According to the latest report by IMARC Group “Europe Artificial Intelligence Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026“. The Europe artificial intelligence market report is expected to exhibit robust growth during 2021-2026. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Artificial intelligence (AI) refers to a technological solution for building smart machines capable of performing numerous tasks that require human intelligence. It includes several chipsets with high computing capabilities and core technologies, including natural language processing (NLP), deep learning, machine learning (ML), augmented and virtual reality (AR/VR), etc. Artificial intelligence offers human-like visual perception, speech recognition, translation, and decision-making based on past experiences. It can also process a large amount of data, provide meaningful insights, and assist in automation, minimizing errors, managing repetitive tasks, etc.
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Europe Artificial Intelligence Market Trends:
The expanding information technology (IT) sector and the widespread adoption of digitization that utilizes AI-integrated systems for streamlining the work process and improving operational efficiencies are primarily augmenting the Europe artificial intelligence market. Furthermore, the escalating demand for reliable cloud computing infrastructures to process accurate real-time data and enhance overall productivity is positively influencing the regional market. Apart from this, the increasing usage of AI-based algorithms and tools by various online websites is acting as another significant growth-inducing factor. Moreover, they enable organizations to analyze large amounts of data for extracting specific insights that are further used to enhance customer engagement. Besides this, the emerging trend of streaming content on over-the-top (OTT) platforms and extensive RD activities by key market players are also catalyzing the market growth. Additionally, continuous improvements in 5G infrastructures, the introduction of AI-powered industrial and surgical robots, and the inflating need for intelligent virtual assistants are expected to fuel the Europe artificial intelligence market in the coming years.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Narrow/Weak Artificial Intelligence
- General/Strong Artificial Intelligence
Breakup by Offering:
- Hardware
- Software
- Services
Breakup by Technology:
- Machine Learning
- Natural Language Processing
- Context-Aware Computing
- Computer Vision
- Others
Breakup by System:
- Intelligence Systems
- Decision Support Processing
- Hybrid Systems
- Fuzzy Systems
Breakup by End-Use Industry:
- Healthcare
- Manufacturing
- Automotive
- Agriculture
- Retail
- Security
- Human Resources
- Marketing
- Financial Services
- Transportation and Logistics
- Others
Breakup by Country:
- Germany
- France
- United Kingdom
- Italy
- Spain
- Others
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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