The new report by Expert Market Research titled, ‘Global AI in Computer Vision Market Size, Share, Growth, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of Global AI in Computer Vision Market assessing the market based on its segments like components, end user and major regions.
The report tracks the newest trends within the industry and studies their impact on the general market. It also assesses the market dynamics, covering the key demand and price indicators, alongside analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview 2018-2028
• Forecast CAGR (2023-2028): 41%
• Forecast Market Size (2027): USD 68 Billion
Countries all over the world are increasingly investing in AI and computer vision technologies as a result of advancements in technology, which is a major factor driving market growth. Companies are significantly investing in artificial intelligence and deep learning in the United States, which is a technologically advanced country. Leading corporations such as Microsoft, Apple, and Google, among others, are investing significant amount of money in R&D to create human-like machines that can interpret their surroundings and analyse data from the images and videos they view. This has a beneficial impact on AI in computer vision technology market growth in North America.
AI in Computer Vision Market Industry Definition and Major Segments
Computer vision refers to deep neural networks that have been constructed to allow applications to have human-like vision skills. Artificial intelligence allows software systems to be constructed in such a way that they can visually interpret the world through cameras, photos, and videos, and then take action or make recommendations based on that knowledge.
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Based on component, the market is divided into:
The market is segmented into the following based on end user:
• Sports and Entertainment
• Robotics and Machine Vision
• Security and Surveillance
The AI in computer vision market can be segmented on the basis region into:
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
AI in Computer Vision Market Trends
Computer vision, which is enabled by artificial intelligence and deep learning, aids in the acquisition, processing, and interpretation of images. This feature is boosting market expansion by providing a lot of functional value across industries like security and surveillance, sports, and healthcare, among others. To avoid data breaches, facial recognition and biometric recognition are becoming increasingly important in consumer electronic devices such as smartphones, tablets, and laptops, among others. In addition, as cyber threats become more prevalent, these security measures are being used to protect high-security zones such as private and government offices, as well as data centres, in order to protect confidential and sensitive information.
Apart from that, computer vision enables facial identification in security applications, allows for automatic checkout in modern retail establishments, aids in spotting manufacturing errors, can be used to detect signs of disease, and can guide travellers through airports, among other things. Object detection also allows you to recognise a single object in an image, such as a defensive player on a whole football field, keeping decorum and giving the market a boost. Furthermore, market growth can be linked to increased R&D spending as well as rising demand for AI across a variety of applications in the coming years.
Key Market Players
The major players in the market:
• Qualcomm Incorporated
• Apple Inc.
• Microsoft Corporation
• Xilinx Inc.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of those market players.
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