The Asia Pacific AI in Computer Vision Market would witness market growth of 24.7% CAGR during the forecast period (2021-2027).
Computer vision is mainly driven by artificial intelligence. AI is an advanced technology that guides the computers how to analyze images based on the recognition of patterns/objects. The introduction of deep learning techniques made computer vision systems capable of replicating human vision more efficiently. For example, AI-aided surveillance in the healthcare industry is used in cranial imaging to examine acute neurologic events and thus, helps in the detection of neurological illnesses. There are many other fields where AI in computer vision finds its application. Some of them are biometric analysis in security, disease diagnoses in healthcare, quality examination in manufacturing, and obstacle detection, and transportation for guiding autonomous vehicles.
The advent of computer vision technology in other devices like smartphones is mainly fuelled by high number of investments in AI techniques by key OEMs such as Samsung, Apple, Huawei, and Google. The next-generation smartphones are leveraged with advanced features like advanced cameras that have higher resolutions capable of capturing more data. This feature helps in the improvement of the overall accuracy of visual recognition and thus enhances the dependability of facial recognition. In recent years, such developments are widely promoted such as Google worked on the first global tango-enabled smartphone namely Lenovo Phab 2 and ASUS ZenFone AR.
In the Asia-Pacific region, there is a high use of smartphone penetration and the popularity of smart wearable devices leveraged with AR and VR is also high. Thus, electronic manufacturing companies in countries such as China, India, and Japan are adopting automation and other advanced technology to increase the production of such devices. Government organizations in developing countries are supporting the adoption of AI and ML across various industrial verticals. This is likely to enhance productivity in the various electronic manufacturing sectors that, in turn, contribute to economic development. The increasing demand to incorporate the Industry 4.0 and the implementation of advanced manufacturing techniques for increasing automation in various applications in India will also drive the demand for AI in computer vision in this region. Moreover, the significant contribution from China, India, and South Korea and the growth of AI in the computer vision would drive the regional market during the forecast period.
The China market dominated the Asia Pacific Unsupervised Learning & Reinforcement Learning AI in Computer Vision Market by Country 2020, growing at a CAGR of 23.8 % during the forecast period. The Japan market is showcasing a CAGR of 25.5% during (2021 - 2027). Additionally, The India market is anticipated to witness a CAGR of 27% during (2021 - 2027).
The Non-industrial market dominated the Malaysia AI in Computer Vision Market by Application 2020, thereby, achieving a market value of $631.2 million by 2027. The Industrial market is expected to witness a CAGR of 30.1% during (2021 - 2027).
Based on Offering, the market is segmented into Software and Hardware. Hardware segment is further bifurcated across Processor, Memory and Storage. Based on Machine Learning Model, the market is segmented into Supervised Learning and Unsupervised Learning & Reinforcement Learning. Based on Function, the market is segmented into Inference and Training. Based on Application, the market is segmented into Non-industrial and Industrial. Based on End User, the market is segmented into Consumer Electronics, Automotive, Retail, Healthcare, Security & Surveillance, Manufacturing and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide AI in Computer Vision Market is Projected to reach USD 56.3 Billion by 2027, at a CAGR of 22.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include NVIDIA Corporation, Intel Corporation, Microsoft Corporation, IBM Corporation, Qualcomm, Inc., Amazon.com, Inc., Xilinx, Inc., Google, Inc., Facebook, Inc., and Basler AG.
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