Global Enterprise AI Market is projected to reach a value of over USD 30.8 billion by 2027

Enterprise AI Market: Summary

The Global is projected to reach a value of over USD 30.8 billion by 2027 at a CAGR of around 49%.

Artificial Intelligence (AI) refers to a major branch of computer science which helps in reducing the human errors and for decision making process. Whereas, the Enterprise AI has the ability to implant AI to enhance the learning, interaction and perception for the enterprise to project the business growth. As well as it can be used for analyzing the customer experience and fraud detection. However, there was various commercial deployment of AI is enhancing significantly around the globe.

Hence, it will boost the business processes as well as sales processes which will lead to enhance the demand of the enterprise AI market in the forecast period.

Enterprise AI Market: Drivers & Challenges

Market Driver:

  • Rising Artificial Intelligence based Cognitive Solution

Rising artificial intelligence-based cognitive solutions is witness to increase the demand of the market in the forecast period. Whereas the significant growth in machine learning will also advance the AI solution for the business growth. Also, it has the ability to enhance the enterprise performance and productivity with the help of automation process or by human power. Moreover, in 2017 the Netflix has use machine learning for the level of personalization which help the company to improve its user by more than 20%. Moreover, it will provide in house as well as out of the box solution for the enterprise which allows the business to customize needs and solutions.

Hence, the increasing demand enterprise function and innovation across industries are creating an opportunity for the growth of AI for the business.

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Market Challenges:

  • Lack of Trained and Experienced Staff

One of the major key concern of the enterprise AI market is the lack of trained and experienced staff which may hamper the market growth. However, the machine learning and artificial intelligence requires an advance skills to process the data correctly. As well as setting up the AI based services require a high cost of investment and complexity. Also, this software need a regular upgardation to deal the requirements of the rapid changing environments.

Hence, the various IT framework of the business have also not be adequate to support the artificial intelligence workloads for the future. These will lead to hinder the growth of the enterprise AI market in the forecast period.

Enterprise AI Market: Key Segments

  • Segmentation based on Components: Solution and Services
  • Segmentation based on Deployment: Cloud and On-Premises
  • Segmentation based on Technology Type: Machine Learning and Deep Learning and Natural Language Processing.
  • Segmentation based on Application: Customer Support, Security and Risk Management, Process Automation, HR and Recruitment Management, Marketing Management and Analytics Application.
  • Segmentation based on End-Use: Government, Banking, Financial Services and Insurance (BFSI), Energy and Utilities, Manufacturing, Media and Entertainment, Healthcare, and Retail and Others.
  • Segmentation based on region covers: North America, Europe, Asia-Pacific, Middle East & Africa and South America with individual country-level analysis.

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Enterprise AI Market: Report Scope

The report on the enterprise AI market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features

Specifics

Historical/Estimated/Forecasted Market Size Years

2019–2027

Base Year for Market Calculation

2020

Forecasted Period

2021–2027 (2021 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million)

Segments Included

Components, Deployment, Technology Type, Application, End-Use, and Region

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South America

Key Companies Covered

  • IBM Corporation (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Microsoft
  • Alphabet Inc. (Google Inc.)
  • Amazon Web Services, Inc.
  • SAP SE
  • Intel Corporation
  • Oracle
  • Hewlett Packard Enterprise Development LP
  • Wipro Limited
  • Sensient Technologies Corporation
  • Other Key Companies
  • IPsoft Inc.
  • Verint

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Enterprise AI Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Enterprise AI Market, by Component

  • Solution
  • Services
  • Managed Services
  • Professional Services

Enterprise AI Market, by Deployment

  • Cloud
  • On-Premises

Enterprise AI Market, by Technology Type

  • Machine Learning and Deep Learning
  • Natural Language Processing

Enterprise AI Market, by Application

  • Customer Support
  • Security and Risk Management
  • Process Automation
  • HR and Recruitment Management
  • Marketing Management
  • Analytics Application

Enterprise AI Market, by End-Use

  • Government
  • Banking, Financial Services and Insurance (BFSI)
  • Energy and Utilities
  • Manufacturing
  • Media and Entertainment
  • Healthcare
  • Retail
  • Others

Enterprise AI Market, by Region

  • North America
  • US
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • Taiwan
  • South Korea
  • Rest of Asia-Pacific
  • Europe
  • Germany
  • France
  • Italy
  • UK
  • Russia
  • Rest of Europe
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa
  • South America
  • Brazil
  • Argentina
  • Rest of South America

Key Questions Answered By The Report

  • What are the prominent developments affecting the market worldwide and its growth?
  • What will be the impact of the developments in the market on the industry and on the market players in the future?
  • What are the evolving variations of the market globally?
  • What are the evolving functions of the market globally?
  • What are the prominent aspects that will affect market growth globally during the study period?
  • Who are the key players operating in the market across the globe?
  • How are the key players leveraging in the present market scenario worldwide?

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Table of Content

1 Introduction

2 Research Design & Scope

3 Executive Summary

4 Market Dynamics

5 Industry Trends — Porters Five Forces Analysis

6 GLOBAL ENTERPRISE AI MARKET BY COMPONENT, Market Size in USD Million (2019–2027)

7 GLOBAL ENTERPRISE AI MARKET BY DEPLOYMENT, Market Size in USD Million (2019–2027)

8 GLOBAL ENTERPRISE AI MARKET BY TECHNOLOGY TYPE, Market Size in USD Million (2019–2027)

9 GLOBAL ENTERPRISE AI MARKET BY APPLICATION, Market Size in USD Million (2019–2027)

10 Competitive Landscape

11 Company Profiles

12 Appendix

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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