Global Enterprise AI Market to 2022: Market to Grow at a CAGR of 48.7% and Reach $6.1 Bn in 2022, from 845 Mn in 2017

DUBLIN, March 9, 2018 /PRNewswire/ --

The "Enterprise AI Market by Component, Technology, Application Area, Deployment, Organization Size, Industry & Region - Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.

The researcher expects the global enterprise Artificial Intelligence (AI) market to grow from USD 845.4 Million in 2017 to USD 6,141.5 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 48.7% during the forecast period.

The rising demand for AI-based solutions and platforms, and the need to analyze large and complex data sets are expected to drive the growth of the enterprise AI market.

The component segment has been further segmented into solution and services. The services segment is expected to grow at a higher CAGR during the forecast period. The services in the enterprise AI market play a vital role in the efficient and effective functioning of Natural Language Processing (NLP) and machine learning applications. Services are required to effectively integrate AI technologies with business modules and link them with the existing working environment.

Among technologies, the NLP segment is expected to grow at a higher CAGR during the forecast period. Due to the growing use of personal devices and smartphones, and the rising rate of internet usage, the need for human-to-machine level interaction has increased significantly in enterprises. With the growing demand for Machine-to-Machine (M2M) translation, the use of NLP is expected to grow. Many enterprises are deploying AI solutions to gain benefits from them.

The enterprise AI market is also segmented on the basis of application areas. The analytics application segment is expected to have the largest market size during the forecast period. The analytics application is a data discovery application that reviews information with the help of AI to save time for decision-making. AI is proving to be a very supportive tool for aligning an enterprise's business objectives with the AI technologies supporting those objectives.

Among services, the managed services segment is expected to grow at a higher CAGR during the forecast period. Managed services are extremely substantial, as they are directly linked to delivering the best customer experience. As every business is dependent on its customers and cannot afford negotiations on this aspect, enterprises opt for managed services. These services provide the required technical kills and expertise for maintaining the deployed solutions and keeping them up to date.

On the basis of deployment type, the cloud deployment type is expected to grow at a higher CAGR during the forecast period. This deployment type is simple and cost-effective for use in applications, such as customer analytics, virtual assistance, and self-diagnostics.

North America is expected to have the largest market size in the enterprise AI market, while Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. The North American region has shown increased investments in the enterprise AI market, and several vendors have evolved to cater to the rapidly growing market. A considerable growth is expected in the region during the forecast period. In North America, the enterprise AI technology is effectively used for various business applications, such as security and risk management, marketing management, customer support and experience, and process automation.

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Stakeholders

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Enterprise Artificial Intelligence Market
4.2 Enterprise Artificial Intelligence Market: Top 3 Industries and Regions
4.3 Growth Rate of Industry During the Forecast Period

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Rising Demand for AI-Based Solutions and Platforms
5.2.1.2 Need for Analyzing Large and Complex Data Sets
5.2.2 Restraints
5.2.2.1 Slow Digitization Rate
5.2.3 Opportunities
5.2.3.1 Growing Demand for Enhancing Business Functions
5.2.3.2 Emerging Innovations Across Industries
5.2.4 Challenges
5.2.4.1 Lack of Skilled Employees
5.2.4.2 Concerns About Data Privacy
5.3 Regulatory Implications
5.3.1 Introduction
5.3.2 Federal Trade Commission (FTC)
5.3.3 Health Insurance Portability and Accountability Act (HIPAA)
5.3.4 Food and Drug Administration (FDA)
5.3.5 International Organization for Standardization (ISO)
5.4 Use Cases

6 Enterprise Artificial Intelligence Market, By Component
6.1 Introduction
6.2 Solution
6.3 Services
6.3.1 Professional Services
6.3.2 Managed Services

7 Enterprise Artificial Intelligence Market, By Technology
7.1 Introduction
7.2 Machine Learning and Deep Learning
7.3 Natural Language Processing

8 Enterprise Artificial Intelligence Market, By Application Area
8.1 Introduction
8.2 Security and Risk Management
8.3 Marketing Management
8.4 Customer Support and Experience
8.5 Human Resources and Recruitment Management
8.6 Analytics Application
8.7 Process Automation

9 Enterprise Artificial Intelligence Market, By Deployment Type
9.1 Introduction
9.2 Cloud
9.3 On-Premises

10 Enterprise Artificial Intelligence Market, By Organization Size
10.1 Introduction
10.2 Small and Medium-Sized Businesses
10.3 Large Enterprises

11 Enterprise Artificial Intelligence Market, By Industry
11.1 Introduction
11.2 Banking, Financial Services, and Insurance
11.3 Advertising, Media, and Entertainment
11.4 Retail and Ecommerce
11.5 Healthcare and Life Sciences
11.6 Government and Defense
11.7 Transportation
11.8 Agriculture
11.9 Manufacturing
11.10 IT and Telecommunication
11.11 Others

12 Enterprise Artificial Intelligence Market, By Region

13 Competitive Landscape
13.1 Overview
13.2 Key Players in the Enterprise Artificial Intelligence Market
13.3 Competitive Scenario

14 Company Profiles

• AWS
• Google
• HPE
• IBM
• Intel
• Microsoft
• Oracle
• SAP
• Sentient Technologies
• Wipro

For more information about this report visit https://www.researchandmarkets.com/research/xdjgxd/global_enterprise?w=5

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Research and Markets
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