Computer Vision - United States | Statista Market Forecast

The market size in the Computer Vision market is projected to reach US$6.88bn 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$12.52bn 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 Artificial Intelligence market in the United States is seeing moderate growth, driven by factors such as increasing demand for digital solutions in various industries, growing investment in AI technology, and the convenience of online services. The sub-markets of Speech Recognition, Image Recognition, and Facial Recognition are also contributing to this growth. However, factors such as data privacy concerns and limited adoption in certain industries may be impacting the market's overall growth rate.

Customer preferences: As more businesses and industries adopt computer vision technology, there is a growing demand for personalized and efficient customer experiences. This has led to an increased use of computer vision in retail, healthcare, and transportation sectors. Additionally, with the rise of e-commerce and online shopping, consumers are becoming more accustomed to personalized product recommendations and virtual try-on features, driving the need for advanced computer vision capabilities.

Trends in the market: In the United States, the Computer Vision market is experiencing a surge in demand for facial recognition technology, particularly in the retail and security sectors. This trend is expected to continue as companies seek to enhance customer experience and security measures. Additionally, there is a growing interest in integrating computer vision with other emerging technologies such as augmented reality and natural language processing. This convergence has the potential to revolutionize industries such as healthcare and manufacturing, making it a significant trend to watch for industry stakeholders.

Local special circumstances: In the United States, the Computer Vision market is thriving due to the country's strong presence in the technology sector and its adoption of advanced technologies. The market is also heavily influenced by the regulatory landscape, with strict data privacy and security laws impacting the development and implementation of Computer Vision solutions. Additionally, cultural factors such as the high demand for convenience and efficiency in daily life have led to the widespread use of Computer Vision in various industries, from retail to healthcare.

Underlying macroeconomic factors: The Computer Vision Market within the Artificial Intelligence Market in the United States is greatly impacted by macroeconomic factors such as technological advancements, government support for AI research, and investments in infrastructure. The US has been at the forefront of AI research and development, with significant investments being made by both the public and private sector. Additionally, the high adoption rate of advanced technologies, coupled with a strong economy and favorable regulatory environment, has contributed to the growth of the market. Furthermore, the increasing demand for AI-powered solutions across various industries, including healthcare, retail, and automotive, is also driving the growth of the Computer Vision Market in the US.

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 - United States

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Value

Market Size

Analyst Opinion

Global Comparison

Methodology

Technology

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Key Market Indicators

Explore more high-quality data on related topic

Artificial intelligence (AI) worldwide - statistics & facts

Explore more high-quality data on related topic

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