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Europe AI in Computer Vision Market Forecast to 2030
Europe 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
Rising Applications in Healthcare, Agriculture, and Retail Industries Drive Europe AI in Computer Vision Market
The applications of AI in computer vision are rising in various industries, such as healthcare, agriculture, and retail. Healthcare is one of the leading industries applying computer vision technology. Medical image analysis creates a visualization of organs and tissues to help medical professionals make speedy and accurate diagnoses, resulting in better treatment outcomes and life expectancy. For example, tumor detection by analyzing moles and skin lesions, automatic X-ray analysis, and symptom discovery from MRI scans. Also, AI algorithms can help medical professionals analyze various imaging documents such as X-rays and magnetic resonance images to detect anomalies and problems and help with better diagnoses. For example, computer visions are trained with large datasets to identify problems in mammograms that can detect breast cancer.
Further, agriculture is not traditionally associated with cutting-edge technology. However, outdated methodologies and tools are slowly being phased out from farmlands worldwide. Today, farmers are leveraging computer vision to enhance agricultural productivity. Companies specializing in agriculture technology are developing advanced computer vision and artificial intelligence models for sowing and harvesting purposes. These solutions are also useful for weeding, detecting plant health, and advanced weather analysis. Computer vision has numerous existing and upcoming applications in agriculture, including drone-based crop monitoring, automatic spraying of pesticides, yield tracking, and smart crop sorting and classification. These AI-powered solutions scan the crops’ shape, color, and texture for further analysis.
Moreover, while interaction-free shopping experiences were always the inevitable future, the COVID-19 pandemic certainly helped speed up the retail industry’s adoption of computer vision applications. Today, tech giants such as Amazon are actively exploring how retail can be revolutionized using AI vision to allow customers to “take and leave.” Retail stores are already embracing computer vision solutions to monitor shopper activity, making loss prevention non-intrusive and customer-friendly. Computer vision is also being used to analyze customer moods and personalize advertisements. Apart from this, AI-driven vision solutions are being used to maximize ROI through customer retention programs, inventory tracking, and the assessment of product placement strategies. Therefore, rising applications in healthcare, agriculture, and retail industries is driving the market.
Europe AI in Computer Vision Market Overview
Industry 4.0 is significantly growing in Europe. Digital innovations are changing the way, companies are designing, producing, commercializing, and generating the value from products and related services. Advances in technologies, such as Artificial Intelligence (AI), cloud computing, 5G, Internet of Things (IoT), robotics, and data analytics, are transforming processes, products, and business models and ultimately reshuffling global value chains in all sectors in Europe. To maintain their competitive edge, European companies in any field have to fully embrace digitization not only by making the best use of the latest digital technologies but also by integrating digital innovations as important elements of their development strategies. Thus, the growing implementation of Industry 4.0 is boosting the market growth.
Europe AI in Computer Vision Market Revenue and Forecast to 2030 (US$ Million)
Europe AI in Computer Vision Market Segmentation
The Europe AI in computer vision market is segmented based on component, end use industry, and country. Based on component, the Europe 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 Europe 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 Europe AI in computer vision market is segmented into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Germany dominated the Europe 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 Europe AI in computer vision market.
Summary Info
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According to the Research Team’ research, the Europe AI in computer vision market was valued at US$ 4,116.09 million in 2022 and is expected to reach US$ 37,395.38 million by 2030, registering a CAGR of 31.8% from 2022 to 2030. Increased manufacturing of autonomous vehicles and increase in privacy concerns are among the critical factors attributed to the Europe AI in computer vision market expansion.
Computer vision is a fundamental technology for developing autonomous or self-driving vehicles. It provides the necessary perception capabilities, enabling vehicles to navigate and operate safely without human intervention. Computer vision algorithms can interpret complex visual data, including traffic signs, lane markings, traffic lights, and road conditions. This allows autonomous vehicles to make informed decisions about their movements and adjust their behavior accordingly. Computer vision is at the center of autonomous vehicle technology. By leveraging object detection algorithms while also using the latest cameras and sensors, autonomous vehicles get to identify their surroundings, making the entire driving process safer. Computer vision models allow autonomous vehicles to stop before they hit walkers or cyclists. Various companies are launching new autonomous vehicles. For instance, In February 2021, Luxury carmaker Jaguar Land Rover announced the opening of three new engineering hubs to develop autonomous vehicle technologies in Europe as part of its partnership with Silicon Valley artificial intelligence company Nvidia (NVDA.O). The hubs in Munich, Bologna, and Madrid develop self-driving systems for JLR’s next generation of luxury vehicles. Therefore, the increasing manufacturing of autonomous vehicles is anticipated to provide growth opportunities 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 Europe AI in computer vision market.
Based on component, the Europe AI in computer vision market is bifurcated into software and hardware. The software segment held 57.3% share of Europe AI in computer vision market in 2022, amassing US$ 2,360.41 million. It is projected to garner US$ 22,551.69 million by 2030 to expand at 32.6% CAGR during 2022–2030.
In terms of end use industry, the Europe 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 29.1% share of Europe AI in computer vision market in 2022, amassing US$ 1,197.32 million. It is projected to garner US$ 10,802.06 million by 2030 to expand at 31.6% CAGR from 2022 to 2030.
