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The report "AI Vision Marketby Vision Software (API, SDK), Vision Platform,
Behavioral Analysis, Optical Character Recognition, Spatial Analysis, Image
Recognition, Heatmap Analysis, Machine Learning, Deep Learning, CNN, Generative
AI – Global Forecast to 2029" 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.
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.
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.
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US in the North America
region to dominate the AI vision market during the forecast period.
The Al vision market 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 market
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.
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