The Europe AI in Computer Vision Market would witness market growth of 21.9% CAGR during the forecast period (2021-2027).
Computer vision systems are beneficial in improving the security of high-value assets. It takes help of the biometric scanning and facial recognition systems to offer advanced security. For smartphones security, facial recognition is the most popular use-case. Computer vision systems are able to identify various patterns in the irises and retinas of humans. Moreover, the adoption of facial recognition in businesses or residential security systems is considered the more advanced use-cases of this technology. It is capable of recognizing the individuals’ physiological features based on which identity is verified. To control access to high-security areas including bank vaults and research labs, fingerprint analysis is also used.
Europe is expected to hold a considerable share of AI in the computer vision market in the coming years. The major contributors to the AI in the computer vision market in this region include Germany and the UK. The automotive industry in the UK has significant contribution towards the growth of the AI in computer vision market.
The European AI in the computer vision market is an advanced market that is growing at a significant pace. The increasing adoption of 5G technologies, AI, Internet of Things (IoT), and machine learning in this region would propel the demand & growth of the market. In addition, the robust wireless infrastructure and increasing support of the government for the development of IoT-based technologies are the main driving factors of the regional market. In addition, the increased demand for smartphones, laptops, tablets in the UK have a direct impact on the demand for AI in computer vision in this region. In 2019, the UK registered the maximum smartphone penetration across the globe.
The Germany market dominated the Europe AI in Computer Vision Memory Market by Country 2020, growing at a CAGR of 17.3 % during the forecast period. The UK market is exhibiting a CAGR of 17.7% during (2021 - 2027). Additionally, The France market is poised to grow at a CAGR of 19.5% during (2021 - 2027).
The Inference market dominated the Russia AI in Computer Vision Market by Function 2020, thereby, achieving a market value of $1,330.6 million by 2027. The Training market is expected to witness a CAGR of 22.9% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global AI in Computer Vision Market Size will Hit $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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