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North America AI in Computer Vision Market Forecast to 2030
North America AI in Computer Vision Market Forecast to 2030 – Regional Analysis – by Component (Software and Hardware) and End Use Industry (Security and Surveillance, Manufacturing, Automotive, Retail, Sports and Entertainment, and Others)
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Description
Growing Adoption of Industry 4.0 Fuels North America AI in Computer Vision Market
Industry 4.0 is a new phase of the industrial revolution—the digital transformation of manufacturing and related industries—that highly emphasizes automation, interconnectivity, real-time data, and machine learning. By combining Industry 4.0 with automation systems, traditional industrial facilities are gradually evolving into smart, connected, and highly efficient automated facilities. It forms a single automated unit that combines computers and industrial automation solutions with the help of robotics. A network of connected devices creates a smart architecture capable of making decentralized decisions. The increasing adoption of AI-based computer vision solutions among Industry 4.0 companies is expected to improve warehouse safety, allow companies to achieve higher levels of lean manufacturing, and increase productivity and profitability while lowering long-term costs. Furthermore, AI computer vision is transforming Industry 4.0 by enabling automated vehicles to interpret and understand visual information. Combining artificial intelligence and computer vision is like having a team of superpowered robots working in the warehouse and logistics operations. These robots can analyze, see, and make decisions based on what they observe. This results in a more accurate, efficient, and streamlined workflow, leading to increased profitability and productivity. In a warehouse and logistics setting, these robots can perform tasks such as quality control, object recognition and identification, picking and packing, and inventory management. They help work at a faster pace and eliminate the possibility of human error, making sure that the right products reach the right customers on time and ensuring the smooth flow of operations. AI computer vision revolutionizes industry processes by reducing human error, automating tasks, increasing productivity, enabling intelligent decision-making based on real-time data, and ensuring product quality. There are several applications of AI computer vision systems in automation for Industry 4.0. With computer vision, it measures products’ quantities precisely and quickly, reduces costs and timelines, avoids human contact in particular processing to eliminate contamination risks, and guarantees better safety standards to employees. AI computer vision is fast growing in the industrial world because it offers integrable solutions in the production lines. A computer vision system can perform several operations, including monitoring products, analyzing possible defects, performing predictive maintenance to avoid malfunctions and interruptions, and improving safety on production sites. Thus, with the growing adoption of Industry 4.0, the demand for AI in computer vision is increasing.
North America AI in Computer Vision Market Overview
The North America AI in computer vision market is growing significantly as governments in this region are taking various initiatives to develop AI-related solutions. For instance, in February 2019, by signing Executive Order 13859, the president of the US launched the American Artificial Intelligence Initiative, the US’s national strategy for maintaining American leadership in AI. The American AI Initiative is focused on the resources of the Federal Government in the reinforcement of AI innovation that will increase prosperity, improve quality of life, and enhance national security. In the past years since the signing of the Executive Order, the US has achieved significant progress in achieving the national strategy’s objectives. The Initiative emphasizes on the following key policies and practices: invest in AI research and development, unleash AI resources, remove barriers to AI innovation, embrace trustworthy AI for government services and missions, promote an international environment supportive of American AI innovation, and train an AI-ready workforce.
Furthermore, various companies in North America are taking initiatives such as partnerships and product launches. For example, in May 2022, Invisible AI announced a partnership with Toyota Motor North America (TMNA). As per this partnership, TMNA will integrate Invisible AI’s innovative computer vision platform across its 14 North American manufacturing operations. The partnership aims to install a ground-breaking computer vision platform across North America. Similarly, in September 2022, Amazon Web Services (AWS) and SK Telecom announced at the Mobile World Congress (MWC) that the two companies will co-develop a new set of computer vision services in Las Vegas. This collaboration aimed to make it easier and more cost-effective for customers to use, build, and scale computer vision applications, which maintain equipment, improve facility safety, and enhance productivity.
North America AI in Computer Vision Market Revenue and Forecast to 2030 (US$ Million)
North America AI in Computer Vision Market Segmentation
The North America AI in computer vision market is segmented based on component, end use industry, and country. Based on component, the North America AI in computer vision market is bifurcated into software and hardware. The software segment held a larger market share in 2022.
In terms of end use industry, the North America AI in computer vision market is categorized into security and surveillance, manufacturing, automotive, retail, sports and entertainment, and others. The security and surveillance segment held the largest market share in 2022.
Based on country, the North America AI in computer vision market is segmented into the US, Canada, and Mexico. The US dominated the North America AI in computer vision market share in 2022.
Advanced Micro Devices Inc, Cognex Corp, General Electric Co, Intel Corp, Microsoft Corp, Qualcomm Inc, Teledyne Technologies Inc, NVIDIA Corp, BASLER AG, and International Business Machines Corp are some of the leading players operating in the North America AI in computer vision market.
