Australia Machine Learning Market Size & Outlook
Australia machine learning market, 2018-2030 (US$M)
Related Markets
Australia machine learning market highlights
- The Australia machine learning market generated a revenue of USD 694.9 million in 2023 and is expected to reach USD 9,726.6 million by 2030.
- The Australia market is expected to grow at a CAGR of 45.8% from 2024 to 2030.
- In terms of segment, services was the largest revenue generating component in 2023.
- Services is the most lucrative component segment registering the fastest growth during the forecast period.
Machine learning market data book summary
| Market revenue in 2023 | USD 694.9 million |
| Market revenue in 2030 | USD 9,726.6 million |
| Growth rate | 45.8% (CAGR from 2023 to 2030) |
| Largest segment | Services |
| Fastest growing segment | Services |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Solution, Services |
| Key market players worldwide | Amazon.com Inc, Baidu Inc ADR, Alphabet Inc Class A, Hewlett Packard Enterprise Co, Intel Corp, International Business Machines Corp, Microsoft Corp, SAS, SAP SE |
Other key industry trends
- In terms of revenue, Australia accounted for 1.3% of the global machine learning market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China machine learning market is projected to lead the regional market in terms of revenue in 2030.
- South Korea is the fastest growing regional market in Asia Pacific and is projected to reach USD 19,602.9 million by 2030.
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Machine Learning Market Scope
Machine Learning Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia machine learning market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to machine learning market will help companies and investors design strategic landscapes.
Services was the largest segment with a revenue share of 52.7% in 2023. Horizon Databook has segmented the Australia machine learning market based on solution, services covering the revenue growth of each sub-segment from 2018 to 2030.
The country has been actively investing in research, development, and the application of AI technologies, with both the government and private sector playing significant roles in driving this growth. Australian universities and research institutions have been actively involved in AI and machine learning research.
Institutes such as the Australian National University (ANU), the University of New South Wales (UNSW), and the Commonwealth Scientific and Industrial Research Organization (CSIRO) have been at the forefront of AI research. The Australian government has recognized the strategic importance of AI and has allocated funding and resources to support AI research and development.
Initiatives such as the National AI Action Plan and the creation of the AI Ethics Framework aim to promote responsible AI use. Growth factors of machine learning in Australia include the increasing availability of data, advancements in computing power, and the growing need for automation and optimization across industries. The expansion of the Internet of Things (IoT) and the rise of edge.
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Our clientele includes a mix of machine learning market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the Australia machine learning market , including forecasts for subscribers. This country databook contains high-level insights into Australia machine learning market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Australia machine learning market size, by component, 2018-2030 (US$M)
Australia Machine Learning Market Outlook Share, 2023 & 2030 (US$M)
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