MarketsandMarketsTM recently released a new market research report titled "AI in Computer Vision Market With Covid-19 Impact by Component, Machine Learning Models, Function, Application (Industrial, Non-Industrial), End-Use Industry (Security & Surveillance, Consumer Electronics) and Geography - Global Forecast to 2026". The AI in Computer Vision Market is estimated to be valued at USD 15.9 billion in 2021 and reach USD 51.3 billion by 2026; it is anticipated to grow at a CAGR of 26.3% during the forecast period (2021–2026). The increasing need for computer vision systems in novel and emerging applications, the rising requirement for ASICs, and government measures to assist industrial automation and the integration of AI into edge devices are the main factors propelling the expansion of the AI market for computer vision. The market, however, may face significant challenges throughout the forecast period due to a number of factors, including escalating security concerns regarding cloud-based image processing and analytics.

For the forecast period, software is anticipated to see the greatest CAGR.

During the projection period, software is anticipated to develop at a higher CAGR and be predicted to hold a significant share. A person can connect with a camera and a production line and perform automatic picture enhancement, position analysis, flaw detection, character verification, character identification, symbol recognition, and other tasks by using software tools in combination with a suite of computer vision software.

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During the anticipated timeframe, the non-industrial sector will hold the biggest market share for AI in computer vision.

The market for AI in computer vision, particularly in the consumer sector, is being driven by the rising demand for smartphones with cameras on the front and back ends. The industrial sector is anticipated to expand more quickly, nevertheless, as modern technologies can support a number of traffic scenario systems, such as toll collection, traffic flow monitoring, and infraction detection. In non-industrial applications like security and surveillance, postal and logistics, and intelligent transportation systems (ITS), where picture quality, dimension, and orientation are critical, 3D machine vision also has a significant growth potential. Many transportation systems, including toll collection and traffic monitoring systems, can be improved by contemporary technologies.

In the upcoming years, supervised learning will experience the fastest rise.

By 2026, supervised learning is anticipated to hold an 84% share of the market for AI in computer vision. The usage of various sensors and devices in contemporary facial recognition algorithms, as well as the expanding adoption of supervised learning in numerous healthcare applications, particularly medical imaging, contribute to the expansion of this market. Various AI services and solutions are now being developed using learning models. Recent uses of these models include connected and autonomous vehicles, expert systems, drones, computer-aided diagnosis, video games, image recognition software, and virtual assistants like Apple's Siri, Microsoft's Cortana, and Google's Google Now.

In 2026, consumer electronics is anticipated to have the biggest market share.

The market for AI-enabled computer vision systems is expanding as consumer electronics like smartphones, desktop computers, and laptops become more prevalent. However, due to the critical role that AI-enabled computer vision technology plays in applications like radiology and medical imaging, the healthcare sector is anticipated to expand at the highest CAGR during the projection period. The market for AI in computer vision for the automotive industry is expanding in addition to this due to the growing involvement of several automotive and IT titans in the development of autonomous vehicles. The usage of AI-enabled computer vision systems to recognise threats and individuals is growing in the security and surveillance sector, which is driving up demand for these solutions. The industrial sector, which is anticipated to develop at the second-highest CAGR by 2026, has expanded the application of AI in computer vision due to advancements in machine vision technologies, such as smart cameras and automation.

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The market for AI in computer vision is expected to expand at the greatest CAGR during the anticipated period in APAC (2021-2026)

The AI in computer vision market is anticipated to expand at the highest CAGR in APAC. The leading market contributors in APAC are anticipated to be nations like South Korea, China, and Japan. China's economic growth is primarily attributed to increased manufacturing activity, while India's growing demand for Industry 4.0 and advanced manufacturing techniques to increase automation across a variety of applications is a major factor in the phenomenal growth of AI in computer vision in APAC. In 2021, North America is anticipated to account for 40% of the market for AI in computer vision globally. The expansion of the local market is being complemented by the presence of major AI technology suppliers including IBM (US), Google (US), Microsoft (US), NVIDIA (US), Intel (US), and Facebook (US). Government intervention has increased in recent years due to growing worries about the security of sensitive data and key infrastructure, which has led to the adoption of AI in computer vision for security applications. In 2021, Europe is predicted to account for 29% of the market for AI in computer vision. The two countries that contribute most to the market for AI in computer vision in this area are Germany and the UK. The UK's automotive sector is helping the market for artificial intelligence in computer vision expand.

NVIDIA (US), Intel Corp. (US), Microsoft Corp. (US), IBM Corp. (US), and Qualcomm (US) controlled the AI in computer vision industry in 2020.

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