A recent report published by Infinium Global Research on AI in computer vision market provides in-depth analysis of segments and sub-segments in the global as well as regional AI in computer vision market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional AI in computer vision market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global AI in computer vision market. According to the report, the global AI in computer vision market is projected to grow at a CAGR of 30% over the forecast period of 2021-2027.
The global AI in computer vision market was valued at nearly USD 10.5 billion in 2021 and is expected to reach over USD 80 billion in 2027, growing with a CAGR of around 30% over the forecast period. Computer vision is the subsection of the mainstream Artificial Intelligence that comprises the science and technology to enables computers and machines to analyze, process, understand, and acquire digital images. The AI in computer vision is concerned with extracting the maximum information from the image about the appearance, shape, motion estimation, by making use of a variety of multiple cameras, video sequences, and others. Furthermore, it is widely utilized in the navigation process in autonomous vehicles, medical image analysis, human-computer interactions, inspecting the manufacturing process, and many other applications.
The increasing adaption of artificial intelligence owing to the innovations in the technologies in the numerous automotive applications, business verticals, and modeling the environment such as medical image analysis are the foremost factors that contribute to the growth of the market. Furthermore, the growing demand for edge computing in mobile devices and the effectiveness of artificial intelligence in machine vision tend to impel the market growth in the near future. In addition, the adaption of the computer vision system in conventional and emerging applications is another factor boosting the market. However, insufficient expertise, lack of technical knowledge, and security concerns related to cloud-based image processing are some factors expected to hamper the growth of the market.
Among the geographies, the Asia Pacific region is expected to hold the largest share in the global AI in the computer vision market. This high share is accredited to the considerably increasing investments in Chinese companies for computer vision technology. Furthermore, the government’s strategic initiatives are increasing the growth of computer vision technology in the region. Moreover, the North American region is anticipated to witness significant growth in AI in computer vision during the projection period. The favorable government initiatives to encourage the adoption of computer vision in the region drive the market growth. In addition, the U.S. General Services Administration’s domain Artificial Intelligence (AI) Center of Excellence (CoE) helps agencies and organizations to develop AI solutions by integrating natural language processing, machine learning, computer vision, Robotic Process Automation (RPA), and intelligent process design across the country.
The report on global AI in computer vision market covers segments such as component, machine learning model, application, and end user. On the basis of component, the sub-markets include hardware, and software. On the basis of machine learning model, the sub-markets include supervised learning, unsupervised learning, and reinforcement learning. On the basis of application, the sub-markets include industrial, and non-industrial. On the basis of end user, the sub-markets include automotive, consumer electronics, healthcare, retail, agriculture, and others.
The report provides profiles of the companies in the market such as NVIDIA, Intel Corp., Microsoft Corp., IBM Corp., Qualcomm, AWS, Xilinx, Google, Facebook, and Basler.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of AI in computer vision market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.