USD 12.03 billion
Report ID: SQMIG45D2063 | Region: Global | Published Date: July, 2030 | Pages: 197 | Tables: 59 | Figures: 75
Global AI In Computer Vision Market size was valued at USD 12.03 billion in 2022 and is poised to grow from USD 12.88 billion in 2023 to USD 22.30 billion by 2031, growing at a CAGR of 7.10% in the forecast period (2024-2031)
The Global AI in computer vision Market is experiencing significant growth propelled by the escalating demand for advanced visual recognition technology across various industries. The market witnesses a surge in adoption due to the proliferation of AI-driven solutions aimed at enhancing image and video analysis capabilities for diverse applications such as autonomous vehicles, surveillance systems, healthcare diagnostics, retail analytics, and industrial automation. Key players in the market are continually investing in research and development to innovate and improve the accuracy, speed, and efficiency of computer vision algorithms. Moreover, the integration of AI with computer vision technology enables the development of sophisticated systems capable of recognizing complex patterns, objects, and behaviors with remarkable precision. This integration is driving the emergence of innovative applications including facial recognition systems, object detection, gesture recognition, and augmented reality experiences, thereby expanding the scope and potential of the market. Additionally, the advent of deep learning techniques and neural networks has revolutionized the field of computer vision, enabling the creation of more sophisticated and adaptive systems capable of learning from vast amounts of data. Furthermore, the proliferation of edge computing and advancements in hardware accelerators facilitate the deployment of AI-powered computer vision solutions at the edge, enabling real-time processing and analysis of visual data in distributed environments. As organizations increasingly recognize the transformative potential of AI in computer vision, the market is poised for further expansion, with opportunities for growth in emerging sectors such as robotics, smart cities, and precision agriculture. However, challenges such as data privacy concerns, ethical considerations, and the need for robust regulatory frameworks remain critical factors influencing the market landscape. Overall, the Global AI in computer vision Market presents a dynamic and rapidly evolving ecosystem driven by continuous innovation, technological advancements, and growing demand for intelligent visual recognition solutions across industries.
Global Market Size
USD 12.03 billion
Largest Segment
PC-based
Fastest Growth
PC-based
Growth Rate
7.10% CAGR
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Global AI in computer vision Market is segmented by type, component, and region. Based on type, the market can be segmented into PC-based computer vision systems, and smart camera-based. Based on component, the market is segmented into hardware, and software. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
AI in computer vision Market Analysis by Type
By type, the market can be segmented into PC-based computer vision systems, and smart camera-based. PC-based computer vision systems segment dominated the market with a substantial share of over 52%. These vision systems, specifically designed for image processing, require various peripheral devices to handle tasks such as data transfer, frame grabbing, storage, and lighting. The significant market share can be attributed to the advantages of PC-based systems, including their affordability, upgradability, and ease of replacement. Omron Corporation, a provider of industrial automation solutions, introduced a new PC-based camera system called the FJ2. This system offers advanced features and comes in both color and monochrome versions, with resolutions ranging from 0.4MP to 5MP. With the introduction of the FJ2 cameras, manufacturers can seamlessly integrate computer vision into their existing systems while continuing to utilize their PC resources.
On other hand, the smart camera-based segment expected to be a fastest segment in the market. These vision systems are designed with open-embedded processing technology, eliminating the need for additional peripheral devices like external computers or frame-capture cards. The anticipated growth of this segment can be attributed to its cost-effectiveness, compact size, and the ease with which a smart camera-based computer vision system can be integrated into various applications.
AI in computer vision Market Analysis by Component
By component, the market can be segmented into hardware, and software. the hardware segment took the lead in the market, representing over 72% of the global revenue. This segment encompasses a range of hardware components such as processors, cameras, lenses, frame grabbers, and LED lighting. The significant market share can be attributed to the presence of cutting-edge hardware platforms that offer seamless component interconnection and advanced features, including rapid processing, high-resolution imaging, and comprehensive digital data management.
Software segment will experience the most significant compound annual growth rate (CAGR) throughout the projected period. This segment encompasses a fastest rate of software designed to enhance the performance of computer vision systems in terms of identification and inspection capabilities. The computer vision software performs crucial tasks such as image classification, object detection, object tracking, and content-based image retrieval. However, the software market for computer vision applications may face challenges due to resource and computing power limitations in numerous organizations, impeding their ability to process extensive volumes of visual data.
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North America region dominated the market due to the presence of major tech companies, research institutions, and a highly developed infrastructure. The United States, in particular, leads the market in North America, driven by its advanced capabilities in AI research and development. The country is home to leading technology companies like Google, Microsoft, and IBM, which are actively investing in computer vision technology. Additionally, North America has a strong presence of industries such as healthcare, retail, and automotive, which are leveraging computer vision solutions for various applications.
On the other hand, the APAC region is emerging as a rapidly growing market for AI in computer vision. Countries like China, Japan, South Korea, and India are witnessing significant growth in this sector. China, in particular, is a major player in APAC due to its large population, robust technological advancements, and government initiatives supporting AI development. The country has witnessed substantial investments in computer vision technology, with companies like Baidu, Alibaba, and Tencent leading the way.
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AI in computer vision Market Drivers
Increasing demand for automation and enhanced efficiency across various industries
AI in computer vision Market Restraints
Concern surrounding data privacy and security
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The AI in computer vision market is characterized by a diverse range of companies offering innovative solutions and technologies. Numerous players, both established and emerging, are actively participating in this market, driving competition and fostering advancements. These companies strive to differentiate themselves by focusing on research and development, strategic partnerships, and technological advancements. Additionally, market players aim to expand their market presence by targeting specific industries and addressing unique customer needs. The competitive landscape remains dynamic, with companies constantly striving to gain a competitive edge and capture a larger market share.
AI in computer vision Market Top Player’s Company Profiles
AI in computer vision Market Recent Developments
In January 2024 CGI announced the launch of new computer vision solution, CGI Machine Vision, which uses the power of artificial intelligence (AI) to transform asset and infrastructure monitoring. The solution enables organizations across industries to improve processes, increase efficiencies and reduce costs by generating business intelligence not previously possible through traditional monitoring solutions or human-only inspection.
In December 2023 Centific, a global provider of AI and data services, has announced its partnership with Telaid, a North American technology integrator, to bring transformative AI and computer vision solutions to retail and quick-service restaurant (QSR) environments.
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According to our Global AI in computer vision market analysis, advancements in image sensors, advanced cameras, and deep learning techniques have expanded the scope of computer vision systems. North America leads the market with its well-established infrastructure, while the APAC region is emerging as the fastest-growing market, driven by technological advancements and supportive government initiatives. The demand for automation and efficiency improvement is a major driver for the adoption of AI in computer vision. However, data privacy and security concerns pose a restraint. The competitive landscape is dynamic, with key players constantly innovating and focusing on research and development. Additionally, the trend of edge computing is gaining traction for real-time processing of visual data.
Report Metric | Details |
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Market size value in 2022 | USD 12.03 billion |
Market size value in 2031 | USD 22.30 billion |
Growth Rate | 7.10% |
Base year | 2022 |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global 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 Global 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.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global AI in Computer Vision Market:
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