The AI in Computer vision ecosystem is expected to witness ~22% CAGR in every sector like Automotive, Sports and Entertainment, Consumer, Robotics and Machine Vision, Healthcare, Security and Surveillance, Agriculture, and Others.
Dublin, United States – January 7, 2020 /MarketersMedia/ —
According to the AlltheResearch analysis, the key players of the AI in Computer vision industry are Cognex Corporation, Omron Corporation, Intel Corporation, Basler AG and Google LLC. The computer vision technology has wide range of application in various industries like Retail, Automotive, Sports and Entertainment, Consumer, Robotics and Machine Vision, Healthcare, Security and Surveillance, Agriculture, Others etc. Currently retail giants like Amazon have deployed computer vision technology on the “Amazon Go” retail stores.
Computer vision is the field of computer science that has the capability to replicate the same complexity as in the humans vision .The computers identify and process the information using pre-programmed powerful software The major driving factor behind the growth of computer vision is the wide range of diversified application and the power of data generated in day to day life. The accuracy rates of object detection have been increasing with an increase in new hardware and algorithms in computer vision.
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AI in Computer vision: Segmentation
By Devices: Smartphones, Drones, Automotive, Consumer electronic, Others
By Components: Hardware, Software.
By Deployment: Cloud, On-Premise
By End User: Automotive, Sports and Entertainment, Consumer, Robotics and Machine Vision, Healthcare, Security and Surveillance, Agriculture, Others.
The Computer vision technology in smartphone drives the market by continues investments from the major OEMs like Apple, Samsung, Huawei, and Google etc.. The Social media platform Pinterest lens was launched in 2017 and they have partnered with the retail giant “Target” to develop their e-commerce platform. Canada based company “MetaOptima”, introduces Molescope app to diagnose the skin infections more accurately. It uses Computer vision and Machine Learning to accurately diagnose the skin infection and directs the user to the dermatologist for further enhanced treatment. Skinvision from Netherlands and SkinIO from Chicago are some of the other companies that provide similar solutions for skin diseases.
In Automotive, Waymo LLC have introduced more advanced features that can detect the traffic lights, stop signs, pedestrians etc and it has deployed its own hardware and software for partial automated cars. Computer vision hardware and software manufacturers also focus on developing industry specific application and such measures allow these companies to stay competitive in the market. The AI in Computer vision ecosystem is expected to witness ~22% CAGR.
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Further the cosmetics industry also leverages Computer vision to provide an enhanced and more personalized solutions to its customers. “Olay Skin Advisor” is a mobile app that uses computer vision to scan and analyze the face. Based on the uploaded image, the beauty advisor app recommends more personalized beauty products.
North America is one of the fastest growing regions in AI in Computer vision ecosystem. In 2020, Ford Edge model will feature artificial intelligence as a part of its wheel-drive system. The integration of video analytics solution that provides enhanced ADAS solutions. Especially, in the US, more than 500 start-up companies emerge in Computer vision. The average valuation of these companies accounts to $5.2Mn. The funding for these companies is expected to rise in future, these are some of the factors that drives the growth of Computer vision in the country.
In Asia-Pacific, the adoption of Computer vision in healthcare has a positive impacts in the field of Radiology. The diagnosis becomes easier and more accurate for the radiologists. Government funds and investment is increasing in this market.
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