Definition of Enterprise Artificial Intelligence (EAI)  

A part of enterprise software that functions to locate advanced artificial intelligence techniques to push the process of digital transformation to a higher level is known as enterprise artificial intelligence (EAI). It is an integrated platform of various techniques that assist enterprises to develop, design, operate, and deploy AI applications. The types of AI that bring one’s business to profit are visual, text, functional, analytic, and interactive AI. Furthermore, to bring out deep insights, elements of AI such as neural networks, deep and machine learning are utilized for data mining, software driving, and others.

Global Enterprise Artificial Intelligence (EAI) Market: Key Insights

Global Enterprise Artificial Intelligence (EAI) Market Highlights Over 2023 - 2035

The global enterprise artificial intelligence (EAI) market is estimated to garner a revenue of ~USD 160 billion by the end of 2035 by growing at a CAGR of ~38% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of ~USD 94 billion in the year 2022. The growth of the market can primarily be attributed to the boom in government initiatives and increment in spending to accelerate the process of digital transformation worldwide. For instance, in 2022, approximately USD 2 trillion was spent on digital transformation and is further projected to rise by USD 3 trillion by 2026. It was a considerable increment from nearly USD 1 trillion in 2018.

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Global enterprise artificial intelligence (EAI) market trends such as the development and launch of 5G technology spurring the rapid exchange of data packets from one point to another are anticipated to influence the growth of the market positively during the forecast period. The market share held by the shipment of the 5G-enabled smartphone is anticipated to be around 70% by 2023. Additionally, escalation in the 5G-enabled smartphones shipment and their utilization in the workspace is estimated to propel the growth of the market over the forecast period. The highest 5G speed offered by South Korea up until now was noticed to be approximately 430 megabits per second.

Global Enterprise Artificial Intelligence (EAI) Market: Growth Drivers and Challenges

Growth Drivers

• Growth in Data Traffic Across the Globe

As of 2022, the annual rate of data traffic was projected to be approximately 50 exabytes and is further estimated to rise at a rapid pace.

As the data traffic on digital platforms is rising, the need to harness valuable information from this huge stack of data also increases. This task is nearly impossible to be accomplished manually. Hence, the requirement for enhancing AI emerges in the market to manage and organize the sensitive and confidential data of enterprises to keep the workflow away from disruption.

• Launch of 5G Technology to Positively Affect the EAI Market

In 2021, the number of mobile broadband subscriptions was estimated to be approximately USD 6 billion while the number of 5G subscriptions is projected to fall to around USD 5 billion by 2026.

• Rising Demand for Enhanced Telecommunication Services

In 2020, the fixed call volume in the United Kingdom was anticipated to be about more than 42 billion minutes.

• Increment in the Utilization of AI for the Expansion of Businesses

It was observed that around 260% of businesses of all kinds adopted Artificial Intelligence in 2022. The utilization of AI was estimated to triple between 2018 to 2019.

Challenges

• Lack of Professionals to Operate and Maintain EAI

Enterprise AI is a complex set of techniques that require to be operated by experienced IT professionals. The unavailability of such experienced professionals to operate EAI and also perform timely maintenance activities of the platform, which ultimately increases the cost of operations of businesses is projected to hamper the market growth over the forecast period.

• Significant Threat to Data Privacy

• Complex Procedure to Understand the Function and Tools

The global enterprise artificial intelligence (EAI) market is segmented and analyzed for demand and supply by verticals into BFSI, IT & telecommunication, automotive, healthcare, and others. Out of these sub-segments, the IT & telecommunication segment is anticipated to garner the highest market share by the end of 2035. The segment is projected to expand its size owing to the growing penetration of IT and telecommunication devices worldwide. The IT systems are being highly utilized for billing, mediation, and rating. As of 2022, nearly USD 5 trillion was spent on the information & technology segment while around USD 1 trillion was spent by the IT sector on telecommunication services.

Global Enterprise Artificial Intelligence (EAI) Market Regional Synopsis

The North American enterprise artificial intelligence (EAI) market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The market in the region is expected to grow on the back of the higher prevalence of online gaming & video streaming backed by the escalation in the adoption of digital transformation procedures across the industries. For instance, it was observed that more than 200 million people spent one to 3 hours playing online video games in the United States every day while in about 70% of households, at least one member is in involved online gaming.    

Market Segmentation

Our in-depth analysis of the global enterprise artificial intelligence (EAI) market includes the following segments:

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Key Companies Dominating the Global Enterprise Artificial Intelligence (EAI) Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global enterprise artificial intelligence (EAI) market that are included in our report are Alphabet Inc., Microsoft Corporation, Oracle Corporation, Verint Systems Inc., Hewlett Packard Enterprise Company, Wipro Limited, Intel Corporation, NVIDIA Corporation, International Business Machines Corporation, SAP SE, and others.

Global Enterprise Artificial Intelligence (EAI) Market: Latest Developments

• August 26, 2021: Wipro Limited announced a strategic partnership with DataRobot to help customers become AI-driven enterprises and accelerate their business impact.

• November 3, 2021: Oracle Corporation announced the availability of Oracle Cloud Infrastructure AI services, that make it easier for developers to incorporate AI into their applications without the need for data science expertise.   

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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