AI in Computer Vision Market to Reach USD 173.82 Billion by 2032, driven by growing adoption of AI-powered vision systems in key industries

Strategic Insights -

The AI in Computer Vision Market is poised to experience significant growth over the next decade, driven by the increasing adoption of AI-powered vision systems in key industries such as healthcare, automotive, and retail. The market, which was valued at USD 24.26 billion in 2023, is expected to reach USD 173.82 billion by 2032, with a compound annual growth rate (CAGR) of 24.68% between 2024 and 2032. The US market is expected to be a significant contributor to this growth, with an estimated market size of USD 4.46 billion in 2023 and an expected reach of USD 35.49 billion by 2032, with a CAGR of 26.13%.

Key Takeaways:

  • The AI in Computer Vision Market is expected to reach USD 173.82 billion by 2032, with a CAGR of 24.68% between 2024 and 2032.
  • The US market is expected to reach USD 35.49 billion by 2032, with a CAGR of 26.13% between 2024 and 2032.
  • AI-powered imaging technologies in healthcare are driving early disease detection, precise diagnosis, and individualized treatment.
  • In the automotive sector, AI-powered vision is critical for advanced driver-assistance systems (ADAS) and autonomous vehicles.
  • Leading market players include NVIDIA Corporation, Intel Corporation, Facebook, Microsoft Corporation, Qualcomm, AWS, Xilinx, BASLER AG, IBM Corporation, and Google.
  • The market is segmented by component (hardware, software), application (industrial, non-industrial), function (training, inference), and end-use (automotive, healthcare, retail, security, and automation).
  • Key drivers include the growing integration of AI-powered vision systems, expanding applications in smart retail and surveillance, and increasing demand for automation, facial recognition, and smart surveillance.

Statistics:

  • Market Size in 2023: USD 24.26 Billion
  • Market Size by 2032: USD 173.82 Billion
  • CAGR: 24.68% from 2024 to 2032
  • US Market Size in 2023: USD 4.46 Billion
  • US Market Size by 2032: USD 35.49 Billion
  • CAGR for US Market: 26.13% from 2024 to 2032
  • Non-Industrial Sector Market Share in 2023: 53.60%
  • Industrial Sector Market Growth Rate: 26.15%
  • Software Segment Market Share in 2023: 62.40%
  • Hardware Segment Market Growth Rate: 26.36%
  • Asia Pacific Market Share in 2023: 38.40%
  • North America Market Growth Rate: 26.84%

Sources:

  • SNS Insider pvt ltd, "AI in Computer Vision Market Report" (no date provided)
  • SNS Insider pvt ltd, "Purchase Single User PDF of AI in Computer Vision Market Report" (no date provided)
  • NVIDIA Corporation (no date provided)
  • Intel Corporation (no date provided)
  • Facebook (no date provided)
  • Microsoft Corporation (no date provided)
  • Qualcomm (no date provided)
  • AWS (no date provided)
  • Xilinx (no date provided)
  • BASLER AG (no date provided)
  • IBM Corporation (no date provided)
  • Google (no date provided)
  • Ocrolus (no date provided)
  • Cognex (no date provided)