Asia-Pacific AI in Computer Vision Market is expected to reach US$ 27,754.01 Mn by 2027

Software Segment is Expected to be Fastest Growing for APAC Region During the Forecast Period

According to a new market research study on “APAC AI in Computer Vision Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast by Component and End-User” is expected to reach US$ 27,754.01 million by 2027 from US$ 1,156.92 million in 2019. The market is estimated to grow at a CAGR of 49.8% from 2020 to 2027. The report provides trends prevailing in the APAC AI in computer vision market along with the drivers and restraints pertaining to the market growth. Various industries demanding automating processing is among the major factor driving the growth of the APAC AI in computer vision market. However, issues related to rising privacy concerns hinders the growth of APAC AI in computer vision market.     

The APAC 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 APAC AI in computer vision market in 2019. Based on end-user the APAC 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.

Because of a massive number of cases in China, the APAC region is greatly affected by COVID-19, the country is the most important manufacturer and industrial producer because it trades more manufacturing products than any other country in the world; it is also a world leader in many types of goods. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has also affected other major economies outside China, such as the large South Korea, India, Australia, and Japan, and is experiencing downward inflation. The sudden closedown of all economic activities which includes manufacturing and processing amongst others has highly impacted the growth of the region. Owing to severe burden of losses over manufacturing companies, the investment on new technologies and implementation of the same will now be deferred till they resume back to normal. This is expected to negatively impact the AI in computer vision market growth. However, the rising adoption of the technology across the healthcare sector in order to determine symptoms of covid-19 strains are influencing its high adoption across the countries to combat the rapid spread of the virus. Thus, the mixed effect of the technology across various industries is expected to moderately impact the market growth over the years across the region.

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 are among the leading companies in the APAC AI in computer vision market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2020, Teledyne Technologies introduced SaperaTM Vision Software which is a Sapera Vision Software that consist of Sapera Processing and the new AstrocyteTM graphical application for artificial intelligence (AI).  

The report segments the APAC AI in Computer Vision Market follows:

 APAC AI in Computer Vision Market – By Component

• Software
• Hardware

APAC AI in Computer Vision Market – By End-User

• Automotive
• Sports and Entertainment
• Robotics and Machine Vision
• Security and Surveillance
• Government and Defense
• Others

APAC AI in Computer Vision Market – By Country

• Australia
• China
• India
• Japan
• South Korea
• Rest of APAC