$95+Billion Artificial Intelligence in Computer Vision Market Size to Reach 46.9% Compound Annual Growth Globally by 2027 – Exclusive Report from The Insight Partners

Insight Partners

Insight Partners

The growth of the computer vision for artificial intelligence market is being driven by the increasing demand for augmented reality, emotional artificial intelligence, and process automation across industries. Automotive segment will have the highest share of artificial intelligence in the computer vision market by 2027

NEW YORK, October 7, 2022 (GLOBE NEWSWIRE) – Insight Partners has published the latest research study on “Artificial intelligence in the computer vision market Forecasts to 2027 – Impact of COVID-19 and Global Analysis by Component (Hardware and Software) and End User (Automotive, Sports & Entertainment, Robotics & Machine Vision, Security & Surveillance, Government & Defense, etc.) Computers increased from $9.04 billion in 2021 to $95.08 billion by 2027 and is expected to grow at a compound annual growth rate of 46.9% during the forecast period from 2021 to 2027.

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Artificial Intelligence in Computer Vision Market Study Area, Segments, Regional and Country Scope:

Market size value in

$9.04 billion in 2021

Market size value by

$95.08 billion by 2027

growth rate

CAGR of 46.9% from 2021-2027

prediction period

2021-2027

base year

2021

number of pages

146

number of tables

55

Number of charts and shapes

73

Available historical data

yes

Sectors covered

Component and end user

Regional scope

North Amarica; Europe; Asia Pacific; Latin america; Middle East Airlines

country range

United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Artificial Intelligence in the Computer Vision Market: Competitive Landscape

The top five AI companies in the computer vision market include ALLIED VIS; BASLER AG; xilinx; Cognex TELEDYNE TECHNOLOGIES, INC. The above list of major players is derived by considering multiple factors such as total revenue, current AI in computer vision portfolio, new product launches, market initiatives, technology hierarchy investment, mergers and acquisitions, and other common activities. There are many other prominent players in the global data-disputed market ecosystem such as ION TECHNOLOGIES GMBH and GENERAL ELECTRIC COMPANY. and INTEL CORPORATION and MICROSOFT CORPORATION. , among others.

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Artificial intelligence in computer vision is gaining great momentum all over the world. Rising demand for process automation across industries is fueling market growth. While technologies like the Internet of Things are revolutionizing the manufacturing industry and making operations more autonomous, artificial intelligence will help enhance it in computer vision. In checking manufactured goods for defects and non-conformities, computer vision plays an important role. Thus, it may reduce the need for human inspection on the production line, greatly increasing the adoption of AI in computer vision technology across the industry. Likewise, edge computing answers the problem of latency and network accessibility. Currently, systems may be set up in areas where network connectivity is poor or non-existent without taking access into account.

In fiscal year 2020, the US federal government has laid out plans to spend $4.9 trillion in research and development in technology such as artificial intelligence and machine learning. Moreover, this region’s growing investment in advanced technology is expected to contribute to the growth of artificial intelligence in the computer vision market over the years.

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APAC AI in Computer Vision Market Grows at Highest Compound Annual Growth Rate (CAGR) During the Forecast Period:

The main contributors to the growth of artificial intelligence in the computer vision market in the Asia Pacific region are Australia, China, Japan and India. Rapid developments in technology, digitization of economies and adequate support from the government are leading to the smooth evolution of these economies from the stage of development to an advanced stage in terms of adopting technologically advanced solutions across the various industries present in the region.

Investing in technology enables industries to enhance their overall productive capacity in developing countries. These projects enable investors in the public and private sectors to benefit from capital investment. Furthermore, countries in the Asia Pacific region have seen a rise in both public and private investment in complex technologies across the region. This promotes the adoption of artificial intelligence (AI) and the implementation of computer vision solutions across organizations in the region. For example, AI & Vision Solutions (Pvt) Ltd offers computer vision solutions powered by artificial intelligence such as intelligent parking management systems, traffic law violations detection system, city monitoring and crime prevention solutions. Thus, advanced solutions are highly adopted by both the public and private sectors in the region, driving the growth of artificial intelligence in the computer vision market in the Asia Pacific region.

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Nowadays, any virtual reality or augmented reality device produces an interactive 3D world. Most AR devices can perform basic environment scans – for example, Google ARCore can detect flat surfaces and changes in lighting conditions – and VR systems can detect user movements through head tracking, controllers, etc.; However, their abilities stop there. Computer vision software takes VR and AR to the next level of advancement that some call augmented reality (MR). With the help of cameras and sensors for mapping the external environment, as well as eye-tracking solutions and gyroscopes for user mode, virtual and augmented reality systems can perceive the atmosphere and guide the user away from barriers such as walls, products or other users; Detect the user’s eye and body movement and adopt the VR environment accordingly; Offer guidance and direction for indoor areas, parks, underground and more. For example, in a Lowe’s hardware store, each visitor can use the AR system to create their own shopping list from which they can get directions for each item in the store. This is expected to increase the demand for artificial intelligence (AI) in computer vision over the years.

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Industry latest developments:

year

News

region

2020

Basler offered a fully integrated development kit with cloud connectivity. It allows AI-based IoT applications to be tested on an enhanced vision system and access to cloud services. Cloud connectivity makes it easy to upload or train neural networks.

Europe

2020

Cognex introduced the In-Sight D900 integrated vision system, the first solution of its kind to offer many features such as Cognex’s ViDi deep learning software inside an In-Sight industrial-grade smart camera.

North Amarica

2020

Intel acquired Cnvrg.io with the aim of enhancing machine learning and AI operations.

North Amarica

2019

Cognex has acquired SUALAB, a leading Korea-based developer of vision software using deep learning for industrial applications.

North Amarica

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