Computer Vision - MENA

The Artificial Intelligence market in MENA is experiencing moderate growth, driven by factors such as increasing adoption of computer vision technologies, rising awareness of its benefits, and the convenience of online services. The sub-markets of Speech, Image, and Facial Recognition have contributed to this growth, but challenges such as data privacy concerns and limited infrastructure may impact the overall market's mild growth rate.

Customer preferences: As the MENA region continues to invest in technological advancements, there has been a significant rise in the integration of computer vision technology in various industries. This has resulted in a growing demand for efficient and accurate computer vision solutions, especially in the healthcare and retail sectors. Additionally, there has been a noticeable shift towards the use of computer vision for security and surveillance purposes, driven by concerns over safety and security. This trend is further fueled by the increasing availability of affordable and user-friendly computer vision software and hardware.

Trends in the market: In the MENA region, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology, particularly in the security and surveillance sectors. This trend is driven by the increasing need for advanced security measures in the wake of growing security threats. Additionally, there is a growing use of computer vision in the retail and healthcare industries to improve customer experience and streamline processes. This trend is expected to continue in the coming years, with potential implications for industry stakeholders in terms of increased adoption and investment in computer vision technology.

Local special circumstances: In MENA, the Computer Vision Market within the Artificial Intelligence Market is seeing significant growth due to the region's increasing investment in advanced technologies and its push for digital transformation. The market is also influenced by the region's unique cultural and regulatory landscape, which has led to the development of localized solutions and partnerships. For example, the UAE has seen a rise in AI-powered government services, while Saudi Arabia has invested in AI education and research, creating a favorable environment for the growth of the market.

Underlying macroeconomic factors: The Computer Vision Market within the Artificial Intelligence Market in MENA is influenced by various macroeconomic factors, including technological advancements, government support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in AI technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. The growing demand for AI-driven solutions in various industries, coupled with the increasing digitalization of businesses, is driving the growth of the market in the region. Additionally, the rising adoption of AI-powered devices and the growth of the e-commerce sector are expected to further fuel the demand for computer vision technology in MENA.

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.