USD 20.7 billion
Artificial Intelligence (AI) in Computer Vision Market Size, Share, Growth Analysis, By Component(Hardware (Processor (CPU, GPU, ASIC, FPGA)), By Function(Training, and Interference), By Machine Learning Models(Supervised Learning, Unsupervised Learning, Reinforcement Learning), By Application(Industrial (2D Machine Vision, 3D Machine Vision, Quality Assurance & Inspection), Non-industrial), By End-Use Industry(Automotive (ADAS & Infotainment, Autonomous & Semi-autonomous Vehicles), Consumer Electronics (Gaming, Cameras), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45D2063 |
Region:
Global |
Published Date: September, 2024
Pages:
197
|Tables:
164
|Figures:
78
Artificial Intelligence (AI) in Computer Vision Market Insights
Global Artificial Intelligence (AI) in Computer Vision Market size was valued at USD 20.7 billion in 2022 and is poised to grow from USD 25.8 billion in 2023 to USD 148.8 billion by 2031, growing at a CAGR of 24.5% during the forecast period (2024-2031).
In computer vision, artificial intelligence (AI) has become an essential element in the predictive maintenance system, applying CCTV and deep machine learning algorithms in an accurate identification of faults on several systems. Such technology’s importance is highlighted by its extensive application in different industries ranging from consumer products to medical and industrial sector. Following the introduction of image sensors, smart cameras and the deep learning algorithms, the computer vision system is increasing its popularity and the uptake in various industrial domains is driving market growth and innovation. The utility of computer vision is so far beyond traditional industries because of having fields like consumer drones or autonomous vehicles. Its capability to treat information by visual means in real-time has enabled its application in industries like education, robotics, retail, and security & surveillance. Facial recognition and biometric scanning, which are powered by computer vision, mainly cover asset and identity protection areas, and are widely used in smartphones and high-security places like bank vaults and research laboratories.
Collaborations and partnerships end up bringing us to the point where we see the fostering of adoption of AI in computer vision. For instance, in August 2022, TachyHealth, Inc., Dubai-based, integrated with medical re-fill in order to provide technological solutions such as computer vision and artificial intelligence which will help to enhance remote medical consultations and hospital operations. This type of collaboration puts to the test the rising level of symbiosis between AI technology vendors and industrial experts who help to increase efficiency in various industries. The global road toll of traffic accidents points out the necessity for advanced safety standards as fully autonomous AI-powered driving is emerging as a probable solution. It is estimated that more than one million of those tragic deaths each year are attributed to road accidents, requiring the main safety improvement. Vulnerable road users who are read as cyclists and pedestrians commonly face the verge of human errors this attributes AI in preventing accidents by employing the optimum detection and decision making.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Software
Fastest Growth
Service
Growth Rate
24.5% CAGR
Artificial Intelligence (AI) in Computer Vision Market ($ Bn)
Country Share for North America Region (%)
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Artificial Intelligence (AI) in Computer Vision Market Segmental Analysis
Global Artificial Intelligence (AI) in Computer Vision Market is segmented by component, function, machine learning models, application, end use industry, and region. Based on Component, the market is segmented into Hardware (Processor (CPU, GPU, ASIC, FPGA), Memory, Storage), Software (Platform, Solution). Based on Function, the market is segmented into Training and Interference. Based on Machine Learning Models, the market is segmented into Supervised Learning, Unsupervised Learning, Reinforcement Learning. Based on Application, the market is segmented into Industrial (2D Machine Vision, 3D Machine Vision, Quality Assurance & Inspection), Non-industrial. Based on End Use Industry, the market is segmented into Automotive (ADAS & Infotainment, Autonomous & Semi-autonomous Vehicles), Consumer Electronics (Gaming, Cameras, Wearables, Smartphones), Healthcare (Radiology, Medical Imaging), Retail, Security & Surveillance (Biometrics, Image & Video Analytics, Ai-guided Drone-based Surveillance), Manufacturing, Agriculture (Crop Monitoring, Automated Irrigation Systems), Transportation & Logistics, Others. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Analysis by Component
AI in Computer Vision is an area of software with several alternatives such as algorithms, frameworks and platforms, which provide the tools for processing, analyzing and interpreting visual data. The broad scope of AI is well covered by deep learning frameworks, image recognition software, video analytics tools, and AI based algorithms. The software part represents the basis for training AI models, performing object detection, image segmentation and face recognition, as well as most of the tasks related to the computer vision. The software segment is dominating the market because a number of factors play a major role in it. Firstly, as a result of accelerated development in deep learning algorithms and neural networks, the precision and performance of deep vision systems have been greatly enhanced. This has led to the hike in demand for advanced software systems adept at analyzing and processing pictures.
