The Global Enterprise Generative AI Market size is expected to reach $27.16 billion by 2031, rising at a market growth of 37.8% CAGR during the forecast period.
Generative AI is applied to optimize supply chain operations, such as inventory management, demand forecasting, and logistics. AI-driven models enable businesses to predict demand fluctuations, optimize routes, and improve procurement strategies, which leads to cost savings and more efficient operations. With the increasing complexity of global supply chains, companies are turning to generative AI solutions to gain real-time insights and enhance decision-making processes, making this segment a key growth area for AI in enterprise operations. Thus, the supply chain management segment held 16% revenue share in the market in 2023.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In August, 2024, Accenture and S&P Global have partnered to advance generative AI in financial services, launching an AI learning program for S&P's 35,000 employees and enhancing AI development and benchmarking tools to drive responsible innovation and performance across the industry. Additionally, In May, 2024, SAP SE announced a partnership with IBM, an American technology company, to integrate generative AI into SAP’s cloud solutions, enhancing business processes and industry innovation. This partnership aimed to optimize business outcomes, accelerate cloud adoption, and develop over 100 AI solutions across various industries, leveraging SAP Business Technology Platform.
Additionally, the global shift toward digital transformation has accelerated across industries as companies look to modernize their operations and stay competitive in an increasingly technology-driven world. Generative AI is a core enabler of digital transformation, as it can automate processes, enhance decision-making, and drive innovation across multiple areas. Thus, growing investment in digital transformation worldwide is driving the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations and Agreements.
The enterprise generative AI market is rapidly evolving, with intense competition driven by advancements in AI models, cloud infrastructure, and integration capabilities. Companies focus on delivering scalable, secure, and cost-effective solutions tailored to diverse industries. Key differentiators include model accuracy, customization, regulatory compliance, and AI ethics. Market players invest in acquisitions, partnerships, and research to enhance capabilities. As demand for automation, content generation, and AI-driven insights grows, competition intensifies around innovation, accessibility, and enterprise-grade security to gain market leadership.
Generative AI is applied to optimize supply chain operations, such as inventory management, demand forecasting, and logistics. AI-driven models enable businesses to predict demand fluctuations, optimize routes, and improve procurement strategies, which leads to cost savings and more efficient operations. With the increasing complexity of global supply chains, companies are turning to generative AI solutions to gain real-time insights and enhance decision-making processes, making this segment a key growth area for AI in enterprise operations. Thus, the supply chain management segment held 16% revenue share in the market in 2023.
The major strategies followed by the market participants are Partnership as the key developmental strategy to keep pace with the changing demands of end users. For instance, In August, 2024, Accenture and S&P Global have partnered to advance generative AI in financial services, launching an AI learning program for S&P's 35,000 employees and enhancing AI development and benchmarking tools to drive responsible innovation and performance across the industry. Additionally, In May, 2024, SAP SE announced a partnership with IBM, an American technology company, to integrate generative AI into SAP’s cloud solutions, enhancing business processes and industry innovation. This partnership aimed to optimize business outcomes, accelerate cloud adoption, and develop over 100 AI solutions across various industries, leveraging SAP Business Technology Platform.
Cardinal Matrix - Market Competition Analysis
Based on the Analysis presented in the Cardinal matrix; Google LLC and Microsoft Corporation are the forerunners in the Enterprise Generative AI Market. Companies such as NVIDIA Corporation, Oracle Corporation, Accenture PLC are some of the key innovators in Enterprise Generative AI Market. In May, 2024, Microsoft Corporation teamed up with Wipro, an IT company, to launch GenAI-powered cognitive assistants for financial services: Wipro GenAI Investor Intelligence, Investor Onboarding, and Loan Origination. These solutions, powered by Azure OpenAI, aim to enhance market intelligence, accelerate onboarding, and streamline loan origination, providing personalized and efficient service to clients.
Market Growth Factors
Automation has become a key priority for businesses aiming to streamline operations, cut costs, and enhance overall efficiency. Generative AI plays a crucial role in this shift by automating repetitive and mundane tasks across various business functions, such as customer service, content creation, and marketing. Therefore, increased demand for automation across business operations drives the market's growth.Additionally, the global shift toward digital transformation has accelerated across industries as companies look to modernize their operations and stay competitive in an increasingly technology-driven world. Generative AI is a core enabler of digital transformation, as it can automate processes, enhance decision-making, and drive innovation across multiple areas. Thus, growing investment in digital transformation worldwide is driving the market's growth.
Market Restraining Factors
One significant barrier to the widespread adoption of generative AI is the high initial investment required for infrastructure, software, and talent. Enterprises need powerful computing systems capable of handling the complex computations required by AI models, which often means investing in high-performance servers, cloud infrastructure, and specialized hardware like GPUs. Thus, high initial investment and infrastructure costs impede the market's growth.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Partnerships, Collaborations and Agreements.
