Skip to main content
  1. Market Insights
  2. Technology
  3. Artificial Intelligence
  4. Computer Vision

Image Recognition - Australia & Oceania

Australia & Oceania
  • The market size in the Image Recognition market is projected to reach US$279.40m in 2024.
  • The market size is expected to show an annual growth rate (CAGR 2024-2030) of 8.71%, resulting in a market volume of US$461.00m by 2030.
  • In global comparison, the largest market size will be United States (US$3.66bn in 2024).

Definition:
Image recognition, as part of computer vision, refers to the technology that enables machines to analyze and understand visual data such as images and/or video frames. It involves the use of algorithms and deep learning models to identify objects, scenes, patterns, and other visual elements within images. By extracting features and patterns from the input data, image recognition systems can classify and categorize images based on the content within these images. The applications for this technology are diverse and broad and include the areas of object detection, image classification, medical imaging, autonomous vehicles, and augmented reality and make it possible for machines to comprehend and interpret visual information much like humans do.

Additional Information:

The market comprises two key performance indicators: market sizes and market sizes by industry. Market sizes are generated by the funding amount of Computer Vision companies. Key players of the market include companies such as Nvidia, Intel, and IBM.

For more information on the data displayed, use the info button right next to the boxes.

In-Scope

  • Technologies that use artificial intelligence and machine learning algorithms to analyze and interpret digital images, such as object detection, pattern recognition, and facial recognition
  • Products and services that use image recognition technology, such as security cameras, self-driving cars, and medical imaging equipment.

Out-Of-Scope

  • Technologies that do not rely on digital images, such as text-based information or audio signals
  • Products and services that do not use image recognition technology, such as physical goods or traditional customer service support.
Artificial Intelligence

Artificial Intelligence

Related markets:
Artificial Intelligence: in-depth market analysis - Cover

Market Insights report

Artificial Intelligence: in-depth market analysis

Study Details
    methodology

    Download PDF

    FAQs and more info on the methodology

    Market Size

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Analyst Opinion

    The Image Recognition Market in Australia & Oceania has seen moderate growth due to factors such as increasing use of digital technologies, growing awareness about the importance of computer vision, and the convenience of online services. However, the subdued growth rate is impacted by various factors, such as limited funding and regulatory challenges.

    Customer preferences:     There has been a growing demand for image recognition technology in Australia and Oceania, driven by the rise of e-commerce and social media platforms. This has led to a shift towards personalized and interactive shopping experiences, with consumers expecting AI-powered visual search and recommendation capabilities. Additionally, the region's diverse population and cultural influences have resulted in the need for more advanced image recognition algorithms to accurately identify and cater to different consumer preferences.

    Trends in the market:     In Australia & Oceania, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology in various industries, such as retail and security. This trend is expected to continue as businesses seek efficient and accurate ways to identify customers and prevent fraud. Additionally, there is a growing focus on using image recognition for medical diagnosis and treatment, potentially revolutionizing the healthcare industry. As this technology becomes more advanced, it could also raise concerns about data privacy and security.

    Local special circumstances:     In Australia & Oceania, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is influenced by the region's unique geography and diverse culture. The vast landmass and remote communities have led to the adoption of advanced image recognition technology in various industries, such as mining and agriculture. Additionally, the region's strong focus on sustainability and environmental conservation has also driven the demand for image recognition technology in conservation efforts. The strict regulatory framework also plays a crucial role in shaping the market, with government initiatives promoting innovation and ethical use of AI technology.

    Underlying macroeconomic factors:     The Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market in Australia & Oceania is heavily influenced by macroeconomic factors such as government initiatives, technological advancements, and investment in AI infrastructure. Countries with supportive policies and robust investments in AI are experiencing rapid market growth, while those with limited government support and technological infrastructure are lagging behind. Additionally, the growing adoption of AI in various industries, such as healthcare and retail, is driving the demand for image recognition technology in the region. Moreover, the increasing need for efficient and accurate data analysis in businesses is further fueling the growth of the market in Australia & Oceania.

    Global Comparison

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Methodology

    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.

    Technology

    Access more Market Insights on Technology topics with our featured report

    Artificial Intelligence: in-depth market analysis - BackgroundArtificial Intelligence: in-depth market analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

    Explore more high-quality data on related topic

    Artificial intelligence (AI) worldwide - statistics & facts

    Artificial intelligence evokes images of supercomputer assistants, machines that can think creatively, and, to some, scenes from their favorite sci-fi movie. The reality, despite not being as futuristic, is not far off from this. AI refers to the ability of a computer or machine to mimic the competencies of the human mind, which often learns from previous experiences to understand and respond to language, decisions, and problems. The market for AI technologies is vast, amounting to around 200 billion U.S. dollars in 2023 and is expected to grow well beyond that to over 1.8 trillion U.S. dollars by 2030.
    More data on the topic
    Size of the AI market in 2024
    184bn U.S. dollars
    Generative AI market size 2023
    44bn U.S. dollars
    Largest ML market globally
    United States

    Explore more high-quality data on related topic

    Artificial intelligence (AI) in the U.S. - statistics & facts

    Artificial intelligence (AI), the technology that allows digital computers or computer-controlled robots to perform tasks more commonly associated with intelligent beings, has been leaping into the limelight following the release of a wide variety of Generative AI models in 2023. The United States, being the largest economy in the world, has a natural advantage. Although human-like androids such as those portrayed in the science fiction movie Blade Runner are still far from reality, applications of AI such as smartphone virtual assistants and industrial robots are already widespread in U.S. society. The industry’s powerful ability to improve efficiency and increase productivity has made it of strategic importance to U.S. industries and government, both of which push the U.S. lead in the AI race.
    More data on the topic
    AI market size U.S. 2023
    87bn USD
    Growth of the AI market in the United States 2023
    64%
    Generative AI market size U.S. 2023
    16bn USD

    Contact

    Get in touch with us. We are happy to help.