Market Research Report
China Artificial Intelligence (AI) Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||922246|
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|China Artificial Intelligence (AI) Market 2019-2025|
|Published: January 13, 2020||Content info:||
China 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
China Artificial Intelligence market is estimated to grow significantly at a CAGR of 37.0% during the forecast period. There are a lot of opportunities available in AI technology in China with the increasing adoption of technologies. According to Asia Business Council, in 2017, China's State Council announced that over next decade, China would expand its prevailing business and focus to become a prominent player by 2030 in the domains such as virtual reality, self-driving cars, smart robots (that can learn from their surroundings and build on their capabilities based on inbuild knowledge) and military applications.
The market is segmented on the basis of offering and end-user industry. Based on offering, the market is divided into software & services and hardware. The market for software and services was the highest market during the forecast period. Based on the end-user industry, the market is segmented into manufacturing, automotive, IT and BFSI, healthcare, e-commerce & logistics, home appliances, and others.
China is broadening its AI leadership by applying AI in almost every industry. Start-ups and major technology companies such as Baidu, Tencent, and Didi Chuxing are providing solutions and services that are AI-based. Chinese firm Alibaba has the first-mover advantage in the AI cloud. Its AI cloud named 'Apsara'is named as the largest cloud provider across the globe as it controls nearly 40% of the Chinese market. The company is utilizing AI applications in commercial use as well, such as "personalized search" and "intelligent customer service". Its chatbot named Ali Xiaomi utilizes neural networking and AI voice recognition to solve customer problems.
Moreover, the use of robots such as iPal is increasing in some schools to assist the teacher in the classroom. These robots are mostly supportive in rural areas of China that lack access to education and resources. The boom in AI technology has given rise to smaller AI-focused companies in China such as iFlytech (voice), Cambricon (AI chips), SenseTime and MegeView (computer vision), UBTECH (robotics) and others.
The market study of the China AI market is incorporated by extensive primary and secondary research conducted by the research team at OMR. 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. In the report, the analysis of the country 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.