So, let’s have a look at the brief yet sharp illustration of the current scenario of the AI market throughout the Asia subcontinent.
What is Artificial Intelligence?
Artificial Intelligence is the dominating buzz of the ultra-modern era. It is a form of superior technology that simulates human intelligence in machines in terms of learning, interpreting commands, providing creative feedback, and much more.
What is the current Asian market for artificial intelligence?
As per Statista.com, artificial intelligence in Asian market stands at approximately USD $66.03 bn for the year 2024. Moreover, it is expected to enjoy a mammoth growth of around $298.40 bn by 2030. With an annual growth rate of CAGR of 2024-2030 28.58%, AI is running swiftly to eat up a huge chunk of the tech market.
The speedy proliferation of artificial intelligence within this region is largely dependent on digitization across various fields. As a result, in almost every important aspect of human life from financial translation and banking system to healthcare and smart home appliances, technology is playing a crucial role in redefining people's experiences.
In addition to that the demand for intellectual, smart virtual assistants is increasing day by day. Rightly so, governments are paying heed to investing more in AI initiatives and start-ups while strengthening 5G infrastructure for smooth operations. This movement alone is fueling the market growth of AI in that region.
How big is the Chinese artificial intelligence market?
Considering the lingering tech war, China is doing its best to win the battle in incorporating AI in various fields including healthcare, law, education, and media. In 2024, the country earned approximately 36.1% of revenue from AI-based investment which is projected to grow lavishly in the upcoming days.
Artificial Intelligence in Asian Market is moving toward a robust demand in the upcoming future. As a result, the successful implementation of this wonder will undoubtedly bring magical changes in the region.