Artificial Intelligence - China

The Artificial Intelligence market in China is experiencing rapid growth, driven by factors such as increasing adoption of digital technologies, rising demand for advanced AI solutions, and the convenience offered by online services. The market's elevated growth rate can be attributed to the advancements in AI Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI. These sub-markets play a crucial role in shaping the overall market landscape in China.

Customer preferences: With the rapid development of Artificial Intelligence in China, consumers are increasingly gravitating towards AI-powered solutions for various tasks such as virtual assistants, smart home devices, and personalized shopping experiences. This can be attributed to the growing tech-savvy population and the convenience offered by AI in simplifying daily tasks. Additionally, there is a rising demand for AI-powered healthcare solutions, including remote patient monitoring and telemedicine services, driven by the need for efficient and accessible healthcare services in the face of an aging population and increasing healthcare costs.

Trends in the market: In China, the Artificial Intelligence market is experiencing a surge in demand for AI-powered customer service solutions. This trend is driven by the country's large and growing consumer base, which is increasingly turning to online shopping and other digital services. As a result, companies are investing in AI technologies to improve customer engagement and enhance the overall shopping experience. This trend is expected to continue, with AI-powered chatbots and virtual assistants becoming more prevalent in the e-commerce industry. This has significant implications for industry stakeholders, as it presents opportunities for increased efficiency and cost savings, but also raises concerns about the potential displacement of human workers. As such, companies will need to carefully consider the ethical and social implications of implementing AI in their operations.

Local special circumstances: In China, the Artificial Intelligence (AI) market is rapidly growing due to the country's strong government support and widespread adoption of technology. With a large population and increasing digitalization, there is a huge demand for AI solutions in various industries, such as healthcare, finance, and manufacturing. Additionally, China's unique regulatory environment, with a focus on data privacy and security, has shaped the development and implementation of AI technologies in the country. This has resulted in a unique market landscape with a strong emphasis on data privacy and security in AI applications.

Underlying macroeconomic factors: The Artificial Intelligence market in China is heavily influenced by macroeconomic factors such as government support, technological advancements, and investment in research and development. China's strong economic growth and favorable regulatory environment have also contributed to the rapid growth of the AI market. Additionally, the increasing demand for AI solutions in various industries, such as healthcare, finance, and manufacturing, is driving the market growth. The country's large population and aging demographics also present significant opportunities for AI adoption, as it can help address the challenges of an aging society.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.