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Enterprise Artificial Intelligence Market Trends That Will Shape the Next Decade: Insights from AI Integration In Enterprise Solutions
Enterprise Artificial Intelligence
How Large Will the Enterprise Artificial Intelligence Market Size By 2025?
In the past few years, the enterprise artificial intelligence market has seen a significant expansion. The market value is expected to increase from $20.42 billion in 2024 to $28.54 billion in 2025, reflecting a compound annual growth rate (CAGR) of 39.8%. This rapid increase during the historical period is due to several factors including advancements in machine learning algorithms, rise in big data and data analytics, expansion in the field of cloud computing, improvement in computing capacity and processing speed, and the integration of artificial intelligence into business process automation.
How Big Is the Enterprise Artificial Intelligence Market Size Expected to Grow by 2029?
In the coming years, the enterprise artificial intelligence market is anticipated to experience significant expansion. It is projected to reach $118.51 billion by 2029, with a compound annual growth rate (CAGR) of 42.7%. This growth in the estimation period can be credited to the increased use of AI in cybersecurity measures, transparency through explainable AI, the rise of AI in the human resource sector, its extended use in healthcare and life sciences, and prioritizing responsible and ethical AI practices. Key trends in the prediction period encompass progress in AI-powered chatbots and virtual assistants, AI's integration with Internet of Things (IoT), the emergence of edge AI for immediate processing, the implementation of AI in supply chain and logistics, and the emphasis on AI-focused personalization in customer service.
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Which Key Market Drivers Powering Enterprise Artificial Intelligence Market Expansion and Growth?
The enterprise artificial intelligence market's growth is poised to be driven by the rising incorporation of AI. Artificial intelligence, which involves replicating human cognitive processes by machines for scrutinizing vast amounts of data, helps to significantly enhance efficiency and vastly improves the decision-making procedure in businesses of all sizes. A case in point is data from the IBM Global AI Adoption Index 2022 by the US-based technology corporation, International Business Machines Corporation. In May 2022, the index found that AI was being used by 35% of organizations, while another 42% stated that they were contemplating its adoption in 2022. Thus, this growing adoption of AI is fueling the expansion of the enterprise artificial intelligence market.
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Which Fast-Growing Trends Are Poised to Disrupt the Enterprise Artificial Intelligence Market?
A significant trend emerging in the enterprise artificial intelligence market is technological advancements. Leading firms in the market are concentrating on creating innovative technological solutions to strengthen their foothold. For example, Ernst & Young, a professional services network based in the UK, launched an artificial intelligence platform called EY.ai in September 2023. This platform aids organizations in incorporating AI into their operations, which assists in unlocking new financial value and improving efficiency across several business processes, such as strategy, transactions, transformation, risk, assurance, and tax. EY.ai includes generative AI capabilities, which equip client-serving teams with advanced data processing and insight generation tools to swiftly address business transformation priorities.
What Are the Emerging Segments in the Enterprise Artificial Intelligence Market?
The enterprise artificial intelligence market covered in this report is segmented -
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
Subsegments:
1) By Solution: Machine Learning Platforms, Natural Language Processing (NLP) Tools, Computer Vision Solutions, Robotic Process Automation (RPA), AI-Powered Analytics Tools
2) By Service: Consulting Services, Implementation Services, Managed AI Services, Training And Support Services
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Who Are the Global Leaders in the Enterprise Artificial Intelligence Market?
Major companies operating in the enterprise 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., 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
Which are the Top Profitable Regional Markets for the Enterprise Artificial Intelligence Industry?
North America was the largest region in the enterprise artificial intelligence market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the enterprise artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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