Market Trends of Citizen Services AI Industry
This section covers the major market trends shaping the Citizen Services AI Market according to our research experts:
Adoption of Cloud-based AI for Citizen Service to Expected to Drive the Market
- The cloud AIs are also enhancing cloud-based service and applications; It is a significant factor for the growing demand for cloud AI services and solutions in the citizen service sector. In 2019, Bank of America turned to the Microsoft Cloud, as a part of its digital transformation to help deliver new business efficiencies, support digital culture change, and better meet customer needs.
- According to SAP, nearly 60% of companies and 75% of digital leaders in the MENA region plan to invest in the cloud by 2019. In addition, most of the companies are shifting to cloud from on-premise AI, due to faster delivery time with low latency and real-time tracking. This is likely to foster the studied market growth during the forecast period.
- In March 2019, SwiftStack, a provider of multi-cloud data storage and management, launched a customer-proven edge-to-core-to-cloud solution that supports large-scale Artificial Intelligence/Machine and Deep Learning (AI/ML/DL) workflows. Recently, the company also deployed the new solution stack in two autonomous vehicle use cases.
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North America is Expected to Dominate the Market
- North America is expected to dominate the global citizen service AI market, owing to its status as one of the early adopters of the technology. The other factor is that most of the major players in the market are US-based. The cloud adoption among the regional end-user is also quite high. Hence, the investment in the studied market is too high.
- Many of the studied market vendors in the region are also investing in innovating additional and unique features to their offering, mainly to gain a competitive advantage as well as to expand their customer target base. This is also expected to bring advancement in the regional and global markets. This factor expands the market scope further.
- For instance, US-based SoundHound Inc. offers Houndify, an independent AI platform that enables developers and business owners to deploy a conversational interface anywhere to retain control of their brand and users, while differentiating and innovating. The company recently added SoundHound music recognition technology to its Houndify voice AI platform. It also made a strategic partnership with the US government to accelerate development.
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