AI in Computer Vision Market Size, Share, Trends, Growth and Forecast 2032

AI in Computer Vision Market Insights

According to a report from Zion Market Research, the global AI in Computer Vision Market was valued at USD 25.36 Billion in 2023 and is projected to hit USD 157.52 Billion by 2032, with a compound annual growth rate (CAGR) of 22.5% during the forecast period 2024-2032. This report explores market strengths, weakness, opportunities, and threats. It also provides valuable insights into the market's growth drivers, challenges, and the future prospects that may emerge in the AI in Computer Vision industry over the next decade.

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Introduction

Computer vision is a domain of AI that assists the computers to know the visual world. Reportedly, machines can exactly predict and find objects by using digital pictures from cameras, deep learning techniques, and videos.  Apparently, computer vision is massively utilized in navigation procedures such as self-driven vehicles, medical image analysis, and human- machine interaction as well as inspection of manufacturing processes. With evolution of computer vision, programming algorithms were produced for resolving the problems of individuals.

Furthermore, with improvement in deep learning methods & technology and need for programming supercomputers for enhancing business capabilities is likely to result in the massive penetration of computer vision in myriad sectors over the forthcoming years. For the record, firms such as Amazon and Facebook make use of computer vision for enhancing the security.

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Market Growth Drivers

Escalating acceptance of AI in myriad fields and breakthroughs in the technology sector will pave a way for the expansion of AI in computer vision industry over the forecast timeframe. Apart from this, burgeoning need for edge computing in smartphones and efficacy of AI in machine learning will enlarge the scope of AI in computer vision market over the estimated timespan. In addition to this, massive use of computer vision in automotive and healthcare sectors as well as its massive use in image analysis will generate new growth avenues for the business over the forthcoming years.

Moreover, onset of 5G as well as 6G technologies in telecom sector is likely to boost the market trends. Nonetheless, lack of technical knowhow and escalating security issues can pose a threat to the growth of the AI in computer vision industry over the assessment timeline.

AI in Computer Vision Market: Report Scope

North America To Lead Overall Industry Growth Over 2019-2025

The expansion of the market in the sub-continent over the assessment timeframe is attributed to large-scale acceptance of machine vision in automotive and manufacturing sectors. Reportedly, with rising vehicle sales in the U.S. along with rapid developments witnessed in the automotive sector, the market for AI in computer vision is likely to gain traction in the region over the forthcoming years. With ridesharing firms like Lyft aiming at bringing driverless cars to many cities of the U.S. in 2023, the AI in Computer Vision industry is projected to expand by leaps & bounds in the sub-continent over the years ahead.

Some of the key participants profiled in the study are:

• Xilinx
• Alphabet
• Teledyne Technologies
• Intel
• NVIDIA
• MAXST
• Facebook
• Apple
• Avigilon
• Qualcomm
• Microsoft
• Wikitude
• Basler
• Cognex
• General Electric.

The global AI in computer vision market is segmented as follows:

By Component

• Hardware
• Software

By Vertical

• Automotive
• Sports and Entertainment
• Consumer
• Robotics and Machine Vision
• Healthcare
• Security and Surveillance
• Agriculture
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa