The AI in Computer Vision Market Size is valued at USD 21.9 billion in 2023 and is predicted to reach USD 148.5 billion by the year 2031 at a 27.5% CAGR during the forecast period for 2024-2031.
AI in computer vision is a specific type that enables systems and machines to gather important information from photographs, videos, and other optical sources. Based on this information, actions or recommendations can be performed. Computer vision is made possible by AI to understand, identify, and assess optical information. The expansion of AI in the computer vision industry is being driven by the increasing demand for technologies for machine vision across a range of industry areas. Plant identification, cultivation tracking, and automated cleaning are all made possible by machine learning in agriculture. Additionally, automation, production, and retail use it for automated checkout and individual arithmetic. Because AI is used to identify objects and enable them to classify and recognize a wider range of objects, it is driving a growing demand for computer vision technology in numerous commercial sectors, such as industrial. Artificial Intelligence (AI) is, therefore, driven by the increasing demand for computer vision technology across a range of economic industries.
However, one of the prominent factors limiting the growth of the global industry is growing concerns about security and protection. Regulatory monitoring and even limitations on data use were the outcome of worries about the privacy and security of private data. Another significant obstacle to market expansion is the shortage of qualified personnel needed for the effective development and implementation of AI-driven technologies. The technology may not be extensively utilized or approved by regulators due to ethical and biased concerns. Regulatory impediments were raised, and adoption was resisted due to worries about losing employment in areas where manual examination occupations are popular. The collection as well as analysis of vast volumes of tangible data bring up significant privacy and security issues. It can be difficult to ensure that data is utilized morally and in accordance with stringent rules, which could limit the development of artificial intelligence (AI) in the market for computer vision.
Competitive Landscape
Some Major Key Players In The AI in Computer Vision Market:
- Alphabet Inc.
- Advanced Micro Devices, Inc. (commonly known as AMD)
- Amazon Web Services, Inc.
- Apple Inc.
- Baumer Optronic GmbH
- Basler AG
- Baidu, Inc.
- Cognex Corporation
- CEVA, Inc.
- Meta Platforms, Inc. (formerly Facebook, Inc.)
- General Electric Company
- Honeywell International Inc.
- Huawei Technologies Co., Ltd.
- International Business Machines Corporation (commonly known as IBM)
- Intel Corporation
- JAI A/S
- KEYENCE Corporation
- Matterport, Inc.
- MediaTek Inc.
- Microsoft Corporation
- NI (National Instruments Corporation)
- NVIDIA Corporation
- Omron Corporation
- Qualcomm Incorporated
- Samsung Electronics Co., Ltd.
- SenseTime Group Limited
- Sony Group Corporation
- Teledyne Technologies Incorporated
- Texas Instruments Incorporated
- Tencent Holdings Limited
- Other Market Players
Market Segmentation:
The AI in the computer vision market is segmented based on component, function, machine learning models, deployment, areas of application, product, end-user, company size and business model. The component category is segmented into hardware and software. By function category, the market is segmented into training and interference. By machine learning models, the market is segmented into supervised learning and unsupervised learning. As per the deployment, the market is segmented into cloud-based and on-premises. By areas of application, the market is segmented into facial recognition, image classification, object detection, object tracking, and others. By product, the market is segmented into PC-based computer vision systems and smart camera-based computer vision systems. By end-user, the market is segmented into automotive, consumer electronics, healthcare, manufacturing, retail, security & surveillance, sports & entertainment, and others. By company size, the market is divided into large enterprises and small and medium enterprises. By business model, the market is segmented into B2B, B2C, and B2B2C.
Based On The Function, The Training AI In Computer Vision Market Segment Is Accounted As A Major Contributor To The AI In Computer Vision Market
The training AI in the computer vision market will lead with a major global market share in 2023. Training data is used to develop neural networks for AI models. Processors are the most effective way to speed up training, which is a digitally demanding process. The development of deep learning algorithms necessitates specialized training to attain the best outcomes. As a result, big tech firms are spending money on developing effective training resources to raise the precision and efficiency of their computer vision algorithms.
Software Segment To Witness Growth At A Rapid Rate
The software industry uses bulk AI in computer vision because specialist hardware components like AI memory as well as processors are in high demand. AI algorithms are used for more complicated operations. The industry is seeing an increase in software popularity because advanced software for computer vision is required to meet specific business field requirements.
In The Region, The Asia Pacific AI In Computer Vision Market Holds A Significant Revenue Share
The Asia Pacific AI in computer vision market is expected to note the highest market share in revenue in the near future. This can be because of its robust manufacturing foundation, highly developed technological bases, and extensive use of the Internet of Things (IoT) devices across numerous industries. The area encourages artificial intelligence adoption and ecological expansion with its favourable legislative environment, excellent investing environment, and dynamic and driven culture. In addition, Europe is projected to get advanced rapidly in the global AI in computer vision industry because of the involvement of major tech companies in the fields of innovation and research. Many industries in the Europe region, including industrial and automotive production, are using artificial intelligence-based technologies. Healthcare companies frequently use them because AI has several uses. These industries are quickly implementing advanced automation strategies, which is driving market expansion.
Recent Developments:
- In June 2024, NVIDIA Research Demonstrated Progress in Visual Generative AI at CVPR. NVIDIA Research will present over 50 papers, including AI software with potential applications in creative sectors, autonomous vehicle development, healthcare, and robotics.
AI in Computer Vision Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 21.9 Bn |
|
Revenue Forecast In 2031 |
USD 148.5 Bn |
|
Growth Rate CAGR |
CAGR of 27.5% from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
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Forecast Year |
2024-2031 |
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Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
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Segments Covered |
Component, Function, Machine Learning Models, Deployment, Areas Of Application, Product, End-User, Company Size And Business Model |
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Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
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Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; France; Italy; Spain; South East Asia; South Korea |
|
Competitive Landscape |
Alphabet, Advanced Micro Devices, Amazon Web Services, Apple, Baumer Optronic, Basler, Baidu, Cognex, CEVA, Facebook, General Electric, Honeywell, Huawei, IBM, Intel, JAI A/S, KEYENCE, Matterport, MediaTek, Microsoft, National Instruments, NVIDIA, Omron,Qualcomm, Samsung, SenseTime, Sony, Teledyne Technologies, Texas Instruments, Tencent Holdings, and Others |
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Customization Scope |
Free customization report with the procurement of the report and modifications to the regional and segment scope. Particular Geographic competitive landscape. |
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Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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