However, it is services segment that increased the most in the Global Artificial Intelligence (AI) in Computer Vision Market. Services, which may include consulting, integrations, maintenance, and solution support are provided by AI solution providers and technology vendors. As artificial intelligence gets used increasingly in industries, there is a need for a team of professionals who can be responsible for the actualization of computer vision implementation. Service providers are involved in various aspects of computer vision application development, providing AI solutions integration with existing software, as well as by monitoring and maintaining AI systems’ operation. Jobs in the field will grow at a high rate thanks to the scarcity of computer vision experts capable of delivering domain-specific results. Providers of these services cover the full spectrum, including the processing of data, training of models, deployment, and the ongoing management. Growing business scenarios like healthcare, automotive, retail, and surveillance are dominant next generations including computer vision systems using artificial intelligence, so they need more specific services to implement AI-based computer vision systems effectively.
Analysis by End User
The healthcare sector is the largest segment in the Global Artificial Intelligence (AI) in Computer Vision Market being the most diverse application sector with a very important impact in care and diagnostics. An Artificial Intelligence (AI)-powered computer vision technology is nowadays being utilized in medical imaging, disease diagnosis, surgical planning as well as the follow-up on the patient health. Computer vision algorithms can be used to look at medical images like X-rays, MRIs, and CT scans and detect abnormalities, early diagnosis and provide important insights to healthcare personnel. The implementation of AI in health care is attributed to an aspiring need to provide precision, productivity and affordability in medical imaging and diagnosis.
On the other hand, there is the case of automotive which is the fastest growing in the AI in Computer Vision business. The incorporation of AI in vehicles results in a transformation of the automotive sector with the help of computer vision technology. Computer vision systems provide ADAS and self-driving features with their technological capabilities. These systems can analyze real-time visual data from cameras and sensors to detect objects, identify pedestrians, comprehend the traffic signs, and serve as navigation guides for lanes. The automotive world is significantly allocating capital to AI-powered computer vision systems as they improve safety, driving, and even shift driving to autonomy. The development of the automotive segment is driven by the further development of the driver assistance systems, increased focus on traffic safety, and constant improvement of autonomous vehicle technology. Integration of AI into computer vision technology is set to shape the automotive industry and change the notion of how transportation will be in the future.
Artificial Intelligence (AI) in Computer Vision Market By Component
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Artificial Intelligence (AI) in Computer Vision Market Regional Insights
Asia Pacific region is dominating the market. Important players such as Omron Corp. are expected to contribute to the market and Sony Semiconductor Solutions Corp. presence will drive the growth of the market in this region. Investments in the APAC region is increasing significantly. For example, in February 2022, Amazon Web Services, Inc., a provider of cloud computing platforms, will launch AWS Panorama, a software development kit in Asia-Pacific that powers productivity with computer vision.
North America is expected to grow significantly during the forecast period. This increase is due to positive government initiatives to promote the adoption of computer vision in the region. For example, in May 2021, IT systems developer NEC Corporation of America launched NEC National Security System, a new subsidiary of NEC Corporation of America. The new company will provide U.S. the government has acquired computer vision, artificial intelligence applications and company’s biometrics.
Artificial Intelligence (AI) in Computer Vision Market By Region
- Largest
- Fastest
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Artificial Intelligence (AI) in Computer Vision Market Dynamics
AI in computer vision Market Drivers
Technological Advancements Stimulating Innovation in Computer Vision
- Rapid advances in AI algorithms, deep learning, and neural networks are exponentially increasing the capabilities of computer vision systems. These technological innovations are enabling accurate and efficient image and video analysis and are driving the adoption of AI in computer vision across a variety of industries.
Increasing Demand in Various Applications: Expansion of Infrastructure
- The expansion of AI-powered computer vision in applications such as healthcare, automotive, retail, security is a key development from medical imaging to autonomous vehicles. So, the demand for advanced computer vision solutions is increasing, fueling the market growth.
Restraints
High Implementation Costs are Economic Barriers to Adoption
- High costs associated with implementing AI in computer vision systems can be a major barrier, especially for SMEs. Investments in hardware, software, and skilled personnel are high, which may hinder adoption everywhere.
Data Privacy and Security Concerns
- Collecting and analyzing large amounts of tangible data raises serious privacy and security concerns. Ensuring that data is used ethically and in compliance with strict regulations can be challenging, potentially restraining the growth of Artificial Intelligence (AI)in the computer vision market.
