At 23.7% CAGR, Asia Pacific AI Data Management Market is Projected to be Worth US$ 30,853.38 Million by 2031, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific AI data management market was valued at US$ 5,617.17 million in 2023 and is expected to reach US$ 30,853.38 million by 2031, registering a CAGR of 23.7% from 2023 to 2031. Surge in partnerships and acquisitions among key market players and growing investment in AI technology are among the critical factors attributed to drive the Asia Pacific AI data management market growth.

The market players are involved in partnerships and acquisitions to develop advanced software to increase their market share. The partnership and acquisition help companies exchange their expertise in AI data management and facilitate access to a diverse range of datasets. A few of such instances are mentioned below:

• In November 2023, Databricks Inc. acquired Arcion to offer native solutions. Databricks Inc. uses Arcion's real-time data replication technologies that facilitate the ingestion and seamless replication of data from diverse databases and SaaS applications.
  
  
• In May 2023, QlikTech International AB acquired Talend to broaden its capabilities for managing, processing, analyzing, and acting upon data for modern enterprises. The collaboration between QlikTech International AB and Talend strengthens numerous areas, such as application connectivity, data transformation, API services, and quality assurance.
  
  
• In March 2023, SAP SE signed a partnership agreement with leading AI companies, including Databricks Inc., Collibra NV, DataRobot Inc., and Confluent Inc. This agreement supports SAP SE to strengthen its AI data management solutions portfolio.

Moreover, a surge in partnerships and acquisitions among key market players drives the AI data management market.

On the contrary, issues related to availability of high-quality data hampers the growth of Asia Pacific AI data management market.

Based on offering, the Asia Pacific AI data management market is bifurcated into solution and service. The solution segment held 79.9% market share in 2023, amassing US$ 4,489.77 million. It is projected to garner US$ 25,092.46 million by 2031 to register 24.0% CAGR during 2023-2031.

In terms of deployment, the Asia Pacific AI data management market is segmented into on-premise and cloud. The cloud segment held 73.1% share of Asia Pacific AI data management market in 2023, amassing US$ 4,106.67 million. It is anticipated to garner US$ 22,021.58 million by 2031 to expand at 23.4% CAGR during 2023-2031.

By technology, the Asia Pacific AI data management market is divided into machine learning, natural language processing (NLP), computer vision, and context awareness computing. The machine learning segment held 40.9% share of Asia Pacific AI data management market in 2023, amassing US$ 2,297.34 million. It is projected to garner US$ 13,362.60 million by 2031 to expand at 24.6% CAGR from 2023 to 2031.

Based on industry vertical, the Asia Pacific AI data management market is categorized into BFSI, retail & e-commerce, IT & telecom, healthcare, government, and others. The BFSI segment held 30.1% share of Asia Pacific AI data management market in 2023, amassing US$ 1,691.83 million. It is predicted to garner US$ 10,441.38 million by 2031 to expand at 25.5% CAGR between 2023 and 2031.

Based on country, the Asia Pacific AI data management market is categorized into Australia, India, China, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 25.7% share of Asia Pacific AI data management market in 2023. It was assessed at US$ 1,445.86 million in 2023 and is likely to hit US$ 8,330.96 million by 2031, registering a CAGR of 24.5% during 2023-2031.

Key players operating in the Asia Pacific AI data management market are Microsoft Corp, Alphabet Inc, Oracle Corp, International Business Machines Corp, Salesforce Inc, SAP SE, Hewlett Packard Enterprise Co, SAS Institute Inc, Snowflake Inc, and Amazon com Inc, among others.

• In 2024, International Business Machines Corp provides watsonx AI and data platform to Wipro Limited for launching Wipro Enterprise Artificial Intelligence (AI)-Ready Platform. This new service will allow clients to create their enterprise-level, fully integrated, and customized AI environments. The Wipro Enterprise AI-Ready Platform leverages the IBM watsonx AI and data platform, including watsonx.ai, watsonx.data, and watsonx.governance and AI assistants, to deliver to clients an interoperable service that helps accelerate AI adoption. including watsonx.ai, watsonx.data, and watsonx.governance and AI assistants to launch of Wipro Enterprise Artificial Intelligence (AI)-Ready Platform.
  
  
• In 2023, Amazon.com, Inc. company and Salesforce announced a significant expansion of their long-standing, global strategic partnership, deepening product integrations across data and artificial intelligence (AI), and, for the first time, offering select Salesforce products on the AWS Marketplace.

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