The Europe Artificial Intelligence (AI) Toolkit Market would witness market growth of 33.8% CAGR during the forecast period (2023-2030).
The demand for AI models and applications has increased. It is critical to use the correct model architecture, collect the appropriate data, and tune the model according to the intended key performance indicators (KPIs) to develop an accurate AI tool. Automated machine learning (AutoML) aids in identifying the optimum models and hyperparameters for the intended KPI. It can automatically select the optimum AI model for a certain purpose and hide many difficult stages in generating and optimizing AI models. Numerous AI toolkits, including NVIDIA TAO, have an AutoML feature that optimizes a model's hyperparameters automatically, eliminating the need for manual tuning. This adds to the growing use of AutoML for high-quality model deployment and training.
Training and deploying sophisticated AI models are now considerably more efficient due to the increased availability of high-performance hardware components, including GPUs and TPUs. AI toolkits are purposely engineered to maximize computing capacity, allowing for faster model creation and greater performance. This integration of AI toolkits with powerful hardware resources is a key driver driving the growth of the market, as it enables developers and organizations to harness cutting-edge AI capabilities for a wide range of applications.
In Germany, AI chatbots and virtual assistants provide real-time customer support, answering user inquiries, assisting with order tracking, and addressing common issues. Germany boasts a high level of internet penetration, enabling a significant portion of the population to access online shopping platforms. The UK has been actively promoting the development and adoption of electric vehicles with incentives, charging infrastructure, and investments in EV manufacturing. AI toolkits are used to analyze vehicle data and predict maintenance needs, helping improve vehicle reliability, minimize downtime, and enhance the ownership experience for UK consumers. Due to the above-mentioned factors, the market will grow significantly in this region.
The Germany region dominated the Europe Artificial Intelligence (AI) Toolkit Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $10,184.4 million by 2030. The UK region is exhibiting a CAGR of 32.6% during (2023 - 2030). Additionally, The France region would experience a CAGR of 34.8% during (2023 - 2030).
Based on Component, the market is segmented into Software, Hardware (Processors, Accelerators, Others), and Services. Based on Technology, the market is segmented into Natural Language Processing, Computer Vision, Machine Learning, and Robotic Process Automation. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Government & Defense, Healthcare & Lifesciences, Media & Entertainment, Retail & Ecommerce, Automotive, Transportation & Logistics, Energy & Utilities, Manufacturing, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Artificial Intelligence (AI) Toolkit Market will Hit $164.4 Billion by 2030, at a CAGR of 34.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Google LLC, Oracle Corporation, NVIDIA Corporation, Thales Group S.A., Intel Corporation, Adobe, Inc., Salesforce, Inc. and DataRobot, Inc.
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