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Machine Learning - Thailand

Thailand
  • The market size in the Machine Learning market is projected to reach US$411.30m 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$2.61bn 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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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 in the Artificial Intelligence Market in Thailand is seeing remarkable growth, influenced by factors like rapid adoption of digital technologies, increasing health consciousness, and the convenience of online health services. This extraordinary growth is driven by advancements in technology and the increasing demand for personalized and efficient healthcare solutions.

    Customer preferences:
    With the growing adoption of digital technologies in Thailand, the Machine Learning Market within the Artificial Intelligence Market is witnessing a rise in demand for personalized and automated solutions. This trend is driven by the country's tech-savvy population, who are increasingly seeking more efficient and effective ways to manage their daily tasks and improve their overall quality of life. Additionally, there is a growing awareness of the potential of machine learning in various industries such as healthcare, finance, and retail, leading to a surge in investments and partnerships in the market.

    Trends in the market:
    In Thailand, the Machine Learning market within the Artificial Intelligence Market is experiencing a surge in the adoption of chatbots in various industries such as banking, hospitality, and e-commerce. This trend is driven by the increasing demand for personalized customer service and the need to automate routine tasks. Additionally, there is a growing focus on using machine learning for predictive analytics in areas like fraud detection and supply chain optimization. These developments are significant as they improve efficiency and enhance customer experience. However, industry stakeholders must also consider the potential implications of relying heavily on AI and ensure responsible use to avoid any negative consequences.

    Local special circumstances:
    In Thailand, the Machine Learning Market within the Artificial Intelligence Market is experiencing rapid growth due to the country's high digital adoption rate and government support for technological innovation. The market is also benefitting from the country's strategic location and strong IT infrastructure, making it an ideal hub for AI development and investment. Additionally, Thailand's unique cultural values, such as its emphasis on personalization and customer service, are influencing the adoption and development of AI solutions in various industries.

    Underlying macroeconomic factors:
    The Machine Learning Market within the Artificial Intelligence Market in Thailand is heavily influenced by macroeconomic factors such as government policies promoting technological innovation, investments in research and development, and the country's overall economic health. With a strong focus on digital transformation and industry 4.0 initiatives, Thailand has emerged as a major player in the global AI market. Additionally, the country's strategic location, favorable business environment, and skilled workforce have attracted significant foreign investments, further driving the growth of the Machine Learning Market in Thailand. Moreover, the rising demand for AI-powered solutions in various industries, such as healthcare, retail, and finance, is also contributing to the market's expansion.

    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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