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Artificial Intelligence (AI) in Computer Vision Market Competitive Landscape
Global Artificial Intelligence (AI) in Computer Vision has tremendous progress, resulting in disruption in numerous sectors such as healthcare and automotive. The major players such as Google, Microsoft, and NVIDIA have advanced the field with their algorithms and frameworks. On the other hand, startups such as Clarifai and SenseTime have also made significant innovations. Launches, innovations, technology advancements, mergers, and acquisitions, collaborations and partnerships are some of the growth strategies that are adopted by these key players to thrive in the competitive market.
AI in computer vision Market Top Player’s Company Profiles
- Microsoft Corporation (US)
- Google LLC (US)
- IBM Corporation (US)
- Amazon Web Services, Inc. (US)
- Intel Corporation (US)
- NVIDIA Corporation (US)
- Apple Inc. (US)
- Facebook, Inc. (US)
- Qualcomm Incorporated (US)
- Baidu, Inc. (China)
- Alibaba Group Holding Limited (China)
- Tencent Holdings Limited (China)
- Samsung Electronics Co., Ltd. (South Korea)
- Sony Corporation (Japan)
- Huawei Technologies Co., Ltd. (China)
- SenseTime Group Ltd. (China)
- Cognex Corporation (US)
- Honeywell International Inc. (US)
- Texas Instruments Incorporated (US)
- NEC Corporation (Japan)
AI in computer vision Market Recent Developments
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In May 2024, OpenAI announced GPT-4o, its new flagship model that can reason across audio, vision, and text in real time. GPT-4o is a step towards much more natural human-computer interaction and has the capability to accepts as input any combination of text, audio, image, and video and generates any combination of text, audio, and image outputs.
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In February 2024, Assert AI unveiled its no-code computer vision platform Pratham. This platform is patented for its innovative approach to democratizing computer vision and artificial intelligence. With Pratham, users can unlock the potential of Vision AI technology without the need for coding or AI expertise, marking a significant milestone in the field of computer vision technology.
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In March 2023, Microsoft Corporation announced a renaissance in computer vision AI with Microsoft’s Florence foundation model. Microsoft’s Florence foundation model is trained with billions of text-image pairs and integrated as cost-effective, production-ready computer vision services in Azure Cognitive Service for Vision. The improved Vision Services enables developers to create cutting-edge, market-ready, responsible computer vision applications across various industries.
Artificial Intelligence (AI) in Computer Vision Key Market Trends
- Bringing the IoT Together: Connecting the Physical and Digital Worlds: The integration of AI-driven computer vision with the Internet of Things (IoT) is a market priority. This integration enables new applications and enhances existing ones, providing real-time, intelligent insights for connected devices. From smart cities to industrial automation to home security to retail analytics, the interplay between AI and IoT in computer vision is driving innovation and opening new opportunities for growth.
Artificial Intelligence (AI) in Computer Vision Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, one of the remarkable things that AI in Computer Vision has done is to change the operation of many industries, such as healthcare, automotive industry and many others. Integration allows machines to interpret and process visual data with impressive accuracy, speed, and efficiency, such as image recognition, object detection, and even autonomous navigation. The union of AI algorithms with computer vision techniques has not only improved the productivity and decision-making process, but it has also created way for the range of applications such as facial recognition, augmented reality, and surveillance systems. Furthermore, the future is expected to see even more advanced forms of AI where deep learning and neural networks architecture are further improved, which signals a revolutionary wave in computer vision as well as other sectors.
| Report Metric | Details |
|---|---|
| Market size value in Computer | USD 20.7 billion |
| Market size value in 2031 | USD 148.8 billion |
| Growth Rate | 24.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Artificial Intelligence (AI) in Computer Vision Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Artificial Intelligence (AI) in Computer Vision Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Artificial Intelligence (AI) in Computer Vision Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Artificial Intelligence (AI) in Computer Vision Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Artificial Intelligence (AI) in Computer Vision Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Artificial Intelligence (AI) in Computer Vision Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Artificial Intelligence (AI) in Computer Vision Market Report Snapshots
- Artificial Intelligence (AI) in Computer Vision Companies
- Artificial Intelligence (AI) in Computer Vision Market Size
- Artificial Intelligence (AI) in Computer Vision Market Analysis
- Artificial Intelligence (AI) in Computer Vision Geographic Analysis
- Artificial Intelligence (AI) in Computer Vision Market News
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