Global Enterprise Artificial Intelligence Market: Solution (Business Intelligence, Customer Management, Sales & Marketing), Service (Professional, Managed), Deployment, Industry Vertical (Retail, Healthcare, Automotive, Aerospace) - Forecast till 2023
Enterprises hold a prominent market value considering their services and solution created for different functions and business uses. These enterprises largely deploy technologies such as machine learning, deep learning, automated data science, predictive analytics, and automation to provide a solution for different enterprises. The market for enterprise artificial intelligence is expected to experience a high growth rate. One of the major factors contributing to the growth of this market is the growing demand for artificial intelligence based solutions and platforms. Additionally, the growing amount of data sets required to analyze, complex data for with integration of artificial intelligence for better efficiency is driving the market. As artificial intelligence is experiencing more significant adoption rate in the industrial sector, it becomes essential for the enterprises to upgrade their solutions to meet the industrial standards.
On the basis of the solution, the market is segmented into business intelligence, customer management, sales & marketing, finance & operation, digital commerce, and others
On the basis of services, the market is segmented into professional service and managed service. The professional service is further is segmented into integration and deployment service, consulting service, and support & maintenance service.
On the basis of deployment, the market is segmented into cloud deployment and on-premise deployment.
On the basis of industry vertical, the market is segmented into retail, healthcare, Automotive, Aerospace, media & entertainment, banking & financial services, IT & Telecommunication, and others
On the basis of region, the market is segmented into North America, Europe, Asia Pacific, and rest of the world.
Global Enterprise Artificial Intelligence Market, USD Billion
Source: MRFR Analysis
The global enterprise artificial intelligence market is estimated to grow at a significant rate due to rising advancements in artificial intelligence, and a higher rate of adoption in various industrial verticals. The geographical analysis of enterprise artificial intelligence market marks the study for regions like North America, Europe (including Russia), Asia Pacific (including Australia and New Zealand) and rest of the world (including the Middle East, Africa, and South America). Among these regions, the market is led by North America. North America has a rich concentration of vendors providing services and solutions for enterprise artificial intelligence for different applications. One of the major factors contributing to the growth of enterprise artificial intelligence in North America is due to early adoption of newer technology. The integration of artificial intelligence has spread its reach across different industrial verticals. The United States contributes a major portion to this growth, especially in IT & Telecom, commercial, retail and automotive sector.
The integration of artificial intelligence with traditional industrial solutions is still developing. The companies are rolling out changes in their solution due to the rising demand for customization from the customer. Also, North America holds more than 70% of the prominent players in this market. Europe closely follows North America in this market. Europe is expected to reach its maturity in the enterprise artificial intelligence market by 2026. Europe is a technologically advanced region, and the factor contributing to the growth of this market is the increased application of artificial intelligence in predictive maintenance, supply chain monitoring, and automotive. On the other hand, Asia Pacific is expected to be the fastest growing region in enterprise artificial intelligence market.
Some of the major players in global enterprise artificial Intelligence market include SAS Institute (U.S.), International Business Machines, Corporation (U.S.), Microsoft Corporation (U.S.), Amazon Web Services (U.S.), Intel Corporation (U.S.), Google, LLC (U.S.), SAP SE (Germany), Sentinent Technologies (U.S.), Oracle Corporation (U.S.), Hewlett Packard Enterprise (U.S.), Wipro Technologies (India) among others
Other vendors include Algolia (U.S.), CrowdFlower (U.S.), DataRobot (U.S.), Element AI (Canada), LeapMind (Japan), Petuum (U.S.), Tamr (U.S.), Trifacta (U.S.), Zendesk (U.S.), HireVue Inc (U.S.), Wade & Wendy (U.S.), Appier, Inc (Taiwan), Sapho (U.S.), Artifacia (India), Dataiku (U.S.), Cycorp, Inc (U.S.), Anodot Ltd (Israel), Arimo (U.S.) among others.
The prominent players constantly keep innovating and investing in research and development to present a cost-effective portfolio. There have been recent mergers and acquisitions among the key players, where the business entities expect to strengthen their reach to their customers
- Enterprise AI service providers
- Enterprise AI solution vendors
- Application developers
- System developers and integrators
- Government agencies
- Application end-user
- Research Firms