The global enterprise artificial intelligence market size reached US$ 22.8 Billion in 2023. Looking forward, the market is projected to reach US$ 341.5 Billion by 2032, exhibiting a growth rate (CAGR) of 35.08% during 2023-2032.
Enterprise artificial intelligence (AI) is a technology that allows businesses to leverage advanced machine and cognitive capabilities to discover and deliver organizational knowledge, data, and information. The software mirrors the human brain to solve problems through logic, make decisions, respond to evolving scenarios, and communicate with decision-makers in an organization.
Enterprise AI saves valuable time, enhances workflow, improves user experience, enables faster innovation cycles, eliminates room for human error, reduces overall costs, and promotes efficiency. As a result, it finds extensive applications across the automotive, media and advertising, healthcare, information technology (IT), telecommunications, and banking, financial services, and insurance (BFSI) industries.
Apart from this, the introduction of reliable cloud computing infrastructures and improvements in dynamic AI solutions for preventive maintenance, customer behavior analysis, and detection of fraud and risks are providing a considerable boost to the market growth. Furthermore, the widespread product adoption among several organizations for analyzing and interpreting large amounts of data is positively influencing the market growth.
Besides this, the increasing demand for AI in the healthcare industry, owing to its ability to analyze vast amounts of genomic data and ensure more accurate treatment and prevention of medical mishaps, is acting as another growth-inducing factor. Apart from this, ongoing developments in robots and smart virtual assistants, rising disposable incomes, and implementation of various government initiatives promoting industrial automation, are anticipated to drive the market toward growth.
2. What is the expected growth rate of the global enterprise artificial intelligence market during 2024-2032?
3. What are the key factors driving the global enterprise artificial intelligence market?
4. What has been the impact of COVID-19 on the global enterprise artificial intelligence market?
5. What is the breakup of the global enterprise artificial intelligence market based on the component?
6. What is the breakup of the global enterprise artificial intelligence market based on the deployment mode?
7. What is the breakup of the global enterprise artificial intelligence market based on the technology?
8. What is the breakup of the global enterprise artificial intelligence market based on the organization size?
9. What is the breakup of the global enterprise artificial intelligence market based on the industry vertical?
10. What are the key regions in the global enterprise artificial intelligence market?
11. Who are the key players/companies in the global enterprise artificial intelligence market?
Enterprise artificial intelligence (AI) is a technology that allows businesses to leverage advanced machine and cognitive capabilities to discover and deliver organizational knowledge, data, and information. The software mirrors the human brain to solve problems through logic, make decisions, respond to evolving scenarios, and communicate with decision-makers in an organization.
Enterprise AI saves valuable time, enhances workflow, improves user experience, enables faster innovation cycles, eliminates room for human error, reduces overall costs, and promotes efficiency. As a result, it finds extensive applications across the automotive, media and advertising, healthcare, information technology (IT), telecommunications, and banking, financial services, and insurance (BFSI) industries.
Enterprise Artificial Intelligence Market Trends
The increasing digitization of end-use industries is one of the key factors driving the market growth. Additionally, the significant expansion in the manufacturing sector due to emerging trends such as industrial robots, self-driving vehicles, digital manufacturing, Industrial Internet of Things (IIOT), edge computing, and augmented and virtual reality (AR/VR), is favoring the market growth. Such solutions assist in making manufacturing processes more agile, flexible, and personalized.Apart from this, the introduction of reliable cloud computing infrastructures and improvements in dynamic AI solutions for preventive maintenance, customer behavior analysis, and detection of fraud and risks are providing a considerable boost to the market growth. Furthermore, the widespread product adoption among several organizations for analyzing and interpreting large amounts of data is positively influencing the market growth.
Besides this, the increasing demand for AI in the healthcare industry, owing to its ability to analyze vast amounts of genomic data and ensure more accurate treatment and prevention of medical mishaps, is acting as another growth-inducing factor. Apart from this, ongoing developments in robots and smart virtual assistants, rising disposable incomes, and implementation of various government initiatives promoting industrial automation, are anticipated to drive the market toward growth.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global enterprise artificial intelligence market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on component, deployment mode, technology, organization size and industry vertical.Breakup by Component:
- Solution
- Services
Breakup by Deployment Mode:
- Cloud
- On-premises
Breakup by Technology:
- Natural Language Processing (NLP)
- Machine Learning
- Computer Vision
- Speech Recognition
- Others
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Industry Vertical:
- BFSI
- Media and Advertising
- IT and Telecom
- Retail
- Healthcare
- Automotive and Transportation
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc.), C3.ai Inc., DataRobot Inc., Google LLC, Hewlett Packard Enterprise Company, International Business Machines Corporation, Microsoft Corporation, NVIDIA Corporation, Oracle Corporation, SAP SE, Sentient.io Pte Ltd, Verint Systems Inc. and Wipro Limited.Key Questions Answered in This Report
1. What was the size of the global enterprise artificial intelligence market in 2023?2. What is the expected growth rate of the global enterprise artificial intelligence market during 2024-2032?
3. What are the key factors driving the global enterprise artificial intelligence market?
4. What has been the impact of COVID-19 on the global enterprise artificial intelligence market?
5. What is the breakup of the global enterprise artificial intelligence market based on the component?
6. What is the breakup of the global enterprise artificial intelligence market based on the deployment mode?
7. What is the breakup of the global enterprise artificial intelligence market based on the technology?
8. What is the breakup of the global enterprise artificial intelligence market based on the organization size?
9. What is the breakup of the global enterprise artificial intelligence market based on the industry vertical?
10. What are the key regions in the global enterprise artificial intelligence market?
11. Who are the key players/companies in the global enterprise artificial intelligence market?
Table of Contents
1 Preface3 Executive Summary13 Value Chain Analysis15 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Enterprise Artificial Intelligence Market
6 Market Breakup by Component
7 Market Breakup by Deployment Mode
8 Market Breakup by Technology
9 Market Breakup by Organization Size
10 Market Breakup by Industry Vertical
11 Market Breakup by Region
12 SWOT Analysis
14 Porters Five Forces Analysis
16 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Amazon Web Services Inc. (Amazon.com Inc.)
- C3.ai Inc.
- DataRobot Inc.
- Google LLC
- Hewlett Packard Enterprise Company
- International Business Machines Corporation
- Microsoft Corporation
- NVIDIA Corporation
- Oracle Corporation
- SAP SE
- Sentient.io Pte Ltd
- Verint Systems Inc.
- Wipro Limited
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 136 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 22.8 Billion |
| Forecasted Market Value ( USD | $ 341.5 Billion |
| Compound Annual Growth Rate | 35.0% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
