The progress in computer vision favorably pushes the development of the AI in computer vision market. The report made available by Market Research Future (MRFR) observes that the market is projected to earn USD 27 billion while developing at a 45% CAGR in the forecast period from 2017 to 2023. The hardware segment is anticipated to develop with highest CAGR while the software segment is anticipated to control the component segment. Due to the increased focus on research and development, the hardware segment is flourishing incredibly. The market is also substantially aided by the increasing demand for computer vision applications such as autonomous cars, robotics, and others. As a result, the automotive segment is projected to expand with highest CAGR while sports and entertainment is anticipated to motivate the growth of the market further. The improved computing capabilities of processors are paving the way for the future growth in the AI in computer vision market.
The AI in computer vision market is anticipated to face a few challenges in development related to the complex AI algorithms that are required to achieve computer vision effectively. As creation of specific algorithms involves a certain deal specific knowledge, the number of people skilled to do that are also limited currently. The market is projected to be buoyed by the developments in machine learning and AI technologies in the upcoming period.
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Major Key Players
- Qualcomm Technologies, Inc. (US),
- Google LLC (US),
- Allied Vision Technologies GmbH (Germany),
- Basler AG (Germany),
- NVIDIA Corporation (US),
- Facebook (US),
- Microsoft Corporation (US),
- Intel Corporation (US),
- Apple Inc. (US),
- COGNEX Corporation (US)
According to MRFR, The AI In Computer Vision Market report made available by Market Research Future (MRFR) observes that the market is projected to earn USD 27 billion while developing at a 45% CAGR in the forecast period from 2017 to 2023.
Industry/Recent News Updates
Dec 2018– Researchers at UCLA Samueli School of Engineering and Stanford have introduced a computer system which will be capable of discovering and identifying the real-world objects that it views based on that same technique that humans use for visual learning.
Nov 2018– Hyundai Motors recently declared about their planned investment in allegro.ai, which is a renowned technology company that specializes in DL (deep learning)-based computer vision. The objective of this partnership is in speeding up the AI technologies’ deployment in different business areas and offer customers with safer driving experience. This technology can be used in autonomous driving systems for improving real-time decision making and road navigation.
The segmentation of the AI in computer vision market globally is segmented into on the basis of components and vertical. On the basis of component, the market is divided into hardware and software. The hardware segment of the market is further segmented into memory, network, processor, and others. The processor segment is sub-segmented into GPU, CPU, and FGPA. The others segment of the market comprises of ASICs, smart cameras, and microcontroller boards. The hardware segment is anticipated to develop with maximum CAGR while the software segment is anticipated to control the component segment. Based on verticals, the AI in computer vision market is segmented into healthcare, security, automotive, agriculture, sports & entertainment, and others. The automotive segment is projected to develop with uppermost CAGR while the sports and entertainment segment is anticipated to control the component segment. The regions in the AI in computer vision market are Asia Pacific, Europe, North America and the rest of the world.
The region-wise analysis of the AI in computer vision market consists of Asia Pacific, Europe, North America and the rest of the world. The North American region is a prominent player in the computer vision market globally, with the most noteworthy contribution coming from countries such as the U.S. The region is anticipated to uphold its position throughout the forecast period. The factor motivating the AI in computer vision market in the North American region is the growing demand from the gaming industry and the dedicated presence of global IT leaders. The Asia Pacific region is primed to be the show substantial growth in the AI in computer vision market and is projected to surge forward in the duration of the forecast period. The enhanced growth of the regional economy and the rise of start-ups has fortified a strong demand for AI in computer vision products. The nations with increasing disposable incomes such as Japan, China and India are responsible for the most important share of the Asia Pacific region. Furthermore, the growth of the region is being motivated by factors such as evolving AI talent to inspire the application of computer vision technology in the domestic market and the growing demand from the end-user segments.
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LIST OF TABLES
Table 1 Global AI in Computer Vision Market, by Country, 2018–2023
Table 2 North America: AI in Computer Vision Market, by Country, 2018–2023
Table 3 Europe: AI in Computer Vision Market, by Country, 2018–2023
Table 4 Asia-Pacific: AI in Computer Vision Market, by Country, 2018–2023
Table 5 North America: AI in Computer Vision Market, by Country
Table 6 North America: AI in Computer Vision Market, by Component
Table 7 North America: AI in Computer Vision Market, by Vertical
Table 8 Europe: AI in Computer Vision Market, by Country
Table 9 Europe: AI in Computer Vision Market, by Component
Table 10 Europe: AI in Computer Vision Market, by Vertical
LIST OF FIGURES
FIGURE 1 Global AI in Computer Vision Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis of Global AI in Computer Vision Market
FIGURE 4 Value Chain of Global AI in Computer Vision Market
FIGURE 5 Share of AI in Computer Vision Market in 2018, by country (in %)
FIGURE 6 Global AI in Computer Vision Market, 2018–2023
FIGURE 7 Global AI in Computer Vision Market Size by Component, 2018–2023
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