Image Recognition - Argentina

The Artificial Intelligence market in Argentina is witnessing subdued growth in the Image Recognition and Computer Vision sectors. Factors such as slow adoption of advanced technologies and limited investment are impacting the growth rate in this market.

Customer preferences: With the rapid adoption of e-commerce and online shopping in Argentina, there has been a growing demand for image recognition technology in the retail sector. This trend is driven by the desire for a more personalized shopping experience, as well as the need for efficient inventory management and fraud detection. Additionally, the emergence of social media influencers and the rise of visual-based platforms like Instagram have also fueled the demand for image recognition in marketing and advertising.

Trends in the market: In Argentina, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand due to the rising adoption of AI-driven technologies in various industries. This trend is expected to continue as companies invest in advanced image recognition solutions to improve their operations and enhance customer experiences. Additionally, the increasing use of drones for surveillance and data collection is also driving the growth of this market. These developments present significant opportunities for industry stakeholders, such as AI solution providers and technology companies, to capitalize on the growing demand for image recognition technology in Argentina.

Local special circumstances: In Argentina, the use of computer vision technology is gaining traction in the retail sector, with major players like MercadoLibre and Falabella adopting image recognition tools to enhance customer experience. This is due to the country's growing e-commerce market and high smartphone penetration. Additionally, Argentina's strict data privacy laws and regulations have also shaped the development of image recognition solutions in the country. These factors contribute to a unique market landscape with a focus on privacy and user experience.

Underlying macroeconomic factors: The growth of the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market market in Argentina is influenced by various macroeconomic factors. These include the country's economic health, global economic trends, fiscal policies, and other financial indicators that impact market performance. Argentina's economic instability has affected the market growth, with fluctuating exchange rates and high inflation rates. However, the government's efforts to promote investment in technology and innovation, along with the country's growing digital economy, have created opportunities for the market to expand. Furthermore, the increasing demand for advanced image recognition solutions in various industries, such as healthcare, retail, and automotive, is also driving the market growth in Argentina.

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.