Summary Info
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According to the Research Team’ research, the North America AI in computer vision market was valued at US$ 5,011.48 million in 2022 and is expected to reach US$ 51,121.71 million by 2030, registering a CAGR of 33.7% from 2022 to 2030. Edge computer vision and increased manufacturing of autonomous vehicles are among the critical factors attributed to the North America AI in computer vision market expansion.
Traditionally, computer vision and Al were pure cloud solutions due to their easy scalability to increase resources and the unlimited availability of computing resources. Cloud or web computer vision solutions need to upload all images to the cloud, either using a computer vision API such as AWS Rekognition, Microsoft image recognition API (Azure Cognitive Services), Google Vision API, or Clarifai API directly. In mission-critical use cases, data unloading with a centralized cloud design is generally not possible because of technical (latency, connectivity, bandwidth, redundancy) or privacy reasons (sensitive data, security, legality) or because it is too expensive (large-scale, high-resolution, bottlenecks cause cost spikes, real-time). Hence, edge computing concepts are used to overcome the limits of the cloud; the cloud is continued to multiple connected edge devices. Edge Al, also called on-device ML or Edge Intelligence, uses the Internet of Things (IoT) and edge computing to move machine learning from the cloud to edge devices in equal proximity to the data source, including cameras. With the enormous, still exponentially growing amount of data generated at the edge, Al is required to understand and analyze data in real time without compromising the security and privacy of visual data. Edge computing offers unique benefits, including greater security, real-time insights, and faster processing, making it an essential tool for computer vision applications. A major benefit of Edge computer vision is its facility to operate in real-time, making it well-suited to security, robotics, and surveillance applications. Therefore, edge computer vision is anticipated to be a trend for the AI in computer vision market.
On the contrary, high cost of procuring and complexity of implementing AI-Based computer vision solutions hurdles the growth of North America AI in computer vision market.
Based on component, the North America AI in computer vision market is bifurcated into software and hardware. The software segment held 59.8% share of North America AI in computer vision market in 2022, amassing US$ 2,998.60 million. It is projected to garner US$ 32,172.97 million by 2030 to expand at 34.5% CAGR during 2022–2030.
In terms of end use industry, the North America AI in computer vision market is segmented into security and surveillance, manufacturing, automotive, retail, sports and entertainment, and others. The security and surveillance segment held 28.0% share of North America AI in computer vision market in 2022, amassing US$ 1,403.41 million. It is projected to garner US$ 14,538.34 million by 2030 to expand at 33.9% CAGR from 2022 to 2030.
Based on country, the North America AI in computer vision market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 84.3% share of North America AI in computer vision market in 2022. It was assessed at US$ 4,225.68 million in 2022 and is likely to hit US$ 44,085.32 million by 2030, exhibiting a CAGR of 34.1% during 2022–2030.
Key players operating in the North America AI in computer vision market are Advanced Micro Devices Inc, Cognex Corp, General Electric Co, Intel Corp, Microsoft Corp, Qualcomm Inc, Teledyne Technologies Inc, NVIDIA Corp, BASLER AG, and International Business Machines Corp, among others.
In February 2023, AMD has announced the acquisition of Xilinx, a semiconductor provider based in the US. Following the acquisition, Xilinx will now operate as a part of AMD’s adaptive and embedded computing group. Both companies offer complementary products having differentiated IP and workforce. Working together, AMD and Xilinx would be able to deliver far broader products and solutions catering to every need for computing solutions.
