AP NEWS

Global Enterprise AI Market Analysis & Forecasts (2018-2023): A $9.88 Billion Opportunity - ResearchAndMarkets.com

September 27, 2018

DUBLIN--(BUSINESS WIRE)--Sep 27, 2018--The “Global Enterprise AI Market Analysis & Forecasts (2018-2023)” report has been added to ResearchAndMarkets.com’s offering.

The global enterprise AI market was valued at USD 796.3 million and is expected to reach USD 9,880.4 million by 2023, witnessing a CAGR of 51.1% during the forecast period 2018-2023.

Enterprises are increasingly recognizing the value associated with incorporation of artificial intelligence (AI) into their business processes as they improve operational efficiency and reduce cost, through automation of process flows. Thus, companies are using autonomous processes to improve operations, and change the face of customer service (for example, through AI-powered chatbots), while spurring innovation to new heights. AI is a set of algorithms that can solve a specific set of problems and it works best with a large amount of quality big data.

Also, AI investment is growing fast, dominated by digital giants, such as Google and Baidu. Globally, tech giants spent USD 20 billion to USD 30 billion on AI in 2016, with most of this expenditure on research and development (R&D) and deployment, and remaining on AI acquisitions. Machine learning, as an enabling technology, received the largest share of both internal and external investment.

Key Highlights

Manufacturing Sector is Expected to Grow with a Significant Rate Europe is Expected to Account for a Significant Share in the Market

Major Market Developments

IBM and H2O.ai underwent a strategic global partnership focused on combining IBM POWER Systems and H2O Driverless AI to address the AI demands of enterprises. This joint solution is ideal for financial services, retail, manufacturing, IoT, and healthcare industries. Hewlett Packard Enterprise planned to invest USD 4 billion in Intelligent Edge technologies and services over the next four years. This strategic organic investment is expected to be focused on helping customers turn all their data, from every edge to any cloud, into intelligence that drives seamless interactions between people and things, delivers personalized user experiences, and employs AI and machine learning to continuously adapt to changes in real time.

Leading Players Featured

IBM Corporation Oracle Corporation Baidu Hewlett Packard Enterprise Wipro Limited Microsoft Corporation Amazon Web Services H2O.ai Google Inc. Intel Corporation SAP SE Sentient Technologies AiCure LLC NEC Corporation Nvidia Corporation

Topics Covered

1. Introduction

2. Research Approach and Methodology

3. Executive Summary

4. Market Insights

5. Global Enterprise AI Market Segmentation

6. Enterprise AI Market Competitive Intelligence - Company Profiles

7. Enterprise AI Market Investment Analysis

8. Future of the Enterprise AI Market

For more information about this report visit https://www.researchandmarkets.com/research/m5wpv9/global_enterprise?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180927005702/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Manager

press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics:Artificial Intelligence

KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 09/27/2018 12:19 PM/DISC: 09/27/2018 12:19 PM

http://www.businesswire.com/news/home/20180927005702/en

AP RADIO
Update hourly