AI Vision Inspection Market Overview
AI Vision Inspection Market Size was valued at USD 17.8 Billion in 2022. The AI Vision Inspection market industry is projected to grow from USD 21.08 Billion in 2023 to USD 110.5 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 22.50% during the forecast period (2023 - 2032). Rising demand for automation and efficiency, increasing AI in machine vision, and technology advancements are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
AI Vision Inspection Market
Demand for automation and efficiency is driving the market growth
Market CAGR for AI vision inspection is driven by the rising demand for automation and efficiency. Automation and efficiency can support organizations save time and developing the precision of decision-making procedures. Now these days, several industries are implementing AI vision inspection technology to automate their procedures and increase efficiency. For Example, industries can use an AI vision system to inspect defects in products to recognize and take rapid actions to improve production processes and control waste.
Additionally, machine vision employs digital signal processing, analog-to-digital conversion, and one or more video cameras to give a computer the ability to see, examine, and analyze how the job is being performed. After being captured, the data is imported into the computer for analysis and output generation. In any machine vision system, resolution and sensitivity are two critical components. While sensitivity refers to the machine's capacity to detect objects or weak impulses in the presence of invisible wavelengths or low light, resolution deals with the ability to distinguish between different objects. These systems are very helpful when it comes to workplace supervision. In industrial applications, it provides capabilities including robotic guiding, process control, and autonomous inspection.
There is a growing need for efficient and reliable inspection and measurement of the products. The technology is rapidly gaining traction in industrial processes. Machine vision systems use smart cameras and image processing to carry out measurements and inspections. Moreover, growing customer awareness, increasing the bar safety and quality requirements, increasing the usage of industrial automation, and the advantages of new technology over outdated methods. As a result, it is anticipated that throughout the projection period, demand for AI vision inspection will increase due to the rising demand for automation and efficiency. Thus, driving the AI Vision Inspection market revenue.
AI Vision Inspection Market Segment Insights
AI Vision Inspection Component Insights
The AI Vision Inspection market segmentation, based on component, includes hardware and software. The software segment dominated the market, accounting for the maximum of market revenue due to rising demand for advanced technologies and the increasing use of AI in a varied range of industries.
AI Vision Inspection Function Insights
The AI Vision Inspection market segmentation, based on function, includes training and inference. The training category generated the most income due to it containing correct answers, which are called target attributes. The learning algorithms catch data patterns in the training data, map the input data and output, and use a machine learning model that captures these patterns.
AI Vision Inspection Application Insights
The AI Vision Inspection market segmentation, based on application, includes industrial and non-industrial. The industrial category generated the most income due to its working with a wide amount of data and leveraging machine learning technology to originate real-time visions. The AI vision inspection systems are widely used for scanning and detecting tasks, barcodes, and labels. By automating packaging tasks, this reduces human error, saves time, and boosts productivity.
Figure 1: AI Vision Inspection Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
AI Vision Inspection End User Insights
The AI Vision Inspection market segmentation, based on end user, includes automotive, consumer electronics, healthcare, retail, security & surveillance, manufacturing, agriculture, transportation & logistics, and others. The automotive category generated the most income due to it being widely utilized for inspection tasks such as final inspection, assembly verification, mistake proofing, and presence-absence checking.
AI Vision Inspection Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American AI Vision Inspection market area will dominate this market, owing to an increasing launch of several inspection systems. In addition, the growing need for the inspection of products with advanced technology and rising investment will boost market growth in this region.
Further, the major countries studied in the market report are The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: AI VISION INSPECTION MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe AI Vision Inspection market accounts for the second-largest market share due to the increasing availability of large skilled workers. Further, the German AI Vision Inspection market held the largest market share, and the UK AI Vision Inspection market was the fastest-growing market in the European region.
The Asia-Pacific AI Vision Inspection Market is expected to grow at the fastest CAGR from 2023 to 2032 due to the adoption of machine learning systems. Moreover, China's AI Vision Inspection market held the largest market share, and the Indian AI Vision Inspection market was the fastest-growing market in the Asia-Pacific region.
AI Vision Inspection Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the AI Vision Inspection market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, AI Vision Inspection industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the AI Vision Inspection industry to benefit clients and increase the market sector. In recent years, the AI Vision Inspection industry has offered some of the most significant advantages to industries. Major players in the AI Vision Inspection market, including NVIDIA Corporation (US), Intel Corporation (US), Microsoft (US), IBM Corporation (US), Qualcomm Technologies Inc. (US), Advanced Micro Devices, Inc. (US), Alphabet, Inc. (US), Amazon (US), Basler AG (Germany), Hailo (US), and Groq, Inc. (US), and others, are attempting to increase market demand by investing in research and development operations.
