DELRAY BEACH, Fla., Oct. 10, 2024 /PRNewswire/ — The global AI vision market is expected to reach USD 43.02 billion in 2029 from USD 14.85 billion in 2024, at a CAGR of 23.7% during the forecast period according to a new report by MarketsandMarkets™. Al vision market is expanding during the forecasted period, driven by the increase in employment of machine learning and generative Al in multiple verticals. In healthcare, machine learning and generative Al provide the ability to improve the diagnostic accuracy of imaging and the use of data for patient monitoring. For In-store and e-commerce solutions, retailers have also adopted Al vision solutions for better inventory management and personnel shopper experience. In logistics and transport, Al Vision Solutions is adapted to focus on the real-time monitoring and automation of systems. Al Vision Solutions also helps monitor work sites and manage job sites in the construction sector. Thus, the rising demand for these technologies in various verticals is driving the Al vision market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=33244653
Browse in-depth TOC on “AI Vision Market” 225 – Tables
58 – Figures
240 – Pages
AI Vision Market Report Scope:
| Report Coverage | Details |
| Market Revenue in 2024 | $ 14.85 billion |
| Estimated Value by 2029 | $ 43.02 billion |
| Growth Rate | Poised to grow at a CAGR of 23.7% |
| Market Size Available for | 2020–2029 |
| Forecast Period | 2024–2029 |
| Forecast Units | Value (USD Million/Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Offering, By Service Type, By Technology, By mode of Operation, By Vertical, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of World |
| Key Market Challenge | Complexities associated with maintenance and upgrades |
| Key Market Opportunities | Growing demand for Optical Character Recognition technology from AI vision system providers |
| Key Market Drivers | Growing inclination toward cloud computing |
The image recognition segment is expected to have the largest market share in the forecast period.
The image recognition market is poised for the largest market share due to its ability to automate and streamline visual data analysis across industries. Technologies like Amazon Rekognition enhance efficiency in tasks such as security and retail management. Growing demand for AI-driven solutions and advancements in machine learning are driving this expansion. The technology’s versatility makes it highly valuable for diverse applications, fueling its widespread adoption and growth.
The machine learning segment is dominating in AI vision market.
The market for machine learning is projected to hold the dominant position within the Al vision space, as this type of technology allows systems to learn and improve in real-time from large amounts of visual data. The technology improves the accuracy of visual analysis, automates complex tasks, and removes humans from the process entirely (e.g, object detection and facial recognition). The recent improvements in deep learning and convolutional neural networks, along with machine learning’s capability to expand the function of Al vision technology in general, are leading to substantially more industrial applications of Al vision technology in sectors including healthcare—manufacturing, retail, and security.
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=33244653
US in the North America region to dominate the AI vision market during the forecast period.
The Al vision industry in the US is positioned to be the leading part of North America due to significant federal investment, considerable technological innovation from the major tech companies, and the advancement of Al research and development. The establishment of several new Al Research Institutes and the commitment to funding for Al manufacturing all contribute to the US government’s intent of advancing Al technology. The full spectrum of federal opportunities helps encourage collaboration among academia, Industry, and government and sustains tremendous growth in the US to facilitate growth for the Al vision market.
Key players
The AI vision companies includes significant Tier I and II players like NVIDIA Corporation (US), Microsoft Corporation (US), Intel Corporation (US), Alphabet Inc. (US), Amazon.com, Inc. (US), IBM (US), Oracle (US), Cognex Corporation (US), Qualcomm Technologies, Inc. (US), STMicroelectronics (Switzerland) are some of the key players in the AI vision market.
Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=33244653
Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
Related Reports:
Machine Vision Market Size, Share, Industry Growth, Trends & Analysis by Component (Hardware, Software), Deployment (General, Robotic Cells), Product (PC-based Machine Vision System, Smart Camera-based Machine Vision System), Application, End-user Industry and Region – Global Forecast to 2028
AI In Computer Vision Market Size, Share, Statistics, Trends and Industry Growth Analysis Report by Component (Hardware, Software), Function (Training, Inference), Application (Industrial, Non-industrial), End-use Industry (Automotive, Consumer Electronics) and Region – Global Forecast to 2028
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
1615 South Congress Ave.
Suite 103, Delray Beach, FL 33445
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/ai-vision-companies.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/ai-vision.asp
Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg
SOURCE MarketsandMarkets