Computer Vision - Taiwan

The Computer Vision market in Taiwan is experiencing mild growth, driven by increasing adoption of Artificial Intelligence, health awareness, and convenience of online health services. Factors such as advancements in Speech, Image, and Facial Recognition technologies also play a significant role in the market's growth rate.

Customer preferences: With the rapid development of AI technology, consumers in Taiwan are increasingly embracing computer vision solutions for various applications such as facial recognition for security and augmented reality for gaming. This trend is driven by a growing interest in advanced technology and a desire for convenience and efficiency. Additionally, the aging population in Taiwan is also contributing to the demand for computer vision solutions for healthcare and eldercare, highlighting the potential for growth in this market segment.

Trends in the market: In Taiwan, the Computer Vision market within the Artificial Intelligence market is experiencing a surge in demand for facial recognition technology in various industries, including banking, security, and retail. This trend is expected to continue as the government promotes the development of smart cities and the integration of AI technology. Additionally, there is a growing interest in using computer vision for autonomous vehicles and robotics, with several startups emerging in this space. These developments have significant implications for industry players, as they present opportunities for growth and innovation in the rapidly expanding AI market in Taiwan.

Local special circumstances: In Taiwan, the Computer Vision Market within the Artificial Intelligence Market is fueled by the country's strong focus on technology and innovation. The government's support for research and development has led to the emergence of numerous startups and companies specializing in computer vision. Additionally, Taiwan's strategic location as a hub for technology manufacturing has attracted major players in the market, creating a competitive landscape. Moreover, the country's advanced infrastructure and highly skilled workforce have contributed to the rapid growth of the Computer Vision Market within the Artificial Intelligence Market in Taiwan.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market in Taiwan is heavily influenced by macroeconomic factors such as government support, technological advancements, and investment in the tech industry. Taiwan's strong investment in research and development, as well as its supportive regulatory environment, has created a favorable market for computer vision technology. Additionally, the country's highly skilled workforce and advanced infrastructure have allowed for rapid adoption and implementation of computer vision solutions in various industries. Furthermore, the increasing demand for automation and efficiency in the Taiwanese market, along with the growing adoption of AI technologies, are driving the growth of the computer vision market in the country.

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.