What Has Been the Growth of the Artificial Intelligence AI In Workplace Market So Far?
The artificial intelligence ai in workplace market has seen considerable growth due to a variety of factors.
• The market size of artificial intelligence (AI) in the workplace has seen exponential growth in the recent past. The size of this market is predicted to increase from a staggering $218 billion in 2024 to an overwhelming $303.12 billion in 2025, with a compound annual growth rate (CAGR) of 39.0%.
This steady growth observed in the historical period has resulted from several factors including the emergence of AI ethics and governance, wider adoption of digital transformation and automation in various sectors, the spread of AI-enabled communication tools, brisk industrial growth and urbanisation, and the growing use of AI in managing remote workforces.
What Are the Future Growth Projections for the Artificial Intelligence AI In Workplace Market Size?
The artificial intelligence ai in workplace market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for artificial intelligence (AI) in the workplace is projected to experience significant growth in the coming years, reaching a valuation of $1121.69 billion by 2029 with a compound annual growth rate (CAGR) of 38.7%.
This projected growth between now and the end of the forecast period can be linked to several factors including the rise in efficiency and cost savings, an increasing demand for custom-made customer experiences, the ongoing integration of AI in human resources (HR), the widespread use of virtual assistants, and the growing requirement for workforce skill enhancement and training programs. Major forecast trend highlights include developments in AI software, advanced user-friendly AI solutions, continuous upgrading of AI algorithms and machine learning models, integration of AI with the internet of things (IoT), and innovative advancements in AI-driven cybersecurity.
What Are The Key Drivers Fueling Growth In The Artificial Intelligence AI In Workplace Market?
The progression of digital transformation is projected to stimulate the expansion of artificial intelligence (AI) in the workplace market. It's all about implementing digital technology deeply into the entire business process, significantly reshaping how a business operates and the manner in which it offers value to its clientele. The stimulation of digital transformation can be ascribed to aspects such as augmented efficiency and productivity, improved decision-making and data application, as well as improved customer experience, scalability, and agility. AI enhances digital transmission at the workplace by optimizing data routing, improving security, identifying and amending errors, managing bandwidth, along with offering predictive maintenance and real-time monitoring. For example, in May 2023, the Ministry of Business, Innovation, and Employment, a government organization based in New Zealand, reported that the New Zealand digital technologies sector approximately contributed $7 billion to the GDP in 2021, boasting an impressive annual growth rate of 10.4%. Hence, the ascendance of digital transformation has been the driving force behind the growth of artificial intelligence (AI) in the workplace market.
What Are The Major Segments Within The Global Artificial Intelligence AI In Workplace Market?
The artificial intelligence (AI) in workplace market covered in this report is segmented –
1) By Component: Hardware, Software, Services
2) By Technology: Machine Learning, Computer Vision, Natural Language Processing, Speech Recognition, Other Technologies
3) By Industry Vertical: Information Technology (IT) And Telecommunication, Banking, Financial Services And Insurance (BFSI), Healthcare, Retail And E-Commerce, Manufacturing, Other Industry Verticals
Subsegments:
1) By Hardware: AI-Enabled Computers And Servers, Smart Meeting Room Devices, Wearable AI Devices, Robotics And Automation Tools, IoT Devices For Workplace Monitoring, AI-Powered Security Systems
2) By Software: AI-Driven Collaboration Tools, Project Management Software With AI Features, Employee Productivity And Performance Analytics Tools, Natural Language Processing (NLP) Applications, AI-Based Communication And Messaging Platforms, Virtual Assistants For Task Management
3) By Services: AI Consulting For Workplace Solutions, AI System Integration Services, Training And Support Services For AI Tools, Change Management And User Adoption Services, Data Analytics And Reporting Services, Managed AI Services For Workplace Operations
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Which Trends Are Expected To Transform The Artificial Intelligence AI In Workplace Market?
Key businesses in the AI in workplace marketplace are focusing on technological advancements like generative AI assistants, a move aimed at boosting productivity, automating mundane tasks, and providing personalized assistance to employees, ultimately driving organizational efficiency and innovation. The generative AI assistant is a novel tool designed to amplify productivity by letting users interact using straightforward language, thereby enabling them to quickly garner intelligent responses and actionable insights. For example, in September 2023, Joule, a generative AI co-pilot assimilated into SAP applications spanning HR, finance, supply chain, procurement, and customer experience, was launched by SAP SE, a software firm based in Germany. It improves the SAP user experience by enabling employees to articulate issues or pose questions in simple language, thus receiving contextually intelligent responses from SAP's vast data and third-party sources.
Who Are the Key Players In The Artificial Intelligence AI In Workplace Market?
Major companies operating in the artificial intelligence (AI) in workplace market are:
• Google LLC
• Samsung Electronics
• Microsoft Corporation
• General Electric
• Intel Corporation
• IBM Corporation
• Cisco Systems Inc.
• Oracle Corporation
• SAP SE
• Nvidia Corporation
• Salesforce Inc.
• Adobe Inc.
• ServiceNow Inc.
• Workday Inc.
• Amazon Web Services Inc.
• UiPath Inc.
• Automation Anywhere Inc.
• Zoho Corporation
• HiredScore Inc.
• AdvoLogix
What Is The Most Dominant Region In The Artificial Intelligence AI In Workplace Market?
North America was the largest region in the artificial intelligence (AI) in workplace market in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) in workplace market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
