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Soaring Growth in Enterprise Artificial Intelligence Market: Insights on the Projected Market Size, CAGR, Drivers, and Trends
Soaring Growth in Enterprise Artificial Intelligence Market
What Is The Projected Market Size Of The Global Enterprise Artificial Intelligence Market And Its Growth Rate?
• The enterprise artificial intelligence market will expand from $20.42 billion in 2024 to $28.54 billion in 2025, indicating a compound annual growth rate (CAGR) of 39.8%.
• This growth can be attributed to advancements in machine learning algorithms, large-scale developments in big data and data analytics, the proliferation of cloud computing, and increased computing power and processing speed.
• The enterprise artificial intelligence market is expected to grow exponentially to $118.51 billion in 2029 at a CAGR of 42.7% due to factors such as the integration of AI in cybersecurity solutions, the growth of explainable AI for transparency, and increased adoption of AI in human resources.
What Is Driving The Growth In The Enterprise Artificial Intelligence Market?
The rise in the adoption of AI in businesses of various sizes is significantly driving the growth of the enterprise artificial intelligence market. AI technology improves the decision-making process in enterprises by simulating human intelligence processes for analyzing massive volumes of data and improving efficiency. According to IBM's Global AI Adoption Index 2022, 35% of organizations use AI at work, and another 42% are considering adopting it in 2022.
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Who Are The Key Players Driving Enterprise AI Market Growth?
Major enterprises contributing to the growth of the artificial intelligence market include:
• International Business Machines (IBM)
• Wipro Limited
• Amazon Web Services
• Intel Corporation
• Google LLC
• SAP SE
• Oracle Corporation
• Hewlett Packard Enterprise
• IPsoft Inc.
• MicroStrategy Incorporated
• NVIDIA Corporation
• Verint Systems Inc.
• SAS Institute Inc.
• Accentur*e plc
• Appen Limited.
• Dataiku Ltd.
• DataRobot Inc.
• Dell Technologies Inc.
• Deloitte Touche Tohmatsu Limited
• Freenome Holdings Inc.
• Infosys Limited
• KPMG International Limited
• Mindtree Limited
• NTT DATA Group Corporation
• Palantir Technologies
• PricewaterhouseCoopers International Ltd.
• Salesforce Inc.
• Samsung Group
What Are The Key Trends In The Enterprise Artificial Intelligence Market?
Major trends propelling the market:
• Development of AI-driven chatbots and virtual assistants
• Integration of AI with the Internet of Things (IoT)
• Emergence of edge AI for real-time processing
• Adoption of AI in supply chain and logistics
• Emphasis on AI-powered personalization in customer experience
What Are The Segments Of The Global Enterprise Artificial Intelligence Market?
The enterprise artificial intelligence market is segmented into:
1) By Component: Solution, Service
2) By Technology: Machine Learning, Natural Language Processing (NLP), Image Processing, Speech Recognition
3) By Deployment Type: Cloud, On-Premise
4) By Application: Security And Risk Management, Marketing Management, Customer Support And Experience, Human Resource And Recruitment Management, Analytics Application, Process Automation
5) By Industry: Retail, Healthcare, Automotive, Banking And Financial Services, Media And Entertainment, Other Industries
Which Region Leads The Enterprise Artificial Intelligence Market?
North America dominated the enterprise artificial intelligence market in 2024. However, Asia-Pacific is expected to present the fastest growth rate during the forecast period. Other regions covered include Western Europe, Eastern Europe, South America, the Middle East, and Africa.
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What Is Covered In The Enterprise Artificial Intelligence Market Global Market Report?
- Market Size Analysis: Analyze the Enterprise Artificial Intelligence Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Enterprise Artificial Intelligence Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Enterprise Artificial Intelligence Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Enterprise Artificial Intelligence Market .
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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