AI in Computer Vision Market Set to Soar Past USD 19.25 Billion by 2030
The global AI in Computer Vision market size is expected to reach USD 19.25 billion by 2030 and exhibit a CAGR of 7.1% in the forecast period (2023−2030), according to Skyquest’s latest research report. The increased automation, growing demand for image and video analysis, improved processing power, advanced algorithms, cost-effective hardware, rising adoption in healthcare, enhanced object detection and recognition, expanded applications in autonomous vehicles, surveillance, and retail, better data labeling techniques, deep learning advancements, wider availability of open-source tools, and increased research and development efforts is fueling the market’s growth.
Westford, USA, Jan. 24, 2024 (GLOBE NEWSWIRE) — According to SkyQuest’s latest global research of the AI in the Computer Vision market, real-time image and video analysis, edge computing integration, explainable AI, human pose estimation, augmented reality applications, continuous advancements in neural networks, multi-modal data processing, compact and efficient models, improved accuracy in facial recognition, privacy-focused solutions, and cross-industry integration are the trends that aid in the market’s growth.
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- Pages – 157
- Tables – 59
- Figures – 74
AI in computer vision is a field of artificial intelligence that enables computers to interpret and analyze the visual world, simulating the way humans see and understand their environment.
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Prominent Players in AI in Computer Vision Market
- NVIDIA
- Intel
- Microsoft
- IBM
- Amazon
- Qualcomm
- Xilinx
- BASLER AG
- SenseTime
- Megvii
- viso.ai
- NAUTO
- Verkada
- Tractable
- Airobotics
- Hawk-Eye Innovations
- Trigo
- Movidius
- Standard Cognition
- Orbital Insight
- Regna
Convolutional Neural Networks (CNNs) Demand to Grow Substantially in the Forecast Period
Convolutional neural networks (CNNs) dominate the global online market as they have demonstrated their effectiveness in various computer vision tasks, including image classification, object detection, and image segmentation. They have consistently shown high accuracy and reliability.
Autonomous Vehicles is the Leading Application Segment
In terms of application, autonomous vehicles are the leading segment as they heavily rely on computer vision systems to perceive and understand their surroundings. Autonomous driving systems’ safety and efficiency improvements are a significant driver of investment and adoption.
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North America is the leading Market Due to Technological Advancements
Region-wise, North America is one of the largest growing markets with a huge emphasis on technological advancements. The region has a strong presence of tech giants, well-established research institutions, substantial investment in AI research and development, and a favorable regulatory environment. Silicon Valley and major tech hubs have driven innovation and commercialization of computer vision applications, especially in autonomous vehicles, healthcare, and retail.
A recent report thoroughly analyzes the major players operating within the AI in Computer Vision market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for AI in Computer Vision.
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Key Developments in AI in Computer Vision Market
- In May 2023, Amazon acquired Photomath, a computer vision startup specializing in math problem-solving, to improve its educational technology offerings.
- In March 2023, Facebook launched the AI Camera Effects Platform, providing developers with tools to create augmented reality effects using computer vision algorithms.
- In January 2023, Intel announced the acquisition of Movidius, a computer vision chip and software company, to enhance its AI and computer vision offerings.
Key Questions Answered in AI in Computer Vision Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market’s future growth?
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