The report "AI in Computer Vision Market With Covid-19 Impact by Component, Machine Learning Models, Function, Application (Industrial, Non-Industrial), End-Use Industry (Security & Surveillance, Consumer Electronics) and Geography - Global Forecast to 2026", is estimated to be valued at USD 15.9 billion in 2021 and reach USD 51.3 billion by 2026; it is anticipated to grow at a CAGR of 26.3% during the forecast period (2021–2026). The major factors driving the growth of AI in computer vision market are growing need for quality inspection and automation, increasing demand for computer vision systems in non-traditional and emerging applications, and rising need for ASICs and government initiatives to support industrial automation and integration of AI into the edge devices. However, several factors, such as rising security concerns related to cloud-based image processing and analytics can act as a key challenge in the market during the forecast period.
Download PDF Brochure:- https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=141658064
Drivers Growing need for quality inspection and automation
Manufacturing companies across the globe are planning to increase investments in automation in the post-COVID-19 period as it reduces the need for human intervention required for various processes. Besides, the need for automated quality assurance has increased as industry players have realized its importance in manufacturing processes. This has resulted in the widespread acceptance of AI-based computer vision solutions as an integral part of long-term automation development processes. The use of computer vision in automated production processes helps identify problems in a short period, which consequently reduces costs and improves response times. Likewise, it helps to recognize flawed goods, reduce the risk of return of products, and ensure higher customer satisfaction. Likewise, the need for computer vision in quality assurance has increased because, with this technology, all products on production lines can be examined equally and with the same focus. The growing need for quality inspection and automation will be a significant driver in the AI in computer vision market during the forecast period.
Increasing demand for computer vision systems in non-traditional and emerging applications
Inspection, identification, measurement, and locating the product are some of the major applications of computer vision systems in various industries. Apart from these applications, all AI-enabled vision systems have some means of developing new applications such as 3D model building, retail, medical imaging, optical character recognition, automobile safety, surveillance and traffic monitoring, morphing, and augmented reality. Vision systems and software are developed to address new applications related to the healthcare industry, traffic management, security & surveillance, postal & logistics, and document processing. In the future, established players are expected to benefit from building in-house application-specific AI-enabled computer vision systems. Besides, AI-enabled computer vision systems are witnessing increasing demand in various emerging applications such as unmanned aerial vehicles, missile guidance, and autonomous vehicles. The adoption rate of advanced driver assistance system (ADAS) is rapidly increasing for high-end vehicles. The integration of image capture and vision processing capabilities is a critical element involved in the designing of advanced driver assistance systems (ADAS), which enables it to offer additional and enhanced features beyond those provided by radar, LiDAR, infrared, ultrasound, and other sensing technologies.
APAC is attributed to growing at the highest CAGR in AI in computer vision market during the forecast period (2021-2026)
APAC is expected to grow at the highest CAGR in the AI in computer vision market. Countries such China, Japan, and South Korea are expected to be the major contributors to the market in APAC. Increased manufacturing operations contribute mainly to the economic development in China, while the rising demand to incorporate Industry 4.0 and advanced manufacturing techniques for increasing automation across various applications in India is contributing to the tremendous growth of AI in computer vision in APAC. North America is expected to hold the largest share of ~40% of the global AI in computer vision market in 2021. The presence of prominent AI technology providers, such as IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), and Facebook (US) is complementing the growth of the regional market. The growing concern about the security of critical infrastructure and sensitive data has increased government intervention in recent years and resulted in the adoption of AI in computer vision in security applications. Europe is likely to hold a share of ~29% of the AI in computer vision market in 2021. Germany and the UK are the major contributors to the AI in computer vision market in this region. The automotive industry in the UK is contributing to the growth of the AI in computer vision market.
Key Market Players
In 2020, the AI in computer vision market was dominated by NVIDIA (US), Intel Corp. (US), Microsoft Corp. (US), IBM Corp. (US) and Qualcomm (US).
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
No comments:
Post a Comment