Image Recognition - Eastern Asia

The Eastern Asian market for image recognition within the computer vision sector of the artificial intelligence market is experiencing subdued growth due to various factors. These include slow adoption of digital technologies, lower health awareness among consumers, and limited convenience offered by online health services. Despite this, the market is still expected to see significant growth in the coming years.

Customer preferences: In Eastern Asia, there is a growing demand for image recognition technology in retail and e-commerce industries. This is fueled by the rising popularity of online shopping and the desire for personalized shopping experiences. As a result, companies are investing in computer vision technology to enhance their product recommendations and virtual try-on features. This trend is also driven by the increasing adoption of smartphones and social media, where users expect quick and accurate image recognition capabilities. Additionally, the rise of visual search and augmented reality applications is further driving the demand for image recognition technology in Eastern Asia.

Trends in the market: In Eastern Asia, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology. This trend is driven by the increasing adoption of biometric security systems and the emergence of smart cities. Additionally, there is a growing focus on using image recognition in retail and marketing, with companies utilizing the technology for personalized advertising and customer analytics. These trends have significant implications for industry stakeholders, as they open up new opportunities for revenue growth and advancements in AI technology. However, there are also concerns surrounding data privacy and security, which stakeholders must address to ensure the responsible use of image recognition in this market.

Local special circumstances: In China, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing rapid growth due to the government's investments in AI and the widespread adoption of facial recognition technology. The country's large population and high internet penetration rate have also contributed to the market's success. In Japan, the market is driven by the country's advanced technology and aging population, leading to the development of AI-powered healthcare solutions and robotic assistants for the elderly. The strict data privacy regulations in South Korea have influenced the market, leading to the development of secure and ethical AI solutions for image recognition.

Underlying macroeconomic factors: The Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market in Eastern Asia is influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in AI technologies are experiencing faster market growth. Additionally, the increasing demand for automation and optimization in industries such as retail, healthcare, and manufacturing is contributing to the growth of the market. The region's strong economic growth and rising disposable incomes have also led to a higher adoption of AI-powered solutions, further driving the market's 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.