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.
The interlinked platforms that make up Industry 4.0 represent a new kind of challenge for manufacturers and other technology-intensive companies. With four key business ecosystems, they can make this new world their own.
In the last few decades, China has made huge progress in science and technology. This new age of innovation has seen the birth of ‘unicorn’ tech companies like media giant Tencent, the ‘Uber of China’ Didi Chuxing, and the world’s biggest drone builder, DJI.