The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

• A Phenomenal Growth Rate: The AI in computer vision market is on an upward trajectory, poised to skyrocket from $20.71 billion in 2022 to an impressive $26.60 billion in 2023, driven by a remarkable Compound Annual Growth Rate (CAGR) of 28.4%. And the future holds even greater promise, with projections indicating a market size of $72.14 billion by 2027, sporting a CAGR of 28.3%.

The Catalyst: Computer Vision in Diverse Sectors

The driving force behind this market’s exceptional growth is the burgeoning demand for computer vision technologies across various business sectors. Computer vision is a game-changer, contributing to agriculture, retail, manufacturing, robotics, and more. It empowers industries to identify objects, expanding their capabilities to recognize and categorize a wider array of items.

• Agriculture: In the agricultural sector, computer vision technologies play a pivotal role in plant detection, crop monitoring, and automatic weeding, revolutionizing farming practices.

• Retail: The retail industry benefits from computer vision by enabling self-checkout systems and precise people counting.

• Manufacturing: In manufacturing, computer vision facilitates autonomous driving and enhances robotics with improved object recognition.

• A Surging Market: This surge is evident in the data from the Association for Advancing Automation, which reported a remarkable increase in robot sales during the third quarter of 2021. The total orders for the year exceeded 29,000 units worth $1.48 billion, reflecting a 37% growth in items sold and a 35% rise in prices compared to the same period in 2020.

The Leaders of the AI Revolution

Major players are driving this AI revolution, including tech giants such as Apple Inc., Google LLC, Microsoft Corporation, and others. These companies are not just leading the market; they are shaping its future.

A New Horizon: Integration of Edge Computing

• A Transformative Trend: Edge computing integration is at the forefront of AI in the computer vision market. Leading companies are creating revolutionary products that leverage edge computing technology to enhance their market presence.
• Empowering Computer Vision: Edge computing empowers computer vision by enabling data analysis at the network’s edge, offering real-time insights and faster decision-making, without relying solely on distant data centers or the cloud.
• Innovative Solutions: A case in point is Atos SE, a France-based information technology company, which launched the Atos Computer Vision Platform in July 2021. It is the world’s first scalable artificial intelligence film and image analysis solution that combines an extensive set of pre-trained and adaptable AI models with consultancy expertise, allowing for live video analytics both in the cloud and on edge servers.

Global Influence: Asia-Pacific’s Ascent

While North America led the AI in computer vision market in 2022, the Asia-Pacific region is expected to witness the highest Compound Annual Growth Rate (CAGR) in the coming years, underscoring the global impact of AI in computer vision.

Market Dynamics: Exploring the Nuances

The AI in computer vision market offers a range of choices, including components (software and hardware), functions (training and interference), machine learning models (supervised, unsupervised, reinforcement), applications (industrial and non-industrial), and end-users (automotive, consumer electronics, healthcare, agriculture, transportation and logistics, retail, security and surveillance, manufacturing, and more).

• Comprehensive Segmentation: The market segmentation includes components, functions, machine learning models, applications, and end-users, offering a diverse array of solutions for an array of needs.

The AI in computer vision market is not merely growing; it’s transforming industries and influencing how we perceive and interact with the world. Explore how these advancements are creating a smarter and more efficient future, as the realms of artificial intelligence and computer vision continue to converge.

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The AI In Computer Vision Global Market Report 2023  provides an overview of the AI in computer vision market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The AI in computer vision market forecast analyzes AI in computer vision market size, AI in computer vision market share, leading competitor and their market positions.

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