According to the latest report by IMARC Group, titled “Europe Artificial Intelligence Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the europe artificial intelligence market expected to continue its robust growth during the forecast period (2021-2026).
Artificial intelligence (AI) refers to a segment of computer science that aims to imitate human intelligence to perform various activities in real-time. It is widely used for multiple purposes, such as visual perception, voice recognition, decision-making, handwriting recognition, language translation, etc. Artificial intelligence has numerous benefits, including better adaptability, higher time-efficiency, enhanced accuracy, improved productivity, etc. Owing to these benefits, it is used across various sectors, such as automobile, healthcare, trade, construction, defense, transportation, banking, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Europe Artificial Intelligence Market Trends:
The rising internet connectivity and increasing penetration of smart devices are primarily driving the Europe artificial intelligence market. Furthermore, the European Commission is heavily investing in numerous innovation programs for supporting the development of AI applications. Additionally, the continuous government support towards the expansion of the 5G network is further propelling the demand for AI. Besides this, the growing deployment of AI-based algorithms across e-commerce platforms for gathering specific insights is also providing a thrust to the market. Moreover, the rising integration of image recognition technology with optical character identification is expected to further bolster the demand for AI in drones, robots, and self-driving cars, over the forecasted period.
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Europe Artificial Intelligence Market 2021-2026 Analysis and Segmentation:
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