The Europe Artificial Intelligence Market size is expected to reach US$ 428.5 Billion by 2031 from US$ 52.4 Billion in 2024. The market is estimated to record a CAGR of 36.3% from 2025 to 2031.
Executive Summary and Europe Artificial Intelligence Market Analysis:The Europe artificial intelligence market is segmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. There is a high demand for AI and machine learning software development services in European countries; this can be attributed to the rising awareness of the potential of AI and machine learning, a severe shortage of skilled workforce, and the desire of many businesses and governments to take advantage of AI technologies. According to data published by Center for the Promotion of Imports (CBI), which is part of the Netherlands Enterprise Agency, in June 2023, only 8% of European firms used AI technology in 2021, and the share doubled in January 2023. Similarly, in 2022, the launch of ChatGPT increased the use of AI technology in Europe; around 75% of European businesses were utilizing AI technology in 2023. The European artificial intelligence market is growing at a significant pace owing to high adoption and investments in AI technology. Moreover, increasing government initiatives and support toward the adoption of AI technology in tech startups and SMEs are creating opportunities in the market. In September 2024, the European Commission revealed that more than 100 enterprises have signed the EU Artificial Intelligence (AI) Pact to implement AI technology in their operations. The signatories include international organizations as well as European SMEs from a variety of industries, including IT, telecommunications, healthcare, banking, automotive, and aerospace. This pact promotes their voluntary commitment to begin applying the principles of the AI Act [Regulation (EU) 2024/1689] prior to AI implementation. It strengthens collaboration between the EU AI Office and other relevant stakeholders, including industry, civil society, and academia. At the same time, the regulation seeks to reduce administrative and financial burdens for businesses, particularly SMEs.
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Europe Artificial Intelligence Market: Strategic Insights
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- By Component, the market is segmented into Software, Hardware, and Services. Software held the largest share of the market in 2024.
- By Deployment, the market is segmented into Cloud and On-Premises. Cloud held a larger share of the market in 2024.
- By Organization Size, the market is segmented into Large Enterprises and SMEs. Large Enterprises held a larger share of the market in 2024.
- By Industry Vertical, the market is segmented into IT and Telecom, BFSI, Healthcare, Manufacturing, Retail and E-Commerce, Automotive, and Others. IT and Telecom held the largest share of the market in 2024.
The EU is advancing AI adoption through its AI Act, the first major regulatory framework for trustworthy AI. It's investing over 1 billion annually via the Horizon Europe program and Digital Europe. Member states also co-fund national AI centers. The focus is on responsible AI, industrial AI adoption, and safeguarding data rights across sectors. Additionally, the UK has launched an ambitious national AI strategy aimed at becoming a global leader in artificial intelligence by 2030. This strategy, unveiled in January 2025, is built around the AI Opportunities Action Plan, which incorporates 50 recommendations to drive innovation, economic growth, and public sector efficiency.
Tech and consulting companies, including Accenture Plc, Contents SpA, Aleph Alpha GmbH, and Mistral AI, are investing in AI technology. In June 2023, Accenture Plc announced an investment of US$3 billion to accelerate the development of new AI-based solutions. The company is planning to use these solutions to help businesses from across 19 industries, such as manufacturing, retail, and healthcare, among others. These investments are made to develop and implement AI technology in various processes to manage a high volume of data. The new strategies of forward-looking economies are to lure international tech giants by way of high-impact collaborations that bring high-end infrastructure local while catering to overseas demand. Thus, initiatives and investments by governments and private organizations support the adoption of AI.
By country, the Europe Artificial Intelligence Market is segmented into the United Kingdom, Germany, France, Italy, Russia, and the Rest of Europe. The United Kingdom held the largest share in 2024.
According to Bank of England data from November 2024, 75% of businesses in the UK have already employed AI in their operations, while another 10% of businesses are planning to adopt it within the next 3 years. These stats indicate an increase from the source's 2022 study, which found that 58% of businesses were utilizing AI, and an additional 14% had plans of utilizing it. AI-based solutions enable businesses to automate data management processes by eliminating inconsistencies and duplication. According to the GOV.UK data from November 2024, approximately 524 enterprises in the UK have deployed AI, which employs over 12,000 people and generates more than £1 billion (~US$ 1.04 billion) to be invested in the adoption of AI technology. These enterprises provide customers with the tools they need to build or deploy AI responsibly. The increased demand for AI encourages market players to develop AI infrastructure and advance AI software to meet their customers' demands. In June 2024, Salesforce, Inc. chose London to build its first AI Center. The center will stimulate collaboration by bringing together industry experts, partners, and customers to accelerate AI innovation while providing crucial skill development opportunities. Hence, the rising awareness and significant benefits provided by AI solutions would create further opportunities for the artificial intelligence market in the UK during the forecast period.
