Artificial Intelligence (AI) in Computer Vision Market - Forecasts from 2024 to 2029

Artificial Intelligence (AI) in Computer Vision Market - Forecasts from 2024 to 2029

The AI in computer vision market is anticipated to expand at a CAGR of 25.53% to reach a market size of US$55.081 billion in 2029 from an initial value of US$17.669 billion in 2024.

Computer vision AI is a subcategory of artificial intelligence (AI) that utilizes AI technology, deep machine learning, and complex interconnected neural networks to process digital visual input to obtain crucial insights or to achieve a targeted result. In an AI-assisted computer vision system, visual input is scanned through a sensing device to produce an output after passing it through an inferring device.

AI in computer vision can perform numerous attributes such as face recognition, image detection, moving object detection, grouping of images, object segmentation, future prediction based on past trends, and observation of moving targets. The convenience and versatility of computer vision in AI result in its application in different sectors, such as healthcare, agriculture, transportation, finance, cybersecurity, and retail. Hence, after considering the potential of AI in computer vision to evolve and increase its applications in different sectors, it can be anticipated that this market will experience a rapid expansion in the forecast period.

AI IN COMPUTER VISION MARKET DRIVERS:

Growing demand for AI in computer vision from the agricultural sector is anticipated to accelerate the market expansion.

The developments in the computer vision AI field help improve the agricultural technology software innovated to assist and enhance the overall productivity of the agricultural sector. Agricultural enterprises employ computer vision AI technology to predict weather patterns and harvest levels and detect agricultural concerns. Digital inputs from drones and satellites can be accessed to analyze weather patterns and predict the occurrence of natural calamities like hurricanes.

In addition, computer vision AI can assist in improving crop yield and productivity by detecting harmful weeds or issues with crop health. Its applications can further analyze new hybrid crops' color, texture, and quality to check their compatibility with the soil. For instance, companies like Descartes Labs and Blue River Technology are actively providing computer vision AI services to agricultural companies and investing in expanding their product portfolio in this field.

AI In Computer Vision Market Geographical Outlook:

North America to hold significant shares of AI in the computer vision market.

The rise in the launch of AI startup companies in North America targeting to provide AI computer vision services to its clients demonstrates its market potential. For instance, Ocrolus Company in New York adopts AI computer vision technology and machine learning to offer financial data analysis and consultancy services to its customers. Another AI startup, Orbital Insight, also uses this technology for input into energy and farming by leveraging satellite images and other sources to make recommendations.

In addition, giant technology companies like Google, Microsoft, and IBM are actively investing in developing new AI software, including computer vision AI. There is a rise in the adoption of computer vision AI across various sectors such as agriculture, manufacturing, automotive, and information technology in North American countries like the USA and Canada. This will result in an increase in the market size of North American computer vision AI over the forecast period.

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Report Coverage:

Historical data & forecasts from 2022 to 2029
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, Customer Behaviour, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others)

Market Segmentation:

The AI In Computer Vision Market is segmented and analyzed as below:

By Type

Hardware
Software

By Product

Smart Camera-based
PC-based

By Function

Image Classification
Object Detection
Visual Inspection
Others

By Applications

Automotive
Consumer Electronics
Healthcare
Manufacturing
Retail
Others

By Geography

North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
United Kingdom
Germany
France
Italy
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Others
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others