The North America AI in Computer Vision Market would witness market growth of 21.1% CAGR during the forecast period (2021-2027).
Artificial intelligence (AI) in computer vision finds its applications in facial recognition, self-driving cars, healthcare, AR and mixed reality, and information technology. AI in computer vision basically operates in three steps viz. image acquisition, image processing, and analysis & understanding of the image. The three processes together enable the enterprises to make decisions for their growth plans achievement.
The AI in computer vision market growth is accredited to the massive demand for merged reality. Virtual reality (VR) and augmented reality (AR) are pushed to the next stage of development by computer vision software so it is also called Merged Reality (MR). The VR and AR systems are able to understand the atmosphere and direct the user to keep distance from obstacles like products, walls, or other users. It can identify the eye and body movement of the user and accordingly, it adopts the VR environment and guides the directions with the help of the external environment by mapping sensors and camera. It has eye-tracking solutions and gyroscopes that position the user in a safe place.
The rate of adoption of advanced technologies like AI, cloud, machine learning, and others in North America is extremely high and continues to surge with time. As a consequence, electronics manufacturers are actively adopting machine learning and AI in computer vision in designing methods. Thus, it is expected to boost the growth of AI in the computer vision market in this region. In recent years, government interventions have been increased due to rising concerns about the security of crucial infrastructure and sensitive data. This has resulted in the higher adoption of AI in computer vision, especially in security applications. The developing industrial sector is continuously flourishing in in the region that is expected to support the AI in computer vision market in the coming years.
The US market dominated the North America AI in Computer Vision Hardware Market by Country 2020, growing at a CAGR of 18.5 % during the forecast period. The Canada market is experiencing a CAGR of 22% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 21% during (2021 - 2027).
The Supervised Learning market dominated the Canada AI in Computer Vision Market by Machine Learning Model 2020, thereby, achieving a market value of $1,472.9 million by 2027. The Unsupervised Learning & Reinforcement Learning market is expected to witness a CAGR of 25.2% 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 U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global AI in Computer Vision Market is Estimated 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.
By Offering
By Machine Learning Model
By Function
By Application
By End User
By Country
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