Computer Vision - Southeast Asia

The Southeast Asian Artificial Intelligence market, particularly in the sub-markets of Speech, Image, and Facial Recognition, is experiencing mild growth due to the increasing adoption of digital technologies and rising health awareness among consumers. However, factors such as limited access to advanced technology and data privacy concerns may impact the market's growth rate.

Customer preferences: As the use of artificial intelligence continues to grow in Southeast Asia, the Computer Vision Market within the Artificial Intelligence Market is experiencing a shift towards more advanced and personalized solutions. This is in response to the region's diverse and ever-changing consumer preferences. With a large population of tech-savvy individuals, there is a growing demand for AI-powered virtual assistants, chatbots, and voice recognition technologies. Additionally, as the region becomes more urbanized, there is an increasing need for AI-driven solutions that can enhance safety and security in cities. This includes the use of computer vision technology for surveillance and traffic management. These trends highlight the importance of adapting AI solutions to cater to the unique cultural and demographic factors in Southeast Asia.

Trends in the market: In Southeast Asia, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology, especially in the banking and finance sector. This trend is driven by the growing need for secure and contactless transactions, as well as the increasing adoption of digital banking services. Furthermore, there is a rising trend of using computer vision for crowd and traffic management in urban areas, enhancing safety and efficiency. These trends showcase the potential of computer vision technology in revolutionizing various industries in the region. As the market continues to evolve, industry stakeholders must stay updated and adapt to stay competitive in the fast-paced landscape of Southeast Asia.

Local special circumstances: In Southeast Asia, the Computer Vision Market within the Artificial Intelligence Market is experiencing rapid growth due to the region's strong investment in technology and increasing demand for innovative solutions. The diverse cultural backgrounds and regulatory frameworks of countries like Singapore, Malaysia, and Indonesia also play a significant role in shaping the market landscape. For example, Singapore's government has implemented various initiatives to promote AI adoption, while Malaysia's focus on developing smart cities has created opportunities for computer vision applications in urban planning and security. In Indonesia, the market is driven by the rising popularity of e-commerce, leading to the use of computer vision technology for inventory management and customer analytics.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market in Southeast Asia is heavily influenced by macroeconomic factors such as technological advancements, government support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in these technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing adoption of AI technologies in various industries and the rising demand for automation to improve efficiency and productivity are driving the growth of the 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.