The AI in computer vision market is expected to be valued at USD 3.62 billion in 2018 and is expected to reach USD 25.32 billion by 2023, at a CAGR of 47.54% between 2018 and 2023. A major factor driving the market include growing demand for edge computing in mobile devices. However, rising security concerns related to cloud-based image processing and analytics are restraining factors for the AI in computer vision market.
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Market for AI in computer vision in APAC is expected to grow at the highest rate during forecast period. Key reasons attributing to growth of AI in computer vision market in APAC is government funding of approximately USD 477 million to promote machine learning, 3D printing, and other technologies in India.
Market for AI in computer vision is expected to hold the largest share in North America.
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- Government and financial institutions, and investment communities
- Analysts and strategic business planners
- Semiconductor product designers and fabricators
- Application providers
- AI solution providers
- AI platform providers
- Business providers
- Professional service/solution providers
- Research organizations
- Technology standard organizations, forums, alliances, and associations
- Technology investors
The AI in computer vision market has been segmented by component, vertical, and geography. The AI in computer vision market, by component, has been segmented into hardware and software.
The market for hardware is expected to grow at a higher CAGR during the forecast period. The growth can be attributed to the increasing penetration of AI-capable processors in mobile devices, such as smartphones, drones, automotive, and consumer electronics devices.
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AI in computer vision has been widely adopted across various verticals owing to the increased quality assurance in manufacturing, and the need to reduce cost and improve response time. The consumer vertical accounted for the largest share in 2017.
The addition of AI capabilities to smartphones that will help change mainly 2 aspects: user–machine interaction and context-personalized openness. User–machine interaction will improve the efficiencies between the user and their phone across text, voice, image, video, and sensors, whereas the latter will actively provide services and aggregated information across apps, content, third-party features, and native features.
Following is the breakdown of primary participants’ profiles by different parameters:
- By Company Type: Tier 1 –45%, Tier 2 – 32%, and Tier 3 – 23%
- By Designation: C-Level –30%, Directors–45%, and Others –25%
- By Region: North America– 26%, Europe– 40%, APAC–22%, and RoW – 12%
Key players operating in AI in computer vision market include NVIDIA (US), Intel (US), Qualcomm (US), Apple (US), Alphabet (US), Microsoft (US), Facebook (US), Wikitude (Austria), Xilinx (California), Basler (Germany), Teledyne Technologies (US), Cognex (US), General Electric (US), and Avigilon (Canada).
Connect for More Details for More Information “AI in Computer Vision Market by Component (Hardware, Software), Vertical (Automotive, Sports & Entertainment, Consumer, Robotics & Machine Vision, Healthcare, Security & Surveillance, Agriculture), and Region - Global Forecast to 2023” report at www.rnrmarketresearch.com/contacts…ase?rname=1488262 .
Segments such as component, vertical, and geography have been covered in this report. The report offers a detailed view of the market across 4 main regions—North America, Europe, APAC, and RoW (comprising the Middle East and Africa, and South America).
Reasons to Access the Report:
- This report includes statistics pertaining to the AI in computer vision market by component, vertical, and geography.
- The major drivers, restraints, challenges, and opportunities for the AI in computer vision market have been provided in detail in this report.
- The report includes illustrative segmentation, analysis, and forecast for the AI in computer vision market based on its segments and sub segments.
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