Artificial Intelligence - Asia

The Artificial Intelligence market in Asia is experiencing rapid growth, driven by the increasing adoption of digital technologies, rising health awareness among consumers, and the convenience of online health services. The market's elevated growth rate can be attributed to factors such as advancements in AI Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI. These sub-markets are continuously evolving, creating a high demand for AI solutions in the region.

Customer preferences: Consumers in Asia are increasingly embracing AI-powered technologies in their daily lives, from virtual assistants and chatbots to smart home devices and autonomous vehicles. This trend is driven by the region's tech-savvy and connected population, as well as the growing demand for convenience and efficiency. Additionally, as the population ages, there is a rising need for AI-based solutions in healthcare, such as personalized treatment recommendations and medical diagnostics. This shift towards AI adoption is also fueled by the cultural value placed on innovation and forward-thinking.

Trends in the market: In Asia, the Artificial Intelligence market is experiencing a surge in demand for AI-powered solutions in various industries, including finance, healthcare, and retail. With the increasing adoption of AI, there is a growing trend of developing and implementing advanced AI technologies such as machine learning and natural language processing. This trajectory is expected to continue as companies look for ways to improve efficiency, reduce costs, and gain a competitive advantage. This trend has significant implications for industry stakeholders, as it creates opportunities for growth and innovation, but also raises concerns about job displacement and ethical considerations surrounding AI development and deployment.

Local special circumstances: In China, the Artificial Intelligence market is thriving due to the government's heavy investment in the technology and the country's large pool of tech-savvy talent. This has led to the emergence of AI-powered solutions in various industries, such as healthcare, finance, and retail. Additionally, cultural factors such as the Chinese preference for online shopping and convenience have further fueled the growth of AI in e-commerce and customer service sectors in the country. Furthermore, the country's unique regulatory environment, with its emphasis on data privacy and security, has played a significant role in shaping the development and adoption of AI technologies in China.

Underlying macroeconomic factors: The growth of the Artificial Intelligence Market in Asia is heavily impacted by macroeconomic factors, such as technological advancements, government support, and investment in AI infrastructure. Countries with favorable regulatory environments and strong investment in AI technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing adoption of AI across industries, as well as the rising demand for automation and efficiency, are driving the growth of the market in Asia.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.