The Asia Pacific Diagnostic Analytics Market is expected to witness market growth of 32.0% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Diagnostic Analytics Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $8.36 billion by 2031. The Japan market is registering a CAGR of 31.2% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 32.9% during 2024-2031.
Manufacturing companies use these analytics to enhance production efficiency and quality control. Manufacturers can uncover the root causes of defects, delays, and operational bottlenecks by analyzing historical data from production lines. This allows targeted interventions to improve processes, reduce waste, and ensure product quality.
The adoption of these analytics has surged across various industries due to several key drivers, including the increasing availability of data combined with the growing sophistication of data storage and processing technologies. These factors have made it easier for organizations to harness the power of these analytics.
In China, the IT industry is undergoing remarkable growth, with the software and information technology services sector reaching 12.33 trillion yuan (approximately 1.73 trillion USD) in 2023, representing a 13.4% increase from the previous year. This growth is fueling the demand for advanced analytics technologies, including these analytics. In India, the hospital and healthcare sector are rapidly growing, with the market expected to nearly double in value from INR 7.94 trillion in FY21 to INR 18.34 trillion by FY27. The diagnostics sector, valued at $4 billion, forms a key component of this growth, with the organized sector holding a 25% share, split between laboratories (15%) and radiology (10%). The increasing demand for medical services, driven by a growing population and a rising incidence of health issues, has created a robust market for diagnostic tools. Hence, the IT industry in China and the healthcare sector in India are integral drivers of the diagnostic analytics market.
The China market dominated the Asia Pacific Diagnostic Analytics Market by country in 2023, and is expected to continue to be a dominant market till 2031; thereby, achieving a market value of $8.36 billion by 2031. The Japan market is registering a CAGR of 31.2% during 2024-2031. Additionally, the India market is expected to showcase a CAGR of 32.9% during 2024-2031.
Manufacturing companies use these analytics to enhance production efficiency and quality control. Manufacturers can uncover the root causes of defects, delays, and operational bottlenecks by analyzing historical data from production lines. This allows targeted interventions to improve processes, reduce waste, and ensure product quality.
The adoption of these analytics has surged across various industries due to several key drivers, including the increasing availability of data combined with the growing sophistication of data storage and processing technologies. These factors have made it easier for organizations to harness the power of these analytics.
In China, the IT industry is undergoing remarkable growth, with the software and information technology services sector reaching 12.33 trillion yuan (approximately 1.73 trillion USD) in 2023, representing a 13.4% increase from the previous year. This growth is fueling the demand for advanced analytics technologies, including these analytics. In India, the hospital and healthcare sector are rapidly growing, with the market expected to nearly double in value from INR 7.94 trillion in FY21 to INR 18.34 trillion by FY27. The diagnostics sector, valued at $4 billion, forms a key component of this growth, with the organized sector holding a 25% share, split between laboratories (15%) and radiology (10%). The increasing demand for medical services, driven by a growing population and a rising incidence of health issues, has created a robust market for diagnostic tools. Hence, the IT industry in China and the healthcare sector in India are integral drivers of the diagnostic analytics market.
List of Key Companies Profiled
- SAS Institute Inc.
- Microsoft Corporation
- IBM Corporation
- SAP SE
- Google LLC (Alphabet Inc.)
- Oracle Corporation
- Salesforce, Inc.
- MicroStrategy, Inc.
- Sisense, Inc.
- Teradata Corporation
Market Report Segmentation
By Component
- Software
- Services
- Managed Servicess
- Professional Servicess
By Deployment
- Cloud-Based
- On-Premises
- Hybrid
By End-User
- Healthcare Providers
- Manufacturers
- Financial Institutions
- Retailers
- Energy & Utility Companies
- Other End-User
By Enterprise Size
- Small and Medium-sized Enterprises (SMEs)
- Large Enterprises
By Technology
- Machine Learning (ML)
- Artificial Intelligence (AI)
- Natural Language Processing (NLP)
- Data Mining
- Big Data Analytics
- Statistical Analysis
- Other Technology
By Country
- China
- Japan
- India
- South Korea
- Singapore
- Malaysia
- Rest of Asia Pacific
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. Competition Analysis - Global
Chapter 5. Asia Pacific Diagnostic Analytics Market by Component
Chapter 6. Asia Pacific Diagnostic Analytics Market by Deployment
Chapter 7. Asia Pacific Diagnostic Analytics Market by End-User
Chapter 8. Asia Pacific Diagnostic Analytics Market by Enterprise Size
Chapter 9. Asia Pacific Diagnostic Analytics Market by Technology
Chapter 10. Asia Pacific Diagnostic Analytics Market by Country
Chapter 11. Company Profiles
Companies Mentioned
- SAS Institute Inc.
- Microsoft Corporation
- IBM Corporation
- SAP SE
- Google LLC (Alphabet Inc.)
- Oracle Corporation
- Salesforce, Inc.
- MicroStrategy, Inc.
- Sisense, Inc.
- Teradata Corporation
Methodology
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