AI in Computer Vision Market Size & Share, By Component (Hardware, Software), Application (Industrial, Non-industrial), Function (Training, Interference), End-use (Automotive, Healthcare Retail, Security And Surveillance, Robotics And Machines, Consumer Electronics), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

AI in Computer Vision Market was over USD 17.57 Billion in 2023 and is likely to surpass USD 212.31 Billion by end of the year 2032, growing at over 31.9% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 17.57 Billion
• CAGR (2024-2032): 31.9%
• Forecast Year Value (2032): USD 212.31 Billion
• Historical Data Period: 2019-2023
• Largest Region: North America
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

The increasing demand for image and video analysis in various industries such as healthcare, automotive, and retail is driving the growth of the AI in Computer Vision Market. This technology is being used for a wide range of applications including object recognition, facial recognition, and image classification, which is fueling the demand for advanced computer vision solutions.

The growing adoption of AI-based technologies for enhancing security and surveillance systems is also contributing to the growth of the market. With the increasing focus on public safety and security, organizations are investing in AI-powered computer vision solutions to improve monitoring and threat detection capabilities.

The advancements in deep learning algorithms and neural networks are further accelerating the adoption of AI in the Computer Vision Market. These technologies are enabling computers to analyze visual data more efficiently and accurately, leading to improved performance and outcomes in various applications.

Report Scope

Report Coverage	Details
Segments Covered	Component, Application, Function, End-use
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Baummer, Cognex, Intel, KEYENCE CORPORATION, Matterport,, NATIONAL INSTRUMENTS CORP, Omron

Industry Restraints:

The high cost of implementing AI in computer vision solutions is a major restraint for the market. Organizations are facing challenges in investing in expensive hardware and software infrastructure required for deploying AI-based computer vision systems, which is hindering the market growth.

The lack of skilled professionals in the field of AI and computer vision is also a significant restraint for the market. The complexity of AI algorithms and technologies requires specialized knowledge and expertise, which is currently in short supply. This shortage of skilled professionals is posing a challenge for organizations looking to adopt AI in computer vision solutions.

Regional Forecast:

North America:

The AI in Computer Vision market in North America is driven by the presence of major tech companies, research institutions, and a strong focus on technological innovation. The United States, in particular, is a key player in this market, with companies such as Google, Microsoft, and IBM leading the way in developing AI-powered computer vision solutions. Canada also contributes to the market with its growing tech sector and investments in AI research and development.

Asia Pacific:

In Asia Pacific, countries such as China, Japan, and South Korea are leading the way in the AI in Computer Vision market. China, in particular, is a key player with its vast market potential and government support for AI development. Japan is known for its advanced robotics and automation technology, which translates well into computer vision applications. South Korea is also a significant player, with companies like Samsung investing heavily in AI research and development.

Europe:

In Europe, the United Kingdom, Germany, and France are at the forefront of the AI in Computer Vision market. The UK has a strong tech sector and vibrant startup ecosystem, making it a key player in the market. Germany, known for its engineering prowess, has a strong presence in the automotive and manufacturing industries, which are key sectors for computer vision applications. France is also a significant player, with a focus on AI research and development in areas such as healthcare and transportation.

Segmentation Analysis:

In terms of segmentation, the global AI in Computer Vision market is analyzed on the basis of Component, Application, Function, End-use.

AI in Computer Vision Market Analysis

Component: Hardware, Software

In the AI in Computer Vision market, the component segment is divided into hardware and software. Hardware components include processors, cameras, and memory units that are essential in processing visual data. On the other hand, software components include various algorithms and software tools that enable image recognition and analysis. The demand for hardware components is driven by the need for high processing power and advanced imaging capabilities, while software components play a crucial role in enhancing the accuracy and efficiency of computer vision applications.

Application: Industrial, Non-industrial

The application segment of AI in Computer Vision market is categorized into industrial and non-industrial applications. Industrial applications include manufacturing, quality control, and automation, where computer vision technologies are used to optimize production processes and enhance product quality. Non-industrial applications, on the other hand, include healthcare, retail, security and surveillance, and consumer electronics, where computer vision is utilized for tasks such as medical imaging, object detection, and facial recognition.

Function: Training, Interference

The function segment of AI in Computer Vision market comprises training and interference functionalities. Training involves the process of feeding large amounts of image data to machine learning algorithms to enable them to learn patterns and recognize objects. Interference, on the other hand, involves applying the trained model to new images or videos to make predictions and decisions. Both training and interference functions are essential in the development and deployment of computer vision applications across various industries.

End-use: Automotive, Healthcare Retail, Security And Surveillance, Robotics And Machines, Consumer Electronics

The end-use segment of AI in Computer Vision market covers a wide range of industries, including automotive, healthcare, retail, security and surveillance, robotics and machines, and consumer electronics. In the automotive sector, computer vision technologies are used for autonomous driving, driver monitoring, and traffic management systems. In healthcare, computer vision is applied to medical imaging, disease diagnosis, and patient monitoring. Retailers use computer vision for inventory management, customer analytics, and personalized shopping experiences. Security and surveillance applications include facial recognition, object tracking, and anomaly detection. In robotics and machines, computer vision technologies enable robots to perceive and interact with the environment. Lastly, consumer electronics utilize computer vision for augmented reality, gesture recognition, and image enhancement features.

Competitive Landscape:

The AI in Computer Vision Market is characterized by rapid advancements and a high level of competition among various players focused on delivering innovative solutions. The market landscape is marked by significant investments in research and development, as well as strategic partnerships and acquisitions to enhance technological capabilities. Leading companies are leveraging machine learning algorithms and deep learning techniques to improve image and video analysis, which drives demand across several sectors such as healthcare, automotive, retail, and security. The growing need for automation and intelligent systems further intensifies competition, prompting companies to differentiate their offerings through enhanced performance, cost-effectiveness, and scalability.

Top Market Players

- Google Cloud

- Microsoft Azure

- NVIDIA Corporation

- Amazon Web Services

- IBM Corporation

- Intel Corporation

- Qualcomm Technologies

- SenseTime Group

- OpenCV

- Clarifai