USD 20.7 billion
Artificial Intelligence (AI) in Computer Vision Market Size, Share, Growth Analysis, By Component, Function(Training, Interference), Machine Learning Models, Application(2D Machine Vision, 3D Machine Vision, QA & inspection, Non-industrial), End Use Industry, and Region - Industry Forecast 2024-2031
Report ID:
SQMIG45D2063 |
Region:
Global |
Published Date: June, 2024
Pages:
197
|Tables:
113
|Figures:
77
Artificial Intelligence (AI) in Computer Vision Market Insights
Global Artificial Intelligence (AI) in Computer Vision Market size was valued at USD 20.7 billion in 2022 and is poised to grow from USD 25.8 billion in 2023 to USD 148.8 billion by 2031, growing at a CAGR of 24.5% during the forecast period (2024-2031).
Artificial Intelligence (AI) in computer vision is experiencing rapid growth due to the heavy demand in various industries. In computer vision, artificial intelligence (AI) has become an essential element in the predictive maintenance system, applying CCTV and deep machine learning algorithms in an accurate identification of faults on several systems. Such technology’s importance is highlighted by its extensive application in different industries ranging from consumer products to medical and industrial sector. Following the introduction of image sensors, smart cameras and the deep learning algorithms, the computer vision system is increasing its popularity and the uptake in various industrial domains is driving market growth and innovation.
Based on our analysis, we found the computer vision, which includes image recognition (critical for self-driving cars, for instance), is the most popular functional application of Artificial Intelligence (AI) has 49% of all AI-related patents, while natural language processing has 14% and speech processing has 13% of all AI-related patents. While computer vision, natural language processing and speech processing are the three most important functional applications in terms of the total number of patent filings, others such as robotics and control methods are emerging and growing fast.
In summary, the above number of patents show the growing need of AI in computer vision due to the high demand in various industries. Within the AI in computer vision market healthcare dominates the market at the CAGR 31.2%. AI in computer vision for healthcare has the maximum number of patents as per the latest data.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Software
Fastest Growth
Service
Growth Rate
24.5% CAGR
Artificial Intelligence (AI) in Computer Vision Market ($ Bn)
Country Share for North America Region (%)
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Artificial Intelligence (AI) in Computer Vision Market Segmental Analysis
Global Artificial Intelligence (AI) in Computer Vision Market is segmented by component, function, machine learning models, application, end use industry and region. Based on component, the market is segmented into Software (AI Platform, AI Solution), and Hardware (Processor [CPU, GPU, ASIC, FPGA], Memory, Storage). Based on function, the market is segmented into Training and Inference. Based on machine learning models, the market is segmented into Supervised Learning (Convolutional Neural Networks, Recurrent Neural Networks), Unsupervised Learning, and Reinforcement Learning. Based on application, the market is segmented into Industrial (2D Machine Vision, 3D Machine Vision, Quality Assurance & Inspection), and Non-industrial. Based on end use industry, the market is segmented into automotive (ADAS & infotainment, autonomous & semi-autonomous vehicles), consumer electronics (gaming, cameras, wearables, smartphones), healthcare (radiology, medical imaging), retail, security & surveillance (biometrics, image & video analytics, ai-guided drone-based surveillance), manufacturing, agriculture (crop monitoring, automated irrigation systems), transportation & logistics, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Global Artificial Intelligence (AI) in Computer Vision Market Analysis by Component
In 2023, the software segment emerged as the largest market segment within the AI in computer vision market. The dominance of this segment attributed due the enhanced development in deep learning algorithms and neural networks, the precision and performance of deep vision systems have been greatly enhanced. The broad scope of AI is well covered by deep learning frameworks, image recognition software, video analytics tools, and AI based algorithms. The software part represents the basis for training AI models, performing object detection, image segmentation and face recognition, as well as most of the tasks related to the computer vision.
On the other hand, in 2023, the hardware segment is growing with the CAGR at 19.5% and emerged as the fastest growing segment within the AI in computer vision market. The hardware segment includes processors, memory, and storage solutions which are provided by AI solution providers and technology vendors. As artificial intelligence gets used increasingly in industries, there is a need for these solutions within the various applications to process the work more effectively.
Global Artificial Intelligence (AI) in Computer Vision Market Analysis by End User
The healthcare sector is the largest segment in the Global Artificial Intelligence (AI) in Computer Vision Market being the most diverse application sector with a very important impact in care and diagnostics. An Artificial Intelligence (AI)-powered computer vision technology is nowadays being utilized in medical imaging, disease diagnosis, surgical planning as well as the follow-up on the patient health. Computer vision algorithms can be used to look at medical images like X-rays, MRIs, and CT scans and detect abnormalities, early diagnosis and provide important insights to healthcare personnel. The implementation of AI in health care is attributed to an aspiring need to provide precision, productivity and affordability in medical imaging and diagnosis.
