Computer Vision - India

The Artificial Intelligence market in India, specifically in Computer Vision, is experiencing mild growth due to increasing adoption of digital technologies, rising health awareness among consumers, and convenience of online health services. Factors such as advancements in speech, image, and facial recognition technologies also contribute to this growth rate.

Customer preferences: With the rise of e-commerce and online shopping, there has been a growing demand for computer vision technology in India. This technology allows for virtual try-on of products, personalized product recommendations, and improved visual search capabilities. Additionally, there has been a shift towards using computer vision in industries such as retail, healthcare, and manufacturing for tasks like quality control and inventory management. This trend is driven by the need for efficient and accurate data analysis, as well as the increasing adoption of automation and AI technologies in various sectors.

Trends in the market: In India, there is a rising demand for computer vision technology in various sectors, such as healthcare, retail, and manufacturing. This is driven by the increasing adoption of AI and automation in these industries. Additionally, there is a growing trend of using computer vision for facial recognition and security purposes in public places. These trends are expected to continue on a positive trajectory, providing significant opportunities for industry stakeholders. As India continues to invest in AI and digital transformation, the computer vision market is expected to witness substantial growth. This will not only enhance efficiency and accuracy in various industries but also have a positive impact on the overall economy.

Local special circumstances: In India, the Computer Vision market is experiencing rapid growth due to the country's large pool of skilled IT professionals and government support for emerging technologies. The market is also influenced by the country's diverse population and cultural preferences, leading to the development of advanced computer vision solutions for different industries, such as healthcare and agriculture. Additionally, the country's regulatory framework for data protection and privacy is a key consideration for companies operating in this market.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market in India is heavily influenced by macroeconomic factors such as technological advancements, government initiatives, and increased investment in research and development. The Indian government's focus on promoting the adoption of artificial intelligence in various industries, coupled with the country's growing tech-savvy population, is driving the demand for computer vision solutions. Furthermore, the rise of e-commerce and automation in India is fueling the need for advanced computer vision technologies, indicating a promising market outlook.

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.