Western Europe Artificial Intelligence Software Platforms Forecast, 2020-2024: Market Resilience Despite COVID-19 Western Eur

Western Europe Artificial Intelligence Software Platforms Forecast, 2020-2024: Market Resilience Despite COVID-19 Western Eur

  • January 2021 •
  • 14 pages •
  • Report ID: 6003994 •
  • Format: PDF
This IDC Market Forecast presents a view of AI software platforms revenue from historical year 2019 and 2020-2024. IDC sees AI software platforms being used in a wide variety of industries and application types. "The AI software platforms market continued impressive growth in 2019. After 2019, even with the effects of the pandemic, we expect this market to continue to grow over the forecast period with a lower growth rate in 2020 before returning to its previous trajectory of accelerating growth in 2021-2024. IDC forecasts the Western European market to approach $3.3 billion in revenue in 2024 with a CAGR of 50.1% over the period," said Jack Vernon, senior research analyst, IDC's European Artificial Intelligence Strategies service. "As organizations in Europe take steps to deploy AI throughout their businesses, they're increasingly finding that open source technologies simply aren't suitable for deploying and managing AI at scale. At the same time, they can't achieve the required customization from off-the-shelf and embedded AI applications, causing many to seek offerings in the AI software platforms market."