AI in Computer Vision Market Insights, Overview, Trends and Forecast To 2032

AI In Computer Vision Market

AI in Computer Vision Market: A Growing Opportunity for Businesses

Computer vision is a rapidly growing field that is being revolutionized by artificial intelligence (AI). AI-powered computer vision solutions are being used in a wide range of industries, from healthcare to manufacturing to retail.

The global AI in computer vision market is expected to grow at a CAGR of 36.0% from 2023 to 2030. This growth is being driven by a number of factors, including the increasing demand for quality inspection and automation, the rising demand for computer vision systems in non-traditional and developing applications, and the adoption of emotion AI.

Market Drivers

There are a number of factors that are driving the growth of the AI in computer vision market. These include:

  • Increasing demand for quality inspection and automation: AI-powered computer vision solutions can be used to automate quality inspection tasks, which can help to improve efficiency and reduce costs. For example, AI-powered computer vision systems can be used to inspect manufactured products for defects, or to monitor food processing plants for food safety violations.
  • Rising demand for computer vision systems in non-traditional and developing applications: AI-powered computer vision solutions are being increasingly used in non-traditional and developing applications. For example, AI-powered computer vision systems are being used to develop self-driving cars, to monitor traffic, and to track wildlife.
  • Adoption of emotion AI: Emotion AI is a new field of AI that is focused on developing computer vision solutions that can recognize and understand human emotions. Emotion AI has the potential to be used in a wide range of applications, such as customer service, healthcare, and marketing.

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Market Segmentation

The global AI in computer vision market is segmented by component, function, application, end-use industry, and region.

  • By component: The market is segmented into hardware, software, and services. The hardware segment is expected to grow at the fastest CAGR during the forecast period. This is due to the increasing demand for high-performance computing systems that can support AI-powered computer vision solutions.
  • By function: The market is segmented into object detection, image classification, facial recognition, and gesture recognition. The object detection segment is expected to be the largest segment during the forecast period. This is due to the increasing demand for object detection solutions in a wide range of applications, such as self-driving cars, security, and retail.
  • By application: The market is segmented into automotive, consumer electronics, healthcare, retail, security & surveillance, and manufacturing. The healthcare segment is expected to grow at the fastest CAGR during the forecast period. This is due to the increasing demand for AI-powered computer vision solutions in applications such as radiography and medical imaging.
  • By end-use industry: The market is segmented into automotive, consumer electronics, healthcare, retail, security & surveillance, and manufacturing. The automotive segment is expected to be the largest segment during the forecast period. This is due to the increasing demand for AI-powered computer vision solutions in self-driving cars and advanced driver assistance systems (ADAS).
  • By region: The market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. North America is expected to be the largest market during the forecast period. This is due to the early adoption of AI-powered technologies in the region.

Market Opportunities

There are a number of opportunities that exist in the AI in computer vision market. These include:

  • The development of new and innovative AI-powered computer vision solutions: There is a growing demand for new and innovative AI-powered computer vision solutions. This is being driven by the increasing demand for automation and efficiency, as well as the growing need for solutions that can solve complex problems.
  • The growth of the Internet of Things (IoT): The growth of the IoT is creating new opportunities for AI-powered computer vision solutions. This is because IoT devices generate a large amount of data that can be used to train AI models.
  • The development of new hardware technologies: The development of new hardware technologies, such as GPUs and TPUs, is making it possible to develop more powerful and efficient AI-powered computer vision solutions.

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About the Author: Hemant Kolhe