Artificial Intelligence (AI) in Computer Vision Market to see Huge Growth by 2030
The global artificial intelligence (AI) in computer vision market is anticipated to grow at a CAGR of 36.1% during the forecast period (2023-2030). AI has positively impacted almost every market including computer vision globally. There is an exponential increase in the number of companies developing and using AI across the globe. For an instance in June 2023, Meta Platforms, the parent company of Facebook and Instagram, has announced its latest AI model that promises to transform image analysis and completion. The newly developed model, named I-JEPA, boasts human-like reasoning capabilities, allowing it to fill in missing elements in images accurately. With this cutting-edge technology, Meta aims to revolutionize computer vision and unlock various possibilities across various applications. These platforms are also proving to be excellent tools for complete the incomplete work or fix the errors.
Further, companies are heavily investing in AI s entering in partnership with companies creating AI which has positively impacted AI market and the investment in AI in continuously growing. For an instance in May 2023, Everseen, provider of AI-powered computer vision and hyper automation solutions, announced that it has raised a €65 million Series A follow-on funding round led by Crosspoint Capital Partners (“Crosspoint”), a private equity firm focused on the cybersecurity, privacy and infrastructure software markets. The funding will be used to continue investment into Everseen’s computer vision AI technology and help the company scale.
Another factor supporting the market growth includes the growing adoption of strategic initiatives by various market key players. For instance, Meta has consistently demonstrated its dedication to advancing AI research by actively publishing open-source projects from its in-house research lab. The company’s CEO, Mark Zuckerberg, believes in the power of sharing research models, emphasizing that standardization drives innovation, enhances safety measures, and reduces costs. By promoting collaboration within the industry, Meta aims to lead the way in AI development and leverage the advancements made by other organizations.
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Competitive Landscape- includes Google LLC., IBM Corp., Meta Platforms, Inc. (Facebook), Apple Inc., Microsoft Corp., and Intel® Services , among others.
AI in Computer Vision Market Report Segment
By Component
- Hardware
- Software
By Application
- Industrial
- Non-industrial
By End User
- Automotive & transportation
- Healthcare
- Manufacturing
- Consumer Electronics
- Others (Security & Surveillance, Agriculture, and Retail )
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Company Profiles
- Algolux, Inc.
- Allied Vision Technologies GmbH
- Amazon.com, Inc.
- Apple Inc.
- Basler AG
- Cognex Corporation Corp.
- Datagen
- Graphcore Ltd.
- Intel® Services
- Meta Platforms, Inc. (Facebook)
- Nvidia Corporation Corp.
- Qualcomm Incorporated
- Ultraleap Ltd.
- VizSeek
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