The AI in computer vision market size has grown exponentially in recent years. It will grow from $26.6 billion in 2023 to $34.1 billion in 2024 at a compound annual growth rate (CAGR) of 28.2%. The growth observed in the historic period can be attributed to the increased adoption of Industry 4.0, expanded applications in healthcare, growing significance in the agriculture industry, increased utilization in retail industries, and the overall growth of the IT industry.
The AI in computer vision market size is expected to see exponential growth in the next few years. It will grow to $93.73 billion in 2028 at a compound annual growth rate (CAGR) of 28.8%. The anticipated growth in the forecast period can be attributed to the rising need for quality inspection and automation, government initiatives supporting industrial automation and the integration of artificial intelligence, growing demand for computer vision systems in non-traditional and developing industries, and increasing investments in AI technology. Major trends expected in the forecast period include innovative solutions, technological advancements in AI and computer vision technologies, strategic collaborations, the integration of AI and ML (machine learning), and overall advancements in technology within this domain.
The anticipated growth of the AI in the computer vision market is driven by the increasing demand for computer vision technologies across various business sectors. Computer vision finds applications in agriculture for tasks such as plant detection, crop monitoring, and automatic weeding, as well as in retail for self-checkout and people counting. Additionally, its use in manufacturing extends to autonomous driving and robotics. The AI in the computer vision market responds to the growing need for these technologies, allowing systems to identify objects and enhance their capability to recognize and categorize a diverse range of items. An illustrative example is the 37% increase in robot sales during the third quarter of 2021, totaling over 29,000 units worth $1.48 billion, as reported by the Association for Advancing Automation in December 2021. These figures signify the market's response to the escalating demand for computer vision technologies in diverse sectors.
The surge in demand for automation is another factor expected to drive the growth of the AI in the computer vision market. Automation involves leveraging technology, machinery, or systems to execute tasks with minimal human intervention. AI in computer vision contributes to automation by enabling machines to interpret and respond to visual information, thereby enhancing efficiency and reducing the need for manual intervention. An illustrative statistic from CompTIA, Inc. in January 2023 projects AI expenditure within the retail sector to reach $20.05 billion by 2026, reflecting a compounded annual growth rate of 39% from 2019. The anticipation of 80% of retail executives implementing AI-driven intelligent automation in their companies by 2027 further underscores the rising demand for automation, influencing the AI in the computer vision market.
A key trend gaining popularity in the AI in the computer vision market is the integration of edge computing. Major companies in this market are prioritizing the development of innovative products that incorporate edge computing technology, aiming to enhance their market share. Edge computing is a crucial feature in computer vision, enabling data analysis at the network's edge rather than in centralized data centers or the Cloud. A case in point is Atos SE's launch of the Atos Computer Vision Platform in July 2021. This platform is touted as the world's first fully scalable AI film and image analysis solution, providing extensive video and photo analytics. The platform stands out by offering visual and image processing from the Cloud to the edge, allowing administration either from the Cloud or on an edge server for live video analytics.
Major companies operating in the AI in the computer vision market are also focusing on the development of innovative solutions such as visual prompting technology. Visual prompting technology utilizes visual cues, images, or graphics to provide guidance, instruction, or assistance to users. Landing AI's introduction of 'Visual Prompting Capability' in April 2023 exemplifies this trend. This technology extends the text prompting framework to the domain of computer vision, enabling users to engage in visual conversations for the development of computer vision systems. Users can receive predictions within seconds and promptly label additional areas for enhanced recognition capabilities.
In March 2022, NVIDIA Corporation acquired Excelero for an undisclosed amount. This acquisition contributes to the expansion of block storage capabilities in NVIDIA Corporation's software stack, which encompasses clusters for powerful computing. Excelero is a machine learning, AI, and high-performance software-defined storage supplier, aligning with the AI in computer vision sector.
Major companies operating in the AI in computer vision market report are Apple Inc., Google LLC, Microsoft Corporation, Meta Platforms Inc., Huawei Technologies Co. Ltd., Sony Corporation, Amazon Web Services Inc., General Electric Company, Intel Corporation, International Business Machines Corporation, Qualcomm Technologies Inc., Nvidia Corporation, Baidu Inc., Teledyne Technologies Inc., Xilinx Inc., Unity Software Inc. , iRobot Corporation, SenseTime Group Ltd, Basler AG, Matterport Inc., Orbbec 3D Technology International Inc., ArcSoft Inc., Ultraleap Limited, Clarifai Inc., PerceptIn Inc, Occipital Inc., Irida Labs, Megvii Inc., Deep Vision AI Inc., Xnor.AI Inc.
