Computer Vision - Eastern Asia

The Computer Vision market in Eastern Asia is experiencing mild growth, driven by factors such as increasing adoption of AI and digital technologies, rising awareness of their benefits, and the convenience of online services. The sub-markets of Speech, Image, and Facial Recognition are contributing to this growth, as they offer advanced capabilities for businesses and individuals. Government initiatives and investments in AI technology are also impacting the market's growth rate.

Customer preferences: The use of facial recognition technology in retail and security applications has become increasingly prevalent in Eastern Asia, driven by a growing preference for personalized and efficient shopping experiences. In addition, the rise of smart cities and the implementation of AI-powered surveillance systems have led to a surge in demand for computer vision solutions. This trend is fueled by a combination of factors, including a tech-savvy and urbanized population, as well as a strong focus on efficiency and convenience in daily life.

Trends in the market: In Eastern Asia, the Computer Vision market is experiencing a surge in demand for facial recognition technology, with applications in security, retail, and healthcare industries. The trajectory of this trend is expected to continue as governments and businesses invest in advanced AI systems for efficient operations. This trend signifies the increasing adoption of AI in the region and its potential to revolutionize various industries. For industry stakeholders, this presents opportunities for growth and innovation, but also raises concerns about data privacy and regulation. Therefore, it is crucial for stakeholders to stay updated on the latest developments and collaborate with policymakers to address ethical and legal concerns.

Local special circumstances: In China, the Computer Vision Market within the Artificial Intelligence Market is experiencing rapid growth due to the country's strong focus on technology and innovation. The government's support for AI development and investments in research and development have created a conducive environment for the market to thrive. Additionally, the large and tech-savvy population, combined with the widespread adoption of e-commerce and mobile payment platforms, has resulted in a high demand for computer vision technology in various industries, such as retail, healthcare, and security.

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 research and development. Countries with advanced technology capabilities and favorable regulatory environments are experiencing faster market growth compared to regions with limited technological capabilities and regulatory challenges. Additionally, the increasing demand for automation and efficiency in industries such as manufacturing, healthcare, and retail is driving the demand for computer vision solutions, leading to market growth.

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.