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According to a new report, Asia Pacific Artificial Intelligence Market, published by KBV Research, the Asia Pacific artificial intelligence market is expected to grow at a CAGR of 46.3% from 2018 to 2024. The China market dominated the Asia Pacific Artificial Intelligence Market in 2017, and would continue to be a dominant market till 2024; thereby, growing at a CAGR of 41.6% during the forecast period. The Japan market is expected to reach a market size of $2,202.0 million by 2024. However, India market is expected to grow at CAGR of 47% during 2018-2024.
The Government & Defense segment contributed the larger share to the Asia Pacific Artificial Intelligence Market in 2017, and would continue to be a dominant market till 2024 and is expected to grow at a CAGR of 44.5% during the forecast period. The BFSI segment is expected to reach a market size of $1280.2 million by 2024. The Consumer Goods & Retail segment is expected to grow at CAGR of 49.3% during 2018-2024.
The report highlights the adoption of Artificial Intelligence market in Asia Pacific region. Based on the Technology, the Artificial Intelligence Market is segmented into Machine learning, Natural language processing, Image processing and Speech recognition market. On the basis of Application, the market is bifurcated into Government & Defense, BFSI, Consumer Goods & Retail, IT & Telecom, Healthcare, Energy & Utilities, Manufacturing, Education, Transportation and Others segment. The market is further geographically segmented into China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia Pacific market.
Key Players profiled in the report include IPSoft, Rocket Fuel Inc., Qlik Technologies Inc., Microstrategy Inc., Brighterion Inc., Microsoft Corporation, Google Inc., IBM Corporation, 24/7 Customer Inc., Next IT Corporation.
The market is segmented based on Technology, Application and Country.