The Europe Composite AI Market would witness market growth of 36.6% CAGR during the forecast period (2023-2030).
AI has dramatically increased in recent years regarding acceptance and accessibility, solidifying its place as a crucial element in the technology industry. Composite AI is one of the most promising AI technologies in this field. Although it is still not very well known, it is becoming increasingly important for practical AI implementations.
Enterprises may get an unrivaled competitive advantage in the market by combining a variety of pertinent AI approaches to handle a given business problem, avoiding a concentration on one AI technique, and continually deploying decision flows and models to produce value. Therefore, the top companies operating in the market will have attractive prospects due to the growing need for better business processes, increased productivity, and continuous technical advances across numerous end-user sectors.
The development of platforms offering services to businesses and organizations (business-to-business, business-to-customers), applications to advance towards intelligent enterprise, and e-government have been largely attributed to Europe. The European Commission is boosting its expenditures in artificial intelligence via the framework program for research and innovation. The market is expected to expand in the area as artificial intelligence technology gains in popularity.
The Germany market dominated the Europe Composite AI Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $560.3 million by 2030. The UK market is estimated to grow a CAGR of 35.5% during (2023 - 2030). Additionally, The France market would exhibit a CAGR of 37.6% during (2023 - 2030).
Based on Technique, the market is segmented into Data Processing, Data Mining & Machine Learning, Conditioned Monitoring, Pattern Recognition and Proactive Mechanism & Others. Based on Vertical, the market is segmented into BFSI, Telecommunications, Retail & eCommerce, Healthcare & Lifesciences, Media & Entertainment, Energy & Power, Transportation & Logistics, Government & Defense, Manufacturing and Others. Based on Application, the market is segmented into Product Design & Development, Quality Control, Predictive Maintenance, Security & Surveillance and Customer Service & Others. Based on Offering, the market is segmented into Hardware (Processors, Memory Units, Networks and Others), Software (AI Development Platforms & Tools, ML Framework and AI Middleware & Others) and Services. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Composite AI Market is Projected to reach USD 8.5 Billion by 2030, at a CAGR of 36.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAS Institute, Inc., Microsoft Corporation, Google LLC (Alphabet Inc.), Salesforce, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), NVIDIA Corporation, Intel Corporation, SAP SE, and Squirro AG
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