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AI in Computer Vision Market Trends

Report ID: GMI5667
Published Date: May 2023
Report Format: PDF

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AI in Computer Vision Market Trends

It is anticipated that government attempts to promote the development of AI-related technologies will open the door for AI in the computer vision sector. Around the world, several governmental organizations are increasing their investments in artificial intelligence and planning how to employ and promote its use. Recently, in May 2023, the U.S. National Science Foundation (NSF) announced an investment of nearly USD 140 million along with several federal agencies and higher education institutions. This investment will be used to launch seven new AI institutes (National Artificial Intelligence Research Institutes).

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of AI in computer vision reached USD 9.9 billion in 2023 and will witness 10% CAGR from 2024 to 2032, due to the growing integration of advanced technologies in the security and surveillance sector.

The hardware segment was valued more than USD 4.6 billion in 2023, favored by the accessibility of cutting-edge hardware platforms that provide simple component connections and advanced features like quick processing, multi-megapixel resolution, and fully digital data management.

North America market size is set to cross USD 8.2 billion by 2032, owing to the increasing technological upgrades in the industrial sector and the technology’s ability to help users identify defective gear.

Basler AG, Google (Alphabet), Intel Corporation, Amazon Web Service, Inc., IBM Corporation, Cognex, and Advanced Micro Device, Inc. are significant players in the market.