European AI in manufacturing market is estimated to grow significantly at a CAGR of 32.6% during the forecast period. Europe has a huge potential for the growth of AI in manufacturing owing to the significant investment made in the industry. The presence of major market players, well-developed automotive, industrial equipment, and pharmaceutical industries, fast adoption of new technology, and significant adoption of industrial robots are some of the major factors that contribute to the growth of the market in the region. Germany is expected to be the fastest-growing market in the region.

One of the major motivating factors that push the European region upward is the presence of supportive government initiatives. Europe is a fully developed region in terms of technological advancement. In April 2018, the European Commission planned to invest $10.5 billion to develop the first-ever Digital Europe program. Digital Europe program will significantly raise the competitive position of the European Union in the international market. Within the program, Europe commission will invest to develop and reinforce the capabilities such as high-performance, computing, AI, cybersecurity, and advanced digital skills. 

The market is segmented on the basis of application and end-user. Based on application, the market is segmented into quality control & reclamation, predictive maintenance, supply network optimization, and others including production planning. Predictive maintenance had the highest share of over 35% in the market owing to the increasing demand for accuracy and reliability during the manufacturing process. Based on end-user, the market is segmented into automobile, pharmaceutical, heavy metal & machine manufacturing and others. The automobile segment held the highest market share in 2018.

The pharmaceutical segment is expected to have significant growth in Europe. Various pharmaceutical companies including Novartis International AG, AstraZeneca PLC, Evotec AG, and Janssen Pharmaceutical NV are using AI during drug discovery. These companies are partnering with IT companies to integrate advanced technology with healthcare. Benefits such as data privacy are attracting health facilities to adopt AI in the healthcare industry.

Research Methodology

The market study of the European AI in manufacturing market is incorporated by extensive primary and secondary research conducted by the research team.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report is intended for IT companies, software vendors, automotive industry, healthcare companies, research institutes, government organizations, and other market participants for the overall market and competitive analysis. The report provides an in-depth analysis on market size, and future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for making better business decisions.

Market Segmentation

1. European AI in Manufacturing Market Research and Analysis by Application

2. European AI in Manufacturing Market Research and Analysis by End-User 

The Report Covers

• Comprehensive research methodology of the European AI in Manufacturing market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the European AI in Manufacturing market.
• Insights about market determinants which are stimulating the European AI in Manufacturing market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.