Global Enterprise AI Market 2018-2022
- Published: Aug 2018
- Pages: 145
- SKU: IRTNTR23031
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Global enterprise AI market size will grow USD 4.28 billion during 2018-2022. This report offers an analysis of the market based on deployment type (on-premise and cloud), end-user (advertising and media and entertainment, retail and e-commerce, medical and life sciences, BFSI, and others) presents in-depth insights on the growth prospects of the market across the Americas, APAC, and EMEA. The report also analyzes the market’s competitive landscape and offers information on several companies including Alphabet, Amazon.com, IBM, Intel, and Microsoft.
Below are some of the key findings from this enterprise AI market research report
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Global enterprise AI industry overview
The increasing interest in chatbot artificial intelligence is identified as one of the major drivers for enterprise artificial intelligence market growth. Chatbot AI allows customers to communicate with a robot application instead of an actual human and automated replies are stored and processed by the AI algorithm. Patterns can be derived from substantial amounts of information that is collected. AI can be used to provide replies to customer queries without the need of a human being. Moreover, it is also a simple and cost-effective option for organizations looking to integrate AI into applications. Due to these advantages, the coming years will witness an increasing interest in chatbot AI, fueling enterprise AI market growth.
This market analysis also highlights that the adoption of enterprise AI by SMEs will be an emerging trend contributing to the enterprise AI market value. MNCs have the resources and technical expertise to integrate AI into their enterprises. SMEs are focusing on using AI for few business processes and will allow them to gain a competitive advantage over MNCs, allowing SMEs to challenge bigger companies with the use of AI. The AI assistant can be integrated into a variety of platforms such as cars, hotel rooms, and home appliances, which in turn is driving the enterprise AI market at a CAGR close to 45% in the forecast period.
Top enterprise AI companies covered in this market research report
The enterprise AI market is moderately fragmented. By offering a complete analysis of the market’s competitive landscape and information on the products and services offered by enterprise AI companies, this enterprise AI industry analysis report will help clients identify new growth opportunities and design new growth strategies.
The report offers a complete analysis of various companies including:
Enterprise AI market segmentation based on geographic regions
The Americas will make the largest contribution to the growth of this market throughout the forecast period due to the rising sales of enterprise AI solutions to numerous end-users in the region. The Americas dominated the enterprise AI market in 2017 with a market share of close to 59%, followed by EMEA, and APAC respectively.
Enterprise AI market segmentation based on end users
- Advertising and media and entertainment
- Retail and e-commerce
- Medical and life sciences
The advertising and media and entertainment segment will account for the highest growth in the market. This report provides an accurate prediction of the contribution of the various end users segments to the growth of the enterprise AI market size.
Key highlights of the global enterprise AI market for the forecast years 2018-2022:
- CAGR of the market during the forecast period 2018-2022
- Detailed information on factors that will accelerate the growth of the enterprise AI market during the next five years
- Precise estimation of the global enterprise AI market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- Growth of the enterprise AI industry across the Americas, APAC, and EMEA
- A thorough analysis of the market’s competitive landscape and detailed information on several vendors
- Comprehensive details on the factors that will challenge the growth of enterprise AI companies
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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