Machine Learning - New Zealand

The Machine Learning market in the Artificial Intelligence sector in New Zealand is experiencing extraordinary growth, fueled by factors like the adoption of digital technologies, growing health consciousness among consumers, and the convenience of online health services.

Customer preferences: As the use of artificial intelligence continues to expand in New Zealand, the Machine Learning Market is experiencing a shift towards personalized and customized solutions. This is driven by the growing preference for tailored recommendations and experiences, as well as the increasing availability of data and advanced algorithms. Moreover, there is a rising demand for AI-powered virtual assistants and chatbots, as consumers look for more efficient and seamless interactions with businesses. Additionally, the adoption of machine learning in various industries, such as healthcare and finance, is fueled by the desire for faster and more accurate decision-making processes.

Trends in the market: In New Zealand, the Machine Learning market is experiencing a surge in demand for automation and predictive analytics solutions across various industries, including finance, healthcare, and retail. This trend is driven by the increasing adoption of Artificial Intelligence technologies and the need for businesses to optimize their operations and stay competitive. As a result, industry stakeholders are investing in research and development to enhance the capabilities of Machine Learning algorithms, which is expected to lead to more advanced and accurate solutions in the near future. Additionally, there is a growing interest in ethical and transparent use of AI, with the government and organizations working towards creating regulations and guidelines. This focus on responsible AI is crucial for building trust with consumers and ensuring the responsible use of data.

Local special circumstances: In New Zealand, the Machine Learning Market within the Artificial Intelligence Market is influenced by the country's small but technologically advanced population. The country's strong focus on research and development, as well as its high rate of digital adoption, creates a favorable environment for the growth of this market. Additionally, the government's initiatives to promote innovation and entrepreneurship in the technology sector have further boosted the adoption of Machine Learning solutions in various industries. Furthermore, New Zealand's proximity to Australia and its membership in the Five Eyes intelligence alliance provide opportunities for collaboration and knowledge-sharing with other leading technology markets.

Underlying macroeconomic factors: The growth of the Machine Learning market in New Zealand is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. The country's strong economy and favorable regulatory environment have also played a significant role in driving market growth. Furthermore, the increasing adoption of AI technologies across various industries and the growing demand for advanced data analytics solutions are contributing to the expansion of the Machine Learning market in the country. Additionally, the rising prevalence of chronic diseases and the aging population are creating a need for AI-powered healthcare solutions, further driving the demand for Machine Learning in New Zealand.

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.