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AI in Computer Vision Market Key Players Analysis- MediaTek, Microsoft, National Instruments, NVIDIA, Omron,Qualcomm.
AI in Computer Vision Market
According to the latest research by InsightAce Analytic, the AI in Computer Vision Market is valued at US$ 21.9 Bn in 2023, and it is expected to reach US$ 148.5 Bn by 2031, with a CAGR of 27.5% during the forecast period of 2024-2031.
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Artificial intelligence (AI) in computer vision enables systems and networks to extract valuable insights from digital images, videos, and other sensory data, facilitating responsive interaction with this information. AI and neural network technologies play a pivotal role in advancing computer vision capabilities. AI algorithms and processes can rapidly process, interpret, and learn from large volumes of annotated and raw visual data, allowing systems to recognize various patterns, features, and relationships within images, videos, and statistical data. Additionally, the integration of high-quality imaging devices with AI and Internet of Things (IoT) technology enables real-time, detailed data analysis and more informed decision-making. The industry's growth is being driven by increased investment in AI research and development, alongside a heightened emphasis on data-driven insights. Consequently, AI in computer vision is becoming a fundamental component of modern technological infrastructure.
List of Significant Players in the AI in Computer Vision Market:
• Alphabet Inc.
• Advanced Micro Devices, Inc. (commonly known as AMD)
• Amazon Web Services, Inc.
• Apple Inc.
• Baumer Optronic GmbH
• Basler AG
• Baidu, Inc.
• Cognex Corporation
• CEVA, Inc.
• Meta Platforms, Inc. (formerly Facebook, Inc.)
• General Electric Company
• Honeywell International Inc.
• Huawei Technologies Co., Ltd.
• International Business Machines Corporation (commonly known as IBM)
• Intel Corporation
• JAI A/S
• KEYENCE Corporation
• Matterport, Inc.
• MediaTek Inc.
• Microsoft Corporation
• NI (National Instruments Corporation)
• NVIDIA Corporation
• Omron Corporation
• Qualcomm Incorporated
• Samsung Electronics Co., Ltd.
• SenseTime Group Limited
• Sony Group Corporation
• Teledyne Technologies Incorporated
• Texas Instruments Incorporated
• Tencent Holdings Limited
• Other Market Players
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Market Dynamics
Drivers:
The increasing demand for AI in computer vision is primarily driven by the growing need for automation. Automation refers to the use of technology, equipment, or software to execute operations or processes with minimal human intervention. AI in computer vision enhances operational efficiency and reduces the need for manual input by enabling machines to interpret and respond to visual data. Consequently, the rising demand for automated solutions is a key factor propelling the adoption of AI in computer vision.
Challenges:
A significant challenge to the growth of the AI in computer vision market is the high cost associated with the development and deployment of these technologies. Implementing AI computer vision systems often requires specialized hardware, software, and technical expertise, making it costly for businesses, especially those with limited familiarity with the technology. Expenses related to software licensing, equipment procurement, and ongoing maintenance can pose financial barriers. Furthermore, businesses may need to invest in training and development programs to enhance their technical proficiency with AI-based systems. As a result, the high costs of devices, software, and skilled labor present a substantial barrier to widespread adoption, particularly for small and medium-sized enterprises (SMEs).
Regional Trends:
The AI in computer vision market in the Asia-Pacific region is expected to secure a significant revenue share and register a high compound annual growth rate (CAGR) in the coming years. This growth is attributed to the increasing demand for advanced automation solutions and rising investment in research and development to foster technological innovation. Additionally, the expanding use of AI-based solutions in the medical sector is contributing to increased market demand in the region. Meanwhile, Europe has maintained a notable market share, supported by ongoing technological advancements. Moreover, the European energy sector is witnessing opportunities for AI expansion, driven by favorable government regulations and policies.
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Recent Developments:
• In June 2024, NVIDIA Research Demonstrated Progress in Visual Generative AI at CVPR. NVIDIA Research will present over 50 papers, including AI software with potential applications in creative sectors, autonomous vehicle development, healthcare, and robotics.
Segmentation of AI in Computer Vision Market-
By Component-
• Hardware
• Software
By Function-
• Training
• Interference
By Machine Learning Models-
• Supervised Learning
• Unsupervised Learning
By Deployment-
• Cloud-Based
• On-Premises
By Areas of Application-
• Facial Recognition
• Image Classification
• Object Detection
• Object Tracking
• Others
By Product-
• PC-Based Computer Vision System
• Smart Camera-Based Computer Vision System
By End Users-
• Automotive
• Consumer Electronics
• Healthcare
• Manufacturing
• Retail
• Security & Surveillance
• Sports & Entertainment
• Others
By Company Size-
• Large Enterprises
• Small and Medium Enterprises
By Business Model-
• B2B
• B2C
• B2B2C
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of the Middle East and Africa
About Us:
InsightAce Analytic is a market research and consulting firm that enables clients to make strategic decisions. Our qualitative and quantitative market intelligence solutions inform the need for market and competitive intelligence to expand businesses. We help clients gain competitive advantage by identifying untapped markets, exploring new and competing technologies, segmenting potential markets and repositioning products. Our expertise is in providing syndicated and custom market intelligence reports with an in-depth analysis with key market insights in a timely and cost-effective manner.
Contact us:
InsightAce Analytic Pvt. Ltd.
Visit: www.insightaceanalytic.com
Tel : +1 551 226 6109
Asia: +91 79 72967118
info@insightaceanalytic.com
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