Computer Vision - ASEAN

The Artificial Intelligence market in ASEAN is witnessing steady growth, driven by the increasing adoption of digital technologies and rising awareness about the benefits of computer vision. Factors such as the convenience offered by online health services and the demand for speech, image and facial recognition technology are also contributing to the market's growth. However, the mild growth rate can be attributed to challenges such as data privacy concerns and high implementation costs.

Customer preferences: With the rise of e-commerce and online shopping in ASEAN countries, the Computer Vision Market within the Artificial Intelligence Market is experiencing a growing demand for automated product recognition and recommendation systems. This trend is fueled by the increasing reliance on technology for convenience and efficiency in shopping. Furthermore, the incorporation of cultural and language-specific features in these systems caters to the diverse consumer preferences in the region, enhancing the overall shopping experience.

Trends in the market: In ASEAN, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for image recognition technologies in various industries, such as retail, healthcare, and manufacturing. This trend is driven by the increasing need for automation and efficiency in business processes. Furthermore, the rise of e-commerce in the region is fueling the demand for computer vision solutions to improve product search and recommendation systems. These trends are expected to continue, presenting significant opportunities for stakeholders to enhance their offerings and gain a competitive edge in the market.

Local special circumstances: In Vietnam, the Computer Vision Market within the Artificial Intelligence Market is experiencing rapid growth due to the country's strong investment in technology and rising adoption of digital services. The government's initiative to develop a smart city infrastructure is further boosting the demand for computer vision solutions. In Malaysia, the market is driven by the country's robust tech ecosystem and support for innovation, leading to the emergence of startups offering computer vision-based solutions for various industries.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market in ASEAN is heavily impacted by macroeconomic factors such as technological advancements, government support, and investment in AI infrastructure. Countries with supportive regulatory environments and a strong focus on AI technology are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing adoption of AI in various industries and the rise of smart cities in the region are driving the demand for advanced computer vision solutions. This is further supported by the growing population and increasing demand for automation and efficiency in the ASEAN 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.