Taiwan’s software market is expected to grow to US$4.13 billion by 2027 from US$2.57 billion last year, with the artificial intelligence (AI) sector playing a major role boosting growth, International Data Corp (IDC) said in a report on Friday.
The US-based market research firm said the compound annual growth rate (CAGR) of Taiwan’s software market is expected to reach 9.9 percent by 2027, with the CAGR for the AI sector likely to be as high as 25.9 percent, the highest among all segments in the local software market.
The forecast indicates robust demand for AI applications in Taiwan, IDC said.
Photo: Wu Po-hsuan, Taipei Times
Many tech giants and start-ups have intensified efforts to develop the AI sector, IDC Taiwan senior research manager Shirley Tsai (蔡秀宜) said in the report.
With AI technology improving, and products and services hitting the stores, as well as the presence of ChatGPT, enterprises and the general public have no limits regarding their idea of what AI applications can achieve, Tsai said, adding that she expects the AI business to grow at speed.
Citing a boom in AI applications, US-based graphics processing unit designer Nvidia Corp on Wednesday projected that its sales for this quarter would hit US$11 billion, jumping 64 percent from a year earlier and beating an early market estimate of US$7.2 billion.
On Saturday, Nvidia cofounder and CEO Jensen Huang (黃仁勳) spoke at National Taiwan University’s commencement ceremony in Taipei, saying that AI is expected to create “golden opportunities” for industries in Taiwan.
Analysts have said the growth in AI applications is expected to offset effects caused by the weakness of the consumer electronics business, which is facing inventory adjustments.
Taiwan’s software as a service sector, which includes cloud-based software and licensing delivery models, is expected to grow to US$2.45 billion in 2027 from about US$1.12 billion last year, with a CAGR of 16.8 percent, the IDC report said.
The nation’s cybersecurity as a service sector — a form of managed cybersecurity that is delivered through cloud technology — is expected to grow to US$470 million in 2027, up from US$210 million last year, it said.
IDC Taiwan senior market analyst Yvette Lin (林雅惠) said in the report that she expects enterprises to continue investing in cybersecurity to tackle increasing threats from cyberattacks and sudden market changes.
Tropical Storm Usagi strengthened to a typhoon yesterday morning and remains on track to brush past southeastern Taiwan from tomorrow to Sunday, the Central Weather Administration (CWA) said yesterday. As of 2pm yesterday, the storm was approximately 950km east-southeast of Oluanpi (鵝鑾鼻), Taiwan proper’s southernmost point, the CWA said. It is expected to enter the Bashi Channel and then turn north, moving into waters southeast of Taiwan, it said. The agency said it could issue a sea warning in the early hours of today and a land warning in the afternoon. As of 2pm yesterday, the storm was moving at
UPDATED FORECAST: The warning covered areas of Pingtung County and Hengchun Peninsula, while a sea warning covering the southern Taiwan Strait was amended The Central Weather Administration (CWA) at 5:30pm yesterday issued a land warning for Typhoon Usagi as the storm approached Taiwan from the south after passing over the Philippines. As of 5pm, Usagi was 420km south-southeast of Oluanpi (鵝鑾鼻), Taiwan proper’s southernmost tip, with an average radius of 150km, the CWA said. The land warning covered areas of Pingtung County and the Hengchun Peninsula (恆春), and came with an amended sea warning, updating a warning issued yesterday morning to cover the southern part of the Taiwan Strait. No local governments had announced any class or office closures as of press time last night. The typhoon
DISCONTENT: The CCP finds positive content about the lives of the Chinese living in Taiwan threatening, as such video could upset people in China, an expert said Chinese spouses of Taiwanese who make videos about their lives in Taiwan have been facing online threats from people in China, a source said yesterday. Some young Chinese spouses of Taiwanese make videos about their lives in Taiwan, often speaking favorably about their living conditions in the nation compared with those in China, the source said. However, the videos have caught the attention of Chinese officials, causing the spouses to come under attack by Beijing’s cyberarmy, they said. “People have been messing with the YouTube channels of these Chinese spouses and have been harassing their family members back in China,”
The Central Weather Administration (CWA) yesterday said there are four weather systems in the western Pacific, with one likely to strengthen into a tropical storm and pose a threat to Taiwan. The nascent tropical storm would be named Usagi and would be the fourth storm in the western Pacific at the moment, along with Typhoon Yinxing and tropical storms Toraji and Manyi, the CWA said. It would be the first time that four tropical cyclones exist simultaneously in November, it added. Records from the meteorology agency showed that three tropical cyclones existed concurrently in January in 1968, 1991 and 1992.
RSS