Computer Vision - Vietnam

The Artificial Intelligence market in Vietnam, specifically the Computer Vision sector, is experiencing moderate growth due to factors such as increasing adoption of digital technologies, growing awareness of health among consumers, and the convenience of online health services. However, the market's growth rate is being impacted by challenges such as lack of skilled professionals and limited investment.

Customer preferences: As the adoption of artificial intelligence continues to grow in Vietnam, the demand for computer vision technology is also on the rise. This can be attributed to the country's growing tech-savvy population, as well as the increasing use of facial recognition and object detection in various industries such as retail, transportation, and security. Additionally, the emergence of smart cities and the push for automation in manufacturing are also driving the demand for computer vision solutions. As a result, the computer vision market is expected to experience significant growth in Vietnam in the coming years.

Trends in the market: In Vietnam, the Computer Vision Market within the Artificial Intelligence Market is experiencing a surge in demand for facial recognition technology in security and surveillance systems. This trend is expected to continue, with the country investing in smart city initiatives that utilize computer vision for traffic management and public safety. Additionally, the use of computer vision in manufacturing and retail for quality control and customer behavior analysis is on the rise. These developments have significant implications for industry stakeholders, as it presents opportunities for growth and innovation in the market.

Local special circumstances: In Vietnam, the Computer Vision Market within the Artificial Intelligence Market is experiencing strong growth due to the country's rapid economic development and increasing investments in technology. However, the market is also influenced by the government's strict regulations on data privacy and security, which can pose challenges for companies operating in this space. Additionally, the cultural emphasis on personal relationships and face-to-face interactions may impact the adoption of AI-powered solutions in certain industries.

Underlying macroeconomic factors: The growth of the Computer Vision market within the Artificial Intelligence market in Vietnam is influenced by macroeconomic factors such as advancements in technology, government policies, and investments in infrastructure. Vietnam has been investing heavily in digital infrastructure, which has led to a growing demand for AI-based solutions in various industries. Furthermore, the country's strong economic growth and supportive government policies make it an attractive market for companies looking to enter the Computer Vision market. Additionally, the increasing adoption of AI in Vietnam's manufacturing and healthcare sectors, coupled with the rising demand for automation and efficiency, 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.