Press release
AI In Computer Vision Market is Expected to Reach USD 27 Billion at a Healthy CAGR of 45% by 2027 - Report by Market Research Future (MRFR)
The AI In Computer Vision Market was worth USD 7.99 billion in 2021 and is expected to be worth USD 27 billion by 2027 by growing at a 45% CAGR from 2020 to 2027.
AI-enabled computer vision systems are gaining popularity in many new applications, including unmanned aerial vehicles, missile guidance, and autonomous vehicles. AI in computer vision solutions is expected to have significant growth potential in consumer electronics, security, and surveillance areas. Computer vision is widely used in various industries, from energy and utilities to manufacturing and automotive, and the market is expanding. Real-world applications demonstrate the significance of computer vision technology in business, entertainment, transportation, healthcare, and daily life.
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Furthermore, computer vision systems are becoming more popular in non-traditional and developing applications, fueling the market growth. Computer vision systems are used in various industries for inspection, identification, measuring, and product location. Apart from these, all AI-enabled vision systems can create new ones, such as 3D model creation, retail, medical imaging, optical character recognition, automotive safety, surveillance, and traffic monitoring, morphing, and augmented reality. Vision systems and software are being developed for new applications such as healthcare, traffic management, security and surveillance, postal and logistics, and document processing. Established players are expected to benefit from developing application-specific AI-enabled computer vision systems in-house in the future.
AI In Computer Vision Market Segmentation:
The global AI in computer vision market is segmented into the offering, machine learning model, end user, and applications.
By Offering:
Software
Hardware
By Machine Learning Model:
Unsupervised Learning
Supervised Learning
Reinforcement Learning
By Application:
Industrial
Non-industrial
By End-use industry
Consumer Electronics
Automotive
Healthcare
Security & Surveillance
Retail
Manufacturing
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AI In Computer Vision Regional Analysis:
The trends in AI in computer vision market are examined by region, including Asia-Pacific (China, Japan, India, South Korea, and the rest of Asia-Pacific), North America (the United States, Canada, and Mexico), Europe (the United Kingdom, Germany, France, Italy, and the rest of Europe) and LAMEA (Latin America, Middle East, and Africa). Because of the increased adoption of AI in emotion analysis and the integration of artificial intelligence with computer vision, North America is dominating the market. The AI in the computer vision market in APAC is expected to grow at the fastest CAGR. Japan, South Korea and Japan are expected to be the largest contributors to the APAC market. Increased manufacturing operations primarily contribute to China's economic development while rising demand for incorporation.
Recent developments:
NVIDIA unveiled the NVIDIA DRIVE Atlan in April 2021, a next-generation AI-enabled processor for autonomous vehicles capable of performing over 1,000 trillion operations per second. The NVIDIA DRIVE Atlan system-on-a-chip combines AI and software with the most recent advances in computing, networking, and security for unprecedented performance and security and is the latest addition to the centralised compute roadmap for autonomous vehicles in NVIDIA.
In April 2021, NVIDIA will launch a new type of NVIDIA-Certified System, delivering AI to enterprises that run their applications on industry-standard corporate data centre infrastructure. This new class of enterprise servers includes high-volume enterprise servers from leading manufacturers exclusively certified for VMware vSphere 7, the world's most widely used compute virtualisation technology. They can run the NVIDIA AI Enterprise software suite.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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