AI in Computer Vision Market: Growth Contours
The applications of computer vision can get as diverse as
the use cases of artificial intelligence (AI) in image recognition. Image
acquisition, processing, and analysis tools and technologies have made continuous
advancements over the decades. These have unarguably extended the vision
intelligence capabilities of computers and devices such as cameras, thereby
proliferating the use of computer vision in wide range of applications, notably
in gait analysis, and facial recognition.
Advances in the science underlying convolutional neural
network architecture have made AI in computer vision smarter. One of the
rapidly emerging area in the AI
in computer vision market has been robotics. As a result, AI in
computer vision has unleashed incredible potential in the medical, healthcare,
and automotive industries, and industrial control systems.
Concurrently, there has been enormous research in harnessing
the capabilities of AI in computer vision for the panoply of applications in
manufacturing sector, object identification system, detection, navigation, and
medical image analysis. The drive for the AI in computer vision market in range
of industries stems from these R&D efforts.
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AI in Computer Vision Market: Key Drivers and Lucrative
Avenues
Growing use of AI in computer vision in drones is a key
trend that has spurred the revenue prospects of technology developers. Another
lucrative area of end-use application is in self-driving cars. The past few
years have seen some of the globally prominent automakers committing sizable
dollar R&D funds to meet the demand for next-gen automobiles. This has led
to constantly growing demand for AI in computer vision in the automotive
industry. The buzz around self-driving cars and autonomous driver assistance
systems will fuel research in expanding the application of computer vision in
the automotive sector.
Further, AI in computer vision market is witnessing vast
strides in growing applications of AI-powered surveillance systems. The
prospect is attractive industry players to leverage research in gait analysis
for meeting the needs of law enforcement agencies and organizations in the
defense sectors. The rise in demand for novel computer vision technologies for
consumer electronics is a key driver for the AI in computer vision market. For
instance, the growing use of real-world imagery in electronic gadgets and
mobile devices has boosted the demand in the AI in computer vision market.
AI in Computer Vision Market: Competition Landscape and
Key Developments
Advancements made in machine learning algorithms have
enabled players in the medical industry to leverage AI in computer vision meant
for disease diagnosis and monitoring. A case in point is the growing body of
pilot studies in demonstrating the benefits of computer vision algorithms in
detecting diabetic retinopathy. The area is replete with opportunities for
players in the AI in computer vision market to reap revenue streams in the use
of the technology in the medical industry.
Another area where technology companies with the likes of
Google are putting bets is cancer detection. Massive research are ongoing to
detect cancer in the early stages. Indeed, an effective staging of cancer will
help in reducing the morbidity and prevalence of certain cancers. This has
opened up lucrative opportunities for players in the AI in computer vision
market. A case in point is breast cancer metastasis.
Some of the key players in the AI in computer vision market
are Qualcomm, Microsoft, IBM, NVIDIA, and Intel Corporation.
AI in Computer Vision Market: Regional Landscape
North America has been a highly lucrative market. Its growth
has been underpinned by rapid advancements in AI and massive increase in the
computational power
of digital
systems. Another area that is generating huge optimism is in precision
agriculture, where drones are put to various use in optimizing the resources
for a better yield for farmers. Companies are witnessing some incredible
avenues in these applications, with incessant R&D. Asia Pacific is expected
to be a promising regional market in the near future, with burgeoning demand
for AI-powered computer vision in industrial automation.
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The study strives to evaluate the current and future growth
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regional segments are covered comprehensively:
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