Categories: IT & Communication Technology

AI In Computer Vision Market Growth Trajectory Through 2024-2033|Apple Inc., Google LLC, Microsoft Corporation, Meta Platforms Inc., Huawei Technologies Co. Ltd.

The AI In Computer Vision Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s AI In Computer Vision Global Market Report 2024, 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 in the historic period can be attributed to growth in adoption of industry 4.0, increased applications in healthcare, increased agriculture industry, increased use in retail industries, growth of 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 growth in the forecast period can be attributed to rising need for quality inspection and automation, government initiatives to support industrial automation and the integration of artificial intelligence, growing demand for computer vision systems in non-traditional and developing industries, increasing investments in ai technology. Major trends in the forecast period include innovative solutions, technological advancements in ai and computer vision technologies, strategic collaborations, integration of ai and ml, technological advancements.

The growing need for computer vision technologies in various business sectors is expected to propel the growth of AI in the computer vision market going forward. Computer vision is used in agriculture for plant detection, crop monitoring, and automatic weeding. It is also used in retail for self-checkout and people counting, manufacturing for autonomous driving, and robotics. The growing need for computer vision technologies in various business sectors like manufacturing is driven by AI in the computer vision market, as it is employed to identify objects, allowing them to recognize and categorize a greater variety of things. For instance, in December 2021, according to the Association for Advancing Automation, a US-based automation trade association, robot sales in the 3rd quarter of 2021 brought the overall total of orders for the year to over 29,000 units worth $1.48 billion. These figures show a 37% increase in items sold (up from 21,072) and a 35% rise in price (up from $1.09 billion) during the same period in 2020. Therefore, the growing need for computer vision technologies in various business sectors drives AI in the computer vision market.

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The ai in computer vision market covered in this report is segmented –

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

Integration of edge computing is the key trend gaining popularity in AI in the computer vision market. Major companies operating in the AI in computer vision market are concentrating on creating revolutionary products integrated with edge computing technology to improve their market share. Edge computing has emerged as a critical feature of computer vision, allowing data analysis at the network’s edge instead of in the data center or Cloud. For instance, in July 2021, Atos SE, a France-based information technology company that offers other IT services, launched the Atos Computer Vision Platform. It is the world’s first fully scalable Artificial Intelligence film and image analysis solution. It is the most extensive video and photo analytics solution on the market and the sole one that combines a comprehensive offering with a set of pre-trained and adaptable AI models, enhanced by consultancy skills from six Atos AI Computer Vision labs worldwide and built on superior hardware and software. Atos Computer Vision Platform offers visual and image processing from the Cloud to the edge, which means it can be administered from the Cloud or on an edge server for live video analytics.

The ai in computer vision market report table of contents includes: