Enterprise Artificial Intelligence Market Report Explores Size, Share and Growth Potential

Enterprise Artificial Intelligence Market expands as businesses leverage AI for automation and insights.

AUSTIN, TEXAS, UNITED STATES, June 17, 2024 /EINPresswire.com/ -- Market Scope and Overview

The Enterprise Artificial Intelligence Market was valued at USD 19.40 Billion in 2023, with an Estimated CAGR of 34.8% to reach USD 211.4 Billion by 2031 as per the SNS Insider report. The enterprise artificial intelligence market is driven by a combination of factors. Companies are embracing automation and digitization, with AI playing a key role in automating tasks, analyzing large amounts of data, and providing valuable insights The ever-increasing volume of data is not a challenge to the advanced AI capabilities, and provides businesses can unlock their potential and make data-driven decisions. Additionally, AI is transforming customer service with chatbots and virtual assistants, increasing satisfaction and loyalty. From automating repetitive tasks to optimizing supply chains, AI is streamlining operations across industries, delivering cost savings and improving efficiency.

Companies are also using AI for innovation, with AI automating R&D processes, anticipating market trends, accelerating product and service innovation, and again, government support through R&D programs and supportive legislation is driving the market forward. Cybersecurity is also evolving from AI, with AI-powered solutions easily detecting threats and automating security responses. Finally, the increasing availability and affordability of AI solutions, thanks to cloud-based services, facilitate the adoption of AI by businesses of all sizes This powerful combination creates fertile ground for collaboration The Enterprise Artificial Intelligence market continues to evolve, where AI is not just business operations. Instead, it is poised to transform the entire global economy as well.

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Some of the Major Key Players Studied in this Report are:

➤ SAP SE
➤ DataRobot
➤ Microsoft Corporation
➤ Oracle Corporation
➤ NVidia Corporation
➤ Amazon Web Services
➤ Intel Corporation
➤ Hewlett Packard Enterprise
➤ IBM Corporation
➤ Alphabet
➤ C3.ai
➤ Wipro Limited
➤ Apple Inc
➤ IPsoft
➤ Others

Market Segmentation Analysis

The computing world is witnessing an exciting race between cloud and off-the-shelf solutions, each booming for specific reasons Cloud computing is the star of the show right now, and it’s growing in popularity because of its flexibility and size. Companies can easily upgrade their computing infrastructure as needed, eliminating the burden of maintaining new hardware or software. Additionally, cloud solutions are cost-effective, and companies only pay for their use. This coupled with the ease with which data and applications can be accessed from anywhere with an internet connection (a boon for remote teams) makes cloud computing incredibly attractive and also mitigates security concerns, as cloud providers continue to deliver, they invest in strong data security measures.

However, on-premise computing isn’t going anywhere. In addition to companies with strict data security regulations or companies handling highly sensitive information that often find comfort in the control and privacy provided by campus servers, some companies with specific needs find it easy to modify their hardware and software on-site.

Market Segmentation and Sub-Segmentation Included Are:

By Deployment

➤ Cloud
➤ On-premises

By Organization size

➤ Large Enterprises
➤ Small And Medium Enterprises

By Technology

➤ Natural Language Processing (NLP)
➤ Machine Learning
➤ Computer Vision
➤ Speech Recognition
➤ Others

By Application Area

➤ Security and risk management
➤ Marketing management
➤ Customer support and experience
➤ Human resource and recruitment management
➤ Analytics application
➤ Process automation

By End-use

➤ Media & Advertising
➤ Retail
➤ BFSI
➤ IT & Telecom
➤ Healthcare
➤ Automotive & Transportation
➤ Others

Factors Boosting Market Growth

The Enterprise Artificial Intelligence market is a crowded space with tech titans like Microsoft and Google vying with new startups for dominance. These tech giants offer comprehensive AI suites and cloud solutions for a variety of business needs, from data analytics to automation. Even traditional software companies are jumping on the AI bandwagon, integrating disruptive AI-focused startups into their existing offerings like Adobe marketing tools and Salesforce CRM platforms, specializing in areas like drug discovery or fraud detection, niche to challenge established players -Leverages expertise The race for AI dominance is based on innovation, user-friendly solutions that seamlessly integrate with existing systems, strong security to ensure data trust, deep understanding of specific business needs and interestingly, collaboration Increase, with established players collaborating with startups for technology it is amazing, with startups exploring market reach through these partnerships, this dynamic market is poised for explosive growth as AI matures and becomes more accessible, which promises a future of innovative solutions.

