Enterprise Artificial Intelligence Market Outlook -2030
The global enterprise artificial intelligence market size is expected to grow at a CAGR of 34.60% during the forecast period 2022-2030. The market is being driven by the increasing adoption of artificial intelligence (AI) by enterprises to improve their business processes and operations. AI is being used by enterprises to automate tasks, improve decision-making, and increase customer satisfaction.
Segmentation
The enterprise AI market can be segmented by component, technology, deployment mode, organization size, and industry vertical.
- By component: The market can be segmented into hardware, software, and services. The software segment is expected to be the largest segment during the forecast period.
- By technology: The market can be segmented into machine learning, natural language processing, context-aware computing, and computer vision. The machine learning segment is expected to be the largest segment during the forecast period.
- By deployment mode: The market can be segmented into on-premises and cloud. The cloud segment is expected to be the fastest-growing segment during the forecast period.
- By organization size: The market can be segmented into large enterprises and small and medium-sized enterprises (SMEs). The large enterprises segment is expected to be the largest segment during the forecast period.
- By industry vertical: The market can be segmented into healthcare, manufacturing, retail, financial services, and others. The healthcare segment is expected to be the largest segment during the forecast period.
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Regional Analysis
The enterprise AI market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is expected to be the largest market during the forecast period. The growth of the market in North America is attributed to the early adoption of AI technologies by enterprises in the region.
Competitive Landscape
The enterprise AI market is highly competitive. The key players in the market include IBM Corporation, Google Inc., Brighterion Inc., Microsoft Corporation, Facebook, Qualcomm, Rocket Fuel Inc., Kensho Technologies, Inc., Salesforce, Infosys, and Sentient Technologies. These players are focusing on developing innovative AI solutions to meet the growing demand from enterprises.
The growth of the global enterprise artificial intelligence market is being hindered by the lack of skilled professionals and the high cost of AI solutions. However, the increasing demand for AI-powered solutions and services is expected to offset these challenges and drive the growth of the market during the forecast period.
Key Highlights of the Global Enterprise Artificial Intelligence Market
The market is expected to grow at a CAGR of 46% during the forecast period 2020-2027.
The software segment is expected to be the fastest-growing segment during the forecast period.
The machine learning segment is expected to be the largest segment during the forecast period.
The cloud segment is expected to be the fastest-growing segment during the forecast period.
The large enterprises segment is expected to be the largest segment during the forecast period.
The BFSI segment is expected to be the largest segment during the forecast period.
The key players in the market are IBM Corporation, Google Inc., Brighterion Inc., Microsoft Corporation, Facebook, Qualcomm, Rocket Fuel Inc., Kensho Technologies, Inc., Salesforce, Infosys, and Sentient Technologies.
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Conclusion
The global enterprise artificial intelligence market is expected to grow at a significant pace during the forecast period. This growth is being driven by the increasing adoption of AI by enterprises to improve their business processes and operations. The market is expected to be driven by the increasing demand for AI-powered solutions and services, the growing adoption of cloud computing, and the increasing availability of skilled professionals.
