North America Enterprise Artificial Intelligence Market Size, Share & Industry Trends Analysis Report By Vertical, By Deployment Type (Cloud and On-premise), By Organization Size, By Technology, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The North America Enterprise Artificial Intelligence Market would witness market growth of 30.2% CAGR during the forecast period (2022-2028).
Natural language processing (NLP) communication allows computers to execute a variety of extra tasks as a result of the growing enterprise data volume, including processing huge amounts of data utilising NLP to extract data, obtaining data, and streamlining summarization, machine translation, and dialogue systems. Given that many companies have moved to either private or public clouds, AI platform vendors are concentrating on creating robust cloud-based installations for their clients.
The demand for artificial intelligence amongst businesses is being driven by factors including the increasing desire for chatbots, virtual assistants, and robots from different businesses and the increasing requirement to assess the exponentially rising demand for data sets. Also, the switch from conventional to digital business platforms is boosting demand for artificial intelligence technologies among firms around the world.
Canada is investing a lot of money on AI. Immediately after the introduction of the government budget in April 2021, it was revealed that Canada would contribute significantly to help AI research become commercially viable. Along with this investment, there are plans to boost the Pan-Canadian Artificial Intelligence Strategy's funding to millions of dollars over ten years. Although artificial intelligence has been popular for the past ten years, the usage of AI in conjunction with 5G's instantaneous response and hyper-connectivity is reviving the field's potential.
The US market dominated the North America Enterprise Artificial Intelligence Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $17,742.9 million by 2028. The Canada market is poised to grow at a CAGR of 33.2% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 32% during (2022 - 2028).
Based on Vertical, the market is segmented into IT & Telecom, BFSI, Automotive & Transportation, Retail, Media & Advertising, Healthcare & Life Sciences, and Others. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Technology, the market is segmented into Natural Language Processing (NLP), Machine Learning, Computer Vision, Speech Recognition, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, Amazon Web Services, Inc., IBM Corporation, Apple, Inc., SAP SE, Wipro Limited., MicroStrategy, Inc., NVIDIA Corporation, Verint Systems, Inc., and IPsoft, Inc.
Scope of the Study
Market Segments Covered in the Report:
- IT & Telecom
- Automotive & Transportation
- Media & Advertising
- Healthcare & Life Sciences
By Deployment Type
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- Natural Language Processing (NLP)
- Machine Learning
- Computer Vision
- Speech Recognition
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Google LLC
- Amazon Web Services, Inc.
- IBM Corporation
- Apple, Inc.
- SAP SE
- Wipro Limited.
- MicroStrategy, Inc.
- NVIDIA Corporation
- Verint Systems, Inc.
- IPsoft, Inc.
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