Enterprise AI Market Overview Enterprise AI is a category of enterprise software that harnesses advanced artificial intelligence techniques to drive digital transformation. AI can be beneficial to enterprises in various ways in which organizations communicate & reform their processes, involve customers, and assess the sales process. Some of the major industry sectors already utilizing artificial intelligence include government, retail, financial services, manufacturing, automotive, and advertising.
The global Enterprise AI market is expected to grow at a considerable rate in the forthcoming years. The increasing demand for AI-based cognitive solutions and the necessity for analyzing complex data sets in data-sensitive companies are the main factors that boost the growth of the Enterprise AI market. Additionally, Substantial development in machine learning algorithms is also accountable for the large-scale adoption of AI solutions in enterprises. Moreover, increasing demand for improving business functions and developing innovation across industries are creating numerous growth opportunities for enterprise AI market.
On the other hand, lack of skilled labor and concerns about data sharing is projected to hamper the growth of the market. Besides, the slow digitization rate affecting the adoption of enterprise AI solutions in developing countries is also expected to act as a restraint to the growth of the enterprise AI market.
Covid-19 Impact on Enterprise AI Market
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.
Enterprise AI Market Segment Overview Based on the Component, the Cloud-Based sub-segment is the largest segment in the global enterprise AI market. The cloud deployment type offers several benefits that include more scalability, reduced operational and maintenance costs, and fewer complexities. Additionally, enterprise AI vendors are mainly focusing on the deployment of cloud-based solutions, due to the huge adoption of the cloud-based deployment type. In terms of Organization Size, the Large Enterprises segment dominated the overall market and is expected to generate maximum revenue in the forecast period. The growth of this segment is mainly attributed to an increase in the need to improvise business outcomes.
Enterprise AI Market, By Component
- Software
- Services
- Managed
- Professional Services
Enterprise AI Market, By Technology
· Machine Learning
· Deep Learning
· Natural Language Processing (NLP)
Enterprise AI Market, By Application
· Security & Risk Management
· Process Automation
· Analytics Application
· Marketing Management
Enterprise AI Market, By Organization Size
· Small And Medium Sized Enterprises (SMEs)
· Large Enterprises
Enterprise AI Market Regional OverviewNorth America is estimated to contribute the largest share in the Enterprise AI market throughout the forecast period. The region has a significant presence of prominent technology players to provide to the rapidly growing enterprise AI market. Further, the adoption rate of AI by SMEs and large enterprises in North America is relatively high compared to other regions. Similarly, the market of the Asia Pacific is projected to grow at the fastest rate in the coming years. Increasing demand for enterprise AI in developing countries such as Japan, China, and India is driving the market growth. Europe is also expected to show substantial growth in enterprise AI in the forecast period. The Middle East & Africa region and South America are also anticipated to contribute significantly toward the growth of the market.
Enterprise AI Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Enterprise AI Market Competitor overviewSome key developments and strategies adopted by manufacturers in Enterprise AI are highlighted below.
· In August 2021, Wipro Limited, a global information technology, consulting and business process services company announced a global strategic partnership with DataRobot, a leader in Augmented Intelligence.The partnership will deliver Augmented Intelligence at scale, to help customers become AI driven enterprises, and accelerate their business impact. This collaboration will help accelerate the execution of AI strategy and will ensure quicker “data to value” for businesses. The partnership will streamline the process of infusing AI-led intelligence into customer business decisions, and positively impact their bottom line.
· In August 2021, Nvidia officially opened its AI Enterprise software Version 1.0 to general availability, and announced a new partnership to make it easier for enterprises to work with machine learning models, both key step in helping the company realize its strategy to make AI tools more realistic options for any enterprise.
Enterprise AI Market, Key Players· AWS
· Google Corporation
· IBM Corporation
· Intel Corporation
· Microsoft Corporation
· Oracle Corporation
· SAP
· Sentient Technologies
· Wipro Ltd
List of Figures
Figure 1: Global Enterprise AI Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Enterprise AI Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Enterprise AI Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: Global Enterprise AI Market Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Enterprise AI Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Enterprise AI Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Enterprise AI Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Enterprise AI Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Enterprise AI Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Enterprise AI Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Enterprise AI Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Enterprise AI Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Enterprise AI Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Enterprise AI Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Enterprise AI Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Enterprise AI Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Enterprise AI Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Enterprise AI Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Enterprise AI Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Enterprise AI Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Enterprise AI Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Enterprise AI Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Enterprise AI Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Enterprise AI Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Enterprise AI Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Enterprise AI Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Enterprise AI Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Enterprise AI Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Enterprise AI Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Enterprise AI Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Enterprise AI Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Enterprise AI Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Enterprise AI Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Enterprise AI Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Enterprise AI Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Enterprise AI Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Enterprise AI Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Enterprise AI Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Enterprise AI Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Enterprise AI Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Enterprise AI Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Enterprise AI Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Enterprise AI Market Revenue (USD Billion) Forecast, by Country, 2016-2027