Report Ocean has released a research study titled “Enterprise Artificial Intelligence Market 2023 Forecast to 2031 Analysis by Market Trends.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Enterprise Artificial Intelligence Market is valued approximately USD 11.4 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 34.6% over the forecast period 2022-2028. Factors such as increased demand for virtual assistants, chatbots, and robots from different organizations, as well as the increasing requirement to evaluate exponentially larger data volumes, are driving enterprise demand for artificial intelligence. Furthermore, the transition of firms from conventional to digital platforms is increasing demand for artificial intelligence technologies in enterprises throughout the world. The rising usage of artificial intelligence in organizations to improve customer happiness, offer better organizational management, and organize data sets is one of the primary factors driving demand for artificial intelligence in enterprises.
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To meet the market’s expanding need for AI, multiple AI service providers are inventing and creating new goods and services in collaboration with various government institutes and research and development agencies. For example, in May 2022, IBM Corporation announced a strategic relationship with Mohamed bin Zayed Institution of Artificial Intelligence (MBZUAI), the first artificial intelligence research university in Abu Dhabi, United Arab Emirates (UAE). The partnership focuses on the progress of fundamental AI research as well as the acceleration of other sorts of scientific discoveries that would increase AI’s capacity to assist overcome future difficulties. The rising need for artificial intelligence technologies in emerging nations presents a substantial potential for corporate AI service providers. According to a study published in June 2020 by MIT Technology in collaboration with the United States-based software company Genesys, artificial intelligence (AI) is providing growth opportunities in the Latin American region by assisting in the resolution of numerous critical issues such as food security, unemployment, smart cities, and natural resources. However, the high cost of Enterprise Artificial Intelligence restrains market growth from 2022 to 2028.
Major market player included in this report are:
Amazon Web Services, Inc.
IBM Corporation
Microsoft Corporation
Oracle Corporation
Intel Corporation
Alphabet Inc.
SAP SE
C3.ai, Inc.
DataRobot, Inc.
Hewlett Packard Enterprise Development LP
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Certainly, here are eight key trends in the Enterprise Artificial Intelligence (AI) market:
- AI-Driven Automation: The adoption of AI for process automation across industries, including customer support, data entry, and supply chain management, to improve operational efficiency.
- AI in Decision-Making: The integration of AI into decision-making processes, utilizing data-driven insights for strategic and tactical decisions in various business functions.
- Industry-Specific Solutions: The development of industry-specific AI applications, such as AI in healthcare for diagnostics, AI in finance for fraud detection, and AI in manufacturing for predictive maintenance.
- Conversational AI: The increasing use of conversational AI, chatbots, and virtual assistants to enhance customer service, streamline interactions, and offer personalized support.
- AI in Data Analytics: The utilization of AI for data analytics, predictive modeling, and data-driven insights to uncover patterns and trends, aiding in better decision-making.
- AI Ethics and Regulation: Heightened concerns about AI ethics, transparency, and regulation, leading to the development of guidelines and policies for responsible AI use.
- AI in Cybersecurity: The integration of AI into cybersecurity solutions to detect and respond to evolving cyber threats, improving organizations’ security postures.
- AI and IoT Integration: The convergence of AI and the Internet of Things (IoT), enabling advanced data analysis and automation in IoT applications, such as smart cities and connected devices.
The detailed segments and sub-segment of the market are explained below:
By Deployment:
Cloud
On-premises
By Technology:
Natural Language Processing (NLP)
Machine Learning
Computer Vision
Speech Recognition
Others
By Organization:
Large Enterprises
Small And Medium Enterprises
By End-use:
Media & Advertising
Retail
BFSI
IT & Telecom
Healthcare
Automotive & Transportation
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of Contents:
- Executive Summary
- Introduction
- Methodology
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
- Conclusion
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