North America AI in Computer Vision Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Component (Hardware and Software) and End-User (Automotive, Sports and Entertainment, Robotics and Machine Vision, Security and Surveillance, Government and Defense, and Others)
Market Introduction
Computer vision is a branch of artificial intelligence that allows the visual world to be known by a machine. A computer system can precisely locate and classify photos and videos with the assistance of computer vision to get useful information from the real world. The technology also allows the stripes to be seen and identified in a universal product code by a bar code scanner. Computer vision can be adequately compared to the information we hear about brain processing. Artificial intelligence in computer vision has a wide range of applications such as Self-driving cars, facial recognition, AR and mixed reality, healthcare, and information technology amongst others. AI in computer vision works in three processes namely, image acquisition; image processing; and image analysis and understanding. The combination of these three processes enables enterprises to make decision for achieving their growth plans. North America is consisting of developed economies, such as the US, Canada, and Mexico. Technology developments across North America have resulted in a highly competitive market for all industries. North America is also receiving high foreign direct investments for technological developments from economically strong countries. In order to better meet customer demands for high-quality products and services, businesses in the region are constantly improving their overall business processes. At present, in North America (the US and Canada), the penetration of AI in computer vision solutions, especially in the manufacturing sector is high. Rising investments in technologies by both private and public enterprises to enhance the overall efficiency and increase production capacity by converting traditional processes into modern smart manufacturing units, is fueling the growth of the market in the region. Also, surge in demand for merged reality is a major factor driving the North America AI in computer vision market.
North America has the highest adoption and growth rate of new technologies owing to favorable government policies to boost innovation and strengthen the infrastructure capabilities. Hence, any impact on industries is expected to affect the economic growth of the region in a negative manner. Presently, the US is the world’s worst affected country due to COVID-19 outbreak thereby influencing the sudden stands still across all industries such as manufacturing and automotive amongst others. It is becoming apparent with the COVID-19 pandemic spreading across the United States that few can escape its scope, presenting significant challenges to all industries. However, the major adoption of the technology across the region is noticed in the manufacturing sector where the same is applied for converting tradition manufacturing processes into smart ones. Thus, the closure of all manufacturing units across countries like United States, Canada and Mexico is expected to impact the growth of the AI in computer vision market negatively. However, the outbreak of the virus has influenced the adoption of the technology across the healthcare sector to detect covid-19 among patients. Thus, rising investment by the healthcare sector in technologies in the present situation is expected to impact the market positively. Thus, the region is expected to have an overall moderate impact in the AI in computer vision market owing to the pandemic over the years.
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Market Overview and Dynamics
The AI in computer vision market in North America is expected to grow from US$ 1,761.21 million in 2019 to US$ 32,565.09 million by 2027; it is estimated to grow at a CAGR of 45.0% from 2020 to 2027. Although innovations, such as the Internet of Things, are revolutionizing the manufacturing industry and making processes more autonomous, AI in computer vision would help improve them further. Computer vision is playing a significant part in inspecting fabricated products for flaws and non-conformities. Thus, on the production line, it may remove the need for human inspection, which is significantly increasing the adoption of AI in computer vision technology across the market. Similarly, edge computing solves the dilemma of latency and network usability. Devices can currently be set up in places where a network link is bad or non-existent without considering the connectivity. In addition, edge computing would offset some of the costs of using and managing cloud computing for data sharing. These factors are expected to drive the North America AI in computer vision market during the forecast period.
Key Market Segments
The North America AI in computer vision market is segmented into component, and end-user. Based on component, the market is segmented into hardware and software. The hardware segment held the largest share of North America AI in computer vision market in 2019. Based on end-user the North America AI in computer vision market is segmented into automotive, sports and entertainment, robotics and machine vision, security and surveillance, government and defense, and others. The automotive sector accounted for the highest share in the market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the AI in computer vision market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are 1.6 Xilinx, Inc.; Allied Vision Technologies GmbH; Basler AG; Cognex Corporation; General Electric Company; Intel Corporation; Microsoft Corporation; Nvidia Corporation; Qualcomm Incorporated; Teledyne Technologies, Inc.
Reasons to buy report
- To understand the North America AI in computer vision market landscape and identify market segments that are most likely to guarantee a strong return.
- Stay ahead of the race by comprehending the ever-changing competitive landscape for North America AI in computer vision market.
- Efficiently plan M&A and partnership deals in North America AI in computer vision market by identifying market segments with the most promising probable sales.
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America AI in computer vision market.
- Obtain market revenue forecast for market by various segments from 2020-2027 in North America region.
North America AI in Computer Vision Market Segmentation
North America AI in Computer Vision Market - By Component
- Software
- Hardware
North America AI in Computer Vision Market - By End-User
- Sports and Entertainment
- Robotics and Machine Vision
- Security and Surveillance
- Government and Defense
- Others
North America AI in Computer Vision Market - By Country
- US
- Canada
- Mexico
North America AI in Computer Vision Market - Company Profiles
- 1.6 Xilinx, Inc.
