Global AI in computer vision Market

Global AI in Computer Vision Market Size, Share, Growth Analysis, By Type(PC-based and Smart Camera-based), By Component(Hardware and software) - Industry Forecast 2023-2030


Report ID: SQMIG45D2063 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 59 | Figures: 75

Global AI in Computer Vision Market Insights

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.

Market snapshot - 2024-2031

Global Market Size

USD 12.03 billion

Largest Segment

PC-based

Fastest Growth

PC-based

Growth Rate

7.10% CAGR

Global AI In Computer Vision Market ($ Bn)
Country Share for North America Region (%)
Global AI In Computer Vision Market By Type ($ Bn)
Global AI In Computer Vision Market By Type(%)

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Global AI in Computer Vision Market Segmental Analysis

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.

Global AI In Computer Vision By Type, 2022 (%)

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Global AI in Computer Vision Market Regional Insights

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.

Global AI In Computer Vision Market By Region, 2024-2031
  • Largest
  • Fastest

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Global AI in Computer Vision Market Dynamics

AI in computer vision Market Drivers

Increasing demand for automation and enhanced efficiency across various industries

  • One significant driver propelling the growth of the AI in computer vision market is the increasing demand for automation and enhanced efficiency across various industries. Organizations are seeking computer vision solutions to automate processes, streamline operations, and improve productivity. The ability of AI-powered computer vision systems to analyze vast amounts of visual data in real-time, detect patterns, and make accurate decisions is revolutionizing industries such as manufacturing, healthcare, retail, and security. This growing need for automation and operational optimization is a key driver fueling the adoption of AI in computer vision technology.

AI in computer vision Market Restraints

Concern surrounding data privacy and security

  • One notable restraint in the AI in computer vision market is the concern surrounding data privacy and security. As computer vision systems rely on vast amounts of data, including visual imagery and personal information, there is an increased risk of data breaches and unauthorized access. Maintaining the privacy and security of sensitive data becomes a challenge, especially in industries such as healthcare and finance. Stricter regulations and the need for robust security measures pose a restraint to the widespread adoption of AI in computer vision, as organizations must address these privacy and security concerns adequately.

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Global AI in Computer Vision Market Competitive Landscape

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

  • Amazon Web Services, Inc. (US)
  • Intel Corporation (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

  • 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.  

Global AI in Computer Vision Key Market Trends

  • One key trend in the AI in computer vision market is the increasing adoption of edge computing for real-time processing and analysis of visual data. Edge computing allows for the processing and interpretation of data closer to the source, reducing latency and improving response times. This trend is driven by the need for fast and efficient computer vision applications in areas with limited connectivity or where real-time decision-making is critical. By leveraging edge computing, organizations can achieve faster insights, enhanced privacy, and reduced dependence on cloud infrastructure, leading to improved overall system performance.

Global 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 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
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
  • Type
    • PC-based and Smart Camera-based
  • Component
    • Hardware and software
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
  • Amazon Web Services, Inc. (US)
  • Intel Corporation (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)
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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 Global 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
  • 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 Global 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
  • 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
  • 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(%)

Methodology

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.

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 Global 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 Global 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.

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FAQs

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 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. 'Microsoft Corporation (US)', 'Google LLC (US)', 'IBM Corporation (US)', 'Amazon Web Services, Inc. (US)', 'Intel Corporation (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)'

One significant driver propelling the growth of the AI in computer vision market is the increasing demand for automation and enhanced efficiency across various industries. Organizations are seeking computer vision solutions to automate processes, streamline operations, and improve productivity. The ability of AI-powered computer vision systems to analyze vast amounts of visual data in real-time, detect patterns, and make accurate decisions is revolutionizing industries such as manufacturing, healthcare, retail, and security. This growing need for automation and operational optimization is a key driver fueling the adoption of AI in computer vision technology.

One key trend in the AI in computer vision market is the increasing adoption of edge computing for real-time processing and analysis of visual data. Edge computing allows for the processing and interpretation of data closer to the source, reducing latency and improving response times. This trend is driven by the need for fast and efficient computer vision applications in areas with limited connectivity or where real-time decision-making is critical. By leveraging edge computing, organizations can achieve faster insights, enhanced privacy, and reduced dependence on cloud infrastructure, leading to improved overall system performance.

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.

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