Computer Vision - Morocco | Statista Market Forecast

The market size in the Computer Vision market is projected to reach US$35.36m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 10.50%, resulting in a market volume of US$64.36m by 2030.
In global comparison, the largest market size will be United States (US$6.88bn in 2024).

Definition:
Computer vision is a field of artificial intelligence that focuses on enabling computers to understand and interpret visual information from digital images or videos. It involves the development of algorithms and models that can extract meaningful insights from visual data, such as identifying objects in images (image recognition), converting spoken language into written text (speech recognition), and analyzing unique facial features for identification (facial recognition). By mimicking human vision and perception, computer vision technology enables machines to comprehend and analyze visual content. This technology is applicable to a wide range of industries.

Structure:
The Computer Vision market has three markets. The Speech Recognition market covers the analysis and interpretation of human speech. The Image Recognition market covers the analysis and interpretation of digital images using computer vision, and the Facial Recognition covers the analysis and interpretation of human faces in digital images and/or videos.

Additional Information:

The market comprises two key performance indicators: market sizes and market sizes by industry. Market sizes are generated by the funding amount of Computer Vision companies. Key players of the market include companies such as Nvidia, Intel, and IBM.

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Applications of computer vision to enable machines to interpret and analyze visual data, such as image and video recognition, autonomous vehicles, and medical imaging.

Non-artificial intelligence applications of computer vision, such as video processing and editing, which do not involve machine learning or pattern recognition.

The Artificial Intelligence market in Morocco is seeing mild growth, driven by increasing adoption of digital technologies, growing health awareness, and the convenience of online health services. These factors, along with advancements in Speech, Image, and Facial Recognition sub-markets, are impacting the overall market's growth rate.

Customer preferences: The Computer Vision Market within the Artificial Intelligence Market in Morocco is experiencing a significant rise in demand for advanced AI technologies in various sectors such as healthcare, retail, and manufacturing. This can be attributed to the increasing adoption of AI-powered solutions to enhance productivity and efficiency. Additionally, the growing use of computer vision technology in facial recognition systems and autonomous vehicles is further driving market growth. The trend towards automation and digitization in industries and the need for accurate and real-time data analysis are key factors contributing to the growth of the Computer Vision Market in Morocco.

Trends in the market: In Morocco, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology. This trend is being driven by the government's efforts to modernize security and surveillance systems, as well as the growing use of facial recognition in various industries such as retail and banking. This trajectory is expected to continue as the country invests in developing its digital infrastructure and industries. The implications of this trend include increased efficiency and accuracy in security and customer identification processes, as well as potential concerns around privacy and data protection. Industry stakeholders should closely monitor developments in this market and consider the ethical implications of its applications.

Local special circumstances: In Morocco, the Computer Vision Market within the Artificial Intelligence Market is influenced by the country's strategic location as a gateway between Europe and Africa. The government has implemented policies to promote technology and innovation, leading to a growing tech startup ecosystem. Additionally, the country's large youth population and increasing internet penetration are driving the demand for AI solutions in various industries. However, the market is still in its early stages, and regulations around data privacy and security may impact its growth potential.

Underlying macroeconomic factors: The Computer Vision Market within the Artificial Intelligence Market in Morocco is heavily influenced by macroeconomic factors. The country's economic growth and stability, as well as its fiscal policies, have a significant impact on the market's performance. Additionally, global economic trends, such as the increasing adoption of AI technologies, also play a crucial role in driving the demand for computer vision solutions in Morocco. Moreover, the government's efforts to promote innovation and investment in technology infrastructure have created a favorable environment for the growth of the market. With the rise in the aging population and the prevalence of chronic diseases, the demand for AI-powered healthcare solutions, including computer vision, is expected to increase, further driving the market's growth in Morocco.

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.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Artificial intelligence evokes images of supercomputer assistants, machines that can think creatively, and, to some, scenes from their favorite sci-fi movie. The reality, despite not being as futuristic, is not far off from this. AI refers to the ability of a computer or machine to mimic the competencies of the human mind, which often learns from previous experiences to understand and respond to language, decisions, and problems. The market for AI technologies is vast, amounting to around 200 billion U.S. dollars in 2023 and is expected to grow well beyond that to over 1.8 trillion U.S. dollars by 2030.

Artificial intelligence (AI), the technology that allows digital computers or computer-controlled robots to perform tasks more commonly associated with intelligent beings, has been leaping into the limelight following the release of a wide variety of Generative AI models in 2023. The United States, being the largest economy in the world, has a natural advantage. Although human-like androids such as those portrayed in the science fiction movie Blade Runner are still far from reality, applications of AI such as smartphone virtual assistants and industrial robots are already widespread in U.S. society. The industry’s powerful ability to improve efficiency and increase productivity has made it of strategic importance to U.S. industries and government, both of which push the U.S. lead in the AI race.

Computer Vision - Morocco

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Computer Vision - Morocco

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Artificial Intelligence

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Value

Market Size

Analyst Opinion

Global Comparison

Methodology

Technology

Access more Market Insights on Technology topics with our featured report

Key Market Indicators

Explore more high-quality data on related topic

Artificial intelligence (AI) worldwide - statistics & facts

Explore more high-quality data on related topic

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