The Europe Enterprise Artificial Intelligence Market would witness market growth of 30.3% CAGR during the forecast period (2022-2028).
The main causes propelling the demand for artificial intelligence in organizations include the growing application of AI to improve customer happiness, offer better organization management, and organize data sets. To meet the rising need for AI in the industry, a number of AI service providers are innovating and producing new products & services in partnership with numerous government institutes including research & development departments.
For example, in May 2022, IBM Corporation established a strategic partnership with first artificial intelligence research institution, the Mohamed bin Zayed University of Artificial Intelligence (MBZUAI), situated in Abu Dhabi, United Arab Emirates (UAE). The partnership is focused on advancing fundamental AI research as well as speeding up other types of scientific discoveries that would increase AI's capacity to assist in problem-solving in the future.
Popular themes like the industrial revolution and industrial automation are to blame for the rising demand in the European region. With advances in machine learning, the regional businesses have been recognized to invest in a range of automation technologies, including artificial intelligence, robotics, etc. The development of cognitive computing is anticipated to make it possible for regional businesses to replicate human abilities such as sensory perception, thinking, learning, and decision-making.
The Germany market dominated the Europe Enterprise Artificial Intelligence Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $4,343.3 million by 2028. The UK market is anticipated to grow at a CAGR of 29.2% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 31.3% during (2022 - 2028).
Based on Vertical, the market is segmented into IT & Telecom, BFSI, Automotive & Transportation, Retail, Media & Advertising, Healthcare & Life Sciences, and Others. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Technology, the market is segmented into Natural Language Processing (NLP), Machine Learning, Computer Vision, Speech Recognition, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Enterprise Artificial Intelligence Market will Hit $67.2 Billion by 2028, at a CAGR of 30.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, Amazon Web Services, Inc., IBM Corporation, Apple, Inc., SAP SE, Wipro Limited., MicroStrategy, Inc., NVIDIA Corporation, Verint Systems, Inc., and IPsoft, Inc.
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By Deployment Type
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