Europe Artificial Intelligence Market Company ProfilesSome of the key players operating in the market include Amazon Web Services Inc., International Business Machines Corp, Microsoft Corp, SAP SE, Google LLC, Accenture Plc, SAS Institute Inc., Intel Corp, NVIDIA Corp, and Advanced Micro Devices Inc.
These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
Europe Artificial Intelligence Market Research MethodologyThe following methodology has been followed for the collection and analysis of data presented in this report:
Secondary Research
The research process begins with comprehensive secondary research, utilizing internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Company websites,
annual reports, financial statements, broker analyses, and investor presentationsIndustry trade journals
and other relevant publicationsGovernment documents,
statistical databases, and market reportsNews articles,
press releases, and webcasts specific to companies operating in the market
Note:
All financial data included in the Company Profiles section has been standardized to US$. For companies reporting in other currencies, figures have been converted to US$ using the relevant exchange rates for the corresponding year.Primary Research
The Insight Partners conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis and gain valuable insights. These research interviews are designed to:
- Validate and refine findings from secondary research
- Enhance the expertise and market understanding of the analysis team
- Gain insights into market size, trends, growth patterns, competitive dynamics, and future prospects
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
Industry stakeholders:
Vice Presidents, Business Development Managers, Market Intelligence Managers, and National Sales ManagersExternal experts:
Valuation specialists, research analysts, and key opinion leaders with industry-specific expertise
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
UK dominated the Europe artificial intelligence market in 2023.
Rising adoption in various industries, government initiatives and investments to support adoption of AI, and growing demand for multimodal Al are the major factors that propel the Europe artificial intelligence market.
Burgeoning popularity of agentic Al to play a significant role in the Europe artificial intelligence market in the coming years.
The key players holding majority shares in the Europe artificial intelligence market are Accenture Plc, Advanced Micro Devices Inc, Google LLC, International Business Machines Corp, Intel Corp, Microsoft Corp, NVIDIA Corp, Amazon Web Services Inc, and SAS Institute Inc.
The Europe artificial intelligence market is expected to reach US$ 545.48 billion by 2031.
The Europe artificial intelligence market is estimated to register a CAGR of 37.5% during the forecast period 2023–2031.
1. Introduction
1.1 Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macroeconomic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country-level data:
4. Artificial Intelligence Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.4 List of Vendors in the Value Chain
5. Europe Artificial Intelligence Market - Key Market Dynamics
5.1 Market Drivers
5.2 Market Restraints
5.3 Market Opportunities
5.4 Future Trends
5.5 Impact of Drivers and Restraints:
6. Artificial Intelligence Market - Europe Market Analysis
6.1 Europe Artificial Intelligence Market Revenue (US$ Billion), 2024 - 2031
6.2 Europe Artificial Intelligence Market Forecast and Analysis
7. Europe Artificial Intelligence Market Revenue Analysis - by Component
7.1 Software
7.1.1 Overview
7.1.2 Software: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
7.2 Hardware
7.2.1 Overview
7.2.2 Hardware: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
7.3 Services
7.3.1 Overview
7.3.2 Services: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
8. Europe Artificial Intelligence Market Revenue Analysis - by Deployment
8.1 Cloud
8.1.1 Overview
8.1.2 Cloud: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
8.2 On Premises
8.2.1 Overview
8.2.2 On Premises: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
9. Europe Artificial Intelligence Market Revenue Analysis - by Organization Size
9.1 Large Enterprises
9.1.1 Overview
9.1.2 Large Enterprises: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
9.2 SMEs
9.2.1 Overview
9.2.2 SMEs: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
10. Europe Artificial Intelligence Market Revenue Analysis - by Industry Vertical
10.1 IT and Telecom
10.1.1 Overview
10.1.2 IT and Telecom: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
10.2 BFSI
10.2.1 Overview
10.2.2 BFSI: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
10.3 Healthcare
10.3.1 Overview
10.3.2 Healthcare: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
10.4 Manufacturing
10.4.1 Overview
10.4.2 Manufacturing: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
10.5 Retail and E-Commerce
10.5.1 Overview
10.5.2 Retail and E-Commerce: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
