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IDC: European AI market is expected to grow steadily
International Data Corporation (IDC) Reveals European Artificial Intelligence (AI) Market Outlook For Years And Beyond: A Bright Future For The Industry.
Analysts say the ongoing pandemic has had a dual impact on the development of AI technology. Some companies, in particular from the transport industry, have reduced investment in the development of the corresponding systems due to various restrictions.
On the other hand, in a number of industries, the coronavirus, on the contrary, acted as a catalyst that provoked an increase in the demand for AI systems. This also applies to the healthcare sector.
One way or another, the market is showing growth. This year, according to IDC experts, the cost of artificial intelligence technologies in Europe will reach $ 12 billion. Expected double-digit annual cost increases in this area by 2024.
As for the global AI market, its volume in 2021 may reach $ 327.5 billion. This data takes into account the supply of software and hardware solutions in the field of AI, as well as the costs of all kinds of services in the relevant area.