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Machine Learning - Taiwan

Taiwan
  • The market size in the Machine Learning market is projected to reach US$631.30m in 2024.
  • The market size is expected to show an annual growth rate (CAGR 2024-2030) of 36.08%, resulting in a market volume of US$4.01bn by 2030.
  • In global comparison, the largest market size will be United States (US$21.14bn in 2024).

Definition:
Machine learning is a branch of artificial intelligence that involves the use of algorithms and statistical models to enable computer systems to learn from data and improve their performance on a task. It has a wide range of applications, including image and speech recognition, natural language processing, and predictive analytics. The Machine Learning market includes software platforms, tools, and services that enable organizations to develop and deploy machine learning applications.

Additional Information:

The Machine Learning market comprises two key performance indicators: market sizes, and market sizes by industry. Market sizes are generated by the funding amount of Artificial Intelligence (AI) companies. Key players of the market include companies such as Amazon Web Services (AWS), Google Cloud Platform (GCP), and Microsoft Azure.

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In-Scope

  • Supervised learning applications that require training data, such as image classification
  • Unsupervised learning applications that do not need training data, such as clustering and anomaly detection
  • Reinforcement learning applications that involve learning through trial and error, such as game playing, robotics, and autonomous driving.

Out-Of-Scope

  • Traditional programming tools, such as rule-based systems and algorithmic programming
  • Statistical analysis tools, such as regression analysis and hypothesis testing
  • Non-technical applications, such as financial analysis and business management.
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Artificial Intelligence: in-depth market analysis

Study Details

    Value

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Mar 2024

    Market Size

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Machine Learning market within the Artificial Intelligence Market in Taiwan nan is witnessing exceptional growth, propelled by factors like growing adoption of digital technologies, increasing health consciousness among consumers, and the convenience of online health services. This remarkable growth rate can be attributed to the constant advancements and innovations in the field of AI and ML, along with the government's initiatives to promote the use of digital health solutions.

    Customer preferences:
    With the rapid advancement of technology, there has been a growing demand for personalized and efficient solutions in the Machine Learning Market within the Artificial Intelligence Market. Consumers are increasingly looking for AI-powered products and services that can cater to their specific needs and preferences. This trend is driven by the desire for convenience, productivity, and personalized experiences, leading to the development of more advanced and sophisticated AI-based tools and applications. Additionally, the increasing adoption of AI in various industries, such as finance, healthcare, and retail, is also fueling the growth of the Machine Learning Market in Taiwan.

    Trends in the market:
    In Taiwan, the Machine Learning Market within the Artificial Intelligence Market is experiencing a surge in demand for AI-powered chatbots, with companies using them for customer service, sales, and marketing purposes. Additionally, there is a growing trend of using AI for predictive maintenance in manufacturing and supply chain management. These trends are significant as they improve efficiency, reduce costs, and enhance customer experience. Industry stakeholders must stay updated on these developments to stay competitive and leverage the benefits of AI in their respective fields.

    Local special circumstances:
    In Taiwan, the Machine Learning Market within the Artificial Intelligence Market is experiencing significant growth due to the country's strong government support and investment in AI technology. Additionally, the high concentration of technology companies and skilled workforce in Taiwan has created a thriving ecosystem for the development and adoption of machine learning solutions. Furthermore, the country's advanced infrastructure and favorable regulatory environment have also contributed to the rapid growth of the market.

    Underlying macroeconomic factors:
    The growth of the Machine Learning Market within the Artificial Intelligence Market in Taiwan is also influenced by macroeconomic factors such as government support, research and development investments, and the country's technological advancements. Taiwan's strong investment in AI research and development, as well as its favorable regulatory environment, have contributed to the rapid growth of the market. Furthermore, the country's strong economic health and stable fiscal policies have created a conducive business environment for AI companies, leading to the overall growth of the market. Additionally, the increasing adoption of AI solutions in various industries, such as healthcare, finance, and manufacturing, is driving the demand for machine learning technologies in Taiwan.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Methodology

    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.

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    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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