LONDON--(BUSINESS WIRE)--Aug 20, 2018--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 .

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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 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 only:

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

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 analysis

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.

Looking for more information on this market?

Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

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

About Technavio

is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

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PUB: 08/20/2018 02:03 PM/DISC: 08/20/2018 02:03 PM