Press release
Global AI in Computer Vision Market Set to Surge, Valued at USD 17.2 Billion in 2023, Predicts MarketsandMarkets
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Key Segments of the AI in Computer Vision Market:
Component:
• Hardware
• Software
• Services
Vertical:
• Healthcare
• Automotive
• Retail
• Manufacturing
• Agriculture
• Others
Region:
• North America
• Europe
• Asia-Pacific
• Rest of the World
Growth Drivers:
Rapid Advancements in Deep Learning: Deep learning technologies, a subset of artificial intelligence, have witnessed substantial developments, enabling more accurate and complex computer vision applications, such as object recognition and facial recognition.
Surge in Autonomous Vehicles: The growth of autonomous vehicles and advanced driver-assistance systems (ADAS) heavily relies on computer vision AI. These technologies are pivotal in enhancing vehicle safety, navigation, and self-driving capabilities.
Healthcare Imaging and Diagnostics: AI-powered computer vision is revolutionizing medical imaging and diagnostics, providing more accurate and timely insights to healthcare professionals, ultimately improving patient care.
Challenges:
Data Privacy and Security Concerns: The increasing use of AI in computer vision for surveillance, facial recognition, and data analysis has raised concerns about data privacy and security. Addressing these concerns is critical for market expansion.
Lack of Skilled Workforce: The development and deployment of AI in computer vision require a skilled workforce. A shortage of talent in this field could hinder the market's growth potential.
Opportunities:
Retail and E-commerce: AI in computer vision is transforming the retail industry through applications like cashierless stores and personalized shopping experiences. E-commerce companies are also leveraging computer vision for visual search and augmented reality try-on features.
Agricultural Automation: AI in computer vision is being used for precision agriculture, optimizing crop management, and yield prediction. As the world faces increasing food demands, this segment offers immense growth potential.
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Key Players in the AI in Computer Vision Market:
• Intel Corporation
• NVIDIA Corporation
• Qualcomm Technologies, Inc.
• Google LLC
• Microsoft Corporation
• IBM Corporation
• Amazon Web Services, Inc.
• Basler AG
• Omron Corporation
• Cognex Corporation
The AI in Computer Vision market's remarkable growth is fueled by technological advancements, expanding applications, and increased adoption across various industries. It offers vast opportunities for businesses, but they must address challenges related to privacy and the workforce to fully capitalize on this growth.
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Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Email: sales@marketsandmarkets.com
About MarketsandMarkets™
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Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
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