Europe AI Governance Market Size, Share & Industry Trends Analysis Report By Component (Solution and Services), By Vertical, By Organization size (Large Enterprises and SMEs), By Deployment Mode, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe AI Governance Market would witness market growth of 33.7% CAGR during the forecast period (2022-2028).
A rapid increase in the capacity of dedicated AI-enabled GPUs to allow and enhance self-driving technologies and AI algorithms has resulted from the deployment of AI-enabled hardware. Furthermore, because of improved computation and decision-making skills, key AI traits, including greater self-control, self-regulation, and self-actuation, have increased the application of AI in the defense, military, and government sectors. One of its benefits is the development of AI approaches to enhance the precision of target detection in challenging combat conditions.
Regulations are rapidly evolving. Authorities may need help to keep up with the growing audit trails, procedures, frameworks, and rules. Due to rising expenses, misunderstandings, and resource waste, maintaining compliance has become challenging. Using artificial intelligence, these problems may be lessened. The ability to assess and apply the proper structure may aid businesses in effectively allocating their resources. Consequently, good AI governance may result in regulatory compliance.
A variety of regional sectors are increasingly using AI. According to the UK government, 432,000 enterprises, or around 15% of all businesses, utilize at least one AI technology. It is expected that 10% of companies, or 62,000 and 292,000 firms, will utilize AI in the future. 2% of businesses are testing AI at the moment. Businesses are more likely to employ AI as they expand. Furthermore, 68% of significant organizations, 34% of mid-sized companies, and 15% of small companies have taken this action. The latter group, which makes up the majority of the business environment in the UK, is credited with the 15% adoption rate on average for the nation. Consequently, it is projected that the European market will see rapid expansion in the years to come.
The Germany market dominated the Europe AI Governance Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $36,231.6 Thousands by 2028. The UK market is anticipated to grow at a CAGR of 32.6% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 34.6% during (2022 - 2028).
Based on Component, the market is segmented into Solution and Services. Based on Vertical, the market is segmented into BFSI, Healthcare & Lifesciences, Media & Entertainment, IT & Telecom, Retail, Government, Automotive and Others. Based on Organization size, the market is segmented into Large Enterprises and SMEs. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global AI Governance Market will Hit $562.9 Million by 2028, at a CAGR of 34.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Google LLC (Alphabet Inc.), IBM Corporation, SAP SE, Amazon Web Services, Inc. (Amazon.com, Inc.), Salesforce.com, Inc., Meta Platforms, Inc., SAS Institute, Inc., Tibco Software, Inc. (Vista Equity Partners), and QlikTech International AB.
Scope of the Study
Market Segments Covered in the Report:
- Healthcare & Lifesciences
- Media & Entertainment
- IT & Telecom
By Organization size
- Large Enterprises
By Deployment Mode
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Microsoft Corporation
- Google LLC (Alphabet Inc.)
- IBM Corporation
- SAP SE
- Amazon Web Services, Inc. (Amazon.com, Inc.)
- Salesforce.com, Inc.
- Meta Platforms, Inc.
- SAS Institute, Inc.
- Tibco Software, Inc. (Vista Equity Partners)
- QlikTech International AB
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