The global Artificial Intelligence in Computer Vision Market is expected to increase rapidly, reaching a valuation of USD 45.7 billion by 2028 from its 2023 valuation of USD 17.2 billion. This remarkable expansion is the result of a compound annual growth rate (CAGR) of 21.5% over the course of the five years.

The adoption of cutting-edge technologies that incorporate artificial intelligence into computer vision applications is what's fueling the market's growth. By improving visual identification skills, this combination makes AI-powered computer vision more useful for a variety of industries, including consumer electronics, autonomous cars, and industrial automation. Artificial Intelligence (AI) in computer vision is expected to play a major role in driving technological progress in the next years due to its potential for revolutionary applications in a variety of sectors.

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A number of significant trends and disruptive forces are driving the rapid evolution of AI in computer vision. The notable advancements in deep learning, a branch of machine learning that has revolutionised AI computer vision, are one important development. AI computer vision systems now operate with far more precision and efficacy thanks to deep learning algorithms and large datasets. The growing popularity of edge computing, a distributed computing model that processes data close to its source and does away with the need to transport data to a central point for analysis, is another noteworthy trend. This method is becoming more and more common in AI computer vision because it makes vision-based applications more efficient, allows for real-time processing, and lowers latency.

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Increasing use of AI computer vision in autonomous systems

Innovation in autonomous systems, such as self-driving cars, drones, and robots, is being propelled by the growing application of AI computer vision. These systems' ability to see and understand their environment is crucial to their ability to make intelligent decisions and take independent action. AI computer vision technology plays a major part in this process. Artificial intelligence (AI) algorithms are used in self-driving automobile systems to interpret data from inbuilt cameras and sensors. In real time, these algorithms are able to quickly identify objects like traffic signals, road signs, pedestrians, and other cars. With the help of this skill, self-driving cars will be able to make important decisions on their own and ensure safe navigation without the need for human interaction.

GPU is expected to hold the highest CAGR for the hardware segment during the forecast period.

Because of their effective handling of large, complicated data sets, graphic processing units (GPUs) have become essential parts of computer systems in the consumer market. Because of their improved performance, GPUs are especially preferred over CPUs. These processors are widely used in demanding applications, primarily in 3D applications such as 3D rendering software and computer games. NVIDIA, Qualcomm, and Intel are some of the major companies in the sector; NVIDIA is setting the standard for real-time industrial inspection systems. NVIDIA GPUs are essential in the field of industrial inspection because they analyse and analyse visual data from cameras and other sensors. To perform AI vision tasks including object detection, image segmentation, and classification, as well as other tasks, many organisations in this industry rely on NVIDIA's Jetson platform. With 256 CUDA cores, the NVIDIA Pascal architecture is the foundation of NVIDIA Jetson's 256-core GPU, which guarantees excellent performance and scalability for these demanding workloads.

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AI in the computer vision market in North America to hold the highest market share during the forecast period

American startups are getting large sums of money from a variety of sources to develop artificial intelligence (AI) applications for aerial vehicles and drones that operate on their own. The nation's main objective is to solve the serious problems with autonomy, safety, and dependability that industrial drones encounter. Consequently, businesses have been at the forefront of developing cutting-edge solutions that combine deep learning and computer vision algorithms. These technologies are essential for spotting possible dangers and greatly improving the durability and functionality of industrial drones. Furthermore, the United States of America is home to numerous esteemed colleges and research centres that are making significant contributions to the field of computer vision. The advancement of this technology is being further accelerated by their research projects and programmes.

NVIDIA Corporation (US), Intel Corporation (US), Microsoft (US), IBM Corporation (US), Qualcomm Technologies Inc. (US), Advanced Micro Devices, Inc (US), Alphabet, Inc. (US), Amazon (US), Basler AG (Germany), Hailo (US), and Groq, Inc. (US). The other company profiles included in the scope are Sighthound, Inc. (US), Neurala, Inc. (US), Datagen (Israel), Graphcore (UK), Groopic (US), Ultraleap (US), Algolux (US), Athena Security (US), Snorkel AI (US), Vizseek (US), Robotic Vision Technologies (US), AMP Robotics (US), CureMetrix (US), and Creative Virtual (UK) are among the many players in the AI in Computer Vision Market.

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