Europe Generative AI Market Trends: Transforming Industries with Intelligent Solutions
The Europe generative AI market size was estimated at USD 2.42 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 35.8% from 2024 to 2030. Generative AI is a subset of artificial intelligence that focuses on creating new content, such as images, music, or text and has been experiencing significant growth in Europe owing to the increasing availability of large datasets. Europe has seen a proliferation of data across various domains, including finance, healthcare, and entertainment. This abundance of data provides significant resources for training generative AI models, enabling them to produce more accurate and diverse outputs. Moreover, advancements in deep learning techniques have played a pivotal role in driving the growth of generative AI in Europe. Deep learning algorithms, particularly those based on neural networks such as Variational Autoencoders (VAEs) and Generative Adversarial Networks (GANs), have shown notabl...