Traditionally, the Asia Pacific (APAC) region has lagged North America and Europe in terms of technology adoption. However, according to a new report from Tractica, artificial intelligence (AI) is most likely the one technology area where APAC could be the leading region globally within the next decade. The APAC region holds 60% of the worlds population and, therefore, any major technological shifts like those being heralded by AI are likely to shape the future of the region.
Tracticas analysis indicates that the AI market in the APAC region, including software, hardware, and services, will grow from $6 billion in 2017 to $136 billion by 2025. 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, says 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 adds 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.
WANT TO BUILD A FINANCIAL EMPIRE?
Subscribe to the Global Banking & Finance Review Newsletter for FREE Get Access to Exclusive Reports to Save Time & Money
By using this form you agree with the storage and handling of your data by this website. We Will Not Spam, Rent, or Sell Your Information.
Tracticas 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 firms website.
Tractica, an Informa business, is a market intelligence firm that focuses on emerging technologies. Tracticas global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding Artificial Intelligence, Robotics, User Interface Technologies, Advanced Computing, Connected & Autonomous Vehicles, and Wearables & Digital Health. For more information, visit www.tractica.com or call +1.303.248.3000.
Clint Wheelock, +1.303.248.3000