managed federal cloud, trusted by top agencies and partners across defense and civilian sectors. Built for speed, resilience, and compliance, Knox delivers FedRAMP authorization in 90 days – turning the biggest bottleneck in government IT into the fastest path to modernization. Knox proudly serves Adobe, Celonis, OutSystems, Armis, BigID, and more AI and SaaS providers, accelerating secure innovation across the federal landscape. Learn more at knoxsystems.com.

Media Contact:
knox@w2comm.com

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SOURCE Knox Systems, Inc

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