A report issued by the international company IDC specialized in data collection indicates that the size of the artificial intelligence market in China will reach $26.44 billion by the year 2026.
According to Xinhua Agency, it is expected that the spending in the Chinese artificial intelligence market will reach $14.75 billion by 2023, representing approximately 10% of global spending.
The report also expects the annual growth rate of the Chinese artificial intelligence market to exceed 20% between 2021 and 2026, reflecting China’s desire to develop its capabilities in this field.
IDC confirmed that the Chinese artificial intelligence market has immense potential, emphasizing the need for technological innovation and creativity in applying and marketing AI applications effectively and engagingly.
It stated that companies enthusiastic about digital transformation will contribute to enhancing the Chinese market, with the big data sector expected to grow due to economic development and digital transformation in the country.
According to the report, investments in the Chinese big data market exceeded $17 billion in 2022, with statistics indicating that the government sector, banks, specialized services, and the telecommunications sector accounted for over 60% of the total spending.
