Computer Vision - Ireland

The Artificial Intelligence market in Ireland, particularly in the sub-markets of Speech Recognition, Image Recognition, and Facial Recognition, is experiencing mild growth due to factors such as increasing demand for efficient and accurate data processing, rising investments in research and development, and the growing adoption of AI in various industries. However, limited availability of skilled professionals and concerns about data privacy may impact the market's growth rate in the near future.

Customer preferences: With the rise of e-commerce and online shopping, consumers in Ireland are increasingly turning to computer vision technology for a personalized and seamless shopping experience. This trend is driven by the desire for convenience and efficiency, particularly among younger demographics. Additionally, the integration of computer vision in retail stores allows for enhanced inventory management and targeted promotions, catering to changing consumer preferences and buying behaviors.

Trends in the market: In Ireland, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology, with applications in security, retail, and healthcare. Additionally, there is a growing trend of using computer vision for autonomous vehicles and industrial automation. These developments are significant for industry stakeholders as they offer opportunities for cost savings and efficiency improvements. However, there are concerns regarding privacy and ethical implications, which may require regulatory intervention to address.

Local special circumstances: In Ireland, the Computer Vision Market within the Artificial Intelligence Market is thriving due to the country's strong technology infrastructure and highly skilled workforce. The government's focus on increasing R&D investment and fostering innovation has also contributed to the market's growth. Additionally, Ireland's favorable regulatory environment and supportive policies for AI development have attracted major players in the market. This, coupled with the country's strong ties to the European Union, has positioned Ireland as a key player in the global AI market.

Underlying macroeconomic factors: The growth of the Computer Vision market in Ireland is also influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. The country's robust economy and favorable business environment have attracted major players in the AI market, leading to increased competition and innovation. Additionally, Ireland's strong investment in education and training programs in the field of AI has created a skilled workforce, further driving market growth. The country's focus on promoting digitalization and its well-established technology infrastructure also contribute to the growth of the Computer Vision market in Ireland.

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.