- Allied Vision Technologies GmbH
- Basler AG
- Cognex Corporation
- General Electric Company
- Intel Corporation
- Microsoft Corporation
- Nvidia Corporation
- Qualcomm Incorporated
- Teledyne Technologies, Inc
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 North America AI in Computer Vision Market – By Component
1.3.2 North America AI in Computer Vision Market – by End-User
1.3.3 North America AI in Computer Vision Market - By Country
2. Key Takeaways
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 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America AI in Computer Vision Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Surge in Demand for Merged Reality
5.1.2 Rise in Demand for Emotion AI
5.2 Market Restraints
5.2.1 Privacy Related Concerns
5.3 Market Opportunities
5.3.1 Automating Processes at High Demand Across Various Industries
5.4 Future Trends
5.4.1 Rapid Adoption by Manufacturing Sector
5.5 Impact Analysis of Drivers and Restraints
6. AI in Computer Vision Market – North America Analysis
6.1 North America AI in Computer Vision Market Overview
6.1.1 North America: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
7. North America AI in Computer Vision Market Analysis – By Component
7.1 Overview
7.2 North America AI in Computer Vision Market, by Component (2019 and 2027)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
7.4 Software
7.4.1 Overview
7.4.2 Software: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
8. North America AI in Computer Vision Market Analysis – By End-User
8.1 Overview
8.2 North America AI in Computer Vision Market, by End-User (2019 and 2027)
8.3 Automotive
8.3.1 Overview
8.3.2 Automotive: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
8.4 Sports and Entertainment
8.4.1 Overview
8.4.2 Sports and Entertainment: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
8.5 Robotics and Machine Vision
8.5.1 Overview
8.5.2 Robotics and Machine Vision: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
8.6 Security and Surveillance
8.6.1 Overview
8.6.2 Security and Surveillance: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
8.7 Government and Defense
8.7.1 Overview
8.7.2 Government and Defense: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
9. North America AI in Computer Vision Market – Country Analysis
9.1 Overview
9.1.1 North America: AI in Computer Vision Market, by Key Country
9.1.1.1 US: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.1.1 US: AI in Computer Vision Market, by Component
9.1.1.1.2 US: AI in Computer Vision Market, by End-User
9.1.1.2 Canada: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.2.1 Canada: AI in Computer Vision Market, by Component
9.1.1.2.2 Canada: AI in Computer Vision Market, by End-User
9.1.1.3 Mexico: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
9.1.1.3.1 Mexico: AI in Computer Vision Market, by Component
9.1.1.3.2 Mexico: AI in Computer Vision Market, by End-User
10. Impact of COVID-19 Pandemic on North America AI in Computer Vision Market
10.1 North America: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
12. Company Profiles
12.1 Cognex Corporation
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 General Electric Company
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 Intel Corporation
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 Microsoft Corporation
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 Qualcomm Incorporated
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 1.6 Xilinx, 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 Corporation
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 Allied Vision Technologies GmbH
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 Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Table 2. US: AI in Computer Vision Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 3. US: AI in Computer Vision Market, by End-User –Revenue and Forecast to 2027 (US$ Million)
Table 4. Canada: AI in Computer Vision Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 5. Canada: AI in Computer Vision Market, by End-User –Revenue and Forecast to 2027 (US$ Million)
Table 6. Mexico: AI in Computer Vision Market, by Component –Revenue and Forecast to 2027 (US$ Million)
Table 7. Mexico: AI in Computer Vision Market, by End-User –Revenue and Forecast to 2027 (US$ Million)
Table 8. List of Abbreviation
LIST OF FIGURES
Figure 1. North America AI in Computer Vision Market Segmentation
Figure 2. North America AI in Computer Vision Market Segmentation – By Country
Figure 3. North America AI in Computer Vision Market Overview
Figure 4. Hardware Segment Held the Largest Market Share Based on Component
Figure 5. Automotive Segment Held the Largest Market Share Based on End-User
Figure 6. US to Show Great Traction During Forecast Period
Figure 7. North America – PEST Analysis
Figure 8. Expert Opinion
Figure 9. North America AI in Computer Vision Market Impact Analysis of Drivers and Restraints
Figure 10. North America AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 11. North America AI in Computer Vision Market Revenue Share, by Component (2019 and 2027)
Figure 12. North America Hardware: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 13. North America Software: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 14. North America AI in Computer Vision Market Revenue Share, by End-User (2019 and 2027)
Figure 15. North America Automotive: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 16. North America Sports and Entertainment: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 17. North America Robotics and Machine Vision: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 18. North America Security and Surveillance: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 19. North America Government and defense: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 20. North America Others: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 21. North America: AI in Computer Vision Market, by Key Country - Revenue 2019 (US$ Million)
Figure 22. North America: AI in Computer Vision Market Revenue Share, by Key Country (2019 and 2027)
Figure 23. US: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 24. Canada: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 25. Mexico: AI in Computer Vision Market – Revenue and Forecast to 2027 (US$ Million)
Figure 26. Impact of COVID-19 Pandemic in North American Country Markets
- 1.6 Xilinx, Inc.
- Allied Vision Technologies GmbH
- Basler AG
- Cognex Corporation
- General Electric Company
- Intel Corporation
- Microsoft Corporation
- Nvidia Corporation
- Qualcomm Incorporated
- Teledyne Technologies, Inc.
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