The global AI in computer vision market size is expected to grow from USD 12,443.9 million in 2022 to USD 2,68,364.8 million by 2032, at a CAGR of 36.0% during the forecast period. The growth of the market is driven by the increasing demand for computer vision systems in a variety of applications, such as self-driving cars, robotics, healthcare, and security.
AI-powered computer vision systems can be used to perform a variety of tasks, such as object detection, image classification, and facial recognition. These systems are becoming increasingly accurate and reliable, making them more suitable for a wider range of applications.
The increasing availability of data is also driving the growth of the AI in computer vision market. The large amounts of data that are being generated by sensors and cameras are essential for training AI models.
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Some of the key players in the AI in computer vision industry include:
- NVIDIA Corporation
- Intel Corporation
- IBM Corporation
- Qualcomm Technologies Inc.
- Advanced Micro Devices, Inc.
- Alphabet, Inc.
- Basler AG
- Groq, Inc.
These companies are developing and deploying AI-powered computer vision systems for a variety of applications. They are also investing in research and development to improve the accuracy and performance of their products.
The AI in computer vision market can be segmented by component, function, application, end-use industry, and region.
- By component: The market can be segmented into hardware, software, and services.
- By function: The market can be segmented into image processing, object detection, and tracking.
- By application: The market can be segmented into automotive, consumer electronics, healthcare, retail, security & surveillance, and manufacturing.
- By end-use industry: The market can be segmented into aerospace & defense, energy & utilities, and telecommunications.
- By region: The market can be segmented into North America, Europe, Asia-Pacific, and Latin America.
Top Impacting Factors
The following are some of the top factors that are impacting the growth of the AI in computer vision market:
- Increasing demand for computer vision systems in a variety of applications
- Increasing availability of data
- Advances in deep learning algorithms
- Government initiatives to support the development of AI
- Declining cost of hardware and software
The Asia-Pacific region is expected to be the fastest-growing market for AI in computer vision. This is due to the rapid growth of the automotive, healthcare, and manufacturing industries in the region.
North America is also expected to be a major market for AI in computer vision. This is due to the early adoption of AI technologies in the region.
Europe and Latin America are also expected to experience significant growth in the AI in computer vision market.
Industry Latest News
- In January 2023, NVIDIA Corporation announced the launch of its new Jetson Xavier NX module. The module is designed for embedded AI applications, such as self-driving cars and robotics.
- In February 2023, Intel Corporation announced the launch of its new OpenVINO toolkit. The toolkit is designed to help developers build and deploy AI applications on Intel platforms.
- In March 2023, Microsoft announced the launch of its new Azure Cognitive Services. The services provide a variety of AI capabilities, including computer vision, natural language processing, and machine learning.
These are just a few of the latest news in the AI in computer vision market. The market is constantly evolving, and new developments are being announced all the time.