Artificial Intelligence in Computer Vision Market Size, Share, Growth Analysis, By Application, By Component(Software, Hardware ), By Function, By Machine Learning Models, By End Use Industry, By Region - Industry Forecast 2024-2031

Artificial Intelligence (AI) in Computer Vision Market size was valued at USD 20.7 billion in 2022 and is poised to grow from USD 25.8 billion in 2023 to USD 148.8 billion by 2031, growing at a CAGR of 24.5% during the forecast period (2024-2031).

The burgeoning demand across industries is propelling rapid growth in Artificial Intelligence (AI) applied to computer vision. AI has become integral in predictive maintenance systems, utilizing CCTV and deep machine learning to accurately detect faults across diverse systems, highlighting its significance across consumer products, medical, and industrial sectors. The proliferation of image sensors, smart cameras, and deep learning algorithms is driving the popularity of computer vision systems, fostering innovation and market expansion. Analysis reveals computer vision as the most prominent AI application, commanding 49% of AI-related patents, with natural language and speech processing following at 14% and 13%, respectively. Notably, healthcare leads in AI-driven computer vision, evidenced by the highest patent count and a dominant CAGR of 31.2%.

Top-down and bottom-up approaches were used to estimate and validate the size of the Artificial Intelligence (AI) in Computer Vision market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Artificial Intelligence (AI) in Computer Vision Market Segmental Analysis

Artificial Intelligence (AI) in Computer Vision Market is segmented by component, function, machine learning models, application, end-use industry and region. Based on component, the market is segmented into Software (AI Platform, AI Solution), and Hardware (Processor [CPU, GPU, ASIC, FPGA], Memory, Storage). Based on function, the market is segmented into Training and Inference. Based on machine learning models, the market is segmented into Supervised Learning (Convolutional Neural Networks, Recurrent Neural Networks), Unsupervised Learning, and Reinforcement Learning. Based on application, the market is segmented into Industrial (2D Machine Vision, 3D Machine Vision, Quality Assurance & Inspection), and Non-industrial. Based on the end-use industry, the market is segmented into automotive (ADAS & infotainment, autonomous & semi-autonomous vehicles), consumer electronics (gaming, cameras, wearables, smartphones), healthcare (radiology, medical imaging), retail, security & surveillance (biometrics, image & video analytics, ai-guided drone-based surveillance), manufacturing, agriculture (crop monitoring, automated irrigation systems), transportation & logistics, and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.

Drivers of the Artificial Intelligence (AI) in Computer Vision Market

The burgeoning market growth is fueled by heightened demand across diverse industries for AI-powered computer vision technologies. These technologies find applications in plant recognition, crop surveillance, and weed spraying within agriculture, as well as in retail for streamlined check-out processes and traffic monitoring, and in manufacturing for automated steering and robotics. The advancement and adoption of computer vision tools not only signify progress in technology but also underscore the urgency to enhance artificial intelligence capabilities, highlighting the need for proactive measures to leverage these technologies effectively and ethically.

Restraints in the Artificial Intelligence (AI) in Computer Vision Market

The market growth of AI computer vision solutions is hindered by the substantial costs involved in their acquisition or development. These solutions often necessitate specialized hardware, software, and technical expertise, rendering their creation and implementation expensive. New organizations seeking to adopt AI computer vision systems encounter significant challenges, including the expenses associated with acquiring hardware, software licenses, and technical support. Moreover, companies are compelled to invest in training and development programs to cultivate the necessary technical proficiency for effectively utilizing these systems. Thus, the financial barriers associated with both initial setup and ongoing maintenance pose considerable obstacles to the widespread adoption of AI computer vision technologies.

Market Trends of the Artificial Intelligence (AI) in Computer Vision Market

Edge computing is emerging as the cornerstone of the computer vision sector, integrating AI capabilities for futuristic applications. Major players in artificial intelligence-driven computer vision are actively leveraging edge computing to develop intelligent products, intensifying their competitive stance in the market. This paradigm shift relocates data analysis from centralized networks or the Cloud to the edge, marking a pivotal advancement in computer vision technology. One notable contender in this arena is the Atos Computer Vision Platform, distinguished by its comprehensive suite of pre-trained and customizable AI models. Backed by the expertise of six Atos AI Computer Vision labs worldwide and superior hardware and software infrastructure, this platform pioneers the convergence of image processing capabilities from the Cloud to the edge, enabling seamless video analytics management across edge servers and Cloud environments.