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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. 

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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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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

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Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

on

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

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RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

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