The Asia Pacific Enterprise Artificial Intelligence Market would witness market growth of 31.5% CAGR during the forecast period (2022-2028).
Enterprise artificial intelligence service providers have a sizable window of opportunity due to the rising demand for artificial intelligence technologies in developing nations. As per a study released in June 2020 by MIT Technology in collaboration with the American software company Genesys, the Latin American region is experiencing growth opportunities due to AI's assistance in addressing a number of pressing issues like unemployment, smart cities, food security, and natural resources. The study also revealed that over 80% of regional large organizations are engaged in ongoing projects that would improve operational effectiveness and management decision-making for local companies.
Machine learning refers to a statistical model's capacity to grow and perform better over time without explicitly following programmed instructions. Machine learning and deep learning, its more advanced offspring, are the foundation of the majority of cognitive technologies. Natural language processing and computer vision are included in this (NLP). The skill of categorizing content in images such as faces, objects, scenes, and activities is known as computer vision. Computer vision would be the capacity to retrieve intended meaning out of visual elements, as to if characters (in the case of document digitization) or even the categorization of content in images. Consumers regularly use the facial recognition technology known as computer vision.
The usage of AI is growing, and data management platforms are being installed. These developments address problems with privacy and security, teamwork, and the setting of moral standards for businesses. The main growth drivers are the development of AI technology, rising government investment spending, and the adoption of cutting-edge technologies across many industries. For example, the Asia Pacific Artificial Intelligence Association (AAIA), based in Hong Kong, was founded in 2021 by 663 academicians from across the world.
The China market dominated the Asia Pacific Enterprise Artificial Intelligence Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $5,469.9 million by 2028. The Japan market is estimated to grow a CAGR of 30.7% during (2022 - 2028). Additionally, The India market would experience a CAGR of 32.3% during (2022 - 2028).
Based on Vertical, the market is segmented into IT & Telecom, BFSI, Automotive & Transportation, Retail, Media & Advertising, Healthcare & Life Sciences, and Others. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on Technology, the market is segmented into Natural Language Processing (NLP), Machine Learning, Computer Vision, Speech Recognition, 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 Enterprise Artificial Intelligence Market is Projected to reach USD 67.2 Billion by 2028, at a CAGR of 30.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Google LLC, Amazon Web Services, Inc., IBM Corporation, Apple, Inc., SAP SE, Wipro Limited., MicroStrategy, Inc., NVIDIA Corporation, Verint Systems, Inc., and IPsoft, Inc.
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