European Artificial Intelligence Market Forecast, 2024-2028
This IDC Market Forecast document analyzes the outlook of the European AI market for the 2023–2028 period."AI is becoming a transformative force in Europe, but realization of its full potential remains challenging. While our forecast shows explosive growth, particularly in GenAI, many organizations still struggle with data readiness issues, skills gaps, and ROI clarity. Success in this market will depend on balancing innovation with ethical and compliance concerns. Providers should also offer businesses the support they need to navigate this complex AI ecosystem." Ewa Zborowska, Research Director, European AI Strategies and Innovations.
IDC Market Forecast Figure
Executive Summary
Advice for Technology Suppliers
Market Forecast
Spending Forecast by AI Type
AI Spending Forecast by Technology Category
AI Spending Forecast by Region
Market Context
Drivers and Inhibitors
Drivers
Business Optimization and Efficiency Needs
Pressure to Innovate and Stay Competitive
Inhibitors
AI Skills Gap and Brain Drain
Data Readiness and Infrastructure Limitations
Lack of Clarity on AI Use Cases and ROI
Significant Market Developments
Hyperscalers' Investments
European AI Regulations
Focus on AI Ethics and Trust
Emergence of Local AI Players
Sustainability Concerns
AI Chips Race
Changes from Prior Forecast
Market Definition
Methodology
Related Research
Research Assistance
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