AI in Computer Vision Market Set to Reach USD 206.33 Billion by 2030: Innovations Driving Lucrative Opportunities Amid Regulatory and Trade Challenges

As per the report published by Kings Research, the global AI in Computer Vision Market was valued at USD 17.42 billion in 2022. The market is projected to reach USD 206.33 billion by 2030, growing at a CAGR of 37.05% from 2023 to 2030.

The AI in computer vision market has experienced a significant increase in the use of artificial intelligence (AI) applications to develop innovative solutions across various sectors. AI is being used to enhance computer vision-based systems by enabling real-time analysis of movements, image recognition, remote quality control, and inspection in the manufacturing sector. The development of advanced vision systems and software would further propel the market growth.

North America, Europe, and Asia Pacific are the prominent regions that are observed to experience exponential growth and developments in terms of technology, and other business-related activities such as strategic collaborations, acquisitions, and mergers.

Key Insights

• Based on the offering, the software segment held the largest market share in 2022
• Based on application, the non-industrial segment accounted for 71% of the segment’s share in 2022.
• Based on the end-user industry, the consumer electronics segment dominated in 2022.
• Based on the ML Model, the supervised learning segment accrued more than USD 8.81 billion in revenue in 2022.
• On the basis of region, North America accounted for USD 94.69 billion, which was the largest market share in 2022

Merger of Basler AG and Silicon Software GmbH

May 2021 - Basler AG announced this week that it has completed the merger of Silicon Software GmbH into its group structure. Basler, which was acquired by Silicon Software in 2018, was managing the subsidiary as an independent entity.

Development of Innovative Solutions and Services to Create Lucrative Opportunities for the Market

AI computer vision presents numerous opportunities for various sectors, including healthcare, automotive, retail, agriculture, and law enforcement. In healthcare, it can facilitate disease detection, patient monitoring, and image analysis like radiology. For the automotive industry, self-driving cars rely on AI computer vision applications for object recognition, obstacle detection, and decision-making capabilities. Retail can use AI in computer vision to manage inventory, detect facial recognition, and improve overall security.

Agriculture can increase yield and improve farming practices through the use of AI computer vision. Law enforcement agencies can leverage AI computer vision to enhance surveillance and improve public safety to detect and identify suspected criminals. The broad range of potential applications signifies the immense opportunities for AI computer vision in various industries. Further development of these applications, along with increasing investments in R&D will support the expansion of the market.

Adoption of Digitalization to Further Propel the Market Growth

Digitalization plays a critical role in facilitating the growth and innovation of AI in computer vision. The increasing availability of digital data and images creates new opportunities for AI systems to learn and improve their performance, especially with the advancements in machine learning technologies. Penetration of digitalization especially in developing countries would encourage the growth of the market during 2023-2030.           

Surging Demand for Precise Technology and Integration of AI and Computer Vision in Key Industries Drive Dominance of North America in Global Market

In 2022, North America dominated the regional share in terms of revenue, accounting for USD 7.40 billion and a 42% share of the global value. Established IT & Telecom, automotive, consumer electronics amongst other industries has propelled the demand for better, efficient, and precise technology in the region. These industries are observed to be attracting AI and computer vision companies for solutions and services for the integration of data and analytics through AI and computer vision.

Presence of Automotive Manufacturers and Preference for Automation Edge Europe's Growth in Global Market

Europe accounted for the second-highest revenue share followed by North America. In 2022, Europe accrued 30% of the global share owing to the presence of the majority of automotive manufacturers in the region. Demand from the automotive industry was observed to be the largest due to a shift toward a preference for automation in manufacturing, monitoring, and other industrial processes. Germany and U.K. experienced the highest revenue and growth rate in recent years and are anticipated to further contribute.

Increasing Focus On Strategic Partnerships and Mergers for Sustainting Growth

The market is consolidated/fragmented with significant players in the market, such as NVIDIA Corporation, Intel Corporation, IBM, Microsoft, Basler AG, Qualcomm Technologies, Inc., TEC Competence GmbH & Co. KG, Advanced Micro Devices, Inc., AWS,, and others, are concentrated on expanding their business through collaboration and partnership strategies.