Computer Vision - New Zealand

The Computer Vision market in New Zealand has seen a moderate growth rate, influenced by factors such as the increasing use of Artificial Intelligence, government initiatives to promote digital health, and the convenience of online services. The sub-markets of Speech Recognition, Image Recognition, and Facial Recognition have also played a role in driving the overall market growth.

Customer preferences: As computer vision technology continues to advance, consumers in New Zealand are increasingly seeking out AI-powered solutions for a variety of tasks. This trend is driven by a growing interest in efficiency and convenience, as well as a desire for personalized experiences. Additionally, the use of computer vision in industries such as healthcare and retail is on the rise, as it allows for more accurate and efficient data analysis and customer interactions. This shift towards AI-powered solutions is expected to significantly impact the way businesses operate and interact with consumers in the coming years.

Trends in the market: In New Zealand, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology, particularly in the retail and banking sectors. This trend is expected to continue as businesses seek to enhance security measures and improve customer experiences. Additionally, there is a growing interest in using computer vision for predictive maintenance and quality control in industrial settings. These trends signal a shift towards more advanced and widespread adoption of computer vision technology in various industries, presenting opportunities for industry stakeholders to capitalize on its potential benefits.

Local special circumstances: In New Zealand, the Computer Vision Market within the Artificial Intelligence Market is influenced by the country's small population and advanced digital infrastructure. This has led to the rapid adoption of computer vision technology in various industries, including healthcare and agriculture. Additionally, the government's focus on promoting innovation and investment in AI has created a conducive environment for the growth of the market. Furthermore, the country's strong data privacy laws and ethical considerations surrounding AI have played a crucial role in shaping the market dynamics.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market in New Zealand is influenced by various macroeconomic factors, such as technological advancements, government support, and investment in research and development. The country's stable economic environment, favorable regulatory policies, and strong focus on innovation and technology make it an attractive market for computer vision solutions. Additionally, the increasing demand for automation, data-driven decision making, and enhanced customer experience across various industries is driving the adoption of computer vision technology in the country. This is further supported by the growing digital transformation initiatives and investments in infrastructure, which are expected to fuel the growth of the market 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.