In April 2020, Cognex launched the In-Sight D900 embedded vision system, which is the first-of-its-kind solution; the In-Sight D900 features Cognex’s ViDi deep learning software inside an In-Sight industrial-grade smart camera.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in the North America AI in computer vision market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the North America AI in computer vision market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America AI in Computer Vision Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 Hardware Component Providers:
4.3.2 Software Developers:
4.3.3 System Integrator:
4.3.4 End Use Industry:
4.3.5 List of Vendors in Value Chain
5. North America AI in Computer Vision Market – Key Industry Dynamics
5.1 AI in Computer Vision Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Growing Adoption of Industry 4.0
5.2.2 Rising Applications in Healthcare, Agriculture, and Retail Industries
5.3 Market Restraints
5.3.1 High Cost of Procuring and Complexity of Implementing AI-Based Computer Vision Solutions
5.3.2 Increase In Privacy Concerns
5.4 Market Opportunities
5.4.1 Increased Manufacturing of Autonomous Vehicles
5.4.2 Rise in Government Initiatives to Boost Development of AI-Related Technologies
5.5 Future Trends
5.5.1 Edge Computer Vision
5.5.2 Real- Time Video Analytics
5.6 Impact of Drivers and Restraints:
6. AI in Computer Vision Market – North America Market Analysis
6.1 AI in Computer Vision Market Revenue (US$ Million), 2020 – 2030
6.2 AI in Computer Vision Market Forecast and Analysis
7. North America AI in Computer Vision Market Analysis – Component
7.1 Software
7.1.1 Overview
7.1.2 Software: Market Revenue and Forecast to 2030 (US$ Million)
7.2 Hardware
7.2.1 Overview
7.2.2 Hardware: Market Revenue and Forecast to 2030 (US$ Million)
8. North America AI in Computer Vision Market Analysis – End Use Industry
8.1 Security and Surveillance
8.1.1 Overview
8.1.2 Security and Surveillance: Market Revenue and Forecast to 2030 (US$ Million)
8.2 Manufacturing
8.2.1 Overview
8.2.2 Manufacturing: Market Revenue and Forecast to 2030 (US$ Million)
8.3 Automotive
8.3.1 Overview
8.3.2 Automotive: Market Revenue and Forecast to 2030 (US$ Million)
8.4 Retail
8.4.1 Overview
8.4.2 Retail: Market Revenue and Forecast to 2030 (US$ Million)
8.5 Sports and Entertainment
8.5.1 Overview
8.5.2 Sports and Entertainment: Market Revenue and Forecast to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Market Revenue and Forecast to 2030 (US$ Million)
9. North America AI in Computer Vision Market – Country Analysis
9.1 North America
9.1.1 North America AI in Computer Vision Market Overview
9.1.2 North America AI in Computer Vision Market Revenue and Forecasts and Analysis – By Country
9.1.2.1 North America AI in Computer Vision Market Revenue and Forecasts and Analysis – By Country
9.1.2.2 US AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.2.1 US AI in Computer Vision Market Breakdown by Component
9.1.2.2.2 US AI in Computer Vision Market Breakdown by End Use Industry
9.1.2.3 Canada AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.3.1 Canada AI in Computer Vision Market Breakdown by Component
9.1.2.3.2 Canada AI in Computer Vision Market Breakdown by End Use Industry
9.1.2.4 Mexico AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.4.1 Mexico AI in Computer Vision Market Breakdown by Component
9.1.2.4.2 Mexico AI in Computer Vision Market Breakdown by End Use Industry
10. Competitive Landscape
10.1 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
11.4 Merger and Acquisition
12. Company Profiles
12.1 Advanced Micro Devices Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Cognex Corp
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 General Electric Co
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Intel Corp
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Microsoft Corp
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Qualcomm Inc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Teledyne Technologies Inc
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 NVIDIA Corp
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 BASLER AG
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 International Business Machines Corp
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About the Research Team
13.2 Word Index
LIST OF TABLES
Table 1.            AI in Computer Vision Market Segmentation
Table 2.            AI in Computer Vision: Market Revenue and Forecasts to 2030 (US$ Million)
Table 3.            AI in Computer Vision: Market Revenue and Forecasts to 2030 (US$ Million) – Component
Table 4.            AI in Computer Vision: Market Revenue and Forecasts to 2030 (US$ Million) – End Use Industry
Table 5.            North America AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 6.            US AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 7.            US AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By End Use Industry
Table 8.            Canada AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 9.            Canada AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By End Use Industry
Table 10.         Mexico AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 11.         Mexico AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By End Use Industry
Table 12.         Company Positioning & Concentration
Table 13.         List of Abbreviation
LIST OF FIGURES
Figure 1.          AI in Computer Vision Market Segmentation, By Country
Figure 2.          PEST Analysis
Figure 3.          Ecosystem: AI in Computer Vision Market
Figure 4.          Impact Analysis of Drivers and Restraints
Figure 5.          AI in Computer Vision Market Revenue (US$ Million), 2020 – 2030
Figure 6.          AI in Computer Vision Market Share (%) – Component, 2022 and 2030
Figure 7.          Software: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8.          Hardware: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9.          AI in Computer Vision Market Share (%) – End Use Industry, 2022 and 2030
Figure 10.       Security and Surveillance: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11.       Manufacturing: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12.       Automotive: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13.       Retail: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14.       Sports and Entertainment: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15.       Others: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16.       AI in Computer Vision Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 17.       AI in Computer Vision Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 18.       US AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 19.       Canada AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 20.       Mexico AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
The List of Companies – North America AI in Computer Vision Market
o Advanced Micro Devices Inc
o Cognex Corp
o General Electric Co
o Intel Corp
o Microsoft Corp
o Qualcomm Inc
o Teledyne Technologies Inc
o NVIDIA Corp
o BASLER AG
o International Business Machines Corp
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