Image Recognition - United Arab Emirates

The Artificial Intelligence market in the United Arab Emirates has seen subdued growth in the Image Recognition and Computer Vision sectors. Factors such as limited awareness and slow adoption of digital technologies are impacting this growth rate. However, with increasing health consciousness and the convenience of online services, the market is expected to experience significant growth in the near future.

Customer preferences: As the use of social media and online shopping continues to rise in the UAE, there has been a growing demand for image recognition technology in the retail sector. This allows businesses to customize their marketing strategies and offer personalized recommendations to customers. Additionally, with the increasing prevalence of e-commerce, image recognition technology is being used for payment verification and fraud detection, ensuring a secure and seamless online shopping experience for consumers.

Trends in the market: In the United Arab Emirates, the Image Recognition Market is experiencing a surge in demand for facial recognition technology, particularly in the retail and security sectors. This trend is being driven by the country's efforts to become a leader in artificial intelligence and smart city development. Additionally, there is a growing focus on implementing image recognition in healthcare and transportation industries for enhanced safety and efficiency. As this trend continues, it will create new opportunities for industry stakeholders to tap into the rapidly growing market and drive innovation in image recognition technology.

Local special circumstances: In the United Arab Emirates, the Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market is experiencing significant growth due to the government's initiatives to promote innovation and technology adoption. The country's high smartphone penetration and tech-savvy population are also contributing to the market's expansion. Additionally, the UAE's strategic location and favorable business environment make it an ideal hub for technology companies, attracting investments and driving the market's development.

Underlying macroeconomic factors: The Image Recognition Market of the Computer Vision Market within the Artificial Intelligence Market in the United Arab Emirates is heavily influenced by macroeconomic factors such as government support for AI technologies, investments in infrastructure, and national economic growth. The UAE has a strong focus on implementing AI across various industries, with initiatives such as the Dubai 10X program and the UAE Strategy for Artificial Intelligence. Additionally, the country's strong economic growth and stable political climate make it an attractive market for AI companies. These factors are expected to drive the growth of the Image Recognition Market in the UAE in the coming years.

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.