BEIJING, Aug. 30 (Xinhua) -- The overall scale of China's artificial intelligence (AI) market will maintain a high growth rate in the next five years, with a compound annual growth rate of 44.9 percent, which will drive the market value to exceed 17 billion U.S. dollars by the end of this period, according to a report jointly released by International Data Corporation (IDC) and China's leading server manufacturer Inspur, at the AI Computing Conference 2019 held Wednesday in Beijing.
IDC divides the AI market into hardware, software and services by technology type. The report shows that in the entire AI market in China, the hardware market is the most prominent. The global market researcher predicted that by 2021, the market for AI hardware will account for more than 50 percent of the total AI market size, and the server market will takes up more than 85 percent of the hardware market. Furthermore, by 2023, the value of AI hardware market will reach 8.3 billion U.S. dollars.
The report also predicted that in terms of application penetration, the Internet will still rank first among all AI industries, accounting for 62.4 percent of China's AI computing investment market share. The most typical application scenarios will include precision marketing, image recognition, and intelligent customer service in e-commerce field, as well as video content review, face recognition and smart writing. Application scenarios in government service and the financial industry come to the second and third place, but with the fastest growth, both at a growth rate exceeding 100 percent.
In addition, the report mentioned that the AI chip market will also grow quickly in the next five years, with a compound growth rate of 53 percent. At the same time, to cater for different demands created by different fields, industries and application scenarios, the types of chips will become more and more diverse, to further expand the niche market scope . (Edited by Li Wenxin, firstname.lastname@example.org)