Computer Vision - APAC

The Artificial Intelligence market in APAC, particularly in the field of Computer Vision, has been steadily growing due to the increasing adoption of digital technologies, growing awareness of the importance of health, and the convenience offered by online health services. However, the market is experiencing only mild growth, likely due to factors such as limited technological advancements and regulatory challenges. Nevertheless, with the rising demand for Speech, Image, and Facial Recognition technologies, the market is expected to continue its growth trajectory in the coming years.

Customer preferences: With the rise of e-commerce and online shopping, consumers in APAC are increasingly relying on computer vision technology for enhanced shopping experiences. This has led to the integration of AI-powered visual search and recommendation systems in online retail platforms. Additionally, the growing adoption of smart homes and connected devices is driving the demand for computer vision-based security and surveillance systems. This trend is fueled by the rising concerns for personal and home safety, especially in densely populated urban areas.

Trends in the market: In APAC, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology. This trend is driven by the need for enhanced security measures and the widespread adoption of smart devices. As countries in the region continue to invest in smart city initiatives, the use of computer vision technology for traffic management and crowd monitoring is also on the rise. This trend highlights the potential for advanced computer vision applications and presents opportunities for industry stakeholders to capitalize on the growing market.

Local special circumstances: In China, the Computer Vision Market within the Artificial Intelligence Market is experiencing rapid growth due to the country's large population and high adoption of technology. The government's support for AI development and investments in research and development have also contributed to the market's expansion. In Japan, there is a strong focus on developing AI-powered solutions for the aging population, such as smart home devices and healthcare robots. This is driven by the country's cultural emphasis on providing care for the elderly and the growing need for innovative solutions to address this issue.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market is also influenced by macroeconomic factors such as advancements in technology, government support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in AI technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation and efficiency in industries such as manufacturing and healthcare is driving the adoption of computer vision solutions. Furthermore, the rising awareness and implementation of AI-driven smart city initiatives are also contributing to the growth of the market in APAC.

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.