AI in Computer Vision Market Size
Market Outlook:
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
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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.
Industry
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 |
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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.
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