Global AI in Computer Vision Market Report and Forecast 2024-2032

Global AI in Computer Vision Market Size

The global AI in computer vision market is projected to grow at a CAGR of 41.0% % between 2024 and 2032, reaching a value of around USD 387.97 billion by 2032.

AI in Computer Vision Market Outlook

• Canada is anticipated to create over 35,000 new jobs within five years.

• AI global funding reached USD 66.8 billion in 2021, driving growth in the global AI computer vision market.

• Japan's AI Strategy 2022 targets global issues via Society 5.0, aiming to tackle local challenges and boost industrial competitiveness.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

AI in Computer Vision Market Growth

The AI in computer vision market comprises of components including hardware and software. The market is propelled by the introduction of specialized hardware components, like GPUs and FPGAs, which are optimized for accelerating AI computations, making them essential for training and deploying deep learning models in computer vision tasks.

China aims to establish a USD 150 billion AI market by 2030, reflecting the government's ambitious goals for the industry's development.

Key Trends and Developments

Advancements in deep learning, integration of AI with edge computing, enhanced safety and security solutions, and growing adoption of AR and VR are the major trends impacting global AI in computer vision market growth.

June, 2024

Aetina addressed the rising demand for edge computer vision by launching the newest model in its MegaEdge PCIe series, integrating image recognition and AI for computing and AI inference requirements.

June, 2024

Amazon is using computer vision and AI to ensure that customers receive products in perfect condition and to enhance sustainability. "Project P.I." scanned millions of products daily for defects in North American fulfilment centres.

April, 2024

Assert AI, a computer vision company offering AI-driven video analytics solutions to various industries, announced it has secured $4 million in its Series A funding round.

April, 2024

Apple acquired Datakalab, a Paris-based startup specialising in AI compression and computer vision technology. The French company described itself as an expert in low-power, runtime-efficient, and on-device deep learning algorithms.

Advancements in Deep Learning

Deep learning methods like CNNs, RNNs, and GANs are improving computer vision systems, allowing them to attain greater precision in tasks like image recognition and semantic segmentation.

Integration of AI with Edge Computing

Deploying AI algorithms on edge devices like cameras and drones reduces latency, enabling real-time decision-making and improving efficiency across manufacturing, healthcare, retail, and automotive industries.

Enhanced Safety and Security Solutions

AI-driven computer vision enhances safety and security by detecting anomalies, identifying threats, and issuing real-time alerts in smart cities, transportation hubs, and commercial facilities.

Growing Adoption of AR and VR

AI combined with AR and VR creates immersive experiences in gaming, entertainment, retail, and training. AI-driven computer vision improves realism by enabling virtual objects to interact with reality.

AI in Computer Vision Market Trends

The automotive industry's increased adoption of AI in computer vision for advanced driver-assistance systems (ADAS) and autonomous vehicles is driving the demand for this technology. The proliferation of Internet of Things (IoT) devices and connected cameras is generating vast amounts of visual data. AI-powered computer vision solutions can analyse and extract valuable insights from this data, driving demand for AI in computer vision technologies.

Further, AI-driven computer vision in healthcare transforms medical imaging, aiding diagnostics, and personalized treatment. It assists in detecting abnormalities and early disease diagnosis, spurring AI adoption globally.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

AI in Computer Vision Industry Segmentation

“Global AI in Computer Vision Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Component

• Hardware

• Software

Market Breakup by End User

• Automotive

• Sports and Entertainment

• Robotics and Machine Vision

• Healthcare

• Security and Surveillance

• Agriculture

• Others

Market Breakup by Region

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East and Africa

AI in Computer Vision Market Share

Hardware components enhance the AI in computer vision market by enabling computer vision systems to capture and analyze detailed visual information with greater accuracy and precision.

Hardware components like Graphics Processing Units (GPUs), Field-Programmable Gate Arrays (FPGAs), and Application-Specific Integrated Circuits (ASICs) are optimised for parallel processing, making them ideal for accelerating AI algorithms used in computer vision tasks.

Software frameworks and libraries, such as TensorFlow, PyTorch, and OpenCV, provide developers with tools and resources for building and deploying AI-powered computer vision applications.

Security and Surveillance contribute to the AI in computer vision market growth, as AI-driven computer vision systems offer higher accuracy and efficiency which enables security personnel to respond quickly to security incidents and potential threats.

AI-powered computer vision systems can detect and analyse complex patterns and anomalies in visual data, enabling advanced threat detection in security and surveillance applications.

Robotics and machine vision systems equipped with AI capabilities enable flexible and adaptive manufacturing processes. AI-driven computer vision algorithms can adapt to changes in production environments, detect variations in product designs, and adjust manufacturing parameters accordingly.

Leading Manufacturers in the AI in Computer Vision Market

The companies offer various products including RF components, system processors, AI accelerators, wired and wireless networking, and others.

Intel: Founded in 1968 and is headquartered in Santa Clara, California. The company offers various products including processors, AI accelerators, Network to Edge, software, select systems and devices, and others.

Qualcomm Incorporated: Established in 1985 and is headquartered in San Diego, CA. The company offers various types of products including system processors, RF components, audio components, wired and wireless networking, and others.

Apple Inc.: Founded in 1976 and is headquartered in Cupertino, California. The company offers various products including Mac, iPad, iPhone, AirPod, TV & Home, AirTag, accessories, and others.

Microsoft Corporation: Established in 1975 and is headquartered in Redmond, Washington. The company offers various products including PCs and devices, entertainment including Xbox games, PC games, and other products.

Other global AI in computer vision market key players are Xilinx, Inc., and NVIDIA, among others.

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

AI in Computer Vision Market Analysis by Region

The United States, renowned for its technological advancements, sees substantial investments in artificial intelligence and deep learning, driving the growth of AI in computer vision technology across North America. Additionally, China is poised to become a prominent AI leader by transitioning from a manufacturing hub to a technology-driven nation, bolstering market expansion.

Further, according to ITA, the UK AI market was valued at over USD 21 billion in 2023 and is projected to surpass USD 1 trillion by 2035, making it the third largest globally, following the U.S. and China.

According to Artificial Intelligence Sector Study 2023, the annual revenues generated by AI companies in the UK amounted to an estimated Euro 10,646 million.

Key Highlights of the Report

AI in Computer Vision Market Report Snapshots

AI in Computer Vision Market Size

AI in Computer Vision Market Growth

AI in Computer Vision Market Trends

AI in Computer Vision Market Share

AI in Computer Vision Manufacturers

AI in Computer Vision Market Regional Analysis