The AI in computer vision market is driven by factors such as growing demand for edge computing in mobile devices, increasing demand for computer vision systems in non-traditional and emerging applications, and growing impact of AI in machine vision.

The AI in computer vision market is estimated to be worth USD 3.62 Billion in 2018 and is expected to reach USD 25.32 Billion by 2023, at a CAGR of 47.54% between 2018 and 2023. Advancement in camera dynamic range and resolution, computational cameras, real-time detection of moving objects, use of color information, analysis of point clouds, and cloud computing of machine vision are some of the technological developments which has created opportunities for the growth of this market.

The growing investment across sectors in building data-based businesses and the recognition by the Government of India to create enabling policies for AI drive the growth of the AI in computer vision market in APAC. Advancements in artificial intelligence (AI) have attracted investments from both private and public sectors in APAC. Many companies are trying to identify untapped areas of commercial applications in this region, which would enable optimal utilization of AI.

The major opportunity for this market is the development of machine learning regarding vision technology. Major players operating in the AI in computer vision market include NVIDIA (US), Intel (US), Qualcomm (US), Apple (US), Alphabet (US), Microsoft (US), Facebook (US), Wikitude (Austria), Xilinx (California), Basler (Germany), Teledyne Technologies (US), Cognex (US), General Electric (US), and Avigilon (Canada).

Top 2 players in the AI in computer vision market:

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, NVIDIA has witnessed significant jump in its data center revenue. 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 important products of the company. For instance, in January 2018, NVIDIA announced a new architecture of NVIDIA DRIVE, its AI autonomous vehicle platform that uses redundant and diverse functions to enable vehicles to operate safely.

Intel designs, manufactures, and sells computer, networking, and communication platforms globally. It develops computer vision and machine learning-based sensing products, mapping and driving policy technology solutions for advanced driver assistance systems, and autonomous driving technologies. In the AI-based computer vision market, the company focused on inorganic strategies such as acquisitions and partnerships between 2016 and 2017. For instance, in August 2017, Intel acquired Mobileye (Israel) to develop automated cloud-to-car solutions.

Related Reports:

AI in Computer Vision Market by Component (Hardware, Software), Vertical (Automotive, Sports & Entertainment, Consumer, Robotics & Machine Vision, Healthcare, Security & Surveillance, Agriculture), and Region - Global Forecast to 2023

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