AI In Computer Vision Industry Size, Share, Competitive Analysis, Upcoming Opportunities and Forecast To 2027 | Coronavirus Effects
Market Highlights
Artificial intelligence (AI) in computer vision is a
branch of AI in which computer processes and analyzes conditions and delivering
the final digital image. Rapid development in technology and demands for
next-generation technologies empowered by AI are among the major factors for
the non-stop growth of this market. This technology is extensively used in the
automotive sector for navigation, and the global growth of this industry has
provided necessary growth to this global market.
A boom in the increasing demand for computer vision
applications such as autonomous cars, robotics has masked revenue hike in the
AI in computer vision market. On this, Market Research Future published a
report that reveals that the market takes a hit sets itself active to gain a
valuation of USD 27 billion, while at 45% CAGR during the years 2017 to
2023—the forecast period. The market has promising vision to rise high and
achieve a decade long success in the growth period.
Market Drivers and
Key Challenges
Computer vision is a part of automation and computer
science that includes machine vision and develops methods for creating systems
that take information from images. Computer vision is used in controlling
processes of industrial robots, navigating autonomous vehicles, organizing
information, detecting events, automatic inspection in manufacturing processes,
and Human-computer interactions as well as medical image analysis. In fact,
computer vision is closely linked with artificial intelligence, as it provides
a human vision to a computer. However, a major part of artificial intelligence,
mainly its advancements, has eventually fueled the growth of the computer
vision market in recent years.
The market, as per the study, is also substantially aided
by the factor of rising demand for computer vision applications such as
robotics, autonomous cars, and more. As a result, the expansion of the
automotive industry has projected the market of AI in computer vision to
inflate at the highest CAGR during the forecast period. On focusing more,
factors such as developing demand for mobile edge computing, rising adoption of
artificial intelligence in various business verticals, video and image analysis
applications, usage of electronic devices equipped with virtual and augmented
reality equipment have contributed to the growth of the AI in Computer Vision
Market worldwide in a considerable way.
On the contrary, there are some possibilities where AI in
the computer vision market might have to face a few challenges related to the
complex AI algorithms that are required to achieve computer vision effectively.
Thus, the lack of technical expertise and concern in this matter could restrain
opportunities of global AI in Computer Vision Market to a certain extent.
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Segmentation:
The global AI in computer vision market is an immense
field and is divided as follows:
The global AI in computer vision market is characterized
as hardware and software in view of components.
The global AI in computer vision market is characterized
by healthcare, consumer electronics, automotive, sports, security &
surveillance, and others, in view of vertical.
Regional Outlook
The regional study of the AI in the computer vision
market includes the main regions of Europe, North America Asia Pacific, and the
rest of the world.
The North American region would lead the computer vision
market globally, as the contribution usually comes from countries such as the
U.S. The region has the possibility to uphold its position throughout the
forecast period due to factors of growing demand from the gaming industry and
the enthusiastic global IT leaders.
The Asia Pacific region would also grow notably, showing
high growth aspects in the AI in the computer vision market. The enhanced
growth of the regional economy and the rise of start-ups have fortified a
strong demand for AI in computer vision products, which is the main reason for
market inflating. The nations with increasing disposable incomes such as Japan,
China, and India are highly responsible for the considerable share of the Asia
Pacific region. Apart from this, the growth of the region is also being
motivated by emerging factors of evolving AI talent to inspire the application
of computer vision technology as well as the growing demand from the end-user
segments.
Market Key Players
The global market for AI in computer vision market is
thriving on the profits made by several companies like Google LLC (US),
Qualcomm Technologies, Inc. (US), Basler AG (Germany), NVIDIA Corporation (US),
Allied Vision Technologies GmbH (Germany), Microsoft Corporation (US), Facebook
(US), Apple Inc. (US), Intel Corporation (US), and COGNEX Corporation (US).
Browse Complete Report @ https://www.marketresearchfuture.com/reports/ai-in-computer-vision-market-6672
AI
In Computer Vision Market Research Report by Component (Hardware, Software),
Vertical (healthcare, security, automotive, agriculture, sports &
entertainment, and others), and Region–Global Forecast to 2023
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