10.6 Automotive
10.6.1 Overview
10.6.2 Automotive: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
10.7 Others
10.7.1 Overview
10.7.2 Others: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
11. Europe Artificial Intelligence Market - Country Analysis
11.1 Europe
11.1.1 Europe Artificial Intelligence Market Revenue and Forecast and Analysis - by Country
11.1.1.1 Europe Artificial Intelligence Market Revenue and Forecast and Analysis - by Country
11.1.2.2 United Kingdom: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
11.1.2.2.1 United Kingdom: Europe Artificial Intelligence Market Share - by Component
11.1.2.2.2 United Kingdom: Europe Artificial Intelligence Market Share - by Deployment
11.1.2.2.3 United Kingdom: Europe Artificial Intelligence Market Share - by Organization Size
11.1.2.2.4 United Kingdom: Europe Artificial Intelligence Market Share - by Industry Vertical
11.2.3.3 Germany: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
11.2.3.3.1 Germany: Europe Artificial Intelligence Market Share - by Component
11.2.3.3.2 Germany: Europe Artificial Intelligence Market Share - by Deployment
11.2.3.3.3 Germany: Europe Artificial Intelligence Market Share - by Organization Size
11.2.3.3.4 Germany: Europe Artificial Intelligence Market Share - by Industry Vertical
11.3.4.4 France: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
11.3.4.4.1 France: Europe Artificial Intelligence Market Share - by Component
11.3.4.4.2 France: Europe Artificial Intelligence Market Share - by Deployment
11.3.4.4.3 France: Europe Artificial Intelligence Market Share - by Organization Size
11.3.4.4.4 France: Europe Artificial Intelligence Market Share - by Industry Vertical
11.4.5.5 Italy: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
11.4.5.5.1 Italy: Europe Artificial Intelligence Market Share - by Component
11.4.5.5.2 Italy: Europe Artificial Intelligence Market Share - by Deployment
11.4.5.5.3 Italy: Europe Artificial Intelligence Market Share - by Organization Size
11.4.5.5.4 Italy: Europe Artificial Intelligence Market Share - by Industry Vertical
11.5.6.6 Russia: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
11.5.6.6.1 Russia: Europe Artificial Intelligence Market Share - by Component
11.5.6.6.2 Russia: Europe Artificial Intelligence Market Share - by Deployment
11.5.6.6.3 Russia: Europe Artificial Intelligence Market Share - by Organization Size
11.5.6.6.4 Russia: Europe Artificial Intelligence Market Share - by Industry Vertical
11.6.7.7 Rest of Europe: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
11.6.7.7.1 Rest of Europe: Europe Artificial Intelligence Market Share - by Component
11.6.7.7.2 Rest of Europe: Europe Artificial Intelligence Market Share - by Deployment
11.6.7.7.3 Rest of Europe: Europe Artificial Intelligence Market Share - by Organization Size
11.6.7.7.4 Rest of Europe: Europe Artificial Intelligence Market Share - by Industry Vertical
12 Competitive Landscape
12.1 Heat Map Analysis by Key Players
12.2 Company Positioning & Concentration
13 Industry Landscape
13.1 Overview
13.2 New Product Development
13.3 Merger and Acquisition
13.4 Other Strategic Developments
14 COMPANY PROFILES
14.1 Amazon Web Services Inc
14.1.1 Key Facts
14.1.2 Business Description
14.1.3 Products and Services
14.1.4 Financial Overview
14.1.5 SWOT Analysis
14.1.6 Key Developments
14.2 International Business Machines Corp
14.2.1 Key Facts
14.2.2 Business Description
14.2.3 Products and Services
14.2.4 Financial Overview
14.2.5 SWOT Analysis
14.2.6 Key Developments
14.3 Microsoft Corp
14.3.1 Key Facts
14.3.2 Business Description
14.3.3 Products and Services
14.3.4 Financial Overview
14.3.5 SWOT Analysis
14.3.6 Key Developments
14.4 SAP SE
14.4.1 Key Facts
14.4.2 Business Description
14.4.3 Products and Services
14.4.4 Financial Overview
14.4.5 SWOT Analysis
14.4.6 Key Developments
14.5 Google LLC
14.5.1 Key Facts
14.5.2 Business Description
14.5.3 Products and Services
14.5.4 Financial Overview
14.5.5 SWOT Analysis
14.5.6 Key Developments
14.6 Accenture Plc
14.6.1 Key Facts
14.6.2 Business Description
14.6.3 Products and Services
14.6.4 Financial Overview
14.6.5 SWOT Analysis
14.6.6 Key Developments
14.7 SAS Institute Inc
14.7.1 Key Facts
14.7.2 Business Description
14.7.3 Products and Services
14.7.4 Financial Overview
14.7.5 SWOT Analysis
14.7.6 Key Developments
14.8 Intel Corp
14.8.1 Key Facts
14.8.2 Business Description
14.8.3 Products and Services
14.8.4 Financial Overview
14.8.5 SWOT Analysis
14.8.6 Key Developments
14.9 NVIDIA Corp
14.9.1 Key Facts
14.9.2 Business Description
14.9.3 Products and Services
14.9.4 Financial Overview
14.9.5 SWOT Analysis
14.9.6 Key Developments
14.10 Advanced Micro Devices Inc
14.10.1 Key Facts
14.10.2 Business Description
14.10.3 Products and Services
14.10.4 Financial Overview
14.10.5 SWOT Analysis
14.10.6 Key Developments
15. Appendix
15.1 About The Insight Partners
List of Tables
Table 1. Europe Artificial Intelligence Market Segmentation
Table 2. List of Vendors
