Computer Vision - Australia & Oceania

The Artificial Intelligence market in Australia & Oceania is seeing a steady growth rate, driven by factors such as increasing adoption of computer vision technologies, growing awareness of its benefits, and the convenience it offers. Sub-markets such as speech, image, and facial recognition are also contributing to this growth.

Customer preferences: With the rise of technology and digitalization in Australia & Oceania, the Computer Vision Market within the Artificial Intelligence Market is experiencing a significant shift. Consumers are now seeking more advanced and efficient computer vision solutions for various industries, such as healthcare, retail, and transportation. This demand is driven by the need for automation, improved accuracy, and cost-effectiveness in these sectors. Additionally, the growing adoption of smart devices and the increasing use of deep learning algorithms are also contributing to the growth of the computer vision market in the region.

Trends in the market: In Australia & Oceania, 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 biometric security measures in government and private sectors. Additionally, there is a growing focus on using computer vision for automating agricultural processes and improving efficiency in the mining industry. This trend is expected to continue, with potential implications for industry stakeholders including increased investment in research and development and the emergence of new players in the market.

Local special circumstances: In Australia & Oceania, the Computer Vision Market within the Artificial Intelligence Market is heavily influenced by the region's strong presence in the mining and agriculture industries. The demand for automated systems and advanced imaging technologies in these sectors has led to the adoption of computer vision solutions. Additionally, the region's strict data privacy laws and regulations have played a significant role in shaping the market, with companies developing AI-driven solutions that comply with these regulations.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market in Australia & Oceania is influenced by macroeconomic factors such as technological advancements, government support, and investment in digital 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 adoption of AI solutions in various industries and the growing demand for automation and efficiency are driving the demand for computer vision technology 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.