Generative AI in Computer Vision Market Report 2024

This Generative AI In Computer Vision market 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 Generative AI in computer vision market size has grown exponentially in recent years. It will grow from $5.66 billion in 2023 to $7.8 billion in 2024 at a compound annual growth rate (CAGR) of 37.7%. The growth observed in the historical period can be attributed to several factors, advancements in deep learning, the development of generative adversarial networks (GANs), increased computational power, access to large-scale datasets, and improvements in training techniques.

The Generative AI in computer vision market size is expected to see exponential growth in the next few years. It will grow to $28.11 billion in 2028 at a compound annual growth rate (CAGR) of 37.8%. The projected growth during the forecast period can be attributed to several factors, increased adoption across various industries, rising demand for synthetic data, advancements in hardware capabilities, greater investment and funding, and improved computational efficiency. Key trends expected in this period include enhanced image and video synthesis, advancements in augmented and virtual reality, innovations in content creation and personalization, data augmentation for training, and improvements in healthcare imaging.

The growing adoption of AI across various industries is expected to drive the expansion of the Generative AI in computer vision market. The increase in AI adoption is attributed to its capacity to automate complex tasks, enhance efficiency and accuracy, and extract actionable insights from large datasets, fostering innovation and competitive advantage. Generative AI in computer vision generates realistic images and visual content by learning patterns from existing data, facilitating applications such as image synthesis, enhancement, and transformation. For example, a January 2024 survey of 8,584 IT professionals conducted by International Business Machines Corporation (IBM), a US-based technology company, found that approximately 42% of organizations with over 1,000 employees had actively integrated AI into their operations. Additionally, 40% were exploring or experimenting with AI, indicating strong interest in the technology. Among early adopters, 59% plan to increase their AI investments, highlighting a trend toward rapid adoption. Thus, the growing use of AI across various sectors is driving the growth of the Generative AI in computer vision market.

Leading companies in the Generative AI computer vision market are focusing on developing innovative solutions, such as advanced data synthesis technologies, to maintain a competitive edge. Advanced Data Synthesis involves generative models creating realistic and high-quality synthetic images or visual data. For instance, in October 2023, Tech Mahindra, an India-based information technology services and consulting firm, introduced Vision amplifAIer, a Generative AI-powered solution designed to act as a smart data scientist for business analysts. This tool is part of Tech Mahindra's TechM amplifAI 0->∞ suite, aimed at enhancing computer vision applications within enterprises. Vision Amplifier streamlines computer vision project workflows by reducing time spent on tasks such as data pre-processing, use case understanding, and model training. It allows a techno-functional workforce to develop computer vision use cases without extensive data science expertise, facilitating the scaling of AI initiatives across organizations. The solution features Generative AI capabilities, enabling users to create synthetic data and repurpose existing models through transfer learning.

In April 2024, Apple Inc., a US-based technology company, acquired Datakalab for an undisclosed amount. This acquisition is a strategic move for Apple, aimed at enhancing its AI capabilities while ensuring user privacy and security, ultimately leading to improved product offerings. Datakalab, based in France, specializes in artificial intelligence (AI) compression and computer vision technology.

Major companies operating in the Generative AI in computer vision market are Apple Inc., Samsung Electronics, Microsoft Corporation, Alibaba Group Holding Limited, Amazon Web Services (AWS) Inc., Siemens AG, Intel Corporation, International Business Machines Corporation, Qualcomm Incorporated, NVIDIA Corporation, Adobe Inc., Baidu Inc., Hikvision, Xilinx Inc., OpenAI, NEC Corporation, Cognex Corporation, Xnor.ai, Clarifai, Vicarious AI, Visenze, Runway AI inc.

North America was the largest region in the Generative AI in computer vision market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the Generative 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 Generative AI in computer vision market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Generative artificial intelligence (AI) in computer vision involves using advanced algorithms to generate new images, improve image quality, and perform tasks such as image synthesis, image-to-image translation, and data augmentation. By learning from extensive visual data, these models can create realistic images or modify existing ones in innovative ways, supporting applications such as realistic photo editing, virtual reality, medical imaging improvements, and generating training data for other AI systems.

Key technologies in generative AI for computer vision include deep learning, generative adversarial networks (GANs), and variational autoencoders (VAEs), among others. Deep learning, a subset of AI, utilizes neural networks to simulate the human brain's structure and function. It involves training models with large datasets to recognize patterns and make decisions. These technologies are applied in areas such as content creation and enhancement, image and video synthesis, image-to-image translation, and style transfer, across various industries including healthcare, automotive, retail, entertainment and media, and manufacturing.

The Generative AI in computer vision market research report is one of a series of new reports that provides Generative AI in computer vision market statistics, including Generative AI in computer vision industry global market size, regional shares, competitors with a Generative AI in computer vision market share, detailed Generative AI in computer vision market segments, market trends and opportunities, and any further data you may need to thrive in the Generative AI in computer vision industry. This Generative 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 Generative AI in computer vision market includes revenues earned by entities by providing services such as image synthesis, image-to-image translation, data augmentation, image editing and enhancement, content generation, and 3D object reconstruction. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

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.


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