Table 3. Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Table 4. Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Component
Table 5. Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Deployment
Table 6. Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Organization Size
Table 7. Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Industry Vertical
Table 8. Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Country
Table 9. United Kingdom: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Component
Table 10. United Kingdom: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Deployment
Table 11. United Kingdom: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Organization Size
Table 12. United Kingdom: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Industry Vertical
Table 13. Germany: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Component
Table 14. Germany: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Deployment
Table 15. Germany: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Organization Size
Table 16. Germany: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Industry Vertical
Table 17. France: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Component
Table 18. France: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Deployment
Table 19. France: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Organization Size
Table 20. France: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Industry Vertical
Table 21. Italy: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Component
Table 22. Italy: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Deployment
Table 23. Italy: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Organization Size
Table 24. Italy: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Industry Vertical
Table 25. Russia: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Component
Table 26. Russia: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Deployment
Table 27. Russia: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Organization Size
Table 28. Russia: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Industry Vertical
Table 29. Rest of Europe: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Component
Table 30. Rest of Europe: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Deployment
Table 31. Rest of Europe: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Organization Size
Table 32. Rest of Europe: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion) - by Industry Vertical
Table 33. Heat Map Analysis by Key Players
List of Figures
Figure 1. Europe Artificial Intelligence Market Segmentation - Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: Artificial Intelligence Market
Figure 4. Europe Artificial Intelligence Market - Key Market Dynamics
Figure 5. Impact Analysis of Drivers and Restraints
Figure 6. Europe Artificial Intelligence Market Revenue (US$ Billion), 2024 - 2031
Figure 7. Europe Artificial Intelligence Market Share (%) - by Component, 2024 and 2031
Figure 8. Software: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 9. Hardware: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 10. Services: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 11. Europe Artificial Intelligence Market Share (%) - by Deployment, 2024 and 2031
Figure 12. Cloud: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 13. On Premises: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 14. Europe Artificial Intelligence Market Share (%) - by Organization Size, 2024 and 2031
Figure 15. Large Enterprises: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 16. SMEs: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 17. Europe Artificial Intelligence Market Share (%) - by Industry Vertical, 2024 and 2031
Figure 18. IT and Telecom: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 19. BFSI: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 20. Healthcare: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 21. Manufacturing: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 22. Retail and E-Commerce: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 23. Automotive: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 24. Others: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 25. Europe Artificial Intelligence Market Breakdown by Key Countries, 2024 and 2031 (%)
Figure 26. United Kingdom: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 27. Germany: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 28. France: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 29. Italy: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 30. Russia: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 31. Rest of Europe: Europe Artificial Intelligence Market - Revenue and Forecast, 2021 - 2031 (US$ Billion)
Figure 32. Company Positioning & Concentration
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The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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