New York, United States , July 05, 2023 (GLOBE NEWSWIRE) -- The Global Artificial Intelligence In Computer Vision Market Size is to grow from USD 16.91 billion in 2022 to USD 100.42 billion by 2032, at a Compound Annual Growth Rate (CAGR) of 19.5% during the forecast period.
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Artificial Intelligence has revolutionized computer vision by enabling machines to interpret and understand visual data. AI-powered computer vision systems leverage deep learning algorithms to recognize objects, detect patterns, and perform tasks such as image classification, object detection, and tracking. AI in computer vision has applications in facial recognition, autonomous vehicles, medical imaging, and augmented reality. Through neural networks, machine learning, and big data, AI has significantly improved accuracy, speed, and efficiency in computer vision tasks. This technology finds applications across industries like healthcare, retail, transportation, and security, with ongoing advancements in algorithms and hardware driving further progress in computer vision capabilities.
Report Coverage
This research report categorizes the market for artificial intelligence in computer vision market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the artificial intelligence in computer vision market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the artificial intelligence in computer vision market.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on "Global Artificial Intelligence In Computer Vision Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware and Software), By Function (Training and Inference), By Application (Industrial and Non-industrial), By End-Use (Automotive, Consumer Electronics, Healthcare, Retail, Security & Surveillance, Manufacturing, Agriculture, Transportation & Logistics, and Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032." Get Detailed Report Description Here:
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The training function segment is expected to grow at a CAGR of around 21.3% during the forecast period.
Based on function type, the global artificial intelligence in the computer vision market is segmented into training and inference. The training function segment is anticipated to witness significant growth in the forecast period in the field of artificial intelligence in computer vision. This growth can be attributed to several factors. The increasing demand for AI-powered computer vision applications necessitates the availability of accurate and reliable training data. Organizations are investing in the development of robust training datasets to enhance the performance and accuracy of their computer vision models. The advancements in deep learning algorithms and techniques require extensive training to achieve optimal results. As a result, the training function segment is expected to expand as businesses focus on refining their models through continuous training and retraining processes.
The automotive segment held the largest market share of around 24.7% in 2022
Based on end-use, the global artificial intelligence in the computer vision market is segmented into automotive, consumer electronics, healthcare, retail, security & surveillance, manufacturing, agriculture, transportation & logistics, and others. The automotive segment has emerged as the frontrunner, holding the largest market share in the field of artificial intelligence in computer vision. This dominance can be attributed to several key factors. The automotive industry is undergoing a rapid transformation with the rise of autonomous driving and advanced driver assistance systems (ADAS). Computer vision plays a crucial role in these technologies, enabling object detection, lane departure warnings, and pedestrian recognition. Automotive manufacturers are heavily investing in AI-driven computer vision to enhance safety, improve vehicle performance, and provide a better user experience.
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Asia-Pacific is predicted to grow at a higher CAGR of around 25.2% over the projected period.
Based on region, the Asia-Pacific region is poised for highest growth in the forecast period in the field of artificial intelligence in computer vision. Several factors contribute to this expected expansion. The region boasts a large and rapidly growing population, providing a vast market for AI technologies. The countries like China, Japan, and South Korea have been investing heavily in AI research and development, fostering innovation and technological advancements in computer vision. Additionally, the Asia-Pacific region has a strong manufacturing sector, where AI-powered computer vision systems find applications in quality control and automation. Moreover, the increasing adoption of AI-driven technologies in industries such as healthcare, retail, and transportation is further propelling the growth of AI in computer vision in the Asia-Pacific region.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Some of the major players in the global artificial intelligence in computer vision market include NVIDIA Corporation, Intel Corporation, Microsoft, IBM Corporation, Qualcomm Technologies Inc., Advanced Micro Devices, Inc., Alphabet, Inc., Amazon, Basler AG, Hailo, and Groq, Inc. and others.
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Market Segment
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the global artificial intelligence in computer vision market based on the below-mentioned segments:
Artificial Intelligence In Computer Vision Market, By Component
- Hardware
- Software
Artificial Intelligence In Computer Vision Market, By Function
- Training
- Inference
Artificial Intelligence In Computer Vision Market, By Application
- Industrial
- Non-industrial
Artificial Intelligence In Computer Vision Market, By End-Use
- Automotive
- Consumer Electronics
- Healthcare
- Retail
- Security & Surveillance
- Manufacturing
- Agriculture
- Transportation & Logistics
- Others
Artificial Intelligence In Computer Vision Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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