Computer Vision - CIS | Statista Market Forecast

The market size in the Computer Vision market is projected to reach US$606.20m in 2024.
The market size is expected to show an annual growth rate (CAGR 2024-2030) of 10.50%, resulting in a market volume of US$1.10bn by 2030.
In global comparison, the largest market size will be United States (US$6.88bn in 2024).

Definition:
Computer vision is a field of artificial intelligence that focuses on enabling computers to understand and interpret visual information from digital images or videos. It involves the development of algorithms and models that can extract meaningful insights from visual data, such as identifying objects in images (image recognition), converting spoken language into written text (speech recognition), and analyzing unique facial features for identification (facial recognition). By mimicking human vision and perception, computer vision technology enables machines to comprehend and analyze visual content. This technology is applicable to a wide range of industries.

Structure:
The Computer Vision market has three markets. The Speech Recognition market covers the analysis and interpretation of human speech. The Image Recognition market covers the analysis and interpretation of digital images using computer vision, and the Facial Recognition covers the analysis and interpretation of human faces in digital images and/or videos.

Additional Information:

The market comprises two key performance indicators: market sizes and market sizes by industry. Market sizes are generated by the funding amount of Computer Vision companies. Key players of the market include companies such as Nvidia, Intel, and IBM.

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Applications of computer vision to enable machines to interpret and analyze visual data, such as image and video recognition, autonomous vehicles, and medical imaging.

Non-artificial intelligence applications of computer vision, such as video processing and editing, which do not involve machine learning or pattern recognition.

The Computer Vision market in the CIS region has been steadily growing, driven by the increasing adoption of digital technologies and rising demand for advanced AI solutions. Factors such as the convenience offered by online health services and the growing health consciousness among consumers are also contributing to this growth. However, the market is experiencing a mild growth rate, possibly due to challenges such as data privacy concerns and the need for specialized expertise in implementing computer vision technologies.

Customer preferences: As the use of artificial intelligence continues to expand in the Computer Vision Market, there is a growing demand for AI-powered security solutions. With the rise of cyber threats and data breaches, businesses and individuals are turning to advanced computer vision technology to enhance their security measures. Additionally, there is a shift towards incorporating computer vision into daily tasks, such as facial recognition for unlocking smartphones and voice recognition for virtual assistants. This trend is driven by the desire for convenience and efficiency in our increasingly digital world.

Trends in the market: In the CIS and Computer Vision Market within the Artificial Intelligence Market, there is a rising trend of integrating computer vision technology into various industries, including retail, healthcare, and transportation. This trend is driven by the increasing demand for automation, efficiency, and accuracy in these sectors. Additionally, there is a growing use of machine learning algorithms to improve the performance and capabilities of computer vision systems. This trend is expected to continue, with more companies investing in AI-powered computer vision solutions to gain a competitive edge. These developments have significant implications for industry stakeholders, as they can lead to cost savings, improved customer experience, and increased productivity. However, there are also concerns about data privacy and ethical implications surrounding the use of AI in these markets. As the demand for computer vision technology continues to grow, it is essential for companies to carefully consider these implications and address them proactively.

Local special circumstances: In the CIS region, the Computer Vision Market is rapidly expanding due to the growing adoption of AI technologies by various industries. Despite the relatively slow pace of technological advancements, countries like Russia and Ukraine are witnessing a surge in demand for computer vision solutions in sectors such as manufacturing, retail, and healthcare. This is fueled by the need for automation and process optimization, as well as the availability of skilled workforce and supportive government policies.

Underlying macroeconomic factors: The growth of the Computer Vision Market within the Artificial Intelligence Market is also influenced by macroeconomic factors such as technological advancements, regulatory support, and investment in infrastructure. Countries with favorable regulatory environments and strong investment in AI technologies are experiencing faster market growth compared to regions with regulatory challenges and limited funding. Additionally, the increasing demand for AI-powered solutions in various industries, such as healthcare, manufacturing, and retail, is driving the growth of the market. Furthermore, the growing adoption of cloud-based AI solutions and the increasing use of advanced data analytics are also contributing to the market's expansion.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.

This report presents a comprehensive analysis and additional information on the Technology market, in a PDF format.

Artificial intelligence evokes images of supercomputer assistants, machines that can think creatively, and, to some, scenes from their favorite sci-fi movie. The reality, despite not being as futuristic, is not far off from this. AI refers to the ability of a computer or machine to mimic the competencies of the human mind, which often learns from previous experiences to understand and respond to language, decisions, and problems. The market for AI technologies is vast, amounting to around 200 billion U.S. dollars in 2023 and is expected to grow well beyond that to over 1.8 trillion U.S. dollars by 2030.

Artificial intelligence (AI), the technology that allows digital computers or computer-controlled robots to perform tasks more commonly associated with intelligent beings, has been leaping into the limelight following the release of a wide variety of Generative AI models in 2023. The United States, being the largest economy in the world, has a natural advantage. Although human-like androids such as those portrayed in the science fiction movie Blade Runner are still far from reality, applications of AI such as smartphone virtual assistants and industrial robots are already widespread in U.S. society. The industry’s powerful ability to improve efficiency and increase productivity has made it of strategic importance to U.S. industries and government, both of which push the U.S. lead in the AI race.

Computer Vision - CIS

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