Basler Electric is a family-run company with a reach, with headquarters located in Highland, IL. Through their widespread presence, companies are better able to understand the demands of various markets and applications around the globe and respond to their needs by offering high-quality goods and services. In order to increase its product portfolio and secure a reliable source for plastic parts, Baler purchased a full-service plastic molding company in 2012. Located in San Marcos, Texas, Basler Plastics is a large-scale custom plastics injection modular that has received UL approval and ISO certification. In order to enhance its offerings and competencies, Basler produced Basler Services, LLC, which was formerly known as E2 Power Systems. In October 2022, Basler unveiled a new model in its flame Time-of-Flight (ToF) camera family. This model has a sturdy and small design, making it ideal for interior applications in manufacturing automation and logistics. The model features a working distance of 0.3 to 10 meters, a remarkable 67° x 51° field of view, and near-infrared operating at 850 nm.
IBM is a multinational technology company based in Armonk, New York, with operations in more than 175 nations. It offers web hosting and consulting services in fields from mainframe computers to nanotechnology, with a focus on computer hardware, middleware, and software. IBM is the world's largest industrial research organization, with 19 research sites spread across 12 countries. From 1993 to 2021, the company held the record for the most yearly US patents generated by a firm. In January 2023, the Mohammed Bin Zayed University of Artificial Intelligence and IBM officially opened an AI Center of Excellence during the World Future Energy Summit during Abu Dhabi Sustainability Week. The Center seeks to promote cooperation in order to increase AI technology adoption and support sustainability. The Center will fight climate change, create carbon-neutral alternatives to current energy sources, and advance Arabic dialect natural language processing (NLP).
Key Companies in the AI Vision Inspection market include
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IBM Corporation (US)
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Qualcomm Technolgoies Inc. (US)
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Advanced Micro Devices, Inc. (US)
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Alphabet, Inc. (US)
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Amazon (US)
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Basler AG (Germany)
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Hailo (US)
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Groq, Inc. (US)
AI Vision Inspection Industry Developments
January 2023: Microsoft released the third phase of its long-term engagement with OpenAI, involving a multibillion-dollar multiyear investment to accelerate AI advancements and ensure that these benefits are broadly shared with the public.
January 2023: The firms Visteon and Qualcomm Technologies, Inc. announced that they want to advance their technology cooperation by creating a high-performance cockpit domain controller that will make it possible for automakers to create next-generation cockpits. With production programs scheduled for 2025, automakers will be able to swiftly deploy advanced features and functionality in their next-generation cockpits thanks to the combination of Visteon's SmartCore software and Snapdragon cockpit Platforms.
October 2022: A new automated visual inspection system called VRI-VI 060 was introduced by Antares Vision Group. It offers pre-filled syringes with high—quality examination.
AI Vision Inspection Market Segmentation
AI Vision Inspection Component Outlook
AI Vision Inspection Function Outlook
AI Vision Inspection Application Outlook
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Industrial
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Non-Industrial
AI Vision Inspection End User Outlook
AI Vision Inspection Regional Outlook
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 17.8 Billion |
| Market Size 2023 |
USD 21.08 Billion |
| Market Size 2032 |
USD 110.5 Billion |
| Compound Annual Growth Rate (CAGR) |
22.50% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
Component, Function, Application, End-User, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
NVIDIA Corporation (US), Intel Corporation (US), Microsoft (US), IBM Corporation (US), Qualcomm Technolgoies Inc. (US), Adavnced Micro Devices, Inc. (US), Alphabet, Inc. (US), Amazon (US), Basler AG (Germany), Hailo (US), Groq, Inc. (US) |
| Key Market Opportunities |
Developing applications of AI vision inspection in agriculture, manufacturing, and logistics |
| Key Market Dynamics |
Rising demand for automation and efficiency Increasing impact of AI in machine vision |
Frequently Asked Questions (FAQ) :
The AI Vision Inspection market size was valued at USD 17.8 Billion in 2022.
The market is projected to grow at a CAGR of 22.50% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are NVIDIA Corporation (US), Intel Corporation (US), Microsoft (US), IBM Corporation (US), Qualcomm Technologies Inc. (US), Advanced Micro Devices, Inc. (US), Alphabet, Inc. (US), Amazon (US), Basler AG (Germany), Hailo (US), Groq, Inc. (US).
The software category dominated the market in 2022.
The industrial had the largest share in the market.