North America was the largest region in the AI in computer vision market in 2023. Asia-Pacific is expected to be the highest-CAGR region in the forecast period. The regions covered in the AI in computer vision market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the AI in computer vision market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The main components of AI in computer vision are software and hardware. Software consists of instructions, data, or algorithms used to operate machines and perform tasks. Various functions include training and inference with different machine learning models such as supervised learning, unsupervised learning, and reinforcement learning. The applications span across industrial and non-industrial sectors, including automotive, consumer electronics, healthcare, agriculture, transportation and logistics, retail, security and surveillance, manufacturing, and others.
The AI in computer vision market research report is one of a series of new reports that provides AI in computer vision market statistics, including AI in computer vision industry global market size, regional shares, competitors with a AI in computer vision market share, detailed AI in computer vision market segments, market trends and opportunities, and any further data you may need to thrive in the AI in computer vision industry. This AI in computer vision market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The AI in computer vision market consists of revenues earned by entities by providing emotion recognition, face recognition, optical character recognition, image processing, object detection, and video analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI in computer vision market also includes sales of cameras, optics, lighting, frame grabbers, and processors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The AI in computer vision market size is expected to see exponential growth in the next few years. It will grow to $93.73 billion in 2028 at a compound annual growth rate (CAGR) of 28.8%. The anticipated growth in the forecast period can be attributed to the rising need for quality inspection and automation, government initiatives supporting industrial automation and the integration of artificial intelligence, growing demand for computer vision systems in non-traditional and developing industries, and increasing investments in AI technology. Major trends expected in the forecast period include innovative solutions, technological advancements in AI and computer vision technologies, strategic collaborations, the integration of AI and ML (machine learning), and overall advancements in technology within this domain.
The anticipated growth of the AI in the computer vision market is driven by the increasing demand for computer vision technologies across various business sectors. Computer vision finds applications in agriculture for tasks such as plant detection, crop monitoring, and automatic weeding, as well as in retail for self-checkout and people counting. Additionally, its use in manufacturing extends to autonomous driving and robotics. The AI in the computer vision market responds to the growing need for these technologies, allowing systems to identify objects and enhance their capability to recognize and categorize a diverse range of items. An illustrative example is the 37% increase in robot sales during the third quarter of 2021, totaling over 29,000 units worth $1.48 billion, as reported by the Association for Advancing Automation in December 2021. These figures signify the market's response to the escalating demand for computer vision technologies in diverse sectors.
The surge in demand for automation is another factor expected to drive the growth of the AI in the computer vision market. Automation involves leveraging technology, machinery, or systems to execute tasks with minimal human intervention. AI in computer vision contributes to automation by enabling machines to interpret and respond to visual information, thereby enhancing efficiency and reducing the need for manual intervention. An illustrative statistic from CompTIA, Inc. in January 2023 projects AI expenditure within the retail sector to reach $20.05 billion by 2026, reflecting a compounded annual growth rate of 39% from 2019. The anticipation of 80% of retail executives implementing AI-driven intelligent automation in their companies by 2027 further underscores the rising demand for automation, influencing the AI in the computer vision market.
A key trend gaining popularity in the AI in the computer vision market is the integration of edge computing. Major companies in this market are prioritizing the development of innovative products that incorporate edge computing technology, aiming to enhance their market share. Edge computing is a crucial feature in computer vision, enabling data analysis at the network's edge rather than in centralized data centers or the Cloud. A case in point is Atos SE's launch of the Atos Computer Vision Platform in July 2021. This platform is touted as the world's first fully scalable AI film and image analysis solution, providing extensive video and photo analytics. The platform stands out by offering visual and image processing from the Cloud to the edge, allowing administration either from the Cloud or on an edge server for live video analytics.
Major companies operating in the AI in the computer vision market are also focusing on the development of innovative solutions such as visual prompting technology. Visual prompting technology utilizes visual cues, images, or graphics to provide guidance, instruction, or assistance to users. Landing AI's introduction of 'Visual Prompting Capability' in April 2023 exemplifies this trend. This technology extends the text prompting framework to the domain of computer vision, enabling users to engage in visual conversations for the development of computer vision systems. Users can receive predictions within seconds and promptly label additional areas for enhanced recognition capabilities.
In March 2022, NVIDIA Corporation acquired Excelero for an undisclosed amount. This acquisition contributes to the expansion of block storage capabilities in NVIDIA Corporation's software stack, which encompasses clusters for powerful computing. Excelero is a machine learning, AI, and high-performance software-defined storage supplier, aligning with the AI in computer vision sector.
Major companies operating in the AI in computer vision market report are Apple Inc., Google LLC, Microsoft Corporation, Meta Platforms Inc., Huawei Technologies Co. Ltd., Sony Corporation, Amazon Web Services Inc., General Electric Company, Intel Corporation, International Business Machines Corporation, Qualcomm Technologies Inc., Nvidia Corporation, Baidu Inc., Teledyne Technologies Inc., Xilinx Inc., Unity Software Inc. , iRobot Corporation, SenseTime Group Ltd, Basler AG, Matterport Inc., Orbbec 3D Technology International Inc., ArcSoft Inc., Ultraleap Limited, Clarifai Inc., PerceptIn Inc, Occipital Inc., Irida Labs, Megvii Inc., Deep Vision AI Inc., Xnor.AI Inc.
North America was the largest region in the AI in computer vision market in 2023. Asia-Pacific is expected to be the highest-CAGR region in the forecast period. The regions covered in the AI in computer vision market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the AI in computer vision market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The main components of AI in computer vision are software and hardware. Software consists of instructions, data, or algorithms used to operate machines and perform tasks. Various functions include training and inference with different machine learning models such as supervised learning, unsupervised learning, and reinforcement learning. The applications span across industrial and non-industrial sectors, including automotive, consumer electronics, healthcare, agriculture, transportation and logistics, retail, security and surveillance, manufacturing, and others.
The AI in computer vision market research report is one of a series of new reports that provides AI in computer vision market statistics, including AI in computer vision industry global market size, regional shares, competitors with a AI in computer vision market share, detailed AI in computer vision market segments, market trends and opportunities, and any further data you may need to thrive in the AI in computer vision industry. This AI in computer vision market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The AI in computer vision market consists of revenues earned by entities by providing emotion recognition, face recognition, optical character recognition, image processing, object detection, and video analytics. The market value includes the value of related goods sold by the service provider or included within the service offering. The AI in computer vision market also includes sales of cameras, optics, lighting, frame grabbers, and processors. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. AI in Computer Vision Market Characteristics3. AI in Computer Vision Market Trends and Strategies32. Global AI in Computer Vision Market Competitive Benchmarking33. Global AI in Computer Vision Market Competitive Dashboard34. Key Mergers and Acquisitions in the AI in Computer Vision Market
4. AI in Computer Vision Market - Macro Economic Scenario
5. Global AI in Computer Vision Market Size and Growth
6. AI in Computer Vision Market Segmentation
7. AI in Computer Vision Market Regional and Country Analysis
8. Asia-Pacific AI in Computer Vision Market
9. China AI in Computer Vision Market
10. India AI in Computer Vision Market
11. Japan AI in Computer Vision Market
12. Australia AI in Computer Vision Market
13. Indonesia AI in Computer Vision Market
14. South Korea AI in Computer Vision Market
15. Western Europe AI in Computer Vision Market
16. UK AI in Computer Vision Market
17. Germany AI in Computer Vision Market
18. France AI in Computer Vision Market
19. Italy AI in Computer Vision Market
20. Spain AI in Computer Vision Market
21. Eastern Europe AI in Computer Vision Market
22. Russia AI in Computer Vision Market
23. North America AI in Computer Vision Market
24. USA AI in Computer Vision Market
25. Canada AI in Computer Vision Market
26. South America AI in Computer Vision Market
27. Brazil AI in Computer Vision Market
28. Middle East AI in Computer Vision Market
29. Africa AI in Computer Vision Market
30. AI in Computer Vision Market Competitive Landscape and Company Profiles
31. AI in Computer Vision Market Other Major and Innovative Companies
35. AI in Computer Vision Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
AI In Computer Vision Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on ai in computer vision market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you along with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for ai in computer vision? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Component: Software; Hardware
2) By Function: Training; Interference
3) By Machine Learning Model: Supervised Learning; Unsupervised Learning; Reinforcement Learning
4) By Application: Industrial; Non-Industrial
5) By End-user: Automotive; Consumer Electronics; Healthcare; Agriculture; Transportation and Logistics; Retail; Security and Surveillance; Manufacturing; Other End-users
Key Companies Mentioned: Apple Inc.; Google LLC; Microsoft Corporation; Meta Platforms Inc.; Huawei Technologies Co. Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned
- Apple Inc.
- Google LLC
- Microsoft Corporation
- Meta Platforms Inc.
- Huawei Technologies Co. Ltd.
- Sony Corporation
- Amazon Web Services Inc.
- General Electric Company
- Intel Corporation
- International Business Machines Corporation
- Qualcomm Technologies Inc.
- Nvidia Corporation
- Baidu Inc.
- Teledyne Technologies Inc.
- Xilinx Inc.
- Unity Software Inc.
- iRobot Corporation
- SenseTime Group Ltd
- Basler AG
- Matterport Inc.
- Orbbec 3D Technology International Inc.
- ArcSoft Inc.
- Ultraleap Limited
- Clarifai Inc.
- PerceptIn Inc
- Occipital Inc.
- Irida Labs
- Megvii Inc.
- Deep Vision AI Inc.
- Xnor.ai Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 175 |
| Published | February 2024 |
| Forecast Period | 2024 - 2028 |
| Estimated Market Value ( USD | $ 34.1 Billion |
| Forecasted Market Value ( USD | $ 93.73 Billion |
| Compound Annual Growth Rate | 28.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 30 |
