Enterprise Artificial Intelligence Market is valued approximately USD 11.4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 34.6% over the forecast period 2022-2028. Factors such as increased demand for virtual assistants, chatbots, and robots from different organizations, as well as the increasing requirement to evaluate exponentially larger data volumes, are driving enterprise demand for artificial intelligence. Furthermore, the transition of firms from conventional to digital platforms is increasing demand for artificial intelligence technologies in enterprises throughout the world. The rising usage of artificial intelligence in organizations to improve customer happiness, offer better organizational management, and organize data sets is one of the primary factors driving demand for artificial intelligence in enterprises.
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To meet the market’s expanding need for AI, multiple AI service providers are inventing and creating new goods and services in collaboration with various government institutes and research and development agencies. For example, in May 2022, IBM Corporation announced a strategic relationship with Mohamed bin Zayed Institution of Artificial Intelligence (MBZUAI), the first artificial intelligence research university in Abu Dhabi, United Arab Emirates (UAE). The partnership focuses on the progress of fundamental AI research as well as the acceleration of other sorts of scientific discoveries that would increase AI’s capacity to assist overcome future difficulties. The rising need for artificial intelligence technologies in emerging nations presents a substantial potential for corporate AI service providers. According to a study published in June 2020 by MIT Technology in collaboration with the United States-based software company Genesys, artificial intelligence (AI) is providing growth opportunities in the Latin American region by assisting in the resolution of numerous critical issues such as food security, unemployment, smart cities, and natural resources. However, the high cost of Enterprise Artificial Intelligence restrains market growth from 2022 to 2028.
The key regions considered for the Global Enterprise Artificial Intelligence Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated in terms of revenue. The presence of prominent firms that produce AI solutions and services, technological infrastructure facilities, and a large number of end-users using data management devices are pushing the market in the area. During the projection period, Asia-Pacific is predicted to have the quickest CAGR. The rising acceptance of AI and the installation of data management platforms that address concerns such as privacy and security, team collaboration, and the formation of moral standards for organizations may be ascribed to regional growth.
Major market player included in this report are:
Amazon Web Services, Inc.
IBM Corporation
Microsoft Corporation
Oracle Corporation
Intel Corporation
Alphabet Inc.
SAP SE
C3.ai, Inc.
DataRobot, Inc.
Hewlett Packard Enterprise Development LP
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
By Deployment:
Cloud
On-premises
By Technology:
Natural Language Processing (NLP)
Machine Learning
Computer Vision
Speech Recognition
Others
By Organization:
Large Enterprises
Small And Medium Enterprises
By End-use:
Media & Advertising
Retail
BFSI
IT & Telecom
Healthcare
Automotive & Transportation
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Market research objective you provided focuses on conducting a comprehensive analysis of a specific market. Here is a breakdown of the research objectives you mentioned:
To analyze and forecast the market size of the market:
- This objective involves assessing the current market size and using historical data and market trends to forecast its future size.
- This analysis helps in understanding the market’s growth potential and opportunities.
To classify and forecast the global market based on product, material, application, and region:
- This objective aims to categorize the market based on different factors such as product types, materials used, applications, and geographical regions.
- It also involves forecasting the market size and growth for each category, providing a detailed understanding of market segmentation.
To identify drivers and challenges for the global market:
- This objective focuses on identifying the factors that drive market growth and those that pose challenges or constraints.
- Understanding the drivers helps in recognizing opportunities, while understanding the challenges allows for mitigation strategies and informed decision-making.
To examine competitive developments such as mergers & acquisitions, agreements, collaborations, and partnerships in the market:
- This objective involves analyzing the competitive landscape of the market. It includes studying activities such as mergers and acquisitions, agreements, collaborations, and partnerships among market players.
- This analysis provides insights into the market’s competitive dynamics and strategic moves by key players.
To conduct pricing analysis for the market:
- This objective aims to analyze pricing strategies within the market. It involves assessing pricing trends, price variations based on different factors, and understanding price sensitivity among customers.
- This analysis helps in formulating effective pricing strategies for market players.
To identify and analyze the profile of leading players operating in the market:
- This objective involves profiling and analyzing the key players in the market. It includes studying their business strategies, financial performance, product portfolios, market share, and competitive advantages.
- This analysis helps in understanding the competitive landscape and benchmarking against industry leaders.
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