Enterprise Artificial Intelligence Market to Reach $53.06 Bn, Globally, by 2026 at 35.4% CAGR: Allied Market Research

PORTLAND, Oregon, Nov. 28, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Enterprise Artificial Intelligence (AI) Market by Deployment Type (Cloud and On-Premise), Technology (Machine Learning, Natural Language Processing, Image Processing, and Speech Recognition), Organization Size (Large Enterprises and Small & Medium Enterprises), and Industry Vertical (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others): Global Opportunity Analysis And Industry Forecast, 2019–2026." According to the report, the global enterprise Artificial Intelligence industry garnered $4.68 billion in 2018, and is expected to generate $53.06 billion by 2026, growing at a CAGR of 35.4% from 2019 to 2026.

Drivers, restraints, and opportunities–

Growing need for analyzing and interpreting large amounts of data, rise in customer satisfaction, adoption of reliable cloud applications, and surge in investment in AI technologies drive the global enterprise Artificial Intelligence market. However, lack of trained and experienced staff hinders the market growth. On the other hand, rise in adoption of AI in developing economies and developing smarter virtual assistants and robots would create new opportunities in the market.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/6151

The on-premise segment to maintain its dominance throughout the forecast period–

Based on deployment type, the on-premise segment held the largest market share in the global enterprise Artificial Intelligence market, contributing to nearly three-fifths of the total market in 2018, and is estimated to maintain its dominance throughout the forecast period. The increase in concerns over data privacy and security is fueling the demand for on-premise AI solutions among large organizations. However, the cloud segment is estimated to register the fastest CAGR of 38.9% from 2019 to 2026. The rise in need to check AI components constructed by other teams within an enterprise and access AI content is fueling the growth of this segment.

The machine learning segment to maintain its leadership status by 2026

Based on technology, the Machine Learning segment contributed more than half of the total share of the global enterprise Artificial Intelligence market in 2018, and is estimated to maintain its leadership status during the forecast period. This is attributed to factors such as increase in applications in identity access management, cognitive technologies, recognizing objects, emotions & behavior. However, the natural language processing segment is expected to grow at the fastest CAGR of 42.3% from 2019 to 2026. The growing need to fill the communication gap between humans and computers fuels the segment.

North America to maintain its dominance throughout the study period–

Based on region, North America held the highest market share in 2018, contributing for more than two-fifths of the global enterprise Artificial Intelligence market, and will maintain its dominant position in terms of revenue during the forecast period. This is due to the presence of major market players in this region, increase in adoption of head-up display screens in smart wearables, luxury cars, and growth in venture capital investments. However, Asia-Pacific would register the highest CAGR of 41.4% during the forecast period. This is due to increase in number of startups that are investing in AI technologies and using its applications to compete in the global market.

For purchase inquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/6151

Leading market players

• MicroStrategy Incorporated
• Apple Inc
• Amazon Web Services, Inc
• International Business Machines Corporation
• Wipro Limited
• NVIDIA Corporation
• Alphabet Inc. (Google Inc.)
• IPsoft Inc
• SAP
• Verint

Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree

Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.

Similar Reports:

Self-Organizing Network Market Size Worth $8.3 Billion by 2023 | CAGR 11.1%

Virtual Private Server Market is Projected to garner $8.3 Billion by 2026

Biometrics-as-a-Service Market to Expand with Significant at a CAGR 18.2% by 2026

Blockchain in BFSI Market to Witness a CAGR of 73.8% by 2023

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada
(Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg