AI in Computer Vision Market to Reach $51.3 Billion by 2026, Growing at 26.3% CAGR

Strategic Insights -

The AI in Computer Vision Market is estimated to be valued at USD 15.9 billion in 2021 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 26.3% during the forecast period (2021-2026), reaching USD 51.3 billion by 2026, according to a new market research report by MarketsandMarkets. The growing need for quality inspection and automation, increasing demand for computer vision systems in non-traditional and emerging applications, and rising need for ASICs and government initiatives to support industrial automation and integration of AI into the edge devices are driving the growth of the AI in Computer Vision Market.

Key Takeaways:

  • The Software segment is projected to witness the highest CAGR for the forecast period, growing at 28.5% from 2021 to 2026.
  • Software tools, combined with a suite of computer vision software, allow an individual to interface with a camera and a production line and automatically perform image improvement, location analysis, flaw detection, character verification, character recognition, symbol recognition, and several other functions.
  • The Non-Industrial segment is expected to account for the largest share of the AI in Computer Vision Market during the forecast period, driven by the growing demand for camera-enabled smartphones at both front and rear ends.
  • Supervised Learning will have the highest growth in the coming years, expected to account for ~84% share of the overall AI in Computer Vision Market by 2026.
  • The Consumer Electronics segment is expected to hold the largest share in 2026, driven by the increasing demand for AI-enabled computer vision systems in consumer electronics such as smartphones, desktops, and laptops.
  • The APAC region is expected to grow at the highest CAGR in the AI in Computer Vision Market during the forecast period (2021-2026), attributed to the growing demand for camera-enabled smartphones and the increasing adoption of Industry 4.0 in countries such as China, Japan, and South Korea.
  • The North America region is expected to hold the largest share of ~40% of the global AI in Computer Vision Market in 2021, driven by the presence of prominent AI technology providers such as IBM, Google, Microsoft, NVIDIA, Intel, and Facebook.

Statistics:

  • USD 15.9 billion (2021 est.)
  • USD 51.3 billion (2026 est.)
  • CAGR of 26.3% (2021-2026)
  • Software segment growth: 28.5% CAGR (2021-2026)
  • Non-Industrial segment share: ~44% (2026 est.)
  • Supervised Learning share: ~84% (2026 est.)
  • APAC region growth: 29.5% CAGR (2021-2026)
  • North America region share: ~40% (2021 est.)

Sources:

  • MarketsandMarkets(TM), "AI in Computer Vision Market With Covid-19 Impact by Component, Machine Learning Models, Function, Application (Industrial, Non-Industrial), End-Use Industry (Security & Surveillance, Consumer Electronics) and Geography - Global Forecast to 2026"
  • MarketsandMarkets(TM), "3D Machine Vision Market with COVID-19 Impact Analysis by Offering (Hardware and Software), Product (PC-based and Smart Camera-based), Application, Vertical (Industrial and Non-Industrial) & Geography - Global Forecast till 2025"
  • MarketsandMarkets(TM), "Machine Vision Market with COVID-19 Impact Analysis by Deployment (General & Robotic cell), Component (Hardware and Software), Product (PC-based and Smart camera-based), Application, End-user Industry & Region - Forecast to 2025"