Global AI in Computer Vision Market Insights Forecasts to 2033

• The Global AI in Computer Vision Market Size was Valued at USD 16.94 Billion in 2023
• The Market Size is Growing at a CAGR of 21.48% from 2023 to 2033
• The Worldwide AI in Computer Vision Market Size is Expected to Reach USD 118.56 Billion by 2033
• Asia Pacific is expected to Grow the fastest during the forecast period.

The Global AI in Computer Vision Market Size is Anticipated to Exceed USD 118.56 Billion by 2033, Growing at a CAGR of 21.48% from 2023 to 2033.

Market Overview

Computer vision uses artificial intelligence (AI) to enable computers and systems to interpret and analyze visual data and derive meaningful information from digital images, videos, and other visual inputs. Object detection, visual content (images, documents, videos) processing, understanding and analysis, product search, image classification and search, and content moderation are some of the applications of computer vision. The integration of AI and ML into computer vision gives several benefits, which include increased accuracy, computer imagination, and prescient AI and ML are greater accurate than human vision, driving big benefits for programs together with picture-primarily based early cancer detection. Machine learning, which is part of a type of AI, has been at the forefront of enabling computer vision and uses humongous volumes of training datasets from which it can learn about patterns. The algorithms or logic in machine learning can detect the features, characteristics, or objects within the most complex images. Further, deep learning (DL) has revolutionized advanced digital picture processing, enabling significant advancements in computer vision (CV). In the agriculture sector, AI computer vision is used to automate various processes, such as crop monitoring, yield prediction, and disease identification. The AI algorithms analyze images of crops and provide information on their growth, health, and potential yield. Thus, the rising application of AI-driven computer vision for determining and improving crop products promotes market opportunity in the agriculture, logistics, and manufacturing sectors.     

Report Coverage

This research report categorizes the market for the global AI in computer vision market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global AI in computer vision market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global AI in computer vision market.

Driving Factors

The increasing demand for automation in object identification, pattern recognition, and quality assurance, leads to enhanced market demand for AI-powered computer vision. The advancement in neural networks and deep learning has expanded the market. The ongoing advancements in sensor technology, cloud computing infrastructure, and hardware performance are responsible for augmenting the market growth of AI in computer vision. For instance, Kumpulan Modal Perdana (KMP) has invested in SmartRetail, a leading AI computer vision profiling solutions and consumer engagement advertising technologies platform. The implementation of regulatory standards on AI technology like ISO/IEC standards sets benchmarks for quality and interoperability. Adherence to these standards ensures compatibility and reliability across various computer vision applications, and maintaining international quality norms makes businesses more confident to invest in AI-driven computer vision. Thus, the growing investments in cutting-edge AI computer vision are driving the market. The need for enhanced security and surveillance is growing the market demand for AI in computer vision.        

Restraining Factors

The concerns about the security and privacy of personal information resulted in regulatory scrutiny and even restrictions on the use of data. The lack of skilled talent for the efficient creation and deployment of AI-driven solutions leads to significant market growth restrain. The ethical and biased issues could prevent the technology from being widely adopted and from receiving regulatory approval. Further, the concerns about job displacement, where manual visual inspection tasks are common resulted in resisted adoption and arousal of regulatory barriers.

Market Segmentation

The global AI in computer vision market share is classified into component, function, application, and end-use.

• The software segment is expected to hold the largest share of the global AI in computer vision market during the forecast period.   

Based on the component, the global AI in computer vision market is categorized into hardware and software. Among these, the software segment is expected to hold the largest share of the global AI in computer vision market during the forecast period. The rising use of AI in emerging technologies such as IoT and edge computing. Further, the improvement and advancement in computing power and machine learning algorithms have contributed to market growth in the software segment. 

• The training segment is expected to grow at the fastest CAGR during the forecast period.   

Based on the function, the global AI in computer vision market is categorized into training and inference. Among these, the training segment is expected to grow at the fastest CAGR during the forecast period. AI model training includes a learning algorithm with training data. Training is computationally very expensive and is best accelerated with GPUs. Various industrial sectors like healthcare, finance, transportation, manufacturing, agriculture, media, and logistics are using AI and ML training.

• The nonindustrial segment accounted for the largest market share in 2023.

Based on the application, the global military simulation and training market is categorized into industrial and nonindustrial. Among these, the nonindustrial segment accounted for the largest market share in 2023. AI algorithms automate video editing tasks, analyze audience engagement, and deliver immersive experiences to consumers accelerating its application in the entertainment and media sector. Utilization of computer vision technology for content creation, video analysis, virtual reality (VR), and personalized content delivery has driven market growth in the nonindustrial segment.  

• The consumer electronics segment dominates the market with the largest revenue share through the forecast period.

Based on the end-use, the global AI in computer vision market is categorized into automotive, healthcare, retail, security & surveillance, robotics & machines, and consumer electronics. Among these, the consumer electronics segment dominates the market with the largest revenue share through the forecast period. Smartphones, tablets, and smart TVs are some of the consumer electronics contributing to the growth of global AI in computer vision market. Smartphones are the gateway to cutting-edge computer vision technology, covering facial recognition for unlocking phones, augmented reality filters in social media apps, text recognition in images, and organizing photos by recognizing faces with improved user experience and a phone security system.

Regional Segment Analysis of the Global AI in Computer Vision Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

North America is anticipated to hold the largest share of the global AI in computer vision market over the predicted timeframe.

North America is anticipated to hold the largest share of the global AI in computer vision market over the predicted timeframe. The presence of leading global market players in the North American region is responsible for driving the market. The rising investments in research and development activities to establish cutting-edge technologies due to the growing demand for intelligent automation technologies are expected to enhance the market. The rapidly growing innovations in the healthcare sector are also responsible for market growth.  

Asia Pacific is expected to grow at the fastest CAGR growth of the global AI in computer vision market during the forecast period. The considerable expansion rate, specifically in countries like China, India, and Japan increases the market growth. There is a huge investment in developing AI-based solutions owing to the engagement of tech giants in the research and development areas. The incorporation of AI-based solutions in various sectors such as manufacturing and automotive. The adoption of smart automation solutions in the healthcare sector propelling the market growth.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global AI in computer vision market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• IBM Corporation
• Qualcomm Technologies, Inc.
• Nvidia Corporation
• Baummer
• Cognex Corporation
• Intel Corporation
• Microsoft Corporation
• Teledyne Technologies Incorporated
• Texas Instruments Incorporated
• Omron Corporation
• Facebook, Inc.
• Apple, Inc.
• Google LLC
• Clarifai Inc.
• Sony Semiconductor Solutions Corporation
• Amazon Web Services
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

·In January 2023, Microsoft announced a new multibillion-dollar investment in ChatGPT-maker OpenAI. The investment is the third phase of the partnership, following Microsoft’s previous investments in 2019 and 2021. This renewed partnership is expected to accelerate breakthroughs in AI and help both companies commercialize advanced technologies.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global AI in computer vision market based on the below-mentioned segments: 

Global AI in Computer Vision Market, By Component

• Hardware
• Software

Global AI in Computer Vision Market, By Function

• Training
• Inference

Global AI in Computer Vision Market, By Application

• Industrial
• Nonindustrial

Global AI in Computer Vision Market, By End-Use

• Automotive
• Healthcare
• Retail
• Security & Surveillance
• Robotics & Machines
• Consumer Electronics

Global AI in Computer Vision Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa