The North America Enterprise Generative AI Market is expected to witness market growth of 37.1% CAGR during the forecast period (2024-2031).
The US market dominated the North America Enterprise Generative AI Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $7.30 billion by 2031. The Canada market is experiencing a CAGR of 40.1% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 38.9% during 2024-2031.
Companies that leverage generative AI are better positioned to innovate and stay ahead of their competitors. From automating creative processes to generating insights for strategic decisions, generative AI is becoming a key enabler of business success. Early adoption of AI-powered tools gives companies a competitive advantage, particularly in industries where speed and innovation are critical. Many enterprises are forming partnerships with AI technology providers, startups, and research organizations to accelerate the adoption of generative AI.
Moreover, by collaborating with experts in the field, businesses can access cutting-edge AI tools and leverage the expertise needed to integrate these technologies into their operations. As the enterprise generative AI market grows, several key trends shape its evolution. Companies are increasingly seeking AI models tailored to their specific needs. Customizing generative AI tools allows enterprises to ensure that the outputs align with their business objectives, industry requirements, and regulatory guidelines. Customized models can also be more efficient, saving time and resources in the long run.
The rapid adoption of generative AI technologies in Canada and Mexico plays a crucial role in expanding the market. Statistics Canada reports that, in the first quarter of 2024, approximately 9.3% of Canadian businesses already used generative AI, with an additional 4.6% planning to adopt it soon. The early adoption of generative AI among Canadian enterprises indicates a growing recognition of its potential to enhance business processes such as content generation, customer support, and data analysis. This early shift positions the Canada as a key player in driving the demand for enterprise generative AI solutions.
The US market dominated the North America Enterprise Generative AI Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $7.30 billion by 2031. The Canada market is experiencing a CAGR of 40.1% during 2024-2031. Additionally, the Mexico market is expected to exhibit a CAGR of 38.9% during 2024-2031.
Companies that leverage generative AI are better positioned to innovate and stay ahead of their competitors. From automating creative processes to generating insights for strategic decisions, generative AI is becoming a key enabler of business success. Early adoption of AI-powered tools gives companies a competitive advantage, particularly in industries where speed and innovation are critical. Many enterprises are forming partnerships with AI technology providers, startups, and research organizations to accelerate the adoption of generative AI.
Moreover, by collaborating with experts in the field, businesses can access cutting-edge AI tools and leverage the expertise needed to integrate these technologies into their operations. As the enterprise generative AI market grows, several key trends shape its evolution. Companies are increasingly seeking AI models tailored to their specific needs. Customizing generative AI tools allows enterprises to ensure that the outputs align with their business objectives, industry requirements, and regulatory guidelines. Customized models can also be more efficient, saving time and resources in the long run.
The rapid adoption of generative AI technologies in Canada and Mexico plays a crucial role in expanding the market. Statistics Canada reports that, in the first quarter of 2024, approximately 9.3% of Canadian businesses already used generative AI, with an additional 4.6% planning to adopt it soon. The early adoption of generative AI among Canadian enterprises indicates a growing recognition of its potential to enhance business processes such as content generation, customer support, and data analysis. This early shift positions the Canada as a key player in driving the demand for enterprise generative AI solutions.
List of Key Companies Profiled
- Accenture PLC
- SAS Institute Inc.
- Google LLC
- Salesforce, Inc.
- Microsoft Corporation
- Adobe, Inc.
- OpenAI, LLC
- IBM Corporation
- NVIDIA Corporation
- Intel Corporation
- SAP SE
- Oracle Corporation
Market Report Segmentation
By Component
- Software
- Services
By Model Type
- Text
- Image/Video
- Code
- Audio
By Application
- Marketing & Sales
- Customer Service
- Product Development
- Supply Chain Management
- Other Application
By Vertical
- IT & Telecom
- BFSI
- Retail & E-commerce
- Healthcare
- Manufacturing
- Media & Entertainment
- Other Vertical
By Country
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. North America Enterprise Generative AI Market by Component
Chapter 6. North America Enterprise Generative AI Market by Model Type
Chapter 7. North America Enterprise Generative AI Market by Application
Chapter 8. North America Enterprise Generative AI Market by Vertical
Chapter 9. North America Enterprise Generative AI Market by Country
Chapter 10. Company Profiles
Companies Mentioned
- Accenture PLC
- SAS Institute Inc.
- Google LLC
- Salesforce, Inc.
- Microsoft Corporation
- Adobe, Inc.
- OpenAI, LLC
- IBM Corporation
- NVIDIA Corporation
- Intel Corporation
- SAP SE
- Oracle Corporation
Methodology
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