FB Pixel no scriptChina's AI market size reaches USD 1.76 billion in 2018 | KrASIA
Menu
KrASIA
News

China’s AI market size reaches USD 1.76 billion in 2018

Written by Song Jingli Published on 

Share
The market is still small if you consider how much cash investors have spent.

China’s artificial intelligence market size amounted to USD 1.76 billion in 2018, said market research firm IDC. In 2023 IDC expects that number to jump to USD 11.9 billion.

According to IDC, computer vision applications took the largest share in China’s AI market with USD 750 million in 2018, while security and surveillance and facial recognition in finance were the two most common scenarios in which AI-related technologies had been used.

In the computer vision sub-sector, SenseTime took a 23% market share in the second half of 2018, ranking the first while Megvvi followed with a 20.8% share.

Megvii just closed its Series D financing round with USD 750 million, while SenseTime closed its Series C+ financing round with USD 620 million in May 2018.

Contact the writer at [email protected]

Share

You might like these

  • Insights

    This voice assistant runs errands for semi-rural users in India | Tales from India’s Towns

    By 

    Avanish Tiwary

    22 Feb 2021    01:05 AM

KrASIA InsightsKrASIA Insights

  • Niki, an AI-enabled household manager for small town consumers, helps users order groceries as well as pay utility bills.

    Insights

    This voice assistant runs errands for semi-rural users in India | Tales from India’s Towns

    By Avanish Tiwary

    22 Feb 202101:05 AM

Most PopularMost Popular

See All