AI in Computer Vision Market Analysis

AI in Computer Vision Market Analysis

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Based on components, the hardware segment dominated around USD 4.6 billion revenue in 2023. A vast variety of hardware elements, including processors, cameras, lenses, frame grabbers, and LED lights, are included in this sector. The accessibility of cutting-edge hardware platforms that provide simple component connections and advanced features like quick processing, multi-megapixel resolution, and fully digital data management are influencing its adoption.
 

Based on application, the AI in computer vision market size from predictive maintenance segment is forecasted to cross USD 9 billion by 2032. In order to monitor the data from machinery and related components, predictive maintenance uses machine learning algorithms in conjunction with IoT (Internet of Things) sensors. To make informed decisions before an asset or component fails, it usually uses sensors for data point collecting and signal detection. It is projected that increased innovation and investment in cloud computing, IoT, and AI will accelerate market growth.
 

Based on end-use, the manufacturing segment share in the AI in computer vision market was more than USD 1.8 billion in 2023. The manufacturing sector makes substantial use of automation and robotics solutions. There is an increasing demand for intelligent systems to monitor industrial processes and outcomes as manufacturing facilities advance toward completely automated production. Machine vision, a subset of computer vision, is contributing to the advancement of industrial processes as the Internet of Things revolutionizes the manufacturing sector and increases its autonomy.
 

Regionally, North America AI in computer vision market size is projected to surpass USD 8.2 billion by 2032. With increasing technological upgrades in the industrial sector and its ability to help users identify defective gear, the North America market is expected to grow over the coming years. In order to monitor operations and prevent issues that are not immediately apparent, manufacturers use AI-incorporated smart cameras in manufacturing facilities.