Beyond Pixels: Exploring the AI in Computer Vision Market $45.7 Billion Growth

With a strong compound annual growth rate (CAGR) of 21.5%, the AI in Computer Vision Market is expected to rise from USD 17.2 billion in 2023 to an astounding USD 45.7 billion by 2028. The increasing integration of artificial intelligence (AI) technology with computer vision applications across multiple industries is responsible for this exponential rise. Widespread acceptance of AI has been driven by its transformative influence on improving pattern recognition, visual perception, and image and video analysis. AI in computer vision is being used by sectors including healthcare, automotive, retail, and manufacturing to increase productivity, automate tasks, and facilitate decision-making. The growth trajectory of the market is indicative of the increasing importance of AI-driven visual intelligence in transforming the way businesses function and innovate.

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AI In Computer Vision Market

The astonishing developments in deep learning algorithms are one of the primary factors driving the dynamic growth of the AI in computer vision market. The rising availability of data, aided by more rapid and reasonably priced processing power, is fundamentally changing the market. Enhancing the capabilities of computer vision systems has been made possible in large part by the development of hardware technologies like GPUs and TPUs. Together, these developments improve AI's effectiveness and performance in computer vision applications, opening up new avenues for creativity and increased opportunities in a range of sectors.

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A number of developments and upheavals are causing major changes in the AI ecosystem for computer vision. Significantly, the discipline of machine learning has undergone a revolution thanks to developments in deep learning. The accuracy and efficacy of AI computer vision systems are steadily improving because to the combination of complex deep learning algorithms and large datasets. The growing use of edge computing, a distributed computing paradigm that processes data close to its source to enable real-time processing and lower latency, is another significant trend. In AI computer vision, this method is becoming more and more popular, which helps to increase efficiency.

Increasing use of AI computer vision in autonomous systems

A new era of creative applications is being ushered in by the incorporation of AI computer vision into autonomous systems, such as self-driving cars, drones, and robots. AI computer vision is essential to these systems' ability to see and understand their environment, which enables well-informed decision-making and responsive behaviour. When it comes to self-driving cars, artificial intelligence (AI) algorithms use information from cameras and sensors mounted in the car to recognise and understand objects in real time, including cars, pedestrians, road signs, and traffic signals. This feature advances autonomous technology by enabling self-driving cars to safely traverse their surroundings and make judgements in real time without requiring human assistance.

GPU is expected to hold the highest CAGR for the hardware segment during the forecast period.

In the consumer market, graphic processing units (GPUs) have surpassed central processing units (CPUs) in handling complicated data sets with more efficiency, making them essential parts of computing systems. GPUs are mostly used in 3D applications, such as computer games and 3D authoring software, because they perform better. Important suppliers of processors for this market include Intel, Qualcomm, and NVIDIA. Specifically, NVIDIA GPUs are used in industrial inspection systems to analyse and analyse picture data from multiple sensors in real-time. Several businesses in the industrial inspection sector use NVIDIA's Jetson platform, which incorporates the Pascal GPU architecture with 256 cores. The platform demonstrates strong scalability and performance for industrial applications, excelling in AI vision tasks like object identification, segmentation, and image classification.

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AI in the computer vision market in North America to hold the highest market share during the forecast period

American startups are getting funding from a variety of sources to further their research into artificial intelligence (AI), with a focus on applications related to autonomous drones and other aerial vehicles. The main goal is to overcome the issues with industrial drone autonomy, safety, and dependability. These startups are developing cutting-edge methods to improve hazard identification and increase the durability of industrial drones by combining computer vision and deep learning techniques. Furthermore, the US has robust computer vision programmes at its research and academic institutions, which actively support the ongoing advancement of this discipline. The cooperation of startups and universities advances artificial intelligence (AI) in the field of unmanned aerial vehicles.

NVIDIA Corporation (US), Intel Corporation (US), Microsoft (US), IBM Corporation (US), Qualcomm Technologies Inc. (US), Advanced Micro Devices, Inc (US), Alphabet, Inc. (US), Amazon (US), Basler AG (Germany), Hailo (US), and Groq, Inc. (US). The other company profiles included in the scope are Sighthound, Inc. (US), Neurala, Inc. (US), Datagen (Israel), Graphcore (UK), Groopic (US), Ultraleap (US), Algolux (US), Athena Security (US), Snorkel AI (US), Vizseek (US), Robotic Vision Technologies (US), AMP Robotics (US), CureMetrix (US), and Creative Virtual (UK) are among the many players in the AI in computer vision market.

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