Europe Ai In Food & Beverages Market Size & Outlook
The ai in food & beverages market in Europe is expected to reach a projected revenue of US$ 19,129.2 million by 2030. A compound annual growth rate of 40.6% is expected of Europe ai in food & beverages market from 2024 to 2030.
Revenue, 2023 (US$M)
$1,762.3
Forecast, 2030 (US$M)
$19,129.2
CAGR, 2024 - 2030
40.6%
Report Coverage
Europe
Europe ai in food & beverages market highlights
- The Europe ai in food & beverages market generated a revenue of USD 1,762.3 million in 2023.
- The market is expected to grow at a CAGR of 40.6% from 2024 to 2030.
- In terms of segment, machine learning was the largest revenue generating technology in 2023.
- Machine Learning is the most lucrative technology segment registering the fastest growth during the forecast period.
Europe data book summary
| Market revenue in 2023 | USD 1,762.3 million |
| Market revenue in 2030 | USD 19,129.2 million |
| Growth rate | 40.6% (CAGR from 2024 to 2030) |
| Largest segment | Machine learning |
| Fastest growing segment | Machine Learning |
| Historical data covered | 2017 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Machine Learning |
| Key market players worldwide | ABB Ltd, Honeywell International Inc, International Business Machines Corp, Key Technology, NVIDIA Corp, Rockwell Automation Inc, Sesotec, Sight Machine, Siemens AG, Tomra Systems ASA |
Other key industry trends
- In terms of revenue, Europe region accounted for 20.8% of the global ai in food & beverages market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 29,940.9 million by 2030.
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AI In Food & Beverages Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| Sesotec | View profile | 501-1000 | Schönberg, Bayern, Germany, Europe | https://www.sesotec.com/ |
| Key Technology | View profile | 501-1000 | Walla Walla, Washington, United States, North America | http://www.key.net/ |
| Sight Machine | View profile | 51-100 | San Francisco, California, United States, North America | http://sightmachine.com |
| Tomra Systems ASA | View profile | 5400 | Drengsrudhagen 2, Asker, Norway, 1385 | https://www.tomra.com |
| Honeywell International Inc | View profile | 95000 | 855 South Mint Street, Charlotte, NC, United States, 28202 | https://www.honeywell.com |
| Rockwell Automation Inc | View profile | 29000 | 1201 South Second Street, Milwaukee, WI, United States, 53204 | https://www.rockwellautomation.com |
| Siemens AG | View profile | 321000 | Werner-von-Siemens-Strabe 1, Munich, BY, Germany, 80333 | https://www.siemens.com |
| ABB Ltd | View profile | 108700 | Affolternstrasse 44, Zurich, Switzerland, 8050 | https://www.abb.com |
| NVIDIA Corp | View profile | 29600 | 2788 San Tomas Expressway, Santa Clara, CA, United States, 95051 | https://www.nvidia.com |
| International Business Machines Corp | View profile | 282200 | One New Orchard Road, Armonk, NY, United States, 10504 | http://www.ibm.com |
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