The Asia Pacific Machine Learning Market would witness market growth of 37.6% CAGR during the forecast period (2023-2030).
Artificial intelligence (AI) is a new technology revolutionizing how individuals and organization’s function. These technologies have completely changed how consumers interact with products and services by creating various digital services and goods and optimizing the supply chain. While some startups focus on solutions for specific industries, several technology companies invest in this space to build AI platforms. Due to its rapid development, Machine Learning (ML), one of the AI methodologies, is gaining significant industrial traction.
The goal of automation in machine learning is to reduce the amount of human effort required to build and deploy models. Automated machine learning (AutoML) platforms are becoming more widespread, enabling non-experts to benefit from machine learning capabilities and accelerate model creation. Also becoming better is deep learning, machine learning that uses multiple-layer neural networks. The availability of large datasets, this trend, and the development of more efficient algorithms are all influenced by improvements in processing power. Deep learning advances computer vision, natural language processing, and voice recognition.
Due to rising FinTech usage and investment in information technology (IT), Asia-Pacific (APAC) is expected to see tremendous growth. Regional markets are also being developed as a result of rising government interest in integrating AI across many sectors. China is seeing a rise in the use of machine learning, which is being used by businesses to improve industrial processes, identify financial fraud, and propose items to customers. When clean data and strong data architecture do not support machine learning algorithms, they often provide incorrect predictions and cause machine learning initiatives to fail.
The China market dominated the Asia Pacific Machine Learning Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $32.6 billion by 2030. The Japan market is estimated to grow at a CAGR of 36.8% during (2023 - 2030). Additionally, The India market would register a CAGR of 38.4% during (2023 - 2030).
Based on Enterprise Size, the market is segmented into Large Enterprises, and SMEs. Based on Component, the market is segmented into Services, Software, and Hardware. Based on End-use, the market is segmented into Advertising & Media, BFSI, Automotive & Transportation, Manufacturing, Agriculture, Retail, Healthcare, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Machine Learning Market is Projected to reach USD 408.4 Billion by 2030, at a CAGR of 36.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc. (Amazon.com, Inc.), Baidu, Inc., Google LLC (Alphabet Inc.), H2O.ai, Inc., Hewlett-Packard enterprise Company (HP Development Company L.P.), Intel Corporation, IBM Corporation, Microsoft Corporation, SAS Institute, Inc., SAP SE
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