Image Recognition - Asia

The Asia nan Artificial Intelligence market is witnessing a subdued growth rate in the Image Recognition and Computer Vision segments. This can be attributed to factors like slow adoption of advanced technologies and limited awareness among consumers. However, the convenience offered by online services is expected to drive growth in the future.

Customer preferences: The growing adoption of smart home technology and Internet of Things (IoT) devices is driving the demand for image recognition and computer vision technologies in Asia. Consumers are increasingly seeking connected and automated solutions for their homes, leading to a rise in smart home device sales. This trend is also fueled by the growing awareness and implementation of energy-efficient and sustainable living practices. Moreover, the integration of AI-powered image recognition and computer vision capabilities in these devices is further enhancing their functionality and convenience for users.

Trends in the market: In Asia, the Image Recognition Market within the Computer Vision Market of the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology. This trend is being driven by the increasing need for contactless authentication and security measures in various industries, such as banking and retail. This trajectory is significant as it highlights the growing adoption of AI-powered solutions in the region. It also has potential implications for industry stakeholders, as they may need to adapt their products and services to cater to this growing market demand.

Local special circumstances: In China, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is driven by the country's rapid adoption of advanced technology and its vast e-commerce market. The Chinese government's investment in AI and its regulations promoting the use of facial recognition technology have also played a significant role. In Japan, cultural factors such as the aging population and high demand for automation in various industries have led to a strong demand for image recognition and computer vision solutions. Additionally, the country's strict privacy laws have influenced the development of AI technologies to ensure the protection of personal data.

Underlying macroeconomic factors: The growth of the Image Recognition Market in the Computer Vision Market within the Artificial Intelligence Market in Asia is heavily influenced by macroeconomic factors such as technological advancements, government policies, and investments in infrastructure. Countries with supportive regulatory environments and strong investments in AI technology are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for automation and efficiency in various industries, coupled with the growing adoption of AI in emerging economies, is driving the demand for image recognition 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.