According to a research report published by Spherical Insights & Consulting, the Global AI in Computer Vision Market Size is Expected to Grow from USD 16.94 Billion in 2023 to USD 118.56 Billion by 2033, Growing at a CAGR of 21.48% during the forecast period 2023-2033.

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Artificial intelligence (AI) is used in computer vision to help computers and systems understand and evaluate visual information and extract useful information from digital photos, videos, and other visual inputs. Applications of computer vision include object identification, processing visual content (images, documents, videos), comprehension and analysis, product search, picture classification and search, and content moderation. Increased accuracy, computer imagination, and predictive AI and ML are among the many advantages of integrating these technologies with computer vision. They are also more accurate than human vision, which leads to significant advantages for programs that use images primarily for early cancer detection. The market for AI-powered computer vision is growing as a result of the growing need for automation in quality assurance, pattern recognition, and object identification. The market has grown as deep learning and neural networks have advanced. The continuous improvements in hardware performance, cloud computing infrastructure, and sensor technologies are what are driving the market expansion of artificial intelligence in computer vision. However, a major barrier to market expansion is the shortage of qualified personnel needed for the effective development and implementation of AI-driven solutions.

Browse key industry insights spread across 240 pages with 120 Market data tables and figures & charts from the report on the Global AI in Computer Vision Market Size, Share, and COVID-19 Impact Analysis, By Component (Hardware and Software), By Function (Training and Inference), By Application (Industrial and Nonindustrial), By End-Use (Automotive, Healthcare, Retail, Security & Surveillance, Robotics & Machines, and Consumer Electronics), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.

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The software segment is predicted to hold the largest market share of the global AI in computer vision market through the forecast period.

Based on the component, the global AI in computer vision market is classified into hardware and software. Among these, the software segment is predicted to hold the largest market share of the global AI in computer vision market through the forecast period. The growing application of AI in cutting-edge technologies such as edge computing and the Internet of Things. Additionally, the software segment’s market has grown as a result of improvements and advancements in machine learning algorithms and processing capacity.

The training segment is estimated to grow at the fastest CAGR growth of the global AI in computer vision market during the projected timeframe. 

Based on the function, the global AI in computer vision market is divided into training and interference. Among these, the training segment is estimated to grow at the fastest CAGR growth of the global AI in computer vision market during the projected timeframe. Using training data and a learning algorithm is part of training AI models. Training requires a lot of work and is best accelerated by GPUs. A wide range of industries, including manufacturing, logistics, healthcare, finance, transportation, media, and agriculture, are utilizing AI and ML training.

The nonindustrial segment accounted for the largest market share of the global AI in computer vision market in 2023.

Based on the application, the global AI in computer vision market is categorized into industrial and nonindustrial. Among these, the nonindustrial segment accounted for the largest market share of the global AI in computer vision market in 2023. AI algorithms speed up their use in the media and entertainment industry by automating video editing processes, analyzing audience participation, and providing customers with immersive experiences. The nonindustrial segment’s market has grown as a result of the use of computer vision technologies for video analysis, content production, virtual reality (VR), and personalized content distribution.

The consumer electronics segment is expected to hold the largest market share of the global AI in computer vision market during the forecast period.

Based on the end-use, the global AI in computer vision market is classified into automotive, healthcare, retail, security and surveillance, robotics and machine, and consumer electronics. Among these, the consumer electronics segment is expected to hold the largest market share of the global AI in computer vision market during the forecast period. The majority of the consumer electronics driving the expansion of global AI in computer vision market are smartphones, tablets, and smart TVs. Leading-edge computer vision technology is accessible through smartphones, including augmented reality filters in social media apps, text detection in photos, facial recognition for phone unlocking, photo organization using face recognition, and phone security systems.

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North America is estimated to hold the largest share of the global AI in computer vision market over the forecast period.

North America is estimated to hold the largest share of the global AI in computer vision market over the forecast period. The market for AI in computer vision is growing quickly in North America for several reasons. The increasing demand for intelligent automation technology across numerous industries is one of the primary causes. The need to increase productivity, accuracy, and efficiency in processes that formerly required human engagement is what is driving this demand. The development of artificial intelligence in computer vision in North America has been significantly aided by the manufacturing sector. Improved quality control, fewer mistakes, and quicker production schedules are the outcomes of integrating computer vision technology into manufacturing operations.

Asia Pacific is predicted to hold the fastest share of the global AI in computer vision market over the forecast period. The market is growing at a significant rate, particularly in nations such as China, India, and Japan. Recognizing that IT companies are involved in research and development, there is a significant investment in creating AI-based solutions. use of AI-based solutions across a range of industries, including manufacturing and automotive. The healthcare industry’s embrace of intelligent automation technologies is driving market expansion.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Global AI in Computer Vision Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the global AI in computer vision market include IBM Corporation, Qualcomm Technologies, Inc., Nvidia Corporation, Baummer, Cognex Corporation, Intel Corporation, Microsoft Corporation, Teledyne Technologies Incorporated, Texas Instruments Incorporated, Omron Corporation, Facebook, Inc., Apple, Inc., Google LLC, Clarifai Inc., Sony Semiconductor Solutions Corporation, Amazon Web Services, and Others

Recent Developments

• In May 2024, OpenAI unveiled its new flagship model, GPT-4o, which has real-time reasoning capabilities across text, voice, and vision. As a step toward far more natural human-computer interaction, GPT-4o can take any combination of text, audio, picture, and video as input and produce any combination of outputs that include text, audio, and images.
• In February 2024, Pratham is Assert AI’s no-code machine vision platform. Its unique method of democratizing artificial intelligence and computer vision has earned this platform a patent. Pratham represents a major advancement in computer vision technology by enabling users to fully utilize Vision AI capabilities without the requirement for coding knowledge or AI experience.
• In March 2023, Microsoft Corporation declared that their Florence Foundation model would usher in a new era in computer vision AI. Azure Cognitive Service for Vision integrates Microsoft’s Florence foundation model, which has been trained on billions of text-image pairs, to provide affordable, production-ready computer vision services. With the help of enhanced Vision Services, developers can produce innovative, commercially viable, and ethical computer vision applications for a range of sectors.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global AI in computer vision market based on the below-mentioned segments:

 Global AI in Computer Vision Market, By Component

• Hardware
• Software

Global AI in Computer Vision Market, By Function

• Training
• Inference

Global AI in Computer Vision Market, By Application

• Industrial
• Nonindustrial

Global AI in Computer Vision Market, By End-Use

• Automotive
• Healthcare
• Retail
• Security & Surveillance
• Robotics & Machines
• Consumer Electronics

Global AI in Computer Vision Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

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About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company’s mission is to work with businesses to achieve business objectives and maintain strategic improvements.

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