Computer Vision - Thailand

The Artificial Intelligence market in Thailand is seeing moderate growth, driven by increasing adoption of digital technologies, growing awareness of health issues, and the convenience of online services. Factors impacting growth include the development of new sub-markets and advancements in Speech, Image, and Facial Recognition technologies.

Customer preferences: With the rise of e-commerce and online shopping in Thailand, there has been a growing demand for computer vision technology in the retail sector. Retailers are increasingly leveraging AI-powered solutions to enhance customer experience, improve inventory management, and optimize store layouts. Additionally, the rising adoption of facial recognition technology by the Thai government for security and surveillance purposes is expected to drive the growth of the computer vision market. This trend is also influenced by the country's tech-savvy consumer base and the increasing popularity of contactless payment methods.

Trends in the market: In Thailand, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology in various industries such as banking, retail, and public security. This trend is driven by the need for enhanced security, contactless payments, and personalized customer experiences. Additionally, there is a growing interest in computer vision for autonomous vehicles and smart city applications. With the government's initiatives to promote the adoption of AI, the market is expected to witness significant growth in the coming years. This presents lucrative opportunities for industry stakeholders to capitalize on this trend and offer innovative solutions to meet the evolving market demands.

Local special circumstances: In Thailand, the Computer Vision Market within the Artificial Intelligence Market is rapidly growing due to the government's focus on promoting technology and innovation. The country's strong manufacturing sector, particularly in the automotive and electronics industries, has driven the demand for advanced computer vision solutions. Additionally, Thailand's unique geographical location as a gateway to Southeast Asia has made it a hub for technology development and investment, further boosting the growth of the Computer Vision Market within the Artificial Intelligence Market. Moreover, the Thai culture's emphasis on hospitality and customer service has led to the development of AI-powered customer service solutions in various industries, creating new opportunities for the market.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market in Thailand is heavily influenced by macroeconomic factors such as the country's strong investment in technology, favorable regulatory environment, and increasing demand for advanced healthcare solutions. Thailand's growing economy and stable political climate also contribute to the market's growth, attracting investments and driving technological advancements. Furthermore, the country's well-established infrastructure and skilled workforce provide a conducive environment for the development and adoption of computer vision technologies. As the global market for artificial intelligence continues to expand, Thailand's favorable economic conditions position it as a key player in the region, driving 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.