Market Research Report
European Artificial Intelligence (AI) Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||922247|
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|European Artificial Intelligence (AI) Market 2019-2025|
|Published: January 13, 2020||Content info:||
European Artificial Intelligence (AI) Market Size, Share & Trends Analysis Report by Offering (Hardware and Software & Services), By End-User Industry (Manufacturing, Automotive, IT and BFSI, Healthcare, E-Commerce & Logistics, Home Appliances, and Others), and Forecast 2019-2025
The European Artificial Intelligence market is estimated to grow significantly at a CAGR of 34.4% during the forecast period. Europe has a huge potential for the growth of AI owing to an advanced economy and significant investment. European Union is one of the unique economic and political unions amongst countries that together cover much of the continent. UK, Spain, Germany, France, and Italy are the major economies of Europe which are contributing significantly towards the growth of the market.
One of the major motivating factors that push the European region upward is the presence of supportive government initiatives. Europe is a fully developed region in terms of technological advancement. In April 2018, the European Commission planned to invest $10.5 billion to develop the first-ever Digital Europe program. Digital Europe program will significantly raise the competitive position of Europe Union in the international market. Within the program, Europe commission will invest to develop and reinforce the capabilities such as high-performance, computing, AI, cybersecurity, and advanced digital skills.
The market is segmented on the basis of offering, end-user industry, and country. Based on offering, the market is divided into software & services and hardware. The market for software and services was the highest market during the forecast period. Based on the end-user industry, the market is segmented into manufacturing, automotive, IT and BFSI, healthcare, e-commerce & logistics, home appliances, and others. On the basis of country, the market covers the analysis of UK, Spain, Germany, France, Italy, and Rest of Europe.
Some of the companies which are contributing to the growth of the European AI market include AIBrain Inc., Google LLC, IBM Corp., Microsoft Corp., Medtronic PLC and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
The market study of the European Artificial Intelligence (AI) market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.
The report is intended for IT companies, automobile companies, BFSI companies, private companies, healthcare companies, research institutes, hospitals, and government organizations for the overall market and competitive analysis. The report provides an in-depth analysis on market size, future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.