Int'l : +1(646) 600-5072 | query@kbvresearch.com
Int'l : +1(646) 600-5072 | query@kbvresearch.com
Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, published by KBV research, 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.
The Software segment is leading the Global Enterprise Generative AI Market by Component in 2023; thereby, achieving a market value of $18.6 billion by 2031. As companies increasingly embrace automation, generative AI software provides innovative solutions that improve productivity, streamline workflows, and enhance decision-making processes. These software solutions offer a range of functionalities, such as content generation, data analysis, predictive modelling, and personalization, all of which are becoming essential for modern enterprises.
The text segment is anticipating a CAGR of 37.0% during (2024 - 2031). This can be attributed to the widespread use of text-based applications such as natural language processing, chatbots, content generation, and sentiment analysis. Businesses increasingly employ text-generation tools to enhance customer service, automate content creation, and support data-driven decision-making. The high demand for these AI-driven solutions, which help streamline communication and create personalized experiences, contributed significantly to the growth of the text segment.
The Marketing & Sales segment is generating the maximum revenue in the Global Enterprise Generative AI Market by Application in 2023; thereby, achieving a market value of $7.4 billion by 2031. This is largely due to the increasing reliance on AI-driven tools for optimizing customer engagement, lead generation, and personalized marketing campaigns. Generative AI enables businesses to create tailored content, such as advertisements, email campaigns, and social media posts, that resonate with their target audiences. Additionally, AI-powered analytics tools are helping businesses better understand customer behaviour and predict trends, which enhances decision-making and drives sales performance.
The BFSI segment is registering a CAGR of 36.6% during (2024 - 2031). In the banking, financial services, and insurance industries, generative AI is used for various applications, including fraud detection, risk assessment, and customer support. AI models help financial institutions predict market trends, automate routine tasks, and provide personalized services to clients. The growing need for data-driven decision-making and enhanced customer experiences has spurred the demand for generative AI in the BFSI sector, making it one of the key contributors to the market’s overall growth.
Full Report: https://www.kbvresearch.com/enterprise-generative-ai-market/
The North America market dominated the Global Enterprise Generative AI Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $10.17 billion by 2031. The Europe market is experiencing a CAGR of 37.2% during (2024 - 2031). Additionally, The Asia Pacific market would exhibit a CAGR of 38.5% during (2024 - 2031).
By Component
By Model Type
By Application
By Vertical
By Geography
Related Reports:
