Computer Vision - Worldwide

The Artificial Intelligence market, particularly the Computer Vision sub-market, is experiencing mild growth worldwide due to increasing adoption of digital technologies and rising awareness of the convenience offered by online health services. However, factors such as privacy concerns and accuracy issues in Facial Recognition may impact this growth rate.

Customer preferences: As artificial intelligence becomes more advanced, consumers are gravitating towards computer vision technology in various industries such as healthcare, retail, and automotive. This is driven by the desire for more efficient and accurate processes, as well as the growing adoption of automation and machine learning. Additionally, the increasing use of computer vision in surveillance and security systems is also contributing to the growth of this market.

Trends in the market: In the Artificial Intelligence market, the Computer Vision sector is experiencing a surge in demand for facial recognition technology, particularly in the retail and healthcare industries. This trend is driven by the need for contactless interactions and personalized customer experiences. As the technology continues to advance, we can expect to see more applications in fields such as security and transportation. However, concerns around privacy and ethical implications may hinder its widespread adoption. Additionally, the rise of edge computing and Internet of Things (IoT) devices is creating new opportunities for computer vision integration, making it a key area for industry stakeholders to watch.

Local special circumstances: In China, the Computer Vision Market within the Artificial Intelligence Market is experiencing rapid growth due to the country's strong emphasis on innovation and adoption of emerging technologies. The government's support for smart city initiatives and the rise of e-commerce platforms have created a high demand for computer vision solutions. Additionally, the cultural preference for convenience and efficiency has led to the widespread adoption of facial recognition technology in various industries, such as retail and finance.

Underlying macroeconomic factors: The growth of the Computer Vision market is also influenced by macroeconomic factors such as advancements in technology, government support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in artificial intelligence technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Furthermore, the increasing adoption of AI-driven solutions in various industries and the rising demand for automation and efficiency are driving the growth of the Computer Vision market globally.

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.