The surge in Generative AI (GenAI) adoption is reshaping the landscape of the Asia-Pacific region, with India poised to join the ranks of the fastest-growing markets in the coming years.
In accordance with an IDC report, the Asia-Pacific region is undergoing an unparalleled rise in GenAI adoption across various sectors, encompassing software, services, and hardware tailored for AI-centric systems.
Projections indicate that GenAI expenditure in the region is expected to skyrocket to $26 billion by 2027, boasting a staggering compound annual growth rate (CAGR) of 95.4 percent during this period.
This surge underscores the region’s pivotal role in propelling the next phase of AI innovation and technological progress, as highlighted in the report.
Deepika Giri, Head of Research for Big Data and AI at IDC APJ, emphasized that investment in GenAI is anticipated to peak within the next two years, followed by a phase of stabilization.
“China is anticipated to uphold its dominance in the GenAI market, with Japan and India emerging as the most rapidly expanding markets in the foreseeable future,” Giri noted.
From software development to customer service, GenAI is driving a paradigm shift in various industries, heralding a new era of innovation across the region.
The financial services sector, in particular, is witnessing a rapid surge in GenAI adoption in Asia, with projections indicating a growth to $4.3 billion by 2027, boasting a CAGR of 96.7 percent, according to the report (IANS).
