DUBLIN, May 16, 2018 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
The AI in computer vision market will be valued at 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.
The increasing demand for computer vision systems in non-traditional and emerging applications is a driving factor for this market. In the near future, established players are expected to benefit from building in-house application-specific AI-enabled computer vision systems. The combination of these design and development efforts with domain expertise would be useful in delivering professional services such as solution design and consulting, deployment, and integration.
The AI in computer vision market has been segmented by component, vertical, and geography. The AI in computer vision market, by component, has been segmented into hardware and software. The market for hardware is expected to grow at a higher CAGR during the forecast period. The growth can be attributed to the increasing penetration of AI-capable processors in mobile devices, such as smartphones, drones, automotive, and consumer electronics devices.
By vertical, the market has been classified into automotive, sports and entertainment, consumer, robotics and machine vision, healthcare, security and surveillance, and agriculture. The market for automotive is expected to grow at a higher CAGR during the forecast period. 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.
AI in computer vision has been widely adopted across various verticals owing to the increased quality assurance in manufacturing, and the need to reduce cost and improve response time. The consumer vertical accounted for the largest share in 2017. The addition of AI capabilities to smartphones that will help change mainly 2 aspects: user-machine interaction and context-personalized openness.
User-machine interaction will improve the efficiencies between the user and their phone across text, voice, image, video, and sensors, whereas the latter will actively provide services and aggregated information across apps, content, third-party features, and native features.
The automotive vertical is expected to witness the fastest growth during the forecast period. The increasing demand to improve road safety and reduce mishaps caused by human intervention is resulting in the growth of autonomous driving. In addition, the increasing participation of various automotive and IT giants to develop autonomous cars is flourishing the growth of autonomous driving in the AI in computer vision market during the forecast period.
The AI in computer vision market in APAC is expected to grow at the highest CAGR during the forecast period owing to the growth in India, which can be attributed to the growing investment across sectors in building data-based businesses and the recognition by the Government of India to create effective policies for AI.
The major restraint for the AI in computer vision market is the lack of awareness and technical knowledge. The increasing competition in the manufacturing sector and the growing demand of customers for better products at a competitive price have made advanced automation essential for industrial and non-industrial applications. However, various industries such as sports and entertainment, robotics and machine vision, and healthcare are not convincingly adopting AI-enabled computer vision systems because of the lack of awareness and technical expertise.
Key players in this market focus on strategic partnerships and collaborations, acquisitions, and product launches to increase revenue. NVIDIA (US) is a leading player in the AI in computer vision market, followed by Intel (US), and Apple (US). In April 2017, NVIDIA announced that its deep learning platform is now available as part of Baidu Cloud's deep learning service, giving enterprise customers instant access to the world's most adopted AI tools.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insight
4.1 Growing Impact of AI in Computer Vision
4.2 Global AI in Computer Vision Market, By Component
4.3 AI in Computer Vision Market, By Country
4.4 China to Dominate the AI in Computer Vision Market in APAC in 2018
4.5 AI Solution Software in AI in Computer Vision Market
5 Market Overview
5.2 Market Dynamics
126.96.36.199 Growing Demand for Edge Computing in Mobile Devices
188.8.131.52 Increasing Demand for Computer Vision Systems in Non-Traditional and Emerging Applications
184.108.40.206 Growing Impact of AI in Machine Vision
220.127.116.11 Rising Security Concerns Related to Cloud-Based Image Processing and Analytics
18.104.22.168 Lack of Awareness and Technical Knowledge
22.214.171.124 Development of Machine Learning Regarding Vision Technology
126.96.36.199 Increased Computing Capacity of AI Based GPUs
188.8.131.52 Premium Pricing of AI Hardware
6 AI in Computer Vision Market, By Component
6.3.1 AI Platform
6.3.2 AI Solution
7 AI in Computer Vision Market, By Vertical
7.2.1 ADAS and Infotainment
7.2.2 Autonomous and Semi-Autonomous Vehicles
7.3 Sports and Entertainment
7.3.1 Virtual Reality/Augmented Reality
7.3.2 Ball Tracking and Player Tracking
7.3.3 Commercial Insertion
7.4.4 Smart Phones
7.5 Robotics and Machine Vision
7.5.1 Quality Assurance & Inspection
7.5.2 Positioning and Guidance
7.6.2 Medical Adherence
7.7 Security and Surveillance
7.7.2 Image and Video Analytics
7.7.3 AI-Guided Drone-Based Surveillance
7.8.1 Crop Monitoring
7.8.2 Automated Irrigation System
8 Geographic Analysis
8.2 North America
8.3.5 Rest of Europe
8.4.4 South Korea
8.4.5 Rest of APAC
8.5.1 Middle East & Africa
8.5.2 South America
9 Competitive Landscape
9.2 Market Ranking Analysis: AI in Computer Vision Market
9.3 Competitive Situations and Trends
9.3.1 Product/Solution Launches, (2016-2017)
9.3.2 Partnerships/Collaborations, (2016-2017)
9.3.3 Acquisitions, (2017)
10 Company Profiles
(Business Overview, Products Offered, Recent Development, SWOT Analysis, and MnM View)*
10.1 Key Players
10.1.10 Teledyne Technologies
10.1.13 General Electric
10.2 Other Key Player
10.2.2 Irida Labs
10.2.5 Allied Vision Technologies
10.2.6 Berkeley Design
10.3 Key Innovators
10.3.1 Leap Motion
10.3.4 Ditto Labs
10.3.5 Mad Street Den
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