Zion Market Research, the market research group announced the analysis report titled 'AI in Computer Vision Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2024'
Sarasota, FL -- (SBWIRE) -- 12/12/2018 -- Global AI in Computer Vision Market: Overview
Computer vision is a branch of automation and computer science that allows the perception of machine vision and develops methods for creating systems that gel information from images. Computer vision is used in controlling processes of industrial robots, in navigations for autonomous vehicles, detecting events, organization information, medical image analysis, automatic inspection in manufacturing processes and Human-computer interactions. Computer vision is closely linked with artificial intelligence, as it provides human vision to a computer. However, a major part of artificial intelligence deals with systems or machines that can perform mechanical work and actions. Advancements in artificial intelligence have fuelled the growth of computer vision market.
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Global AI in Computer Vision Market: Growth Factors
The Global AI in Computer Vision Market is projected to experience a steady growth across all developed as well as emerging economies. Factors such as growing demand for mobile edge computing, increasing adoption of artificial intelligence in various business verticals, video and image analysis applications, usage of electronic devices provided with virtual and augmented reality equipment in turn, contribute to the growth of the AI in Computer Vision Market worldwide. However, lack of technical expertise and concerns related to the cloud-based image processing could restrain the opportunities of global AI in Computer Vision Market to a certain extent.
Global AI in Computer Vision Market: Segmentation
The Global AI in Computer Vision Market is majorly segmented in terms of component, vertical and region. On the basis of the component, the Global AI in Computer Vision Market is divided into Hardware and Software. The software market is expected to grow at the highest CAGR in coming years due to nonprocedural languages like PROLOG and LISP which allow the systems to modify the responses according to the environment thus, reducing the volume of data in different verticals. On the basis of verticals, the Global AI in Computer Vision Market is segmented into Consumer, Sports, and Entertainment, Healthcare, Robotics and machine vision, Agriculture, Security and Surveillance and others. Amongst which the automotive market is expected to grow the highest on an account of the increased expenditure and funding for R&D to support AI.
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Global AI in Computer Vision Market: Regional Analysis
North America is anticipated to dominate the AI in computer vision market for owing to the adoption of machine vision across various industries vertical majorly the manufacturing and automotive. Integrating the surveillance systems with the video analytics solution is one of the major drivers for the growth of the market in this region. Thus, the market in North America is likely to become more lucrative which is closely followed by Europe over the forecast period.
The Asia Pacific market is projected to witness a rapid growth rate since the use of computer vision in medical image analysis, image recognition and 3D printing is growing throughout the region along with increased funding and investments for machine learning from the government.
Global AI in Computer Vision Market: Competitive Players
Some of the most important market players for AI in computer vision market are Intel, NVIDIA, Alphabet, Qualcomm, Apple, Teledyne Technologies, Microsoft, Wikitude, Xilinx, Basler, Cognex, General Electric, Facebook, and Avigilon among others.
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