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Exhibiting the market analysis for the period 2022 and 2031 , Kenneth Research has updated its database of market intelligence reports by adding Asia-Pacific Machine Learning Market , which includes detailed study on future prospects that are estimated to transform the global market significantly in the upcoming years. The report also covers growth opportunities and overall demand for the (product), market trends, the giant players in the industry and the strategies used by them to stay ahead of their competitors.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Asia-Pacific Machine Learning Market Products.
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As per the Eurostat, the total value of the ICT sector in Europe, including the ICT manufacturing and ICT services, was estimated to be more than EUR 475 billion in 2017. In this sector, the ICT services account for the major share as it is predicted to be ten times larger than the share held by ICT manufacturing. ICT services consist of computer programming, consultancy and related activities which held about 49.1% share while the telecommunications activities held around 30.3% share in the segment in 2017. These factors are estimated to impact the market growth in a positive manner in the next few years.
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.
With the given market data, Kenneth Research offers customizations according to specific needs. Write to us at .
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The Market report answers the following questions:
What is the aim of the report?
- The Asia-Pacific Machine Learning Market report presents the estimated market size of 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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About Kenneth Research:
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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Eli is a freelance writer and possess double graduation degree in physics and chemistry. She is an intense writer covering everything for Science and Tech to Business, Entertainment, Sports and Lifestyle.
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