Recent Developments

In September 2022, SAP updated the core of the Human Experience Management (HMX) Suite to deliver businesses more effectively for the implementation of an integrated talent development strategy and building a workforce for the future. The Suite integrates machine learning, data, and artificial intelligence.

In February 2022, Mozn has received USD 10 mn in a Series A funding round. Mozn helps companies make complicated decisions via AI products and resolutions that use a natural language understanding (NLU) platform along with its fraud engine

Regional Analysis

The European corporate artificial intelligence market is growing due to several compelling factors. First, Europe boasts leading technology giants such as Siemens and SAP who are actively developing AI solutions and integrating them into their offerings. This focus on innovation creates a constant flow of advanced AI tools for European businesses. Second, governments across Europe are recognizing the transformative potential of AI and investing heavily in R&D programs. These investments create an enabling environment for the adoption of AI and foster the growth of European AI startups. Furthermore, European regulations such as the GDPR (General Data Protection Regulation) emphasize data privacy and security, which is a major concern for businesses.

European AI solutions are developed using these regulations, which build confidence and encourage businesses to embrace AI. Finally, increasing demand for productivity and efficiency of machines in various industries is fueling the market. European companies are embracing AI to streamline operations, streamline processes and gain a competitive edge in global markets. Specifically, a combination of factors including prominent tech players, government support, focus on data privacy, and the need for automation are driving the European Enterprise Artificial Intelligence market towards a bright future.

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Key Takeaways

➤ Strong European tech players (Siemens, SAP) developing AI solutions.

➤ Government investment fuels research and startups in the European AI market.

➤ Focus on data privacy (GDPR) builds trust for businesses adopting AI.

➤ Automation needs across industries drive AI adoption.

Table of Contents- Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics
3.1. Drivers
3.2. Restraints
3.3. Opportunities
3.4. Challenges

4. Impact Analysis
4.1. Impact of Ukraine- Russia war
4.2. Impact of Ongoing Recession on Major Economies

5. Value Chain Analysis

6. Porter’s 5 Forces Model

7. PEST Analysis

8. Enterprise Artificial Intelligence Market Segmentation, By Deployment
8.1. Cloud
8.2. On-premises

9. Enterprise Artificial Intelligence Market Segmentation, By Organization Size
9.1. Large Enterprises
9.2. Small and Medium Enterprises

10. Enterprise Artificial Intelligence Market Segmentation, By Technology
10.1. Natural Language Processing (NLP)
10.2. Machine Learning
10.3. Computer Vision
10.4. Speech Recognition
10.5. Others

11. Enterprise Artificial Intelligence Market Segmentation, By Application Area
11.1. Security and risk management
11.2. Marketing management
11.3. Customer support and experience
11.4. Human Resource and recruitment management
11.5. Analytics application
11.6. Process automation

12. Enterprise Artificial Intelligence Market Segmentation, By End-use
12.1. Media & Advertising
12.2. Retail
12.3. BFSI
12.4. IT & Telecom
12.5. Healthcare
12.6. Automotive & Transportation
12.7. Others

13. Regional Analysis
13.1. Introduction
13.2. North America
13.3. Europe
13.4. Asia-Pacific
13.5. The Middle East & Africa
13.6. Latin America

14. Company Profile

15. Competitive Landscape
15.1. Competitive Benchmarking
15.2. Market Share Analysis
15.3. Recent Developments

16. USE Cases and Best Practices

17. Conclusion

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