The Asia Pacific Artificial Intelligence (AI) Toolkit Market would witness market growth of 35.3% CAGR during the forecast period (2023-2030).
The exponential growth of data has been a driving force for AI adoption. With more data available than ever, organizations are eager to leverage AI toolkits to extract meaningful insights and value from their data. Advances in AI algorithms and models have made AI toolkits more capable of solving complex problems, driving their adoption across sectors. The widespread adoption and adaptability of open-source AI toolkits, such as sci-kit-learn, TensorFlow, and PyTorch, have contributed significantly to their popularity. Developers prefer these tools for their transparency and accessibility. As the demand for AI at the edge grows, AI toolkits are optimized for resource-constrained environments. This development permits AI applications to operate on IoT devices and smartphones, which have limited processing capacity and memory.
Pretrained models have become a game-changer, allowing developers to leverage pre-trained AI models for various tasks, saving time and resources. Transformers, BERT, GPT, and similar models have gained prominence for NLP applications. The need for transparency and accountability in AI has led to the development of AI toolkits that prioritize explainability and interpretability. These tools help make AI decisions more understandable and trustworthy. AutoML has simplified the machine learning process, allowing users with limited expertise to build AI models. AI toolkits are integrating AutoML capabilities to make AI development more accessible. With advancements in quantum computing, AI toolkits are exploring ways to harness the immense computational power of quantum processors for faster AI model training and complex problem-solving.
Asia Pacific countries are increasingly adopting AI toolkits for healthcare applications, including medical imaging, predictive diagnosis, and telemedicine services. AI toolkits with NLP capabilities support the diverse linguistic landscape in the Asia Pacific region, enabling the development of AI solutions for multiple languages and dialects. The People’s Republic of China, the amount of e-commerce transactions during the 14th Five-Year Plan is predicted to increase from 37.2 trillion yuan in 2017 to 46 trillion yuan ($7.2 trillion) by 2025. It will be a crucial component of China's modern economic system and promote the efficient allocation of resources. All these factors will uplift the regional market’s expansion in coming years.
The China region dominated the Asia Pacific Artificial Intelligence (AI) Toolkit Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $12,330.8 million by 2030. The Japan region is registering a CAGR of 34.3% during (2023 - 2030). Additionally, The India region would showcase a CAGR of 36.1% during (2023 - 2030).
Based on Component, the market is segmented into Software, Hardware (Processors, Accelerators, Others), and Services. Based on Technology, the market is segmented into Natural Language Processing, Computer Vision, Machine Learning, and Robotic Process Automation. Based on Vertical, the market is segmented into BFSI, IT & Telecom, Government & Defense, Healthcare & Lifesciences, Media & Entertainment, Retail & Ecommerce, Automotive, Transportation & Logistics, Energy & Utilities, Manufacturing, 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 Global Artificial Intelligence (AI) Toolkit Market is Predict to reach $164.4 Billion by 2030, at a CAGR of 34.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, IBM Corporation, Google LLC, Oracle Corporation, NVIDIA Corporation, Thales Group S.A., Intel Corporation, Adobe, Inc., Salesforce, Inc. and DataRobot, Inc.
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