Market Overview

Global Enterprise AI Market 2018-2022 to Post a CAGR of 45% Over the Next Four Years | Technavio


The global enterprise AI market is expected to post a CAGR of close to
45% during the period 2018-2022, according to the latest market research
report by Technavio.

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Technavio has published a new market research report on the global enterprise AI market from 2018-20 ...

Technavio has published a new market research report on the global enterprise AI market from 2018-2022. (Graphic: Business Wire)

A key factor driving the growth of the market is increasing interest in
chatbot AI. Chatbot AI allows customers to communicate with a robot
application instead of an actual human. Automated replies are stored and
processed by the AI algorithm. Patterns can be derived from the large
amounts of information that is collected. AI can be used to provide
replies to customer queries without the need of a human being. Chatbot
AI can learn and understand without having to talk to a human-beings.
Moreover, chatbot AI is one of the prominent reasons for market growth.
It is a simple and cost-effective option for firms who are looking to
integrate some level of AI into applications. Thus, with these
advantages associated with chatbot AI's, the market is expected to have
a positive outlook over the next five years.

This market research report on the global
enterprise AI market 2018-2022
also provides an analysis of the
most important trends expected to impact the market outlook during the
forecast period. Technavio classifies an emerging trend as a major
factor that has the potential to significantly impact the market and
contribute to its growth or decline.

This report is available at a USD 1,000 discount for a limited time
market snapshot before purchasing

In this report, Technavio highlights the adoption of enterprise AI by
SMEs as one of the key emerging trends in the global enterprise AI

Global enterprise AI market: Adoption of
enterprise AI by SMEs

MNCs have the resources and technical expertise to integrate AI into
their enterprises. SMEs are focusing on using AI for few business
processes. This will allow them to gain a competitive advantage over
MNCs. It is possible for SMEs to challenge bigger companies with the use
of AI. SMEs are following the think big, start small approach. With the
introduction of AI, SMEs have a better opportunity to compete with
several bigger firms. Thus, this factor is not only helping SMEs but
also directing the overall growth of the enterprise AI market.

"AI helps automate basic queries to provide a hassle-free customer
experience. Also, the AI assistant can be integrated into a variety of
platforms such as cars, hotel rooms, and home appliances, which in turn
is driving the overall growth of the global market,"
says a senior
analyst at Technavio for research on IT hardware.

Global enterprise AI market: Segmentation

This market research report segments the global enterprise AI market by
end-user (advertising and media and entertainment, retail and
E-commerce, medical and life sciences, BFSI, others) and geographical
regions (APAC, EMEA, and the Americas).

The Americas led the market in 2017 with a market share of close to 59%,
followed by EMEA, and APAC respectively. However, during the forecast
period, the EMEA region is expected to show the highest incremental
growth followed by the APAC region.

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Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

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