Based on country, the Europe AI in computer vision market has been categorized into Germany, the UK, France, Italy, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 30.1% share of Europe AI in computer vision market in 2022. It was assessed at US$ 1,237.71 million in 2022 and is likely to hit US$ 12,504.35 million by 2030, exhibiting a CAGR of 33.5% during 2022–2030.
Key players operating in the Europe 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 March 2023, Intel labs advanced computer vision development with two new AI models. VI-Depth 1.0 and MiDaS 3.1 open-source AI models improve depth estimation for computer vision. In March 2023, Microsoft announced a renaissance in computer vision AI with Microsoft’s Florence Foundation model. The company announced the public preview of Microsoft’s Florence foundation model, trained with billions of text-image pairs, and integrated as cost-effective, production-ready computer vision services in Azure Cognitive Service for Vision.
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 Europe 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 Europe market trends and outlook coupled with the factors driving the Europe 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. Europe AI in Computer Vision Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 Hardware Component Providers:
4.2.2 Software Developers:
4.2.3 System Integrator:
4.2.4 End Use Industry:
4.2.5 List of Vendors in Value Chain
5. Europe 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 – Europe 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. Europe 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. Europe 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 Forecasts to 2030 (US$ Million)
8.2 Manufacturing
8.2.1 Overview
8.2.2 Manufacturing: Market Revenue and Forecasts to 2030 (US$ Million)
8.3 Automotive
8.3.1 Overview
8.3.2 Automotive: Market Revenue and Forecasts to 2030 (US$ Million)
8.4 Retail
8.4.1 Overview
8.4.2 Retail: Market Revenue and Forecasts to 2030 (US$ Million)
8.5 Sports and Entertainment
8.5.1 Overview
8.5.2 Sports and Entertainment: Market Revenue and Forecasts to 2030 (US$ Million)
8.6 Others
8.6.1 Overview
8.6.2 Others: Market Revenue and Forecasts to 2030 (US$ Million)
9. Europe AI in Computer Vision Market – Country Analysis
9.1 Europe
9.1.1 Europe AI in Computer Vision Market Overview
9.1.2 Europe AI in Computer Vision Market Revenue and Forecasts and Analysis – By Country
9.1.2.1 Europe AI in Computer Vision Market Revenue and Forecasts and Analysis – By Country
9.1.2.2 Germany AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.2.1 Germany AI in Computer Vision Market Breakdown by Component
9.1.2.2.2 Germany AI in Computer Vision Market Breakdown by End Use Industry
9.1.2.3 UK AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.3.1 UK AI in Computer Vision Market Breakdown by Component
9.1.2.3.2 UK AI in Computer Vision Market Breakdown by End Use Industry
9.1.2.4 France AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.4.1 France AI in Computer Vision Market Breakdown by Component
9.1.2.4.2 France AI in Computer Vision Market Breakdown by End Use Industry
9.1.2.5 Italy AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.5.1 Italy AI in Computer Vision Market Breakdown by Component
9.1.2.5.2 Italy AI in Computer Vision Market Breakdown by End Use Industry
9.1.2.6 Russia AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.6.1 Russia AI in Computer Vision Market Breakdown by Component
9.1.2.6.2 Russia AI in Computer Vision Market Breakdown by End Use Industry
9.1.2.7 Rest of Europe AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.7.1 Rest of Europe AI in Computer Vision Market Breakdown by Component
9.1.2.7.2 Rest of Europe 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.            Europe AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 6.            Germany AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 7.            Germany AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By End Use Industry
Table 8.            UK AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 9.            UK AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By End Use Industry
Table 10.         France AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 11.         France AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By End Use Industry
Table 12.         Italy AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 13.         Italy AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By End Use Industry
Table 14.         Russia AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 15.         Russia AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By End Use Industry
Table 16.         Rest of Europe AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By Component
Table 17.         Rest of Europe AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn) – By End Use Industry
Table 18.         Company Positioning & Concentration
Table 19.         List of Abbreviation
LIST OF FIGURES
Figure 1.          AI in Computer Vision Market Segmentation, By Country
Figure 2.          Ecosystem: AI in Computer Vision Market
Figure 3.          Impact Analysis of Drivers and Restraints
Figure 4.          AI in Computer Vision Market Revenue (US$ Million), 2020 – 2030
Figure 5.          AI in Computer Vision Market Share (%) – Component, 2022 and 2030
Figure 6.          Software: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 7.          Hardware: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8.          AI in Computer Vision Market Share (%) – End Use Industry, 2022 and 2030
Figure 9.          Security and Surveillance: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10.       Manufacturing: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 11.       Automotive: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12.       Retail: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13.       Sports and Entertainment: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14.       Others: Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15.       AI in Computer Vision Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 16.       AI in Computer Vision Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 17.       Germany AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 18.       UK AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 19.       France AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 20.       Italy AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 21.       Russia AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 22.       Rest of Europe AI in Computer Vision Market Revenue and Forecasts to 2030 (US$ Mn)
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The List of Companies – Europe 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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