Computer Vision - Portugal

The Artificial Intelligence market in Portugal is experiencing mild growth, influenced by factors such as the increasing adoption of digital technologies, rising awareness of the benefits of AI, and the convenience of online services. The sub-markets of Speech Recognition, Image Recognition, and Facial Recognition play a crucial role in driving this growth, as they offer innovative solutions in various industries, including healthcare, retail, and security. However, challenges such as data privacy concerns and the need for skilled professionals may impact the market's growth rate.

Customer preferences: In Portugal, the Computer Vision Market within the Artificial Intelligence Market is experiencing a rise in demand for advanced machine learning technologies that can detect and prevent fraud in the financial sector. This trend is driven by increasing concerns about financial security and the need for efficient fraud detection methods. Additionally, with the rise of e-commerce and digital payments, there is a growing need for secure and accurate identity verification methods, leading to the adoption of computer vision solutions in the financial industry.

Trends in the market: In Portugal, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology in various industries, including retail and security. This trend is expected to continue as companies seek more efficient and accurate ways to identify and track individuals. Additionally, there is a growing interest in self-driving vehicles, leading to the development of computer vision systems for autonomous driving. These trends have significant implications for industry stakeholders, as they present opportunities for innovation and revenue growth. With the increasing adoption of computer vision technology, there is also a need for regulatory frameworks to address concerns related to privacy and data protection. As such, industry players must stay updated with these trends and invest in developing robust and ethical solutions to stay competitive in the market.

Local special circumstances: In Portugal, the Computer Vision Market within the Artificial Intelligence Market is seeing significant growth due to the country's progressive stance on data privacy and protection. This has led to the development of advanced computer vision technologies that adhere to strict privacy regulations. Additionally, Portugal's strategic location in Europe has made it a hub for technology development and innovation, attracting international investments and talent. The market is also driven by the country's strong focus on research and development, with partnerships between academia and industry leading to cutting-edge computer vision solutions.

Underlying macroeconomic factors: The growth of the Computer Vision market in Portugal is also influenced by macroeconomic factors such as technological advancements, government support, and investment in AI infrastructure. Strong government initiatives and investments in AI research and development have created a conducive environment for the market to thrive. Additionally, Portugal's stable economy and growing digital infrastructure have created significant opportunities for the adoption of AI technologies, including computer vision, across various industries. Furthermore, the increasing demand for automation and efficiency in business processes is driving the growth of the computer vision market in Portugal.

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.