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Global AI in Computer Vision Market Poised for Explosive Growth, Projected to Reach USD 45.7 Billion by 2028, Reports MarketsandMarkets
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Key Segments:
The AI in computer vision market is segmented into key categories, providing a comprehensive view of the industry landscape:
Component: Segmentation based on components includes hardware, software, and services, reflecting the integral elements that constitute AI in computer vision solutions.
Vertical: The market is categorized by verticals, including healthcare, automotive, retail, industrial, and others, showcasing the wide-ranging applications of AI in computer vision across industries.
Deployment Mode: Segmentation by deployment mode encompasses on-premises and cloud-based solutions, addressing different preferences and requirements of businesses.
Growth Drivers:
The market's significant growth is driven by several key factors:
Advancements in Machine Learning and Deep Learning: Ongoing advancements in machine learning and deep learning technologies are empowering AI in computer vision systems to provide more accurate and sophisticated solutions.
Increasing Adoption in Healthcare and Automotive Industries: The adoption of AI in computer vision is growing rapidly in healthcare for diagnostics and treatment, as well as in the automotive sector for applications like autonomous vehicles.
Rising Demand for Automation and Efficiency: The increasing demand for automation and efficiency across industries is propelling the integration of AI in computer vision systems for tasks such as quality control, surveillance, and image recognition.
Challenges:
While the market experiences robust growth, it faces certain challenges:
Data Privacy and Security Concerns: The use of AI in computer vision often involves processing sensitive visual data, leading to concerns about data privacy and security.
Lack of Skilled Workforce: The shortage of skilled professionals with expertise in both AI and computer vision poses a challenge for businesses looking to implement these technologies.
Opportunities:
The market presents numerous opportunities for growth:
Expansion in Emerging Markets: The increasing awareness and adoption of AI in computer vision in emerging markets offer significant growth opportunities for businesses.
Integration with IoT and Edge Computing: The integration of AI in computer vision with Internet of Things (IoT) and edge computing technologies presents opportunities for creating more intelligent and responsive systems.
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Key Players:
Prominent players shaping the AI in computer vision market include:
• NVIDIA Corporation
• Intel Corporation
• IBM Corporation
• Microsoft Corporation
• Qualcomm Technologies, Inc.
These key players are strategically focusing on technological innovation, partnerships, and collaborations to maintain their competitive edge in the dynamic AI in computer vision market.
In conclusion, the global AI in computer vision market is poised for explosive growth, driven by advancements in technology and the increasing adoption of AI-driven solutions across industries. Industry stakeholders are encouraged to capitalize on emerging opportunities and address challenges to establish a sustainable and competitive presence in this rapidly evolving market.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
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.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
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