| Source: Vantage Market Research
WASHINGTON, March 13, 2023 (GLOBE NEWSWIRE) — Global Enterprise Artificial Intelligence Market is valued at USD 11.1 Billion in 2021 and is projected to reach USD 64.5 Billion by 2028 at a CAGR (Compound Annual Growth Rate) of 34.1% over the forecast period 2022-2028.
The increasing digitization of End-Use Industries is one of the key reasons driving the market’s rise. The widespread product use among different companies for analyzing and interpreting enormous amounts of data also favors market growth.
We forecast that the natural language processing (NLP) category in Enterprise Artificial Intelligence market sales will account for more than 58% of total sales by 2028. The rise in enterprise adoption of virtual support services and increased investments in AI technology by many industry verticals are b factors contributing to this market’s expansion
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Increased Adoption of Artificial Intelligence in Businesses to Boost Market Growth
The use of AI apps in business is becoming more widespread. Businesses quickly realize the advantages of incorporating AI into routine operations. Businesses have found that AI may be useful in changing how they communicate, develop, and enhance their operations. Government, retail, financial services, manufacturing, the automobile industry, and advertising are some key end-use industries that deploy artificial intelligence services. Resulting in the market’s expansion.
Increasing Demand for Data Interpretation and Analysis to Fuel Market Expansion
Media & advertising, agriculture, finance, retail, healthcare, automotive & transportation, legal, educational institutions, oil & gas, and other industries are a few of the many fields where AI is used. Advancements like self-driving cars, space exploration, and precise weather forecasts have propelled the AI market globally. Due to its capacity to evaluate vast volumes of genomic data and assure more precise treatment and prevention of medical disorders, AI is also anticipated to impact healthcare breakthroughs.
Top Players in the Global Enterprise Artificial Intelligence Market
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Top Trends in Global Enterprise Artificial Intelligence Market
Top Report Findings
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Recent Developments in the Global Enterprise Artificial Intelligence Market
Cloud Category in Enterprise Artificial Intelligence Market to Generate Enormous Chunk of Revenue
Enterprise Artificial Intelligence is an expensive investment. Vantage Market Research has analyzed the market for Enterprise Artificial Intelligence to understand its current state and potential future growth factors. For better understanding, based on the deployment type, the Enterprise Artificial Intelligence market is divided into Cloud and On-Premise.
During the forecast period, the market for Enterprise Artificial Intelligence is anticipated to experience the highest CAGR for the cloud category. The growth might be ascribed to rising technological investments and the need to lower the price of on-premise infrastructure upkeep. Businesses can use cloud deployment to upgrade their systems with AI-based technologies without reinvesting their capital expenditures.
On the other hand, the On-Premise category is anticipated to grow significantly. The expansion of the on-premise category can be due to the increasing worries over data privacy related to research, personal information, account transactions, etc.
North America Region in Enterprise Artificial Intelligence Market to Generate the major Revenue
North America dominates the market throughout the projection period. This is related to technological advancements and a surge in the number of persons selecting enterprise AI operations in this area.
Browse market data Tables and Figures spread through 145 Pages and in-depth TOC on Enterprise Artificial Intelligence Market Forecast Report (2022-2028).
Global Enterprise Artificial Intelligence Market Segmentation
By Application Areas
By Deployment Types
By Organization Sizes
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