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