Europe Artificial Intelligence and Analytics in Defence Market Size

Europe Artificial Intelligence and Analytics in Defense Market Analysis

The Europe Artificial Intelligence Analytics in Defense Market is anticipated to witness a CAGR of 8% during the forecast period.

The COVID-19 pandemic has had short-term negative implications on artificial intelligence analytics in the European defense market. The COVID-19 pandemic led to various manufacturers losing most of their access to finance for various artificial intelligence and blockchain technologies. On the other hand, it is expected that there the European region will gain a positive push since such technologies bear the capabilities to increase digitalization and reinvent the major sectors which were hard hit by the pandemic.

Artificial Intelligence Analytics will gain huge importance within the European region in the coming years due to the current increase in investments that the European government is undertaking toward artificial intelligence technologies. Various advances over the past few decades in mass data processing, algorithms, and graphic processing units have had a positive impact, resulting in the discovery of various artificial intelligence techniques. Such advances have been magnified by sharing of various open-source algorithms as well as research challenges, which have led to significant growth in terms of recognition of objects as well as autonomous navigation.

In the current scenario, Europe is in the midst of finalizing a new European Union Artificial Intelligence Act, which is a first-of-its-kind act for the European Union that will mostly be concentrated on horizontal artificial intelligence regulation. The EU act will be the global standard for AI policies and help in developing/creating a wide variety of implications that will be aimed at developing global AI regulations and building cooperation on AI at an international level. One of the primary advantages which Europe has is being a part of the NATO alliance, which means that Europe does not have to start from scratch when it comes to the development of artificial intelligence technologies. Various European states who are already a part of the NATO alliance will receive benefits in terms of artificial intelligence analytics development and collaborations. Moreover, major fundings are also available through the European Defense Fund for research and capability development activities in the defense sector.