Computer Vision - Portugal | Statista Market Forecast

The market size in the Computer Vision market is projected to reach US$68.10m 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$124.00m 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 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.

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 - Portugal

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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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