The Enterprise Artificial Intelligence (AI) is generally used by businesses to automate various tasks and operations. AI solutions are helpful for enterprises to gain insights from data, automate routine tasks and streamline business processes. The global Enterprise Artificial Intelligence Market is estimated to be valued at US$ 24.75 Bn in 2023 and is expected to exhibit a CAGR of 20% over the forecast period 2024 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
AI adoption across various industries is one of the major trends driving the growth of the Enterprise AI market. Different industries such as healthcare, manufacturing, transportation etc are increasingly adopting AI technologies to automate tasks, improve operations and enhance customer experience. AI is helping organizations to personalized customer experience, increase productivity, reduce costs and make better data driven decisions. Industries are implementing AI for predictive maintenance of machinery, fraud detection, demand forecasting, supply chain optimization and many other application areas. As AI brings transformative benefits, its adoption is expected to accelerate significantly among enterprises over the coming years.
Segment Analysis
The global enterprise artificial intelligence (AI) market is dominated by the cloud-based sub-segment. Cloud-based AI tools offer enterprises tremendous scalability, reduced costs of operations and the ability to access powerful AI capabilities without hefty upfront investments. This makes cloud-based solutions the preferred choice for most enterprises.
Key Takeaways
The Global Enterprise Artificial Intelligence (AI) Market Demand is expected to witness high over the forecast period of 2024-2030. The market size is projected to reach $72.21 Bn by 2030, growing at a CAGR of 20% during the forecast period.
Regional analysis: North America currently dominates the global enterprise AI market and is expected to maintain its dominance through 2030. Early adoption of AI technologies by enterprises across industries such as retail, manufacturing, telecom and BFSI in the US and Canada has helped establish North America as the leader. The presence of key players such as IBM, AWS and Microsoft has also supported regional market growth.
Key players operating in the enterprise artificial intelligence (AI) market are ZF Friedrichshafen AG €“ Cherry, Huizhou Greetech Electronics Co. Ltd. €“ Greetech, Kaihua Electronics Co., Ltd. €“ Kaihl, Trantek Electronics Co., Ltd. €“ TTC, OMRON Corporation, Corsair, Razer Inc., Rapoo Corporation, Lenovo, Dell HP Development Company, A4TECH, and SteelSeries.
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Global Enterprise Artificial Intelligence Market: Solution (Business Intelligence, Customer Management, Sales & Marketing), Service (Professional, Managed), Deployment, Industry Vertical (Retail, Healthcare, Automotive, Aerospace) - Forecast till 2023 Market HighlightsThe rate of changes in the industrial technology is largely driven by the inception of artificial intelligence.
Artificial intelligence is not considered as a single entity but an amalgamation of a different set of technologies and building blocks that create the base for various industrial solutions.
The market for Enterprise Artificial Intelligence is expected to experience a high growth rate.
The growing amount of data sets requiring to analyze, complex data for with integration of artificial intelligence for better efficiency.Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/5794Key playersSome of the major players in global Enterprise Artificial Intelligence market include SAS Institute (U.S.), International Business Machines, Corporation (U.S.), Microsoft Corporation (U.S.), Amazon Web Services (U.S.), Intel Corporation (U.S.), Google, LLC (U.S.), SAP SE (Germany), Sentinent Technologies (U.S.), Oracle Corporation (U.S.), Hewlett Packard Enterprise (U.S.), Wipro Technologies (India) among othersOther vendors include Algolia (U.S.), CrowdFlower (U.S.), DataRobot (U.S.), Element AI (Canada), LeapMind (Japan), Petuum (U.S.), Tamr (U.S.), Trifacta (U.S.), Zendesk (U.S.), HireVue Inc (U.S.), Wade & Wendy (U.S.), Appier, Inc (Taiwan), Sapho (U.S.), Artifacia (India), Dataiku (U.S.), Cycorp, Inc (U.S.), Anodot Ltd (Israel), Arimo (U.S.) among others.Regional AnalysisOn the basis of geography, the market is studied for North America, Europe, Asia Pacific and rest of the world.
Among all the regions, the market is dominated by North America due to the higher adoption rate of technology and a rich concentration of vendors providing services and solutions for Enterprise Artificial Intelligence for different applications.
The United States is responsible for a major portion of the market growth, is due to early adoption of newer technology.
Machine reasoning is the form of enterprise artificial intelligence that helps cognitive systems acquire new knowledge and then apply it to different contexts or situations.
Machine reasoning also enables cognitive systems to process unstructured data sets in real time, which allows them to understand the relationship between concepts better.
