Definition:
Artificial intelligence (AI) is a branch of computer science that focuses on creating machines able to perform tasks traditionally requiring human intelligence, such as perception, reasoning, and learning. The Artificial Intelligence (AI) market includes a wide range of applications, such as speech recognition, image processing, and autonomous vehicles and has seen rapid growth in recent years due to advancements in technology and increased investment. The Artificial Intelligence (AI) market includes software, hardware, and services that enable organizations to develop and deploy AI applications.
Structure:
The Artificial Intelligence (AI) market is structured into six markets based on the technology:
Additional Information:
The Artificial Intelligence (AI) market comprises three key performance indicators: market sizes, market sizes by industry, and users of AI tools. Market sizes are generated by the funding amount of Artificial Intelligence (AI) companies. Key players of the Artificial Intelligence (AI) market include companies such as Google, Open AI, IBM, and Microsoft.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Artificial Intelligence market in EMEA is experiencing rapid growth, driven by increased adoption of digital technologies, growing awareness of its benefits, and the convenience of online services. The market's elevated growth rate can be attributed to advancements in AI Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI, which are revolutionizing industries and enhancing efficiency. Factors such as government initiatives, investments, and collaborations are also contributing to the market's expansion in the region.
Customer preferences: As AI technology continues to advance, there is a growing trend in EMEA towards personalized and efficient customer experiences. This is driven by consumers' desire for convenience and efficiency, particularly in the fast-paced culture of urban areas. As a result, there has been a surge in demand for AI-powered chatbots and virtual assistants, as well as personalized recommendations and advertisements. This shift is also influenced by the increasing use of smartphones and social media, which have created a preference for instant and personalized interactions.
Trends in the market: In EMEA, the Artificial Intelligence market is experiencing a surge in demand for AI-powered chatbots, particularly in industries such as customer service and healthcare. This trend is driven by the need for efficient and cost-effective communication solutions, as well as the increasing adoption of virtual assistants by consumers. Additionally, there is a growing focus on using AI for predictive analytics and data-driven decision making in businesses. These trends indicate a shift towards more advanced AI technologies and a potential disruption of traditional business models. Industry stakeholders must adapt to these changes and invest in AI to remain competitive in the market.
Local special circumstances: In EMEA, the Artificial Intelligence market is heavily influenced by the diverse regulatory landscape across countries. For example, the European Union has strict data protection laws that impact the use of AI in areas such as healthcare and finance. In the Middle East, investment in AI is driven by government initiatives and the region's focus on developing smart cities. In Africa, the market is shaped by the continent's unique challenges, such as limited infrastructure and access to technology, leading to the development of innovative AI solutions for education and agriculture.
Underlying macroeconomic factors: The Artificial Intelligence Market in EMEA is heavily impacted by macroeconomic factors such as technological advancements, government policies, and investment in the technology sector. Countries with strong government support and favorable regulatory environments, along with robust investments in AI infrastructure, are experiencing faster market growth. Moreover, the increasing demand for AI solutions in various industries, such as healthcare, finance, and retail, is also driving the market in these regions. Additionally, the growing digitalization of industries and the need for efficient and cost-effective solutions are propelling the adoption of AI technologies in EMEA.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.
Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.
Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.
Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.
Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights