Computer Vision - Americas

The Computer Vision market in the Americas is experiencing steady growth, driven by factors such as increasing demand for digital technologies, rising awareness about the benefits of AI in healthcare, and the convenience of online services. The sub-markets of Speech Recognition, Image Recognition, and Facial Recognition are also contributing to this growth. Although the market is currently experiencing mild growth, factors such as government regulations and data privacy concerns may impact its future growth rate.

Customer preferences: As the Computer Vision Market continues to grow in the Artificial Intelligence Market, there is an increasing demand for more personalized and efficient solutions. With the rise of smart homes and smart cities, consumers are seeking computer vision technology to enhance their daily lives. This includes applications such as facial recognition for security purposes and object detection for improved shopping experiences. Additionally, with the growing popularity of virtual and augmented reality, there is a shift towards a more immersive and interactive digital experience.

Trends in the market: In the Americas, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for advanced facial recognition technology. This trend is driven by increasing concerns over security and data privacy, as well as the growing adoption of biometric authentication. Additionally, there is a growing focus on developing applications for computer vision in healthcare, such as medical imaging and robotic surgery. These trends are expected to have a significant impact on industry stakeholders, with potential implications for improved efficiency, accuracy, and cost savings.

Local special circumstances: In the Americas, the Computer Vision Market within the Artificial Intelligence Market is experiencing significant growth due to the region's advanced technological infrastructure and high adoption of AI solutions. However, the market is also impacted by strict data privacy regulations in countries like the US and Canada, which may hinder the development and deployment of certain AI technologies. Additionally, in countries like Brazil and Mexico, the market is driven by the need for cost-effective and efficient solutions in industries such as manufacturing and healthcare, where computer vision technology has shown promising results.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market in Americas is influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with strong regulatory environments and significant investments in AI technologies are experiencing a faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation and efficiency in industries such as healthcare, manufacturing, and retail is driving the adoption of computer vision solutions in the region.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.