Driving and Restraining Factors
Drivers
- Increased Demand for Automation Across Business Operations
- Rising Need for Personalized Customer Experiences
- Growing Investment in Digital Transformation Worldwide
Restraints
- High Initial Investment and Infrastructure Costs
- Data Privacy and Security Concerns
Opportunities
- Expanding Personalized Customer Experiences in Real-Time
- Enabling Smarter Data-Driven Customer Support Solutions
Challenges
- Integration Challenges with Existing Systems and Processes
- Managing the High Complexity of AI Models and Infrastructure
Component Outlook
Based on component, the market is characterized into software and services. The services segment procured 30% revenue share in the AI in 2023. As the adoption of generative AI technology continues to rise, enterprises seek expert services to navigate the complexities of AI integration and ensure successful implementation. These services include consulting, system integration, customization, training, and ongoing support to help businesses fully leverage AI capabilities.Model Type Outlook
On the basis of model type, the market is classified into text, image/video, audio, and code. The audio segment recorded 13% revenue share in the market in 2023. This segment encompasses AI-driven tools for voice synthesis, speech recognition, and audio content generation, gaining traction in industries like customer support, entertainment, and media production. Enterprises are increasingly leveraging generative AI to automate tasks such as transcribing voice to text, generating realistic synthetic voices for virtual assistants, and creating audio content for marketing or entertainment purposes.
Application Outlook
By application, the market is divided into marketing & sales, customer service, product development, supply chain management, and others. The product development segment garnered 19% revenue share in the market in 2023. Generative AI is increasingly vital in accelerating product design, prototyping, and innovation. By leveraging AI, businesses can generate new product concepts, analyze market trends, and create prototypes more efficiently than ever. AI-driven solutions also support research and development by predicting product performance and identifying potential areas for improvement.Vertical Outlook
Based on vertical, the market is segmented into IT & telecom, BFSI, retail & e-commerce, healthcare, manufacturing, media & entertainment, and others. The IT & telecom segment procured 27% revenue share in the market in 2023. This sector’s dominance can be attributed to the extensive adoption of generative AI technologies to improve operational efficiency, automate network management, and enhance customer service.Market Competition and Attributes
The enterprise generative AI market is rapidly evolving, with intense competition driven by advancements in AI models, cloud infrastructure, and integration capabilities. Companies focus on delivering scalable, secure, and cost-effective solutions tailored to diverse industries. Key differentiators include model accuracy, customization, regulatory compliance, and AI ethics. Market players invest in acquisitions, partnerships, and research to enhance capabilities. As demand for automation, content generation, and AI-driven insights grows, competition intensifies around innovation, accessibility, and enterprise-grade security to gain market leadership.
By Regional Analysis
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment witnessed 26% revenue share in the market in 2023. This region is experiencing rapid digital transformation, with countries like China, Japan, India, and South Korea at the forefront of AI adoption. The increasing demand for generative AI across various sectors, including manufacturing, retail, and healthcare, has driven market growth in Asia Pacific.Recent Strategies Deployed in the Market
- Aug-2024: Accenture and S&P Global have partnered to advance generative AI in financial services, launching an AI learning program for S&P's 35,000 employees and enhancing AI development and benchmarking tools to drive responsible innovation and performance across the industry.
- May-2024: SAP SE announced a partnership with IBM, an American technology company, to integrate generative AI into SAP’s cloud solutions, enhancing business processes and industry innovation. This partnership aimed to optimize business outcomes, accelerate cloud adoption, and develop over 100 AI solutions across various industries, leveraging SAP Business Technology Platform.
- May-2024: Oracle Corporation announced a partnership with Accenture, a global consultancy firm,to develop generative AI solutions. Leveraging Oracle Cloud Infrastructure, the two companies aimed to improve efficiency, resilience, and customer experiences, focusing initially on digital finance transformation and expanding to other industries.
- May-2024: Accenture announced the acquisition of Parsionate, a data consultancy. This acquisition would strengthen Accenture’s ability to deliver innovative, data-driven solutions across various industries, leveraging Parsionate’s expertise in data strategy and technology implementation.
- May-2024: Oracle Corporation came into partnership with Accenture, a global consultancy firm, to accelerate generative AI adoption in finance. Using Oracle Cloud Infrastructure and Accenture’s switchboard, they aim to enhance financial planning, operations, and growth.
- Apr-2024: Salesforce, Inc. released new capablities on Einstien AI platform. The new capabilities help banks manage transaction disputes efficiently. Features include Transaction Dispute Management and Einstein Copilot Banking Actions, which automate tasks, reduce errors, and improve customer communications, addressing the rise in digital payment disputes and enhancing service agent productivity.
- Apr-2024: Intel Corporation partnered with Infosys, an Indian IT company, to accelerate AI adoption in enterprises. The partnership would enhance performance, cost-effectiveness, and responsible AI use.
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 Geography
- North America
- US
- Canada
- Mexico
- Rest of North America
- Europe
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
- LAMEA
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
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. Global Enterprise Generative AI Market by Component
Chapter 6. Global Enterprise Generative AI Market by Model Type
Chapter 7. Global Enterprise Generative AI Market by Application
Chapter 8. Global Enterprise Generative AI Market by Vertical
Chapter 9. Global Enterprise Generative AI Market by Region
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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