The Enterprise AI Market is expected to grow from USD 3.27 in 2020 to USD 25 billion by 2026 at a CAGR of 44.9% from 2020 to 2026.
Enterprise AI is the capability to embed AI methodology, which integrates the human capacities for understanding, learning and interaction all at a level of complexity which assists the enterprises to estimate business outcomes. Integrating enterprise AI in the company at all level performs as an organizational asset necessary for the success of businesses. Few enterprises are utilizing artificial intelligence (AI) technology for analyzing customers and identifying frauds & risks and using machine learning for taking preventive measures. The rise in number of innovative start-ups and improvements in technology have resulted in increase in investment in artificial intelligence technologies. In addition, the surging demand for analyzing and interpreting huge amount of data fuels the need for artificial intelligence industry solutions. Furthermore, the development of more authentic cloud computing infrastructures and improvements in dynamic artificial intelligence solutions have a significant impact on the growth potential of the AI enterprise market. The ability of the AI technology to analyze the gather data efficiently and forecast decisions through vital algorithms helps in productivity improvement; for example, Netflix suggests movies based on the users’ past viewing experiences. In the present business scenario, AI has transformed business management with the combination of workflow management tools, trend predictions, brand purchase advertising and other tools. These are the key factors for the rising investment in AI technologies. Furthermore, various small startups and tech companies have been investing in the adoption of open-source AI platforms to attain higher efficiencies in their value chains. Moreover, the increase in availability of less cost quality AI technologies, rise in internet penetration, growth in cloud based services and rise in IoT technology is expected to also contribute toward the enterprise artificial intelligence market growth. Additionally, it has proved to be beneficial for enterprises in a wide range of areas which change how enterprises communicate, innovate and improve their processes. Some of the key end-use industries using artificial intelligence services are government, retail, financial services, automotive, manufacturing and advertising to name a few. Besides, the limited trained and experienced staff hampers the growth of the enterprise AI market.
Moreover, rise in adoption of AI in developing countries, such as China and India are projected to create major opportunities for the market growth in the coming years. Also, continuous developments in smart virtual assistants and robots are also projected to be opportunistic for the growth of the enterprise artificial intelligence (AI) market.
The global Enterprise AI Market is segregated on the basis of component as Solution and Services. Based on Deployment Type the global Enterprise AI Market is segmented in Cloud and On-premises. Based on Application the global Enterprise AI Market is segmented in Security and risk management, Marketing management, Customer support and experience, Human resource and recruitment management, Analytics application and Process automation.
The global Enterprise AI Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The Enterprise AI Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.
Competitive Analysis
Intel Corporation, Sentient Technologies, Google, Inc., Wipro, Oracle Corporation and others are among the major players in the global Enterprise AI Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.
The global Enterprise AI Market has been segmented as below:
Enterprise AI Market, By Component
Enterprise AI Market, By Deployment Type
Enterprise AI Market, By Application
Enterprise AI Market, By Region
Enterprise AI Market, By Company
The report covers the below scope:
The years considered for the study are as follows:
Report Scope:
The global Enterprise AI Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global Enterprise AI Market share. Major industry players with significant revenue share include Intel Corporation, Sentient Technologies, Google, Inc., Wipro, Oracle Corporation and others.
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1. Introduction
1.1. Key Points
1.2. Report Description
1.3. Markets Covered
1.4. Stakeholders
2. Research Methodology
2.1. Research Scope
2.2. Research Methodology
2.2.1. Market Research Process
2.2.2. Research Methodology
2.2.2.1. Secondary Research
2.2.2.2. Primary Research
2.2.2.3. Models for Estimation
2.3. Market Size Estimation
2.3.1. Bottom-Up Approach
2.3.2. Top-Down Approach
3. Executive Summary
4. Market Overview
4.1. Introduction
4.2. Drivers
4.3. Restraints
4.4. Opportunities
4.5. Challenges
5. Enterprise AI Market, By Component
5.1. Key Points
5.2. Solution
5.3. Services
6. Enterprise AI Market, By Deployment Type
6.1. Key Points
6.2. Cloud
6.3. On-premises
7. Enterprise AI Market, By Application
7.1. Key Points
7.2. Security and risk management
7.3. Marketing management
7.4. Customer support and experience
7.5. Human resource and recruitment management
7.6. Analytics application
7.7. Process automation
8. Competitive Landscape
8.1. Introduction
8.2. Start-up companies- Enterprise AI Market
8.3. Recent Developments
8.3.1. Mergers & Acquisitions
8.3.2. New Product Developments
8.3.3. Portfolio/Production Capacity Expansions
8.3.4. Joint Ventures, Collaborations, Partnerships & Agreements
8.3.5. Others
9. Company Profile
9.1. Intel Corporation
9.2. Sentient Technologies
9.3. Google, Inc.
9.4. Wipro
9.5. Oracle Corporation
9.6. AWS
9.7. SAP
9.8. Microsoft
9.9. HPE
9.10. Alphabet Inc.
9.11. Apple Inc.
9.12. Amazon Web Services, Inc.
9.13. International Business Machines Corporation
Enterprise AI Market, By Component
Enterprise AI Market, By Deployment Type
Enterprise AI Market, By Application
Enterprise AI Market, By Company