Enterprise Artificial Intelligence Market to Grow with a CAGR of 34.59% Globally through to 2028
Enterprise Artificial Intelligence is increasing due
to the rising demand for AI-based solutions across industries to enhance
operations, customer experiences and make more informed business decisions in
the forecast period, 2024-2028.
According to TechSci Research report, “Global Enterprise
Artificial Intelligence Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028
Global Enterprise Artificial Intelligence market has
witnessed tremendous growth in recent years, reaching a valuation of USD 11.49 billion
in 2022. The market is projected to continue its strong upward trajectory,
posting a CAGR of 34.59% from 2024 to 2028.
Global Enterprise Artificial Intelligence market has
witnessed significant growth in recent years, propelled by its widespread
adoption across various industries globally. Critical business functions such
as predictive maintenance, supply chain management, fraud detection, and
cybersecurity have recognized AI-powered solutions as vital tools for
developing accurate models, optimizing processes and improving experiences.
Stricter compliance regulations around data privacy,
predictive analytics, and workflow automation have compelled organizations to
invest heavily in digital transformation initiatives using AI. Companies
worldwide rely on robust AI platforms and technologies to ensure regulatory
compliance and extract maximum value from data assets.
To address unique use cases, AI solution providers are
partnering with enterprises to develop customized solutions. These
collaborations have resulted in integrated systems enabling applications such
as personalized recommendations, demand forecasting, and real-time process
monitoring. Advanced AI platforms equipped with analytics dashboards allow
data-driven decision making and enhanced oversight of projects.
The development of innovative capabilities such as
machine learning, natural language processing and computer vision is also
fueling market demand. Such solutions help businesses improve a broader range
of metrics including productivity, and time-to-market.
Integration of AI functionalities with existing ERP
systems, CRM platforms and process automation solutions is poised to
revolutionize how organizations manage operations and optimize resource
allocation. This fusion of technologies promises improved insights, higher
stakeholder satisfaction, and analytics-driven operations.
Government policies promoting technology adoption,
workforce upskilling, and cybersecurity best practices will continue driving
investments in digital transformation initiatives powered by AI. As industries
increasingly rely on data and analytics, demand for advanced AI-powered
solutions is projected to rise substantially over the coming years.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Enterprise
Artificial Intelligence Market.”
The global Enterprise Artificial
Intelligence market is segmented by deployment type, technology, industry
vertical and region.
Based on deployment type, the market is
bifurcated into cloud and on-premises. In 2022, the cloud segment dominated the
market owing to the scalability, flexibility and cost-effectiveness offered by
cloud-based AI solutions.
Based on technology, the market is
categorized into machine learning, natural language processing, computer
vision, speech recognition and others. Among these, the machine learning
segment captured the largest share in 2022 due to wide applications across
industries.
In terms of industry vertical, the
market covers segments such as IT & telecom, BFSI, healthcare, automotive,
government & defense, retail and others. The healthcare vertical dominated
in 2022 on account of expanding application of AI in drug discovery, disease
diagnosis and clinical trials.
Regionally, North America held the major
market share in 2022 followed by Europe and Asia Pacific. Going forward, the
cloud deployment type, machine learning technology and healthcare vertical are
expected to witness highest growth rate during the forecast period. This can be
attributed to growing adoption of cloud-based AI-as-a-service solutions,
increasing R&D activities in machine learning and expanding application
scope of AI in the healthcare industry.
In summary, the cloud segment, machine
learning technology, healthcare vertical and North America region held the
dominant position while cloud deployment, machine learning and healthcare
vertical are projected to emerge as the fastest growing segments in the global
Enterprise Artificial Intelligence market during 2023-2032..
Major companies operating in Global Enterprise
Artificial Intelligence Market are:
- Intel Corporation
- IBM Corporation
- Amazon Web Services, Inc
- Google, LLC
- Microsoft Corporation
- SAP SE
- Salesforce, Inc.
- Fair Isaac Corporation
- SAS Institute Inc
- Oracle Corporation
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“The global Enterprise Artificial Intelligence market
has witnessed rapid growth fueled by increasing adoption of AI and machine
learning technologies across various industries. Enterprises, manufacturing
facilities, and research organizations have increasingly relied on AI-powered
solutions to develop accurate models, optimize business processes, product
development strategies and operations through data-driven insights.
Enterprise AI solutions enable real-time access to
centralized metrics on model performance, analytics dashboards, and data
profiles. This allows organizations to generate predictive analytics, automate
quality assurance procedures, and ensure compliance standards. Such solutions
help customize data management protocols, streamline administrative workflows,
and strengthen overall data governance.
Leading companies have partnered with major Enterprise
AI platform vendors to digitally transform their data and analytics
infrastructure as well as data-driven decision making capabilities. The
integrated systems improve cross-departmental collaboration, provide
situational awareness through customized portals, and facilitate achievement of
strategic business goals.
Vendors continue advancing their solutions through
innovations in areas like active learning, process automation, and data
security. This ensures secure, scalable, and interoperable solutions for
diverse needs across different business units, product lines, and geography.
Ongoing innovation and growing reliance on data-driven strategies indicate
Enterprise AI will play an increasingly important role in optimizing
organizational effectiveness.
Partnerships and alignment with emerging industry
standards are expected to sustain the high momentum of this market. The
long-term outlook for data-driven decision making powered by Enterprise AI
solutions remains positive as digital transformation continues to reshape
business models.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Enterprise
Artificial Intelligence Market by
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Deployment Type
(Cloud, On-premises),
By Technology (Machine learning, Natural language processing, Computer
vision, Speech recognition, Others) By Industry Vertical (IT and telecom, BFSI, Automotive, Healthcare, Government
and Défense, Retail, Others) By Region, By Competition”, has evaluated the future growth potential of Global
Enterprise Artificial Intelligence Market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in Global Enterprise Artificial Intelligence
Market.
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