Computer Vision - Asia

The Computer Vision market in Asia within the Artificial Intelligence Market is experiencing mild growth, driven by factors such as increasing adoption of digital technologies, growing demand for speech, image, and facial recognition, and rising awareness of the convenience offered by online health services. These sub-markets are expected to continue driving the overall market growth, with advancements in AI technology and healthcare further boosting market expansion.

Customer preferences: With the rise of e-commerce and online shopping, there has been a growing demand for computer vision technology in the retail industry in Asia. This technology allows for efficient and accurate product recognition and tracking, enhancing the overall shopping experience for consumers. Additionally, with the increasing use of social media and online platforms, there has been a rise in demand for computer vision applications such as facial recognition for personalized advertisements and targeted marketing. This trend is driven by the cultural value placed on convenience and personalization in Asian societies.

Trends in the market: In Asia, 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 increasing adoption of smart city initiatives and the need for enhanced security measures. Additionally, there is a growing use of computer vision in the retail sector for personalized marketing and inventory management. These developments suggest a promising future for industry stakeholders, as computer vision technology continues to advance and penetrate various industries. However, concerns over privacy and data protection may pose challenges for further growth and adoption.

Local special circumstances: In China, the Computer Vision Market is experiencing rapid growth due to the country's strong focus on AI technology and large population. The government's support for AI development and investment in research and development have created a favorable environment for the market. Additionally, the cultural acceptance of new technologies and the high demand for automation in various industries have further propelled the growth of the Computer Vision Market in China.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market is also influenced by macroeconomic factors such as technological advancements, government support, and investment in digital infrastructure. Countries with favorable policies and significant investments in artificial intelligence technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding for digital transformation. Additionally, the increasing adoption of AI-powered solutions across industries and the rising demand for automation in businesses are driving the growth of the computer vision market in Asia.

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.