European Predictive, Advanced, and Visual Analytics Software Forecast, 2022-2027

This IDC Market Forecast presents the value of the European predictive, advanced, and visual analytics software market in 2022 and projects revenues over the 2023-2027 period. This document, produced in August 2023, includes the macroeconomic and market implications of geopolitical developments, including the Russia-Ukraine war. The European Union (EU) Commission expects gross domestic product (GDP) of EU's 27 members to grow at an average of 1.0% year on year in 2023, up from a previous estimate of 0.8%. The EU Commission also raised the 2024 GDP growth forecast from 1.6% to 1.7% year on year. By comparison, the U.K, economy is expected to be weaker, with the Bank of England anticipating year-on-year growth of 0.25% in 2023 and 0.75% in 2024."AI and real-time data have revolutionized the way organizations approach data analytics and visualization. In fact, organizations can gain a competitive edge by taking appropriate actions based on real-time, AI-powered data analysis. " - Senior Market Analyst Wiktor Markiewicz, IDC EMEA