On the other hand, there is the case of automotive which is the fastest growing in the AI in Computer Vision business. The incorporation of AI in vehicles results in a transformation of the automotive sector with the help of computer vision technology. Computer vision systems provide ADAS and self-driving features with their technological capabilities. These systems can analyze real-time visual data from cameras and sensors to detect objects, identify pedestrians, comprehend the traffic signs, and serve as navigation guides for lanes. The automotive world is significantly allocating capital to AI-powered computer vision systems as they improve safety, driving, and even shift driving to autonomy. The development of the automotive segment is driven by the further development of the driver assistance systems, increased focus on traffic safety, and constant improvement of autonomous vehicle technology. Integration of AI into computer vision technology is set to shape the automotive industry and change the notion of how transportation will be in the future.
Artificial Intelligence (AI) in Computer Vision Market By Component
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Artificial Intelligence (AI) in Computer Vision Market Regional Insights
North America dominated the AI in computer vision market in the year 2023. It holds the largest market share in terms of value and is projected to grow at the CAGR of 12.2%. The dominance of this region is mainly attributed due to the adoption of AI based technology in the industrial application. The region has experienced a growth surge in demand from agriculture, educational institutions, and law enforcement departments, hence directing the providers of such solutions and services towards a more successful applicability in this regional forum.
Asia Pacific had a considerable increase in market revenue as compared to the previous years, 2022 and 2023. The region is expected to experience the fastest growth with the CAGR of 19.5% among other regions during the projected period 2024-2031. The dominance of this region is mainly attributed due to the growing economies such as China, Japan and India that have the top adopting rate due to the growing industrial infrastructure, increasing disposable income, and highly investment in R&D activities.
Artificial Intelligence (AI) in Computer Vision Market By Geography
- Largest
- Fastest
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Artificial Intelligence (AI) in Computer Vision Market Dynamics
AI in computer vision Market Drivers
Inception of computer vision technologies need to inspire the AI
- One of the key drivers propelling the growth of the market is the increase in demand for AI in computer vision technologies by various business industries. The computer vision is applied in plant recognition, crop surveillance, and spraying weeds in the agricultural section. Additionally, it is also being used in retailing for check out and traffic counting, manufacturing robotics for auto steering and robotics. The creation and commencement of computer vision technologies should also be the call for action to improve artificial intelligence.
Rise in demand for automation
- Our analysis indicates that the autonomous vehicle market is expected to reach USD 210 billion by 2031. As the autonomous vehicles market is growing on the fast pace, it is also becoming a key driver for the AI in computer vision market, due to highly adoption of these technologies for autonomous vehicles. These vehicles are mostly integrated with computer vision technology which expected to propel the market in the projected period. Computer vision for self-driving cars can identify and differentiate objects, such as pedestrians, vehicles, and road signs within the vehicle's environment. This capability improves reaction times to unforeseen obstacles, reducing the chances of accidents.
Restraints
High cost required for buying and implementing the AI computer vision systems into the production process
- The high cost of acquiring or building AI computer vision solutions is one of the barriers that the market growth is facing. Creation and implementation of AI computer vision models may be expensive, because they often demand special hardware, software and technical background. In the light of getting and introducing AI computer vision systems new organizations are faced with a challenge e.g., costs for hardware, software licenses, and technical support. Furthermore, companies might need to put money into the programs of training and development that develop technical expertise around these systems.
Data Privacy and Security Concerns
- Data privacy and security is a major challenge since AI in computer vision technologies rely on large amount of data which brings issues of data privacy and security. AI-based computer vision technologies may analyze large quantities of personal and often sensitive information, such as facial recognition and conduct tracking. It brings to question privacy rights, consent, and rights of users as well as the misuse of gathered information. Cybersecurity threats and possible data leaks add to these concerns, as unauthorized access to crucial information results in severe privacy and even financial violations. Similarly, data security laws including the GDPR and the CCPA also present as a threat for businesses due to the added difficulty and cost of integration of AI technologies, which may prove prohibitive to companies, particularly small businesses.
