The global Artificial Intelligence (AI) in Computer Vision Market size is expected to reach USD 80.10 billion by 2028 according to a new study by Polaris Market Research. The report “Artificial Intelligence (AI) in Computer Vision Market Share, Size, Trends, Industry Analysis Report, By Type (Hardware, Software), By Product (Smart Camera-Based Computer Vision System, PC-Based Computer Vision System); By Function; By Application; By Region; Segment Forecast, 2021 – 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rise in the integration of machine learning and deep learning technology in these systems and favorable government initiatives to support industrial automation and incorporation of this technology into the edge devices are the few factors encouraging the demand for artificial intelligence industry.
The New Vantage Partners reported that several firms are investing over USD 500 million in big data annually. It also estimated that investment in big data has grown from 12.7 in 2018 to 21.1% in 2019. This significant increase in big data investment is likely to progress the need for ML-based vision technology, which eventually expands the growth outlook of the market over the forecast period.
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Major participants include Algolux, AMD, AWS, Basler, Ceva, Facebook, Google, Graphcore, Groopic Inc., Groq, Hailo, IBM, Intel Corporation, Leap Motion, Microsoft, Nvidia, Oculus, Qualcomm, Trivision, Xilinx some of the key players operating in the global industry.
The key players are likely to emphasize developing their product line to mark their global footprint in the unreached market. For instance, in April 2021, Nvidia launched the next-generation Artificial Intelligence ntegrated processor for autonomous vehicles, named Nvidia Drive Atlan, which can provide over 1,000 trillion operations per second (TOPS).
Similarly, in July 2021, Shutterstock unveiled the accessibility of its new data (3D, images, videos, and related materials) On AWS data exchange to develop solutions. Such initiatives will drastically contribute towards the higher growth of the global industry.
Polaris Market Research has segmented the Artificial Intelligence (AI) in computer vision market report on the basis of type, product, function, application, and region:
Artificial Intelligence (AI) in Computer, Type Outlook (Revenue – USD Million, 2016 – 2028)
Artificial Intelligence (AI) in Computer, Product Type Outlook (Revenue – USD Million, 2016 – 2028)
- Smart Camera-Based Computer Vision System
- PC-Based Computer Vision System
Artificial Intelligence (AI) in Computer, Function Outlook (Revenue – USD Million, 2016 – 2028)
- Image Classification
- Object Detection
- Object Tracking
- Content-based Image Retrieval
Artificial Intelligence (AI) in Computer, Application Outlook (Revenue – USD Million, 2016 – 2028)
- Security & Surveillance
- Transportation & Logistics
Artificial Intelligence (AI) in Computer, Regional Outlook (Revenue – USD Million, 2016 – 2028)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa