Artificial intelligence and robotics are growing fast. Globally there are now 113 installed industrial robots per 10,000 employees in the manufacturing sector — that’s an increase from 74 just four years ago. South Korea leads, with 855 installed robots per 10,000 employees.
Globally, the ‘digital health’ market will grow by close to 20% this year, which amounts to an increase of over $200 billion. While APAC and Africa are expected to see the fastest growth in this sector, North America will hold the largest share of the market.
The global blockchain services market generated between $1.81 billion and $1.83 billion in 2019. Government backing and strong legislative movements have propelled the Asia Pacific region as the leading geography with blockchain network adoption.
via Everest Group
The high growth in the commercial segment is primarily due to the AR/VR capability to solve complex business problems and streamline operations. The two industries that are seeing the most activities or implementation in Asia-Pacific are education ($495.3 million in 2019) and retail ($244.4 million in 2019).
The global retail analytics market will reach a value of $24 billion by 2027 — expanding at a CAGR of ~19% from 2019 to 2027. Asia Pacific is anticipated to dominate the global retail analytics market and expand at a CAGR of ~24% during the forecast period.
The current worldwide population of professional developers is projected to grow from 23.9 million today to 28.7 million in 2024. This study shows strong growth in the Asia Pacific and Latin America regions.
via Evans Data
AI market in the APAC region, including software, hardware, and services, will grow from $6 billion in 2017 to $136 billion by 2025. By the end of the forecast, China will become 70% of the market, followed, by Japan, South Korea, India, and the rest of APAC.
Digitization has allowed for productivity and export growth in services that previously was not possible. This is the case with modern services such as finance, communication, software, legal, advertising, and business. Digital platforms and e-commerce have the potential to raise productivity, employment, and wages in the services sector.
Asia Pacific (excluding Japan) spending on robotics is forecast to reach $125.4 billion in 2022, tripling the total spending in 2017, with a compound annual growth rate (CAGR) of 25.7% from 2018 through 2022. APEJ is the largest market for robotics applications and will account for more than 62% of the world’s total robotics market in 2022.
While Silicon Valley in California still leads the way internationally, Beijing is hot on its heels. In the period that Beijing saw 29 unicorns, Silicon Valley had 57, but the Chinese cities are ramping up to compete as investors start to look beyond California.