The Incredible Growth of Visual AI Analysis Industry 2021

 The AI in computer vision market was valued at USD 2.37 billion in 2017 and is expected to reach USD 25.32 billion by 2023, at a CAGR of 47.54% during the forecast period. In this report, 2017 has been considered as the base year, and the forecast period is from 2018 to 2023. 

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The objective of the report is to define, describe, and forecast the AI in computer vision market, in terms of value, on the basis of vertical, component, and geography. The major factors that are expected to be driving the AI in Computer Vison Market include growing demand for edge computing in mobile devices, increasing demand for computer vision systems in non–traditional and emerging applications and growing impact of AI in machine vision.

Computer vision systems are used to improve the security of high-value assets by implementing biometric scanning and facial recognition systems. The most popular use-case of facial recognition is smartphones security, as computer vision systems can recognize different patterns in the retinas and irises of humans. Besides, more advanced use-cases of facial recognition are businesses or residential security systems that use individuals’ physiological features for identity verification. Fingerprint analysis is also used to control access to high-security areas, such as bank vaults and research labs. For instance, FaceKey, a U.S.-based provider of biometric products and solutions, offers an Integrated Security Access Control System for several applications in the banking industry, including access to bank vaults, safety deposit boxes, offices, and elevators, among others.