Europe AI spending set to reach nearly $470 billion in 2030

European spending on AI is forecast to reach nearly $470 billion in 2030, expanding at a 35 percent CAGR between 2025 and 2030, according to IDC. Generative AI is expected to account for 55.4 percent of regional AI spending by 2030 as enterprises move beyond experimental copilots toward systems embedded in banking, healthcare, manufacturing, software development and customer service.

Software is the largest technology segment, representing 54.9 percent of European AI spending in 2026, while AI Platforms are forecast to grow at a 61.1 percent CAGR. The shift toward agentic AI is raising demand for foundation model support, orchestration, enterprise data integration, cloud infrastructure, storage, networking, cybersecurity and governance.

Banking leads industry spending with 12.6 percent of the market in 2026, and financial services overall account for 19.2 percent. BBVA expanded ChatGPT Enterprise from around 3,300 accounts in 2024 to around 100,000 employees by June 2026, reporting approximately three hours saved per week. Healthcare providers are expected to post the fastest growth at a 41 percent CAGR, while NHS Midlands is scaling ambient voice technology across 1,239 GP practices and more than 70,000 clinicians.