Middle East & Africa AI in Computer Vision Market is expected to reach US$ 5,210.41 million by 2027

Others Segment is Expected to be Fastest Growing for MEA Region During the Forecast Period

According to The Insight Partners market research study on “MEA 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$ 5,210.41 million by 2027 from US$ 310.71 million in 2019. The market is estimated to grow at a CAGR of 43.2% from 2020 to 2027. The report provides trends prevailing in the MEA AI in computer vision market along with the drivers and restraints pertaining to the market growth. Manufacturing sector witnessing high adoption of AI in computer vision technology is among the major factor driving the growth of the MEA AI in computer vision market. However, worries related to privacy hinders the growth of MEA AI in computer vision market.     

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

The major countries facing the economic consequences of COVID-19 in the MEA region are Saudi Arabia, the UAE, Egypt, Morocco, and Kuwait. With the COVID-19 pandemic spreading through the countries mentioned above, it is becoming clear that few can escape its impact, presenting major challenges for all sectors. The manufacturing industry across the MEA has being severely impacted due to the outbreak of the pandemic in the starting of the year 2020. However, in order to combat the huge economic impact, countries like UAE have taken necessary steps to continue economic activities across the region. The UAE government are thus promoting the adoption of advanced technology across the industries to increase efficiency among them. Thus, the increasing initiatives across the region to lower the impact of corona virus in the real estate industry will ensure medium to low impact on the AI in computer vision market over the years.

1.6 Xilinx, Inc.; General Electric Company; Intel Corporation; Microsoft Corporation; Nvidia Corporation; Qualcomm Incorporated; Teledyne Technologies, Inc are among the leading companies in the MEA 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, Qualcomm expanded ecosystem which allowed NextGen edge AI and machine learning for cameras. OEMs, and several other Ecosystem Players Showcased Innovative Smart Cameras with the help of Qualcomm vision intelligence platform.   

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

  MEA AI in Computer Vision Market – By Component

• Software
• Hardware

MEA AI in Computer Vision Market – By End-User

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

MEA AI in Computer Vision Market – By Country

• Saudi Arabia
• South Africa
• UAE
• Rest of MEA