According to a new report, published by KBV research, The Global Vision Transformers Market size is expected to reach $2.1 billion by 2030, rising at a market growth of 36.5% CAGR during the forecast period.
The Professional Services segment would experience a CAGR of 37.2% during (2023 - 2030). Professional services firms provide consulting and advisory services to help organizations assess their specific needs, develop ViT strategies, and identify use cases that align with their business objectives. Training and education services are essential for building in-house expertise in ViTs. Professionals and organizations receive training to understand technology, data preparation, model deployment, and ongoing management. ViTs handle sensitive data, and ensuring security and privacy is crucial.
The Media & Entertainment segment is registering maximum revenue in the Global Vision Transformers Market by Vertical in 2023; thereby, achieving a market value of $736.7 Million by 2030. ViTs can automatically generate video summaries, allowing users to comprehend the significant elements of longer video content rapidly. This is valuable for news broadcasts, educational videos, and more. ViTs are used for video analytics, such as identifying key scenes, objects, and emotions within video content. This is particularly useful for understanding audience reactions and engagement.
The Image Classification segment is experiencing a CAGR of 36.2% during (2023 - 2030). Image classification initially relied on traditional computer vision methods, such as handcrafted feature extraction and machine learning algorithms. Transfer learning became a critical approach in image classification, where pre-trained CNN models, such as VGG, ResNet, and Inception, fine-tuned on specific image classification tasks. ViTs marked a significant evolution in image classification.
The North America region is generating highest revenue in the Global Vision Transformers Market by Region in 2023 and would continue to be a dominant market till 2030; thereby, achieving a market value of $953.7 Million by 2030. The Europe region is poised to grow at a CAGR of 36.8% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 37.7% during (2023 - 2030).
Full Report: https://www.kbvresearch.com/vision-transformers-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Amazon Web Services, Inc. (Amazon.com, Inc.), NVIDIA Corporation, Google LLC (Alphabet Inc.), OpenAI, L.L.C., Synopsys, Inc., Microsoft Corporation, Qualcomm Incorporated, Intel Corporation, LeewayHertz, and Clarifai, Inc.
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