According to a new report, Europe Artificial Intelligence Market (2016-2022), published by KBV Research, the Europe artificial intelligence market is estimated to grow at a CAGR of 43.2% from 2016 to 2022. The Germany market dominated the Europe Artificial Intelligence Market in 2015, and would continue to be a dominant market till 2022; thereby, growing at a CAGR of 41.7% during the forecast period. The UK market is expected to reach a market size of $793.5 million by 2022. However, Russia market is expected to grow at CAGR of 44.6% during 2016-2022.
The Machine learning segment contributed the larger revenue share to the Europe Artificial Intelligence Market in 2015, and would continue to be a dominant market till 2022 is expected to grow at a CAGR of 39.4% during the forecast period. The Natural language processing segment is expected to reach a market size of $860.9 million by 2022. However, Speech recognition segment is expected to grow at CAGR of 51.5% during 2016-2022.
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.
Europe Artificial Intelligence Market, by Technology
- Machine learning
- Natural language processing
- Image processing
- Speech recognition
Europe Artificial Intelligence Market, by Application
- Government & Defense
- Consumer Goods & Retail
- IT & Telecom
- Energy & Utilities
Europe Artificial Intelligence Market, by Country
- Rest of Europe