Spending on artificial intelligence solutions in Europe will exceed $20 billion in 2022
The International Data Corporation (IDC) published a fresh forecast for the European market of products and services based on artificial intelligence. Experts estimate that this year the AI market in Europe will reach $17.3 billion. 27 key areas of e-intelligence, which cover 19 industries, are under consideration. IDC predicts that expenses on artificial intelligence in Europe will amount to approximately $22.0 billion next year. By the middle of the decade, this industry will reach over $50 billion in terms of money. Thus, CAGR (compound annual growth rate) from 2021 to 2025 will be 26.7%.It is noted that the key segments in terms of AI costs in coming years will remain the banking and manufacturing sectors. In the long term, the greatest growth is predicted in healthcare.