Monday November 12, 2018 0 comments
BOULDER -- The artificial intelligence (AI) market in the Asia Pacific region -- including software, hardware, and services -- will grow from $6 billion in 2017 to $136 billion by 2025, according to a new report from market intelligence firm Tractica.
Traditionally, the Asia Pacific (APAC) region has lagged North America and Europe in terms of technology adoption. However, according to the Tractica report, AI is most likely the one technology area where APAC could be the leading region globally within the next decade.
By the end of that period, China is projected to comprise 70% of the market, followed by Japan, South Korea, India and the rest of APAC.
“Most of the impetus for AI growth in the Asia Pacific region will come from China, as it pushes the accelerator on its plans to become a science and technology powerhouse and recognizes the role of AI in driving its ambitions,” said Tractica research director Aditya Kaul.
“While China is leading most of the headlines, countries like Japan, South Korea, India, Taiwan, and Singapore have also shifted their focus toward AI, all of them announcing national AI strategies.”
Kaul noted that within APAC, AI has a major role to play in transforming healthcare, agriculture, and education where AI will help find better cures for diseases, democratize access to healthcare, improve crop yields, and help personalize education for all.
AI is also likely to boost traditional industries like telecom, retail, advertising, automotive, business services, and the consumer market. The public sector is also expected to be one of the biggest beneficiaries of AI in APAC, helping cities leapfrog their Western counterparts in terms of smart intelligent services and improved standards of living.
Tractica’s report, “Artificial Intelligence in Asia Pacific”, provides a quantitative and qualitative assessment of the AI market opportunity in the Asia Pacific region. The report provides an overview of AI market activity in China, Japan, South Korea, India, and the Rest of Asia Pacific with special coverage of Taiwan and Singapore.
The top industries for AI adoption are identified along with profiles of the key vendors in the AI market ecosystem in the region. Market forecasts are provided for AI software, hardware and services, use cases, and industries for the period from 2017 through 2025.
An Executive Summary of the report is available for free download on the Tractica website.