Computer Vision - Vietnam | Statista Market Forecast

The market size in the Computer Vision market is projected to reach US$109.80m 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$199.80m 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 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.

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 - Vietnam

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Value

Market Size

Analyst Opinion

Global Comparison

Methodology

Technology

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Key Market Indicators

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Artificial intelligence (AI) worldwide - statistics & facts

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