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Artificial Intelligence (AI) in Computer Vision Market Competitive Landscape
Global Artificial Intelligence (AI) in Computer Vision has tremendous progress, resulting in disruption in numerous sectors such as healthcare and automotive. The major players such as Google, Microsoft, and NVIDIA have advanced the field with their algorithms and frameworks. On the other hand, startups such as Clarifai and SenseTime have also made significant innovations. Launches, innovations, technology advancements, mergers, and acquisitions, collaborations and partnerships are some of the growth strategies that are adopted by these key players to thrive in the competitive market.
AI in computer vision Market Top Player’s Company Profiles
- Microsoft Corporation (US)
- IBM Corporation (US)
- Intel Corporation (US)
- Google LLC (US)
- Amazon Web Services, Inc. (US)
- NVIDIA Corporation (US)
- Apple Inc. (US)
- Facebook, Inc. (US)
- Qualcomm Incorporated (US)
- Baidu, Inc. (China)
- Alibaba Group Holding Limited (China)
- Tencent Holdings Limited (China)
- Samsung Electronics Co., Ltd. (South Korea)
- Sony Corporation (Japan)
- Huawei Technologies Co., Ltd. (China)
- SenseTime Group Ltd. (China)
- Cognex Corporation (US)
- Honeywell International Inc. (US)
- Texas Instruments Incorporated (US)
- NEC Corporation (Japan)
AI in computer vision Market Recent Developments
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In May 2024, OpenAI announced GPT-4o, its new flagship model that can reason across audio, vision, and text in real time. GPT-4o is a step towards much more natural human-computer interaction and has the capability to accepts as input any combination of text, audio, image, and video and generates any combination of text, audio, and image outputs.
-
In February 2024, Assert AI unveiled its no-code computer vision platform Pratham. This platform is patented for its innovative approach to democratizing computer vision and artificial intelligence. With Pratham, users can unlock the potential of Vision AI technology without the need for coding or AI expertise, marking a significant milestone in the field of computer vision technology.
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In March 2023, Microsoft Corporation announced a renaissance in computer vision AI with Microsoft’s Florence foundation model. Microsoft’s Florence foundation model is trained with billions of text-image pairs and integrated as cost-effective, production-ready computer vision services in Azure Cognitive Service for Vision. The improved Vision Services enables developers to create cutting-edge, market-ready, responsible computer vision applications across various industries.
Artificial Intelligence (AI) in Computer Vision Key Market Trends
- Edge Computing assumes the principal role in determining the trends of future AI in computer vision: Application of edge computing looks to be the future in the computer vision industry, which incorporates AI. Leading companies operating via artificial intelligence that provide computer vision are striving to build smart products using edge computing technology, which will help them battle for market share. Edge computing has been gaining traction as the most significant attribute of computer vision allowing it to move the data analysis site from the center of the network or Cloud to edge. It is the only all-round video and photo analytics solution on the market, and also it is the only one with a full set of both pre-trained and tailored AI models, which is supported by consultancy skills of six Atos AI Computer Vision labs all around the globe that is based on the superior hardware and software. The Atos Computer Vision Platform includes the power of image/visual processing to the edge through the Cloud, thus allowing administration of video analytics both from an edge server and a Cloud.
Artificial Intelligence (AI) in Computer Vision Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global Artificial Intelligence (AI) in Computer Vision Market analysis, one of the remarkable things that AI in Computer Vision has done is to change the operation of many industries, such as healthcare, automotive industry and many others. Integration allows machines to interpret and process visual data with impressive accuracy, speed, and efficiency, such as image recognition, object detection, and even autonomous navigation. The union of AI algorithms with computer vision techniques has not only improved the productivity and decision-making process, but it has also created way for the range of applications such as facial recognition, augmented reality, and surveillance systems. Furthermore, the future is expected to see even more advanced forms of AI where deep learning and neural networks architecture are further improved, which signals a revolutionary wave in computer vision as well as other sectors.
| Report Metric | Details |
|---|---|
| Market size value in Computer | USD 20.7 billion |
| Market size value in 2031 | USD 148.8 billion |
| Growth Rate | 24.5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Artificial Intelligence (AI) in Computer Vision Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Artificial Intelligence (AI) in Computer Vision Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Artificial Intelligence (AI) in Computer Vision Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Artificial Intelligence (AI) in Computer Vision Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Artificial Intelligence (AI) in Computer Vision Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Artificial Intelligence (AI) in Computer Vision Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Artificial Intelligence (AI) in Computer Vision Market Report Snapshots
- Artificial Intelligence (AI) in Computer Vision Companies
- Artificial Intelligence (AI) in Computer Vision Market Size
- Artificial Intelligence (AI) in Computer Vision Market Analysis
- Artificial Intelligence (AI) in Computer Vision Geographic Analysis
- Artificial Intelligence (AI) in Computer Vision Market News
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