AI in Computer Vision Market

Market Leader - AI in Computer Vision Market

The AI in computer vision market is estimated to be valued at USD 15.9 billion in 2021 and reach USD 51.3 billion by 2026, at a CAGR of 26.3%. The growing need for quality inspection and automation, increasing demand for computer vision systems in non-traditional and emerging applications, and rising need for ASICs are the key factors driving the growth of the market. Likewise, government initiatives to support industrial automation and integration of AI into edge devices are expected to create lucrative opportunities for the players in the AI in computer vision market. However, rising security concerns related to cloud-based image processing and analytics are expected to restraint market growth.

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). The major strategies adopted by the top 5 players in the AI in computer vision market included product launches and developments, collaborations, and acquisitions which helped them to innovate on their product offerings and broaden their customer base.

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Top 2 players in the AI in computer vision are:

NVIDIA Corporation (US)

NVIDIA is among the world leaders in the visual computing business. It has a well-established geographic footprint and deals with major OEMs or ODMs. The company continues to lead in the development of new products for the AI in computer vision market. Recently, it has witnessed a significant rise in the revenue from the data center business. It is giving tough competition to Intel in the data center market. NVIDIA DRIVE for automakers to build and deploy self-driving cars and trucks that are functionally safe and certified to international safety standards is one of the company’s important products. NVIDIA is well ahead in the R&D of autonomous cars when compared to its competitors. NVIDIA is primarily focusing on extending its technology and platform leadership in visual computing. It has been investing more than 20% of its revenue in R&D to expand the visual computing segment and enhance the user experience for consumer entertainment and professional visualization applications. Its roadmap delivers the latest technologies across multiple products and devices. This roadmap is the result of extensive collaboration with game developers, governments, and industry-standard organizations, as well as years of research in emerging network standards and the development of integrated circuits. NVIDIA has a strong base of reliable suppliers of raw materials, enabling it to overcome any supply chain bottlenecks. Over the years, the company has built a reliable distribution network that can reach most of its potential markets. It has invested in building a strong brand portfolio for the visual computing market through new product launches.

 Recent Developments

  • In April 2021, NVIDIA revealed the next-generation AI-enabled processor for autonomous vehicles, NVIDIA DRIVE Atlan, which can deliver more than 1,000 trillion operations per second (TOPS). The NVIDIA DRIVE Atlan system-on-a-chip is the newest addition to NVIDIA’s centralized compute roadmap for autonomous vehicles, and it fuses AI and software with the latest in computing, networking, and security for unprecedented levels of performance and security
  • In April 2021, NVIDIA introduced a new class of  NVIDIA-Certified System, bringing AI within reach for organizations that run their applications on industry-standard enterprise data center infrastructure. This new class includes high-volume enterprise servers from top manufacturers that can run the  NVIDIA AI Enterprise software suite and is exclusively certified for  VMware vSphere  7, known as the world’s most widely used computing virtualization platform.

Intel Corporation (US)

Intel is a leading designer and manufacturer of advanced integrated digital technology platforms. The company has a robust market presence, especially in the PC and data center market, and invests significantly in R&D, which has resulted in its strong position in the AI computer vision market. Intel has a monopoly in the data center and emerging markets such as China and India. The company has untapped opportunities in the edge-based artificial intelligence market. Intel, in the past 2 years, has significantly adopted inorganic strategies such as acquisitions and partnerships. The acquisition of companies such as Saffron Technology, Altera, Nervana Systems, Movidius, and Mobileye has further improved its AI product portfolio. Moreover, Intel’s partnership with AI software solution and service providers such as C3 IoT, Inc., JianPei Tech Ltd., and Mphasis is expected to be a vital growth strategy of the company in the coming years, as these solutions will lead to mainstream AI adoption. For instance, in August 2017, Intel acquired Mobileye (Israel) to develop automated driving cloud-to-car solutions. This acquisition has positioned Intel as a leading technology provider in the fast-growing market for fully autonomous vehicles and enabled the company to expand its footprint globally and position itself in the automotive industry in Israel.

Recent Developments

  • In January 2021, Intel introduced Intel RealSense ID, an on-device solution that combines an active depth sensor with a specialized neural network designed to deliver secure, accurate, and user-aware facial authentication. Intel RealSense ID works with smart locks, access control, point-of-sale, ATMs, and kiosks, among others.
  • In April 2019, Honeywell signed a collaboration agreement with Intel to integrate new artificial intelligence (AI) capabilities in its MAXPRO  connected security platform. The MAXPRO Network Video Recorders (NVR) and Video Management Systems (VMS) will incorporate Intel  Vision products that enable advanced analytics, deep learning, and facial recognition capabilities. These security solutions can save cost and time by significantly reducing false alarms.

Related Reports:

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

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Report Code
SE 6211
RI Published ON
6/10/2021
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