The overall market of machine learning in Asia-Pacific has been segmented on the basis of verticals, deployment, services and organization size
Machine learning in Asia-Pacific is projected to grow from US$15.50 billion in 2021 to US$152.24 billion in 2028 at a CAGR of 38.6% in the forecast period. The initiatives by the Japanese government to promote artificial intelligence across the country, along with the rise in the adoption of machine learning services are driving Japan’s machine learning market. As stated by the Center for Data Innovation, the Artificial Intelligence Technology Strategy Council was launched in the country in August 2017, for developing a roadmap for the development and commercialization of AI. This strategy helped in outlining priority areas for the integration of AI into government organizations, retail, and medical care.
The region promises potential growth over the estimated period owing to factors like government initiatives promoting artificial intelligence, rising adoption of machine learning, and the emergence of numerous machine learning start-ups in the region.
Further, the growing demand for intelligent business processes is fuelling the growth of the machine learning market in the region. The need to understand customers’ behaviour and provide customer-centric services across industries has compelled organizations to use data analytics, machine learning, and artificial intelligence to build intelligent business processes. Machine learning algorithms enabled enterprises to identify trends and make better decisions quickly. As a result of the benefits of machine learning, companies are incorporating the technology, thereby elevating its market growth.
China’s machine learning market is primarily driven by increasing government initiatives and investment from private companies in the country. On the other hand, the Indian market is prospering due to the entry of start-ups with advanced machine learning platforms and services and the government initiatives to promote the technology. The overall Asia-Pacific machine learning market has been segmented on the basis of verticals, deployment, services, and organization size. At present, large enterprises are leading the organization size segment.
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