Verified Market Research recently published a report, “AI in Computer Vision Market” that indicates that the Global AI in Computer Vision Market size was valued at USD 7.04 Billion in 2020 and is projected to reach USD 144.46 Billion by 2028, growing at a CAGR of 45.64% from 2021 to 2028.
Global AI in Computer Vision Market Overview
Emotion AI analyses face appearances and eye trends in photographs and videos using computer vision technology to read an individual's emotional responses. Emotion AI, also known as Affective Computing, is a rapidly growing branch of Artificial Intelligence that allows machines to analyze and understand nonverbal signs provided by humans such as facial expressions, body language, gestures, and voice tones to assess their emotional state. Emotient, a world's leading authority on automated facial expression recognition and analysis acquired by apple received a patent in May for a method of collecting and classifying as many as 100,000 facial photos every day so computers can better distinguish different expressions. As a result, increased demand for AI for emotion analysis is fueling the integration of AI and computer vision, boosting market growth.
Vision systems and software are being developed for novel applications in healthcare, traffic management, security and surveillance, postal and logistics, and document processing. Established players are projected to benefit in the future by developing application-specific AI-enabled computer vision systems in-house. In addition, AI-enabled computer vision systems are becoming more popular in a variety of new applications, including unmanned aerial vehicles, missile guidance, and autonomous vehicles.AI in computer vision solutions is projected to have significant development potential in areas such as consumer electronics and security and surveillance. However, challenges associated with cloud data storage, such as data breaches, data theft, and cloud data unavailability, are becoming more prevalent which can hinder the market growth.
Key Developments in AI in Computer Vision Market
• In April 2021, NVIDIA unveiled the NVIDIA DRIVE Atlan, a next-generation AI-enabled processor for autonomous vehicles that can perform over 1,000 trillion operations per second. The NVIDIA DRIVE Atlan system-on-a-chip, which integrates AI and software with the latest in computing, networking, and security for unprecedented levels of performance and security, is the newest addition to NVIDIA's centralized compute roadmap for autonomous vehicles.
• In April 2021, NVIDIA has developed a new type of NVIDIA-Certified System, delivering AI to enterprises that use industry-standard corporate data center infrastructure to run their applications. This new class contains high-volume enterprise servers from leading manufacturers that are exclusively certified for VMware vSphere 7, the world's most commonly used compute virtualization technology and can run the NVIDIA AI Enterprise software suite.
The major players in the market are NVIDIA (US), Intel Corp. (US), Microsoft Corp. (US), IBM Corp. (US), Qualcomm (US), AWS (US), Xilinx (US), Google (US), Facebook (US), Basler (Germany).