The AI in computer vision market in SAM is expected to grow from US$ 201.59 million in 2019 to US$ 2,443.57 million by 2027; it is estimated to grow at a CAGR of 37.3% from 2020 to 2027. Emotion AI uses computer vision technology to analyze facial appearances and eye trends in photos and videos to read the emotional responses of an individual. London-based start-up Emotion AI tracks the facial expression of a sample crowd watching a particular promotion from their PC or cellphone camera. In 2019, Realeyes raised US$ 12.4 million in funding to assist major companies, such as AT&T, Mars, Hershey’s, and Coca-Cola, to separate emotions from photographs of facial expressions before rating any promotion for focus, emotion, and feeling. Furthermore, Apple bought Emotient in January 2016, and Facebook is developing its own products. Thus, the rising demand for artificial intelligence for emotion analyses is fueling the integration of artificial intelligence with computer vision, thereby contributing to the market growth. Based on end-user, the others segment is expected to be the fastest growing segment for SAM region during the forecast period.The others segment includes mobiles, photography gears, wearable, and radar sensors, where the AI in computer vision technology is highly being adopted. With rise in advancements in photography cameras, DSLR and mirrorless cameras demand state-of-the-art image and video quality, including better focus accuracy and image enhancement. This is boosting the implementation of the technology in such cameras, thereby increasing the efficiency of the cameras. Similarly, wearable devices demand optimized HW and SW imaging solution, operating with the lowest power and the highest performance. Thus, contributing to the high adoption of the technology and thereby influencing the market growth.
Brazil has the highest number of COVID-19 cases, followed by Ecuador, Chile, Peru, and Argentina.The COVID-19 pandemic has led to the closure of all economic activities across the region, in order to combat the spread of the virus.
The closure of manufacturing activities across major countries in SAM such as Brazil and Argentina to combat the spread of the virus is adversely affecting the adoption of new technologies.In the manufacturing industry across Argentina, the negative influence of the COVID-19 crisis is a historical one, already weakened by the recession of previous years.
This has influenced government bodies to take necessary steps in order to boost the sector across the country. The AI in computer vision market is adversely affected due to the outbreak of the virus; however, the government initiatives to attract investors in the sector are expected to influence the adoption of the technology across various industries in the region.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets.This factor is likely to drive the SAM AI in computer vision market.
The SAM AI in computer vision market is expected to grow at a good CAGR during the forecast period. The overall SAM AI in computer vision market size has been derived using both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
The process also serves the purpose of obtaining an overview and forecast for the SAM AI in computer vision market with respect to all the segments pertaining to the region.Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic.
The participants who typically take part in such a process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants, such as valuation experts, research analysts, and key opinion leaders specializing in the SAM AI in computer vision market. General Electric Company; Intel Corporation; Microsoft Corporation; Nvidia Corporation; and Qualcomm Incorporated are among the key players operating in the SAM AI in computer vision market.
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