Image Recognition - Thailand

The Image Recognition Market within the Computer Vision Market in Thailand is experiencing subdued growth, influenced by factors such as slow adoption of AI technology and limited awareness among consumers. Despite this, it is still expected to see growth due to the convenience and efficiency it offers in various industries.

Customer preferences: The rise of e-commerce and the convenience of online shopping has resulted in a growing demand for image recognition technology in Thailand. Consumers are now able to use their smartphones to search for products using images, making the shopping experience more seamless and efficient. Additionally, the increasing use of social media platforms has also led to a rise in demand for image recognition technology, as businesses utilize it for targeted advertising and personalized recommendations. This trend is further accelerated by the growing popularity of influencer marketing, where images play a crucial role in promoting products and services.

Trends in the market: In Thailand, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for applications in security and surveillance systems. This trend is due to increasing concerns over security threats and the need for advanced surveillance technology. Additionally, there is a growing trend of integrating image recognition technology into retail and marketing strategies, allowing for personalized shopping experiences and targeted advertising. These trends are significant as they highlight the increasing adoption of AI-based solutions in various industries and have potential implications for industry stakeholders, such as increased competition and the need for skilled AI professionals.

Local special circumstances: In Thailand, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is driven by the growing adoption of digital technologies in various industries, such as retail, healthcare, and automotive. The country's favorable regulatory environment and government support for technological advancements have also contributed to the market's growth. Additionally, Thailand's strategic location and strong infrastructure make it a prime location for research and development in the field, attracting global players to invest in the market.

Underlying macroeconomic factors: The growth of the Image Recognition Market in Thailand is also influenced by macroeconomic factors such as advancements in technology, government policies, and investment in infrastructure. Countries with supportive regulatory environments and significant investments in artificial intelligence are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing adoption of AI in various industries and the growing demand for automation are driving the demand for image recognition solutions in Thailand.

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.