The global AI in computer vision market size is estimated to reach around USD 274.80 billion by 2033 from USD 17.40 billion in 2023 with a CAGR of 31.77% from 2024 to 2033.
Key Points
- North America held the largest revenue share of 38% in 2023.
- Asia Pacific is observed to be the fastest-growing region in the market during the forecast period.
- Based on the component, the software segment has garnered 58% revenue share in 2023.
- Based on function, the training segment held the largest share of the market in 2023.
- By application, the non-industrial segment held the largest share of the market in 2023.
- By end user, the consumer electronics segment dominated the AI in computer vision market in 2023 with revenue share of around 37%.
- By end user, the automotive segment is projected to grow fastest in the forecast period.
The AI in Computer Vision market has witnessed substantial growth in recent years, driven by advancements in artificial intelligence (AI) and the increasing integration of computer vision technologies across various industries. Computer vision, a field of AI, focuses on enabling machines to interpret and understand visual information, akin to human vision. This market’s evolution stems from the demand for sophisticated solutions capable of analyzing and interpreting visual data, ranging from image and video recognition to object detection and tracking.
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Growth Factors
Several factors contribute to the robust growth of the AI in Computer Vision market. The increasing adoption of AI-driven applications in industries such as healthcare, automotive, retail, and security fuels demand. Enhanced accuracy and efficiency in image and video analysis, leading to improved decision-making processes, further propel market expansion. The proliferation of smart devices, coupled with the rising need for automation and autonomous systems, creates new avenues for the integration of computer vision technologies, fostering the market’s growth.
Region Insights
The market for AI in Computer Vision exhibits a global presence, with key regions contributing significantly to its expansion. North America stands as a major player, driven by technological innovation hubs and widespread adoption of AI technologies across industries. Europe follows suit, with initiatives promoting AI research and development. Asia-Pacific showcases rapid growth, attributed to the increasing industrialization, digitization efforts, and a burgeoning tech landscape in countries like China and India.
AI in Computer Vision Market Scope
| Report Coverage | Details |
| Growth Rate from 2024 to 2033 | CAGR of 31.77% |
| Global Market Size in 2023 | USD 17.40 Billion |
| Global Market Size by 2033 | USD 274.80 Billion |
| U.S. Market Size in 2023 | USD 5.88 Billion |
| U.S. Market Size by 2033 | USD 92.94 Billion |
| Base Year | 2023 |
| Forecast Period | 2024 to 2033 |
| Segments Covered | By Component, By Application, By Function, and By End-use |
| Regions Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
AI in Computer Vision Market Dynamics
Driver:
One of the primary drivers propelling the AI in Computer Vision market is the escalating demand for automation across industries. Businesses seek to optimize processes, reduce operational costs, and enhance productivity through the integration of AI-driven computer vision solutions. The ability of these systems to analyze and interpret visual data at scale not only expedites decision-making but also contributes to improved operational efficiency and resource utilization.
Restraint:
Despite the promising growth, the AI in Computer Vision market faces challenges, with data privacy and security concerns being prominent restraints. The vast amounts of visual data processed by these systems raise questions about the ethical use and protection of sensitive information. Addressing these concerns and establishing robust security measures is crucial to fostering trust among users and ensuring the sustainable growth of the market.
Opportunities:
The market is ripe with opportunities, driven by ongoing technological advancements and the continuous evolution of AI algorithms. Opportunities lie in the development of more sophisticated and specialized computer vision applications, catering to specific industry needs. Collaboration between AI developers, computer vision experts, and industry players can unlock new possibilities, leading to the creation of innovative solutions with diverse applications across sectors.
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Recent Developments
- In March 2023, Red Cat Holdings, a military technology company that integrates robotic software and hardware, partnered with Athena Artificial Intelligence Pvt Ltd, a technology company specializing in AI and computer vision. The partnership aims to enhance the capabilities of Red Cat’s latest military drone, by integrating advanced AI and computer vision technologies developed by Athena AI.
- In August 2022, TachyHealth, Inc, a Dubai-based artificial intelligence solution provider for medical centers and hospitals, collaborated with Medical Refill, which provides remote medical consultation for their patients. The collaboration aims to provide technology solutions such as computer vision, artificial intelligence, and big data analytics to the clinical team.
- In July 2022, IDEMIA, a multinational technology company that offers facial recognition and other computer vision software & products to government and private companies, partnered with the U.S. Department of Homeland Security which takes care of public security in the U.S. The partnership is expected to improve U.S. Department of Homeland Security activities, such as identifying suspects during criminal investigations & travelers at the airports and streamlining security at the checkpoints after deploying facial recognition tools.
- In June 2022, Visionary.ai, a software provider of image signal processors (ISP), partnered with Innovize Technologies Ltd, a manufacturer of LIDAR sensors. The partnership aims to provide a combined service of ISP software and LiDAR sensors to improve the performance of 3D computer vision for various applications, including drones, robotics, and smart cities.
- In January 2022, Drishti Technologies, Inc., an AI-driven video traceability and video analytics provider, incorporated computer vision and deep learning to automate the analysis of manufacturing units with the videos.
AI in Computer Vision Market Companies
- Baummer
- Cognex Corporation
- Intel Corporation
- KEYENCE CORPORATION
- Matterport, Inc.
- NATIONAL INSTRUMENTS CORP
- Omron Corporation
- Sony Semiconductor Solutions Corporation
- Teledyne Technologies Incorporated
- Texas Instruments Incorporated
- Amazon Web Services, Inc.
- Alphabet, Inc.
- Microsoft Corporation
- Nvidia Corporation
- IBM Corporation
- Facebook, Inc.
- Qualcomm Technologies, Inc.
- Apple, Inc.
- Baidu, Inc.
Segments Covered in the Report
By Component
- Hardware
- Processor
- CPU
- GPU
- ASIC
- FPGA
- Memory
- Storage
- Processor
- Software
By Application
- Industrial
- Non-industrial
By Function
- Training
- Interference
By End-use
- Automotive
- Healthcare
- Retail
- Security And Surveillance
- Robotics And Machines
- Consumer Electronics
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
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