AI In Computer Vision Market by Hardware, Software, Function, Application, End-use Industry and Regional Competitive Landscape

"Growing impact of AI in machine vision."

The global AI in computer vision market is expected to be valued at USD 17.2 billion in 2023 and is projected to reach USD 45.7 billion by 2028 at a CAGR of 21.5% from 2023 to 2028. The advancement in 3D acquisition systems and the computing power of smart devices/laptops have helped solve identification tasks by fitting a deformable 3D model to 2D images. Facial recognition technology uses deep learning models to detect, normalize, validate, match, and identify faces. AI models are trained with millions of facial images, and depending on the use case, they are designed to generate mathematical representations of a human face (embeddings). These embeddings can be stored and referenced by other models to infer identity.

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"AI Solution: The largest growing software segment for AI in computer vision market"

Recently, most developments have been witnessed in AI solutions and related software development kits. AI solutions are created using nonprocedural languages such as LISP and PROLOG. These languages allow systems to learn and modify responses according to the environment. Depending on the application, a fast CPU, high-capacity RAM, large storage capacity, a graphics card, and a few specialized input and output devices are required to install AI software. Companies are trying to provide AI solutions to reduce the volume and complexity of data in various verticals. Digitalizing healthcare and combining the power of artificial intelligence can help healthcare providers remain competitive despite the shortage of skilled staff and continuous increase in the volumes of imaging scans. For instance, AI solutions by Siemens Healthineers (Germany) are helpful in clinical processes. During the scan preparation, AI assists in the form of an intelligent and automated workflow in CT scans to generate reliable and consistent images while reducing unwanted variations.

"Consumer Electronics: Largest end-use industry of AI in computer vision market"

The consumer electronics vertical includes cameras, gaming devices, wearables, and smartphones. The addition of AI capabilities to smartphones will help change two main aspects: user-machine interaction and context-personalized openness. User-machine interaction will improve the efficiency between the users and their phones across text, voice, image, video, and sensors. In contrast, context-personalized openness will actively provide services and aggregated information across apps, content, third-party, and native features. Amazon Web Services (US) has launched an AI-powered camera called DeepLens for developing and deploying machine learning algorithms and services for AI-powered transcription and translation. DeepLens includes applications such as optical character recognition and image and object recognition, which would help test and develop new vision-based AI functionalities efficiently and quickly.

Artificial Intelligence (AI) has made remarkable strides in computer vision, a field focused on enabling machines to interpret and understand visual information. The future of AI in computer vision holds tremendous promise in transforming industries and revolutionizing the way we interact with the world.

One of the key areas where AI will shape the future of computer vision is in autonomous systems. AI-powered cameras and sensors will enable self-driving cars, drones, and robots to navigate complex environments with greater accuracy and safety. This advancement is set to revolutionize transportation, logistics, and industrial automation, unlocking new levels of efficiency and productivity.

Moreover, AI-driven computer vision will find applications in healthcare. Medical imaging technologies, such as X-rays, MRIs, and CT scans, will benefit from AI's ability to analyze and detect anomalies in medical images, facilitating early and more accurate diagnoses. This can lead to better patient outcomes and improved healthcare delivery.

In the retail and e-commerce sectors, AI in computer vision will enhance customer experiences. Virtual try-ons, personalized recommendations, and cashier-less stores are some examples of how AI-powered visual recognition will reshape the shopping landscape, making it more convenient and engaging for consumers.

Furthermore, AI's ability to understand human emotions and gestures through computer vision will have implications for human-computer interaction. This development can lead to more intuitive user interfaces, immersive virtual reality experiences, and enhanced communication between humans and machines.

However, the future of AI in computer vision also poses challenges, including ethical considerations related to privacy, bias, and transparency. Striking a balance between the advantages of AI-driven computer vision and protecting user data and rights will be crucial for responsible AI adoption.

In conclusion, the future of AI in computer vision is set to redefine industries and augment human capabilities. From autonomous systems and healthcare to retail and human-computer interaction, AI-powered computer vision will empower innovation and revolutionize the way we perceive and interact with the world around us. By addressing ethical concerns and leveraging AI's potential responsibly, we can harness the transformative power of computer vision for the betterment of society.

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