Major players in the enterprise artificial intelligence market are International Business Machines, Wipro Technologies, Amazon Web Services, Intel Corporation, Google LLC, SAP SE, Sentinent Technologies, Oracle Corporation, Hewlett Packard Enterprise, IPsoft Inc.
New York, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Enterprise Artificial Intelligence Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06377811/?utm_source=GNW
, MicroStrategy Incorporated, NVIDIA Corporation, Verint Systems Inc., and SAS Institute.
The global enterprise artificial intelligence market is expected to grow from $7.37 billion in 2021 to $10.43 billion in 2022 at a compound annual growth rate (CAGR) of 41.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The enterprise artificial intelligence market is expected to reach $40.46 billion in 2026 at a CAGR of 40.4%.
The enterprise artificial intelligence market includes revenues earned by business intelligence, and customer management.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Enterprise AI is a subcategory of the business system that utilizes cutting-edge AI methods to promote digital transformation.A new technological stack is needed for the large-scale development and deployment of enterprise AI.
It is used to automate tasks, improve data-driven decision-making, and produce better insights.
North America was the largest region in the enterprise artificial intelligence market in 2021. The regions covered in the enterprise artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).
The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.
The main components of enterprise artificial intelligence are solution and service.A solution refers to a system that combines people, processes, information, and technology to support a group of business or technical skills that address one or more business challenges.
The different technologies include machine learning and deep learning, natural language processing, image processing, and speech recognition that are used in security and risk management, marketing management, customer support and experience, human resource and recruitment management, analytics application and process automation. The several end users include retail, healthcare, automotive, banking and financial services, media and entertainment, others.
The increasing adoption of AI is expected to propel the growth of the enterprise artificial intelligence market going forward.Artificial intelligence refers to the simulation of human intelligence processes by machines, especially computer systems for analyzing enormous volumes of data.
Adopting AI improves the efficiency with which things are done and dramatically improves the decision-making process in enterprises of various sizes.For instance, according to a journal released by Indian express limited, an India-based news media publishing company, in 2020, India reported a 45% increase in the usage of AI, the largest among all countries, while the US claimed a 35% increase, the UK 23 %, and Japan 28 %.
Therefore, the increasing adoption of AI is driving the growth of the enterprise artificial intelligence market.
Technological advancements are a key trend gaining popularity in the enterprise artificial intelligence market.Major companies operating in the enterprise artificial intelligence market are focused on developing new technological solutions to reinforce their position For instance, in November 2021, Oracle Corporation, a US-based computer technology corporation company, launched Oracle Cloud Infrastructure (OCI) AI services, which uses Artificial Intelligence technology that is enabled in its various services such as OCI Language, OCI Speech, OCI Vision, OCI Anomaly Detection, OCI Forecasting, and OCI Data Labeling.
With the new and unique OCI AI services, developers have the option of using pre-trained, out-of-the-box models on business-related data or custom training the services using data specific to their own organization.The six new services assist programmers with numerous challenging tasks, including language, computer vision, and time-series forecasting.
The new OCI AI services give developers the option of bridging the gap between the promise of AI and the implementation of AI that allows them to achieve real-world benefits.
In March 2022, Microsoft Corporation, a US-based technology corporation that produces computer software acquired Nuance Communications for an undisclosed amount.Through this acquisition combination of conversational AI and ambient intelligence and Microsoft’s secure and reliable industry cloud offerings, businesses across all sectors would be able to provide more individualized and meaningful customer experiences.
Nuance Communications Inc. is a US-based computer software technology corporation and AI software leader representing decades of accumulated healthcare and enterprise AI experience.
The countries covered in the enterprise artificial intelligence market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The enterprise artificial intelligence report is one of a series of new reports that provides enterprise artificial intelligence statistics, including enterprise artificial intelligence industry global market size, regional shares, competitors with an enterprise artificial intelligence share, detailed enterprise artificial intelligence segments, market trends and opportunities, and any further data you may need to thrive in the enterprise artificial intelligence industry. This enterprise artificial intelligence market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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