With a predicted revenue of USD 17.2 billion in 2023 and projected growth of 21.5% CAGR to reach USD 45.7 billion by 2028, the AI in Computer Vision Market is expected to see significant expansion.

The reason for this increase is the use of artificial intelligence in computer vision, which includes both software and hardware elements. AI's capabilities in computer vision, such as inference and training, are predicted to transform a wide range of applications in both industrial and non-industrial domains. Consumer electronics and the automobile industry are two important end-use sectors fueling this expansion. The market for artificial intelligence in computer vision is expected to undergo a significant transformation due to technological improvements and growing applications in various industries, as per the worldwide projection.

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Several significant trends and upheavals in the field of artificial intelligence in computer vision are changing customer enterprises. The remarkable advancements in deep learning, a branch of machine learning that has revolutionised AI computer vision, are one noteworthy trend. With the availability of large datasets and the ongoing development of deep learning algorithms, the precision and efficacy of AI computer vision applications are increasing. The rising use of edge computing, a distributed computing paradigm that processes data closer to its source, minimising the need for central processing and lowering latency, is another significant trend. In AI computer vision, this tendency is becoming more and more common, allowing for real-time processing and improving overall effectiveness. The market is getting more competitive as demand for AI computer vision rises, forcing businesses to set themselves apart from the competition by presenting cutting-edge and distinctive solutions. AI computer vision technologies are constantly evolving due to this competitive environment.

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Increasing use of AI computer vision in autonomous systems

AI computer vision is being more and more widely used in autonomous systems, including robots, drones, and self-driving cars. This is opening up new and creative applications. AI computer vision technology is essential to allowing these systems to see and understand their environment, which gives them the ability to decide what to do and how to do it. Artificial intelligence computer vision is a vital component in the field of self-driving automobiles. Road signs, traffic signals, pedestrians, and other vehicles may all be identified in real time by the car using sophisticated algorithms that process data from cameras and sensors that are integrated into the vehicle. The car can make decisions, navigate its surroundings, and maintain safe operation without constant human intervention thanks to its real-time analysis. Thus, the incorporation of AI computer vision is propelling developments in autonomous systems, advancing robotics and transportation.

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

Graphic processing units, or GPUs, are now essential parts of computer systems in the consumer market. These processors perform better at handling complex data sets than central processing units (CPUs). GPUs are widely used to improve visual experiences in 3D applications, including computer games and 3D authoring software. GPU adoption is popular because of major processing market participants like NVIDIA, Qualcomm, and Intel. Specifically, real-time industrial inspection systems use NVIDIA's GPUs to process and analyse visual data from cameras and other sensors. Businesses use NVIDIA's Jetson platform, which has a 256-core NVIDIA Pascal GPU architecture with 256 CUDA cores, in the industrial inspection space. This high-performance platform advances industrial inspection capabilities by enabling a range of AI vision applications, such as 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

Funding for AI research and development is being extended to American startups by a variety of sources, with a focus on applications in autonomous drones and other aerial vehicles. The focus of the country is on resolving issues with industrial drone autonomy, safety, and dependability. As a result, businesses have developed creative solutions that make use of deep learning and computer vision algorithms to improve industrial drones' endurance and hazard identification skills. The drone sector is seeing a development in AI technology due to the coordinated efforts of multiple funding organisations and companies. Moreover, the strong computer vision programmes offered by US colleges and research centres actively support the ongoing advancement of this discipline.

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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