Cloud Artificial Intelligence Market To Reach $887 Billion, By 2032 At 35.8% Cagr: Allied Market Research

The global cloud artificial intelligence market is growing rapidly due to an increasing availability of cloud-based AI services, the growing usage of mobile devices, and the surge in technological advancements. According to a report published by Allied Market Research, the industry generated $42.7 billion in 2022 and is anticipated to generate $887 billion by 2032, witnessing a CAGR of 35.8% from 2023 to 2032. Cloud artificial intelligence offers technology solutions for every stage of the AI lifecycle, encompassing the development of features, models, and applications, their deployment, ongoing maintenance, and internal distribution within an organization. Prime determinants of growth include the increasing availability of cloud-based AI services, the growing usage of mobile devices, and the surge in technological advancements.