Key Companies Covered in the Asia-Pacific Machine Learning Market Research are Google Inc., SAS Institute Inc., FICO, Hewlett Packard Enterprise, Yottamine Analytics, Amazon Web Services, BigML, and other key market players.
The global Asia-Pacific Machine Learning Market size is projected to reach USD 21.9 billion by 2031 from USD 13.5 billion in 2022, at a CAGR of 8.5% during the forecast period.
A report on Asia-Pacific Machine Learning Market was recently added by Kenneth Research into its database, which is aimed at providing the clients with the business growth and investment opportunities present in the market all around the world. The report covers various parameters on the basis of which the market is evaluated, including the market size, market volume and the growth rate observed by the market over the forecast period, i.e., 2022-2031.
Rise in adoption of analytics in the telecom industry is to improve its core operations and internal processes to establish trends and to enable future forecasts. The IT and telecom industry has a wide array of growth opportunities, owing to data generated from phone calls, phone applications, social media, and data network
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In Q4 2021, U.S. current-account deficit widened stood at $224.8 billion. However, in Q1 22, CAD rose by 29.6%, reached to $291.4 billion, adding $66.6 billion to the gap. Export of good and services increased by $25.7 billion to reach $1.03 trillion in the first quarter of 2022. However, country’s goods and services deficit was $79.6 billion in June, down $5.3 billion from $84.9 billion in May, revised- reflecting some sight of relief. On the other hand, annual inflation rate in the country hit 8.5%. Energy CPI surged by 32.9% in July 2022, inflating the cost of logistic and signs to disrupt supply chain whilst electricity cost upsurged by 15.2%, highest since Feb 2006. Apart from that, In July 2022, existing US home sales declined 5.9% to 4.81 million (seasonally adjusted annual rate), the lowest since May of 2020 and below market expectations of 4.89 million. As mortgage rate touches highest at 6%, sales for houses declined for a sixth consecutive month. Global energy crises to remain at focal point impacting the economic activity in the U.S, pushing consumers to spend less on the products and services and save more.
On the other hand, the worst is expected to be seen in the European countries, especially during 2022 winters. The energy and gas crises has already started grappling the region, wherein many Western European countries including Germany is looking for coal fired solutions to tackle the gas supply shortage created by Russian-Ukraine conflict.
Amidst global concerns, market players have started looking for safe investments by holding on to the new technology and product launches. Factors like currency translation, disruption in global supply chain, Anti-China sentiments brewing across the globe, slowdown in Chinese economy, inflated products prices, USD getting stronger every week, decreasing purchasing power and strict measures taken by central banks/institutions across the world to ensure less spending and more saving, could hit the demand for the product and service badly in near future.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Asia-Pacific Machine Learning market
The value of the machine learning market in Asia-Pacific is expected to reach USD 10.00 Bn by 2023, expanding at a compound annual growth rate (CAGR) of 51.3% during 2018-2023.
Machine learning the ability of computers to learn through experiences to improve their performance. Separate algorithms and human intervention are not required to train the computer. It merely learns from its past experiences and examples. In recent times, this market has gained utmost importance due to the increased availability of data and the need to process the data to obtain meaningful insights.
Asia-Pacific will experience the highest CAGR in the machine learning market.
The market can be classified into four primary segments based on components, service, organization size and application.
Based on region, the market is segmented into China, India, Japan, South Korea, Australia and New Zealand (ANZ), the rest of Asia-Pacific.
Based on components the market can be segmented into software tools, cloud and web-based application programming interfaces (APIs) and others.
Based on service, the sub-segments are composed of professional services and managed services.
Based on organization size, the sub-segments include small and medium enterprises (SMEs) and large enterprises.
Based on application, the market is divided into the sub-segments, banking, financial services and insurance (BFSI), automotive, healthcare, government and others.
Machine learning is no longer a novelty in Asia-Pacific countries. Business sectors having realised its potential are using machine learning technologies to draw maximum insights from the available data to increase the efficiency of operations.
Key growth factors
The enormous population base together with a diverse industry mix, which has the potential to generate a huge amount of data, is significantly driving the machine learning market in the Asia-Pacific countries.
The availability of a robust data set, the adoption of machine learning techniques in traditional industries and strengthening of the pipeline of cohorts with exceptional talent is driving the machine learning market in the Asia-Pacific region.
Threats and key players
Ethical issues and biased data leading to biased decisions are a matter of concern which restricts further development of the machine learning market.
The connectivity standards available in the Asia-pacific region still falls below the world’s average. The digital divide is widening the gap among the sub-regions in the Asia-Pacific zone at an alarming rate. This again is causing a hindrance to the development in the machine learning market in this region.
The key players are Microsoft, Google Inc., IBM Watson, Amazon, Baidu, Intel, Facebook, Apple Inc., and Uber.
What is covered in the report?
1. Overview of the machine learning market in Asia-Pacific region.
2. Market drivers and challenges in the machine learning market in Asia-Pacific region.
3. Market trends in the machine learning market in Asia-Pacific region.
4. Historical, current and forecasted market size data for the machine learning market in Asia-Pacific region.
5. Historical, current and forecasted market size data for the components segment (software tools, cloud and web-based APIs and others).
6. Historical, current and forecasted market size data for the service segment (professional services and managed services).
7. Historical, current and forecasted market size data for the organisation size segment (SMEs and large enterprises).
8. Historical, current and forecasted market size data for the application segment (BFSI, automotive, healthcare, government and others).
9. Historical, current and forecasted regional (China, India, Japan, South Korea, Australia and New Zealand (ANZ), the rest of Asia-Pacific) market size data for machine learning market.
10. Analysis of the machine learning market in Asia-Pacific by value chain.
11. Analysis of the competitive landscape and profiles of major competitors operating in the market.
1. Understand the demand for machine learning to determine the viability of the market.
2. Determine the developed and emerging markets for machine learning.
3. Identify the challenge areas and address them.
4. Develop strategies based on the drivers, trends and highlights for each of the segments.
5. Evaluate the value chain to determine the workflow.
6. Recognize the key competitors of this market and respond accordingly.
7. Knowledge of the initiatives and growth strategies taken by the major companies and decide on the direction of further growth.
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The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Asia-Pacific Machine Learning Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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