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European Artificial Intelligence Market Forecast, 2024-2028

Publisher IDC
Published Oct 30, 2024
Length 14 Pages
SKU # IDC19294139

Description

European Artificial Intelligence Market Forecast, 2024-2028


This IDC Market Forecast document analyzes the outlook of the European AI market for the 2023–2028 period."AI is becoming a transformative force in Europe, but realization of its full potential remains challenging. While our forecast shows explosive growth, particularly in GenAI, many organizations still struggle with data readiness issues, skills gaps, and ROI clarity. Success in this market will depend on balancing innovation with ethical and compliance concerns. Providers should also offer businesses the support they need to navigate this complex AI ecosystem." Ewa Zborowska, Research Director, European AI Strategies and Innovations.

Table of Contents

14 Pages

IDC Market Forecast Figure

Executive Summary

Advice for Technology Suppliers

Market Forecast

Spending Forecast by AI Type

AI Spending Forecast by Technology Category

AI Spending Forecast by Region

Market Context

Drivers and Inhibitors

Drivers

Business Optimization and Efficiency Needs

Pressure to Innovate and Stay Competitive

Inhibitors

AI Skills Gap and Brain Drain

Data Readiness and Infrastructure Limitations

Lack of Clarity on AI Use Cases and ROI

Significant Market Developments

Hyperscalers' Investments

European AI Regulations

Focus on AI Ethics and Trust

Emergence of Local AI Players

Sustainability Concerns

AI Chips Race

Changes from Prior Forecast

Market Definition

Methodology

Related Research

Pricing

Currency Rates
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