Press release
Enterprise Artificial Intelligence Market Expansion Continues, with Forecast Valuation of $116.34 Billion by 2029
Enterprise Artificial Intelligence
Enterprise Artificial Intelligence Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size of enterprise artificial intelligence has seen significant growth over the past few years. The market is expected to experience a surge from $20.42 billion in 2024 to $28.38 billion in 2025, with a compound annual growth rate (CAGR) of 39.0%. The past growth can be credited to advancements in machine learning algorithms, the rise in big data and data analytics, the expansion of cloud computing, the increase in computing power and processing speed, and the incorporation of AI into business process automation.
Enterprise Artificial Intelligence Market Size Forecast: What's the Projected Valuation by 2029?
The market size for enterprise artificial intelligence is predicted to undergo substantial growth over the upcoming years, escalating to $116.34 billion in 2029 with a compound annual growth rate (CAGR) of 42.3%. This growth during the forecast period is credited to advancing ai integration in cybersecurity solutions, the rise of explainable ai promoting transparency, broadening adoption of ai in the field of human resources, widening ai applications in healthcare and life sciences, and a focus on responsible and ethical ai utilities. Noteworthy trends for the forecast period encompass the advancement of ai-aided chatbots and virtual assistants, amalgamation of ai with the Internet of Things (IoT), evolution of edge ai for prompt processing, the increasing use of ai in supply chain and logistics, and the emphasis on customer experience personalization powered by ai.
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What Are the Drivers Transforming the Enterprise Artificial Intelligence Market?
The surge in the acceptance of AI is anticipated to boost the expansion of the enterprise artificial intelligence market. AI pertains to the replication of human intellectual activities by machines, primarily computer systems, to analyze large data amounts. The utilization of AI enhances efficiency and significantly refines the decision-making procedure in various-sized enterprises. For instance, in May 2022, the IBM Global AI Adoption Index 2022, reported by the US technology company, International Business Machines Corporation, stated 35% of companies confirm their use of AI, while another 42% are considering its adoption in 2022. Consequently, the escalating adoption of AI is fueling the growth of the enterprise artificial intelligence market.
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What Long-Term Trends Will Define the Future of the Enterprise Artificial Intelligence Market?
The proliferation of technological progress is an emerging trend in the enterprise artificial intelligence market. Leading companies in this sector are prioritizing the creation of new technological solutions to fortify their standing. For example, in September 2023, Ernst & Young, a professional services network based in the UK, debuted its artificial intelligence platform, EY.ai. This platform aids companies in integrating AI into their operational processes, which in turn assists in unlocking new financial value and boosting efficiency across a wide range of business areas such as strategy, transactions, transformation, risk, assurance, and tax. The platform is equipped with generative AI capabilities that enable client-facing teams to swiftly respond to business transformation needs by offering sophisticated tools for data processing and insights generation.
Which Segments in the Enterprise Artificial Intelligence Market Offer the Most Profit Potential?
The enterprise artificial intelligencemarket 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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Which Firms Dominate the Enterprise Artificial Intelligence Market by Market Share and Revenue in 2025?
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., accenture* 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 Regions Offer the Highest Growth Potential in the Enterprise Artificial Intelligence Market?
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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