AI in Computer Vision Market Analysis By Type(Hardware, Software), By Application(Object Detection, Image Classification, Image Segmentation, Image Restoration, Object Tracking, Facial Recognition), By Industry(Healthcare, Automotive, Retail, Agriculture, Manufacturing, Media and Entertainment) & Forecast
- PUBLISHED ON
- 24/03/2023
- NO OF PAGES
- 245
- CATEGORY
- Information Communication & Technology
The global AI in Computer Vision market is anticipated to grow from XX billion in 2022 to XX billion by 2030. Computer Vision is a field of study that focuses on enabling machines to interpret and understand the visual world. Artificial Intelligence (AI) has played a critical role in advancing computer vision capabilities in recent years, enabling machines to perform a wide range of visual recognition tasks that were previously impossible. AI-based computer vision systems are being used across various industries and sectors, such as healthcare, automotive, retail, and entertainment, to name a few. Major technology companies such as Google, Microsoft, and IBM, who are investing heavily in developing AI-based computer vision solutions. Europe and the Asia-Pacific region are also significant markets for AI in Computer Vision, with increasing adoption in various sectors such as automotive, manufacturing, and healthcare.
Technological advancements such as Machine Learning and Big Data to drive the market growth:
There are several driving factors that are fueling the growth and adoption of AI in computer vision. One of the main drivers is the growth of machine learning techniques such as deep learning and neural networks, which have enabled computers to learn from large amounts of data, improving their ability to recognize and classify images accurately in the field of AI in computer vision. Additionally, the availability of big data has been instrumental in developing more accurate and sophisticated computer vision systems, as there is now a vast amount of images and video data available for training models in the field of AI in computer vision. This has led to the development of more accurate and sophisticated computer vision systems in the field of AI in computer vision. Increasing demand for automation across industries is also driving the adoption of computer vision solutions to perform tasks such as quality control, inspection, and surveillance in the field of AI in computer vision. AI-based computer vision systems can perform these tasks faster and more accurately than humans in the field of AI in computer vision. Furthermore, the rising demand for intelligent video analytics for security and surveillance purposes is driving the growth of the AI in computer vision market, as AI-based computer vision systems can analyze video footage in real-time and alert security personnel to potential threats in the field of AI in computer vision. Lastly, growing investment in AI-based technologies from governments and private organizations has led to the development of more sophisticated computer vision systems that are capable of performing complex tasks in the field of AI in computer vision. In summary, the driving factors for AI in computer vision include advancements in machine learning, the availability of big data, the increasing demand for automation, the rising demand for intelligent video analytics, and growing investment in AI-based technologies in the field of AI in computer vision. These factors are expected to continue driving the growth of the AI in computer vision market in the coming years in the field of AI in computer vision.
Segmentation:
By Type:
• Hardware
• Software.
By Application:
• Object Detection
• Image Classification
• Image Segmentation
• Image Restoration
• Object Tracking
• Facial Recognition
By Industry:
• Healthcare
• Automotive
• Retail
• Agriculture
• Manufacturing
• Media and Entertainment
• Others
Geography:
The AI in computer vision market often is a rapidly growing industry, with many regions around the world investing heavily in this technology. As of now, North America dominates the AI in computer vision market, followed by Europe and the Asia-Pacific region. There are several reasons why North America is currently leading the AI in computer vision market. Firstly, North America has always been at the forefront of technological advancements, and this is reflected in the development and adoption of AI in computer vision. The region has a highly skilled workforce and a strong research and development ecosystem, which has helped it to develop cutting-edge AI technologies. Secondly, there is a significant amount of funding available for AI research and development in North America, which has allowed companies and researchers to invest in AI in computer vision and accelerate its development. Thirdly, many companies in North America have already adopted AI in computer vision in various industries, such as healthcare, automotive, and retail, which has helped to drive its growth and adoption in the region. Lastly, the US government has been supportive of AI research and development, with initiatives such as the National Artificial Intelligence Research and Development Strategic Plan, which has helped to drive investment and growth in the industry. However, other regions, such as Europe and Asia-Pacific, are also investing heavily in AI in computer vision and are expected to grow rapidly in the coming years.
Impact of COVID-19 on the global AI in Computer Vision Market:
The AI in computer vision industry has been impacted by the COVID-19 pandemic, with increased demand for medical imaging to diagnose and monitor COVID-19 patients. AI in computer vision has been used to develop remote monitoring systems and e-commerce visual search and recommendation systems. However, reduced investment and delayed implementation due to economic uncertainty have been challenging. Nonetheless, the pandemic has also created opportunities for innovation and growth in the AI in computer vision market, particularly in medical imaging and remote monitoring.
Impact of the Russia-Ukraine War on the global AI in Computer Vision Market:
The conflict between Russia and Ukraine has impacted the AI in computer vision market. It has caused a brain drain in Ukraine, disrupting the availability of skilled talent. Supply chains have also been disrupted, affecting competitiveness, and the war has created economic uncertainty that can delay investment in AI research and development. Additionally, data security and privacy concerns have arisen due to tensions between the two countries. Nevertheless, with technological advancements and increased cooperation, the AI in computer vision market can overcome these challenges and continue to develop.
Competitive Landscape:
• NVIDIA Corporation
• Intel Corporation
• Google LLC
• Microsoft Corporation
• IBM Corporation
• Amazon Web Services, Inc.
• Qualcomm Technologies, Inc.
• Baidu, Inc.
• Apple Inc.
• Facebook, Inc.
• Cognex Corporation
• FLIR Systems, Inc.
• Honeywell International Inc.
• Teledyne Technologies Inc.
• Basler AG
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Case Study- Automotive Sector
One of the key manufacturers of automotive had plans to invest in electric utility vehicles. The electric cars and associated markets being a of evolving nature, the automotive client approached We Market Research for a detailed insight on the market forecasts. The client specifically asked for competitive analysis, regulatory framework, regional prospects studied under the influence of drivers, challenges, opportunities, and pricing in terms of revenue and sales (million units).
Solution
The overall study was executed in three stages, intending to help the client meet its objective of precisely understanding the entire market before deciding on an investment. At first, secondary research was conducted considering political, economic, social, and technological parameters to get a gist of the various aspects of the market. This stage of the study concluded with the derivation of drivers, opportunities, and challenges. It also laid substantial emphasis on understanding and collecting data not only on a global scale but also on the regional and country levels. Data Extraction through Primary Research
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Market Estimates and Forecast
In the final stage of the study, market forecasts for the electric utility were derived using multiple market engineering approaches. This data helped the client to get an overview of the market and accelerate the process of investment.
Case Study- ICT Sector
Business process outsourcing, being one of the lucrative markets from both supply- and demand- side, has appealed to various companies. One of the prominent corporations based out of Japan approached us with their requirements regarding the scope of the procurement outsourcing market for around 50 countries. Additionally, the client also sought key players operating in the market and their revenue breakdown in terms of region and application.
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An exhaustive market study was conducted based on primary and secondary research that involved factors such as labor costs in various countries, skilled and technical labors, manufacturing scenario, and their respective contributions in the global GDP. A comparative study of the market was conducted from both supply- and demand side, with the supply-side comprising of notable companies, such as GEP, Accenture, and others, that provide these services. On the other hand, large manufacturing companies from them demand-side were considered that opt for these services.
Conclusion
The report aided the client in understanding the market trends, including country-level business scenarios, consumer behavior, and trends in 50 countries. The report also provided financial insights of crucial players and detailed market estimations and forecasts till 2033.
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