Cloud AI market to hit $647,6bn by 2030 - IT-Online

The global cloud AI market size is projected to reach $647,6-billion by 2030, registering a CAGR of 39,6% from 2023 to 2030, according to a new report by Grand View Research.

Moreover, many big companies are investing and expanding, which drives marketgrowth. The need to increase operational effectiveness in the manufacturing sector and the growth of cloud-based services and applications across various industries will also offer growth opportunities to the global market. AI and cloud computing are combined and used in our everyday lives by digital assistants like Alexa from Amazon, Google Home, and Siri. More broadly, AI capabilities are used in business cloud computing to improve the strategic, effective, and insight-driven nature of business processes.

Moreover, companies are integrating cloud-based technology with their product offerings. The IT and telecommunications sector has considerably contributed to the growth of the market as organisations across industries have increasingly turned to cloud-based AI solutions to efficiently manage their data and operations.

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