Europe has a growing and thriving Artificial Intelligence industry. Artificial Intelligence is widely used in the automotive and healthcare sectors in Europe since it helps to improve the industries’ productivity. Over the forecast years of 2019-2027, the European Artificial Intelligence market is anticipated to exhibit a CAGR of 39.64%.
Europe has an expanding Artificial Intelligence industry that finds its applications in verticals like into healthcare, automotive and transportation and in industrial sector. Artificial intelligence is widely used in automotive and healthcare sectors in Europe since it helps to improve productivity. Of all the countries in the region, the German market is expected to progress with the strongest CAGR during the forecast period. The German Research Centre for Artificial Intelligence (the DFKI) is working on several projects focused on areas like artificial intelligence, augmented reality and machine learning. The institute aims to develop new and advanced AI solutions to cater to the increasing customer demands.
Some of the major companies competing in this market include Ipsoft Incorporated, Qlik Technologies, Microsoft Corporation, Microstrategy Inc., Apple Inc., Sizmek Inc., GE Healthcare, 7.AI, Inc., Next IT Corporation (Acquired By Verint), Uber Technologies Inc., NVIDIA Corporation, Shell Oil Company, Intel Corporation, International Business Machines Corporation (IBM) Corporation, and Google Inc.