Enterprise AI Market Overview:
As per Maximize Market Research, a global business research and consultancy firm, the total global market for “Enterprise AI Market” has valued at US$ 6141.5 Mn in 2022. The Global Enterprise AI Market size is estimated to grow at a CAGR of 48.7% over the forecast period.
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Enterprise AI Market Dynamics:
Artificial intelligence (AI) has made it possible for computer systems to design and complete tasks like speech recognition, decision-making, visual perception, and language translation that otherwise require human assistance and interaction. As this technology is created and enhanced, manufacturers in the enterprise artificial intelligence (AI) sector face considerable intellectual challenges. Increased consumer satisfaction, a wide range of application areas, increased productivity, and big data integration are the main factors driving the AI market. But some market constraints include a lack of qualified labour, threats to human dignity, and other issues. Still, it is projected that the impact of these factors would be extremely minimal given the introduction of new technology to the market.
Enterprise AI Market Scope and Methodology
The primary source involved interviews with significant market leaders and industry experts including business owners and marketing specialists while secondary sources are a combination of the reviews of the financial and annual reports of top manufacturers. For better information on market penetration, competitive landscape demand analysis, and regional analysis are taken at the local, regional, and global levels. The report analyses an estimation of the market size of the Enterprise AI market along with current as well as future trends. The report provides an in-depth analysis of the key development, marketing strategies, supply side and demand side indicators and company profiles of the market owners, market leaders, potential players and new entrants. The bottom-up approach was used in the report to estimate the Enterprise AI Market. The primary and secondary data sources were used to collect data.
Enterprise AI Market Segmentation:
by Deployment Type
Cloud
On-Premises
by Industry Vertical
IT and Telecommunication
Retail
Banking
Financial Services and Insurance
Government and Public sector
Healthcare
Media and Entertainment
Manufacturing
Education
by Technology
Machine Learning
Natural Language Processing
Image Processing
Speech Recognition
The cloud segment, which dominated the market in 2022 based on deployment type, is anticipated to provide the most revenue for the enterprise artificial intelligence market throughout the projected period. Businesses are quickly making the switch to cloud storage. It is anticipated that the cloud segment would expand significantly due to the growing trend of business adoption. The market segment is expanding as a result of the expansion of on-premise Artificial Intelligence (AI) solutions and services in industries like production and manufacturing.
The enterprise AI market was technologically driven by the machine learning category, which is expected to continue to lead during the projected period. The segment involved in image processing is anticipated to grow at the fastest rate. Accurate picture analysis will be achievable over the projected period thanks to AI’s image processing technology, which also has the potential to find harmful abnormalities and drastically reduce false-positive rates. A higher CAGR is projected for the technology section throughout the course of the forecast period. Machine learning and Natural Language Processing (NLP) applications rely largely on enterprise AI market services to function properly and successfully.
To properly integrate AI technology with business modules and the current working environment, services are required. The technology market’s NLP segment is predicted to grow at a.
Because so many startups have been investing in artificial intelligence solutions, the IT & telecom industry is anticipated to contribute the biggest enterprise Artificial Intelligence (AI) market share during the projection period. Growing urbanisation, technological advancement, and an increase in the demand for cloud applications are driving the demand for AI technology in developing nations. one of the industries using AI technology most extensively is the automobile and transportation industry. Artificial intelligence has made it possible for this business to grow extremely quickly because of the rising consumer demand for linked and smart cars. For instance, businesses like Tesla and Morris Garages (MG) have already developed connected and smart cars. With more than 50 integrated features.
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Enterprise AI Market Key Players:
1.IBM (US)
2.AWS (US)
3.Intel (US)
4.Google (US)
5.HPE (US)
6.Oracle (US)
7.Microsoft (US)
8.Sentient Technologies (US)
9.SAP (Germany)
10.Wipro (India)
11.Apple Inc. (US)
12.Alphabet Inc. (US)
13.Verint Systems Inc. (US)
14.MicroStrategy Incorporated (US)
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Enterprise AI Market Regional Insights:
The Enterprise AI market demonstrates extensive segmentation across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The report offers a comprehensive evaluation of various aspects, encompassing factors, market dimensions, growth pace, and regional import-export dynamics. This analysis delves into both local and country levels within each region.
Key questions answered in the Enterprise AI Market are:
- What is Enterprise AI?
- What was the Enterprise AI market size in 2022?
- What are the different segments of the Enterprise AI Market?
- What growth strategies are the players considering to increase their presence in Enterprise AI?
- What are the upcoming industry applications and trends for the Enterprise AI Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Enterprise AI Market?
- Who are the key players in the Enterprise AI market?
- What segments are covered in the Enterprise AI Market?
- Who are the leading companies and what are their portfolios in Enterprise AI Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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