AI Market in China: Key Research Findings 2020
Yano Research Institute (the President, Takashi Mizukoshi) has conducted a survey on AI market in China, and found out the trends of market and trends by technological field, the government policies, the trends of market players, and the future outlook.
The market of software and systems using AI technology like machine learning, image recognition, natural language processing, and voice recognition have grown rapidly in China from 2017 to 2018, with more than 150% growth year-on-year. Nevertheless, due to the impact of prolonged US-China trade conflict like additional tariffs on Chinese products, growth rate is slowing down from 2018.
Chinese AI market for 2019 generated 800 billion yen, 145.5% of the previous year (based on the sales at businesses). While it is expected to reach 1 trillion yen by 2020, influence of the novel coronavirus pandemic on global economy and possibility of further tightening of the US sanctions on China may lead the market to become more domestic demand-based. In this regard, the growth rate is likely to diminish gradually.
Use of AI for Measures against COVID-19
As an infection control measure against the novel coronavirus, various touchless systems using big data and AI like face recognition/image recognition/location information analysis were taken in every way, such as in infection testing, outbreak situation assessment, close contacts tracking, supply management, distribution, medical diagnosis, and information transmission.
Many large and leading AI companies provide products and services, and local citizens think highly of them as useful in establishing safety/security and controlling spread of infections. The achievement is assumed to accelerate the use of AI based on big data in the real world and changing lifestyles.
The AI market in China is projected to expand to 2.23 trillion yen by 2023 (based on the sales at businesses). Powerful AI promotion policies by the Chinese government, intense business activities by AI enterprises, actual use of AI as the measures for novel coronavirus, and increasing attention on such achievements are all well-received by the market as positive growth factors.
On the other hand, sluggish global economy and intensifying US-China conflicts can be noted as negative factors. In particular, The United States have increased a sense of vigilance toward China, and tightened sanctions on Chinese enterprises. Therefore, for the meantime, the growth of AI market in China is assumingly supported by domestic demand.
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