Facial Recognition - Argentina

The Facial Recognition Market in Argentina is experiencing subdued growth, influenced by factors such as government regulations and privacy concerns. However, the market is expected to grow as consumers become more aware of the convenience offered by this technology in the Computer Vision segment of the Artificial Intelligence Market.

Customer preferences: As facial recognition technology becomes more prevalent in Argentina, concerns around privacy and data protection have emerged. This has led to a growing demand for solutions that prioritize user consent and transparency. Additionally, there has been an increase in the use of facial recognition for contactless payments and authentication, as consumers prioritize convenience and safety in the wake of the COVID-19 pandemic. This trend is expected to continue as more businesses and organizations adopt facial recognition technology for various purposes.

Trends in the market: In Argentina, the Facial Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand due to the increasing adoption of facial recognition technology in various industries such as security, retail, and banking. This trend is expected to continue as the government is implementing biometric-based identification systems for public services. Additionally, the rise of e-commerce and digital payment platforms has also led to the integration of facial recognition for enhanced security. These developments present significant opportunities for industry stakeholders to tap into the growing market and offer innovative solutions. However, there are concerns regarding privacy and data protection, which may hinder the growth of the market. As such, it is crucial for companies to address these concerns and comply with regulations to maintain consumer trust.

Local special circumstances: In Argentina, the Facial Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing strong growth due to the government's investment in smart city initiatives. The country's advanced infrastructure and high internet penetration rate have also contributed to the adoption of facial recognition technology in security and surveillance systems. Additionally, Argentina's cultural emphasis on privacy and data protection has led to the implementation of strict regulations, shaping the market landscape.

Underlying macroeconomic factors: The Facial Recognition Market of the Computer Vision Market within the Artificial Intelligence Market in Argentina is influenced by macroeconomic factors such as technological advancements, government policies, and economic stability. As the country continues to invest in advanced technologies and digital infrastructure, the demand for facial recognition solutions is expected to rise. Moreover, the increasing adoption of facial recognition technology in various industries, such as security and retail, is also contributing to market growth. However, economic uncertainties and political instability in the country may hinder market growth in the short term.

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.