Market Research Report
Asia-Pacific Artificial Intelligence (AI) Market 2019-2025
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|Asia-Pacific Artificial Intelligence (AI) Market 2019-2025|
|Published: January 13, 2020||Content info:||
Asia-Pacific Artificial Intelligence (AI) Market Size, Share & Trends Analysis Report by Offering (Hardware and Software & Services), By End-User Industry (Manufacturing, Automotive, IT and BFSI, Healthcare, E-Commerce & Logistics, Home Appliances, and Others), and Forecast 2019-2025
Asia-Pacific Artificial Intelligence market is estimated to grow significantly at a CAGR of 36.6% during the forecast period. The major countries which will contribute in the market include China, India and Japan. China is the biggest market for AI market. The artificial intelligence in Asia-Pacific region is largely driven by the investment from the private technology company towards artificial intelligence development owing to the availability of economical workforces coupled with large volume and broad range of data generated by the users of mobile internet and various applications.
The large amount of data produced enables artificial intelligence systems to generate more sophisticated insights, thus, offering companies to reduce costs, scale operations, improve productivity and enhances more targeted products and services to consumers. India is expected to be the fastest growing country in the region. It is due significant opportunities in the country in IoT, automobile and digitalization. China is expected to have largest market share in the region owing to considerable technological advancement, high penetration of IoT devices and presence of major AI companies including Alibaba, Tencent and Baidu.
The market is segmented on the basis of offering, end-user industry, and country. Based on offering, the market is divided into software & services and hardware. Based on the end-user industry, the market is segmented into manufacturing, automotive, IT and BFSI, healthcare, e-commerce & logistics, home appliances, and others. On the basis of country, the market covers the analysis of China, Japan, India, and Rest of Asia-Pacific. India is expected to grow at the highest CAGR during the forecast period.
Some of the companies which are contributing to the growth of the Asia-Pacific AI market include AIBrain Inc., Alibaba, Baidu Inc., ViSenze Pte. Ltd., Google LLC, IBM Corp., Microsoft Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including new product launch, merger, and acquisition, collaborations with government, funding to the start-ups and technological advancements to stay competitive in the market.
The market study of the Asia-Pacific Artificial Intelligence (AI) 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.
The report is intended for IT companies, automobile companies, BFSI companies, private companies, healthcare companies, research institutes, hospitals, and government organizations for the overall market and competitive analysis. The report provides an in-depth analysis on market size, future market opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.