Industry Insights | Market Trends | Highest number of Tables | 24/7 Analyst Support
According to a new report, Europe Artificial Intelligence Market (2018-2024), published by KBV Research, the Europe artificial intelligence market is estimated to grow at a CAGR of 42.8% from 2018 to 2024. The Germany market dominated the Europe Artificial Intelligence Market in 2017, and would continue to be a dominant market till 2024; thereby, growing at a CAGR of 41.2% during the forecast period. The UK market is expected to reach a market size of $1,560.6 million by 2024. However, Russia market is expected to grow at CAGR of 44.1% during 2018-2024.
The Machine learning segment contributed the larger revenue share to the Europe Artificial Intelligence Market in 2017, and would continue to be a dominant market till 2024 is expected to grow at a CAGR of 38.9% during the forecast period. The Natural language processing segment is expected to reach a market size of $1,693.1 million by 2024. However, Speech recognition segment is expected to grow at CAGR of 50.9% during 2018-2024.
The report highlights the adoption of Artificial Intelligence market in Europe. Based on the Technology, the Artificial Intelligence Market is segmented into Machine learning, Natural language processing, Image processing and Speech recognition market. On the basis of Application, the market is bifurcated into Government & Defense, BFSI, Consumer Goods & Retail, IT & Telecom, Healthcare, Energy & Utilities, Manufacturing, Education, Transportation and Others segment. The market is further geographically segmented into Germany, UK, France, Russia, Spain, Italy and Rest of Europe.
Key Players profiled in the report include IPSoft, Rocket Fuel Inc., Qlik Technologies Inc., Microstrategy Inc., Brighterion Inc., Microsoft Corporation, Google Inc., IBM Corporation, 24/7 Customer Inc., Next IT Corporation.
The market is segmented based on Technology, Application and Country.