AI in Computer Vision Market Anticipates Massive Growth: $45.7 Billion by 2028

The global AI in Computer Vision Market is experiencing significant growth, with an expected valuation of USD 17.2 billion in 2023, projected to reach USD 45.7 billion by 2028. This robust expansion, at a CAGR of 21.5% from 2023 to 2028, is driven by the increasing adoption of AI technologies across various industries. Computer vision, a critical component of AI, is transforming sectors such as automotive, healthcare, retail, and manufacturing by enhancing image and video analysis capabilities. The integration of AI in computer vision applications is propelling advancements in automation, quality control, and user experiences, highlighting the market's potential for substantial growth and innovation.

Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=141658064

Artificial intelligence-based computer vision, which involves the automatic extraction, analysis, and understanding of data from a single image or a sequence of images, has become a cornerstone technology in industrial automation. This advanced AI capability allows machines to interpret and make decisions based on visual input, driving efficiency and precision in manufacturing processes. Over recent years, computer vision has found applications across nearly all manufacturing industries, from quality control and inspection to robotic guidance and autonomous vehicles. Its ability to enhance operational productivity and accuracy is transforming the manufacturing landscape, underscoring the growing importance of AI-driven computer vision in the industrial sector.

The AI in the computer vision companies caters to automotive, consumer, healthcare, security & surveillance, and other industries. Major companies such as NVIDIA Corporation (US), Intel Corporation (US), IBM Corporation (US), and Microsoft (US) are highly investing in R&D to develop an AI-enabled computer vision portfolio.

AI in the computer vision hardware market is poised for the highest CAGR during the forecast period, driven by intense competition among established companies and startups. This competition has spurred numerous product launches and advancements, particularly in hardware development and software platforms designed to run machine learning algorithms and other AI programs. Leading companies such as NVIDIA (US), Intel (US), Qualcomm (US), and Basler (Germany) are at the forefront of AI hardware innovation. The market is set to witness significant growth due to the increasing integration of AI-capable processors in mobile devices, including smartphones, drones, automobiles, and consumer electronics. The expanding deployment of AI infrastructure is a crucial factor expected to drive the growth of AI in the computer vision hardware market, highlighting its transformative impact on technology and industry.

Inquire Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=141658064 

In terms of value, the non-industrial segment is projected to account for the largest share of AI in the computer vision market by 2028. This growth is fueled by the widespread adoption of AI-powered computer vision solutions across various non-industrial sectors, including surveillance and security, media and entertainment, retail and e-commerce, transportation, and social media. In surveillance and security, AI enhances monitoring capabilities, while in media and entertainment, it enables advanced content creation and editing. Retail and e-commerce benefit from improved customer insights and inventory management, and transportation sees advancements in autonomous driving and traffic management. Social media platforms use AI for content moderation and user engagement. The continued expansion of this technology across these sectors aims to solve real-world problems by improving efficiency, security, and customer experience, driving its market dominance in the coming years.

AI in the computer vision market in North America held the largest share in 2022, driven by the rapid adoption of AI-based computer vision solutions across diverse end-user industries in the US and Canada. These developed economies place a strong emphasis on R&D activities to foster technological advancements. Government initiatives in both countries are significantly boosting AI research and development, further propelling market growth. For instance, the US government has launched several programs to support AI innovation, while Canada's investments in AI research hubs and collaborations are enhancing the region's technological capabilities. This strong focus on R&D and supportive government policies positions North America as a leader in the AI in computer vision market, with a high rate of adoption expected to continue across various sectors.

For instance, the National Artificial Intelligence Initiative Act, signed into law in March 2021, aims to enhance AI research and development in the US through strategic funding and collaboration between government, industry, and academia. Additionally, the National Institute of Standards and Technology (NIST) launched the NIST AI Program in 2021, focusing on developing standards, guidelines, and tools to improve the reliability, security, and accuracy of AI systems. These government initiatives are expected to significantly boost the demand for AI in computer vision across the region, as they foster a supportive environment for technological innovation and implementation, driving advancements and adoption in various sectors.

Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/ai-in-computer-vision-market-141658064.html