Global AI In Computer Vision Market Anticipated To Expand At About 44.96 % CAGR During 2019–2025

28-Dec-2020 | Zion Market Research

As per the researchers at Zion Market Research, the valuation of the global AI in computer vision market is 2018 was around USD 3.24 billion and is anticipated to attain a value of about USD 69.99 billion by 2025, expanding at about 44.96 % CAGR during the forecast period. A few of the prominent players vigorously participating within the global AI in computer vision market consist of Intel, NVIDIA, Apple, Qualcomm, Microsoft, Alphabet, Wikitude, Facebook, Basler, Xilinx, Cognex, Teledyne Technologies, Avigilon, MAXST, and General Electric.

Rising Implementation Of AI In Several Domains Likely To Boost The Global Market Growth

The growth of the global AI in computer vision market is mainly attributed to the rising implementation of artificial intelligence (AI) on account of the improvements in the technologies in a number of business verticals, automotive applications, and forming the environment like medical image analysis. Further, the growing need for edge computing within mobile devices and the efficiency of AI in the machine vision are expected to drive the market expansion during the forecast period. Moreover, the use of the computer vision system in emerging and conventional applications is also projected to propel market growth. Nevertheless, the dearth of technical understanding, inadequate expertise, and security worries associated with cloud-based image processing are few of the reasons anticipated to hinder the market growth.

Global AI In Computer Vision Market

Based On Component, Hardware Segment Projected To Witness Highest Growth Rate

The global AI in computer vision market is bifurcated based on vertical, component, and region. based on component, the market is divided into software and hardware. Among these, the hardware segment is projected to witness a considerable growth rate during the years to come. The expansion can be credited to the rising infiltration of AI-capable processors within mobile devices, like smartphones, automotive, consumer electronics devices, and drones. The market, based on vertical, is categorized into sports & entertainment, automotive, robotics & machine vision, consumer, security & surveillance, agriculture, healthcare, and others. among these, the automotive segment is projected to register substantial growth during the forecast period. To cite, a new architecture of the AI autonomous vehicle platform, NVIDIA DRIVE, was announced by NVIDIA in January 2018 that utilizes diverse and redundant functions to allow vehicles to function safely.

North American Region To Dominate The Global Market During The Forecast Period

Regionally, the AI in computer vision market is anticipated to be ruled by North America during the forecast period on account of the US startups obtaining finances from several organizations to implement the AI technology within self-governing drones and other such flying vehicles. Further, the Asia Pacific market is also anticipated to witness a substantial rate of growth during the forecast period as a result of the expansion in India, which can be credited to the rising spending across domains in setting up data-based businesses and the acknowledgment by the Indian Government to construct effectual rules for AI.

Browse the full “AI In Computer Vision Market - By Vertical (Sports & Entertainment, Automotive, Robotics & Machine Vision, Consumer, Security & Surveillance, Healthcare, Agriculture, And Others), By Component (Software And Hardware), And By Region - Global Industry Perspective, Comprehensive Analysis, And Forecast, 2019 – 2025.” Report at https://www.zionmarketresearch.com/report/ai-in-computer-vision-market

The global AI in computer vision market is segmented as follows:

By Component

  • Hardware
  • Software

By Vertical

  • Automotive
  • Sports and Entertainment
  • Consumer
  • Robotics and Machine Vision
  • Healthcare
  • Security and Surveillance
  • Agriculture
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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