Computer Vision - Romania | Statista Market Forecast

The market size in the Computer Vision market is projected to reach US$81.37m 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$148.10m 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 Romania is seeing moderate growth, driven by factors such as increasing use of digital technologies, growing awareness of the benefits of AI in healthcare, and the convenience of online services. Sub-markets like Speech Recognition, Image Recognition, and Facial Recognition are also contributing to this growth. However, factors such as limited funding and shortage of skilled professionals may be impacting the overall market's growth rate.

Customer preferences: The adoption of computer vision technology is gaining momentum in Romania, as consumers seek more advanced and personalized solutions in various industries. This trend is driven by the increasing use of e-commerce and online shopping, as well as the growing demand for efficient security systems. Additionally, the rise of smart homes and smart cities is also contributing to the demand for computer vision applications, as consumers look for ways to enhance their daily lives and make them more convenient and efficient. This shift towards advanced technologies is fueled by the increasing tech-savviness of the younger generation and their preference for seamless and connected experiences.

Trends in the market: In Romania, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology. This trend is driven by the increasing use of biometric authentication in various industries, such as banking and security. Additionally, there is a growing interest in using computer vision for automated surveillance and monitoring. These developments have significant implications for industry stakeholders, as they open up new opportunities for growth and innovation. However, they also raise concerns about privacy and data security, which must be carefully addressed to ensure consumer trust and regulatory compliance.

Local special circumstances: In Romania, the Computer Vision Market within the Artificial Intelligence Market is influenced by the country's rapidly growing tech industry and government initiatives to promote innovation and digital transformation. The market has seen a rise in demand for computer vision solutions in industries such as retail, healthcare, and manufacturing. Additionally, the country's skilled workforce and lower labor costs compared to other European countries make it an attractive market for companies looking to develop computer vision technologies.

Underlying macroeconomic factors: The Computer Vision Market within the Artificial Intelligence Market in Romania is influenced by macroeconomic factors such as technological advancements, government support, and investment in research and development. The country's growing economy and favorable business environment have also contributed to the market's growth. Furthermore, the increasing demand for intelligent automation solutions in various industries, such as healthcare, retail, and manufacturing, has driven the adoption of computer vision technology in Romania. Additionally, the country's focus on developing its digital infrastructure and promoting innovation has created a conducive environment for the growth of the computer vision market.

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 - Romania

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Computer Vision - Romania

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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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