Market Research Future (MRFR) observes that the AI in Computer Vision Market is slated to secure USD 2,68,364.8 million while developing at a 36.0% CAGR in the review period from 2023 to 2032.
Market Scenario:
The hardware segment is flourishing incredibly, due to the increased focus on research and development. Increasing demand for computer vision applications such as autonomous vehicles, robotics and others also significantly helps the market. As a consequence, the automotive segment is projected to expand with the highest CAGR while sports and entertainment are expected to further motivate market growth. The processors' enhanced computing capabilities pave the way for AI's potential growth in the computer vision market. The growing demand for computer vision in applications such as autonomous vehicles, robotics, and so on is expected to broaden the reach of applications of the market. It is anticipated that the enhanced processor computing capabilities will provide more impetus to the growth of product types in the computer vision market in AI. In addition, the advances in AI and machine learning technologies are projected to transform the growth of the market during the forecast period.
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The AI in computer vision market is expected to face some developmental challenges related to the complex AI algorithms that are needed to effectively achieve computer vision. Because the development of specific algorithms requires a specific knowledge of a certain business, the number of people eligible to do that is currently also limited. Developments are expected to bolster the demand for machine learning and AI technologies in the assessment period.
Competitive Dynamics
Allied Vision Technologies GmbH (Germany), Google LLC (US), Intel Corporation (US), Basler AG (Germany), NVIDIA Corporation (US), Microsoft Corporation (US), Facebook (US), Apple Inc. (US), Qualcomm Technologies, Inc. (US), and COGNEX Corporation (US) are the foremost companies in the market of AI in computer vision.
AI in Computer Vision Market Segmentation:
The segmentation of the market for AI in computer vision is to be considered as per the component, function, end-use, application, and geography to name some. The trend is likely to face decent growth in the forecast timeline.
As per the Application:
As per the application, the market is categorized into the non-industrial and industrial sectors.
As per the End-users:
As per the End-users, the market is categorized into:
- Manufacturing
- Healthcare
- Automotive
- Agricultural
- Consumer Electronics
- Logistics
- Transportation
- Retail
- Security & Surveillance
Regional Analysis:
As per the study that has been made so far on the AI in computer vision, it has been found that the industry is likely to be examined all across different regions which are Europe, North America, LAMEA and Asia pacific to name some. North America has been dominating the industry dye to the increase in the use of the AI in the emotion recognition and also the blend of the AI and computer vision techniques.
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