TECH SUPPLIER Sep 2022 - Market Forecast - Doc # EUR149639122
European AI Life-Cycle Software Forecast, 2022–2026
This IDC Market Forecast study presents a European view of AI life-cycle software revenue from historical year 2021 to the forecast years 2022–2026. The expected slowdown of the AI life-cycle software market due to the impact of the COVID-19 pandemic did not materialize in 2021, thus forecast for this market has been revised to reflect increased growth in 2022 and beyond.
"European AI life-cycle software markets will grow at a CAGR of 41.0% over the next five years, with growth particularly strong in cloud-based deployments of the technology," said Jack Vernon senior research analyst, IDC's European AI Strategies. "Despite challenges related to the pandemic in 2021 and a changing environment in 2022 due to the Russia-Ukraine War, growth in the market for AI life-cycle technology has remained strong. Companies continue to make long-term strategic bets on AI and data science, further accelerating the opportunity for vendors."
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