China AI Market: Opportunities and Forecast Assessment, 2020–2027
Growth opportunities in the China AI market look promising over the next six years. This is mainly due to the accelerating adoption of advanced technologies across numerous sectors along with the increasing number of government initiatives that are focused on different technological advancements in industries such as retail, manufacturing, defense, oil & gas, healthcare, among others.
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China AI Industry Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
One of the major factors that is contributing to the growth of the China AI market size includes the rising adoption of advanced technologies by numerous sectors. Artificial intelligence is increasingly introduced in numerous industries to improve their research & development activities and induce automation in their processes. AI facilitates better decision-making and problem solving by its reasoning abilities. This is one of the biggest reasons for the rising implementation of AI in the different programs among various industries. In addition to this, the government initiatives are emphasized on technological advancements in industries which include oil & gas, defense, retail, healthcare, and manufacturing. The ‘New Generation Artificial Intelligence Development Plan’, aims to increase the prevailing businesses and become a prominent player in the technologies such as self-driving cars, virtual reality, smart robots, and military applications (that are based on inbuild knowledge to have the capabilities to learn from surroundings) by the end of 2030. All these factors are propelling the growth of the artificial intelligence industry in China.
The country is looking forward to the introduction of artificial intelligence in military operations. There have been an increase in the number of conferences related to Artificial Intelligence (AI) attended by officials of China’s Ministry of Foreign Affairs, corporates executives of AI companies of China, government think tank experts, and leaders of China’s military AI research organizations. The main objective is to become the world’s primary AI innovation center by abolishing Xi’s term limits. This will allow the top players such as Baidu, Alibaba, and Tencent, also known as BAT, to become superior and well organized.
Offering Segment Drivers
On the basis of the offering, the software is projected to grow at a higher CAGR during the forecast period. AI software is increasingly opted by various enterprises due to the high computing power, enhanced information capacity, and parallel processing capacity to bring advancement in their technologies. AI offers a meaningful value to the given data.
China AI Market Segmentation:
Segmentation by Offering:
- Hardware
o Processors
o Memory
o Network
- Software
o AI Platforms
o AI Solutions
- Services
o Deployment & Integration
o Support & Maintenance
Segmentation by Technology:
- Machine Learning
o Deep Learning
o Supervised Learning
o Unsupervised Learning
o Reinforcement Learning
o Generative Adversarial Networks (GANS)
o Others
- Natural Language Processing (NLP)
- Context-Aware Computing
- Computer Vision
Segmentation by Type:
- Narrow/Week AI
- General/Strong AI
Segmentation by End-User:
- Healthcare
o Patient Data & Risk Analysis
o Lifestyle Management & Monitoring
o Precision Medicine
o Inpatient Care & Hospital Management
o Medical Imaging & Diagnostics
o Drug Discovery
o Virtual Assistant
o Wearables
o Research
- Manufacturing
o Material Movement
o Predictive Maintenance and Machinery Inspection
o Production Planning
o Field Services
o Reclamation
o Quality Control
- Automotive
o Autonomous Driving
o Hmi
o Semiautonomous Driving
- Agriculture
o Precision Farming
o Livestock Monitoring
o Drone Analytics
o Agricultural Robots
o Others
- Retail
o Product Recommendation and Planning
o Customer Relationship Management
o Visual Search
o Virtual Assistant
o Price Optimization
o Payment Services Management
o Supply Chain Management and Demand Planning
o Others
- Security
o Identity and Access Management
o Risk and Compliance Management
o Encryption
o Data Loss Prevention
o Unified Threat Management
o Antivirus/Antimalware
o Intrusion Detection/Prevention Systems
o Others
- Human Resources
o Virtual Assistant
o Applicant Tracking & Assessment
o Personalized Learning and Development
o HR Analytics
o Job Recommendation
o Sentiment Analysis
- Marketing
o Social Media Advertising
o Search Advertising
o Dynamic Pricing
o Virtual Assistant
o Content Curation
o Sales & Marketing Automation
o Analytics Platform
o Others
- Law
o Ediscovery
o Legal Research
o Contract Analysis
o Case Prediction
o Compliance
o Others
- Fintech
o Virtual Assistant
o Business Analytics & Reporting
o Customer Behaviour Analytics
o Others
- Construction
o Project Management
o Field Management
o Risk Management
o Schedule Management
- Defense
o Warfare Platform
o Cyber Security
o Target Recognition
o Battlefield Healthcare
o Simulation & Training
o Planning & Allocation
o Threat Monitoring & Situational Awareness
o Information Processing
o Others
- Aerospace
o Smart Maintenance
o Flight Operations
o Training
o Surveillance
o Virtual Assistants
o Dynamic Pricing
o Manufacturing
o Others
- Supplychain
o Fleet Management
o Supply Chain Planning
o Warehouse Management
o Virtual Assistant
o Risk Management
o Freight Brokerage
o Others
- Building Automation
- Consumer
- Food & Beverage
- Gaming
- Media and Entertainment
- Telecommunication
o Predictive Maintenance & Machine Inspection
o Customer Analytics
o Network Security
o Network Optimization
o Self-Diagnostics
o Virtual Assistance
o Others
- Oil & Gas
o Predictive Maintenance & Machine Inspection
o Material Movement
o Production Planning
o Field Services
o Quality Control
o Reclamation
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