Europe AI in Computer Vision Market is expected to reach US$ 27,107.46 million by 2027

Automotive Segment to Dominate Europe AI in Computer Vision Market during 2019–2027

According to The Insight Partners market research study on “Europe 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$ 27,107.46 million by 2027 from US$ 1,212.90 million in 2019. The market is estimated to grow at a CAGR of 48.5% from 2020 to 2027. The report provides trends prevailing in the Europe AI in computer vision market along with the drivers and restraints pertaining to the market growth. Emotion AI at high demand is among the major factor driving the growth of the Europe AI in computer vision market. However, issues related to privacy related concerns hinders the growth of Europe AI in computer vision market.     

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

As selected countries observed a rise in the number of reported cases and subsequently attracted strict as well as longer lockdown periods or social isolation, the effect of COVID-19 varied from country to country throughout the European region. However, due to the strong healthcare system, Western European countries such as Germany, France, Russia, the United Kingdom, and others have seen a comparatively modest decrease in their development activities. European government to protect its population from the virus has made huge investments in the implementation of technology in its healthcare systems for better detection of symptoms of the virus. AI in computer vision in the region is being adopted across the healthcare industry to efficiently detect and treat covid-19 among the population. Thus, leaving a positive impact on the market. However, due to the temporary closure of all economic activities in the region, the adoption of technologies has experienced a dip across all other major industries in the region such as manufacturing, retail and automotive amongst others. This is further expected to refrain the market growth over the years. Thus, the outbreak of the virus is expected to have a moderate to low impact on the AI in computer vision market in 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 Europe 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, Xilinx, Inc. declared a brand-new machine learning (ML) capability for Xilinx device support aimed at the professional audio/video (Pro AV) and broadcast market.  

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

  Europe AI in Computer Vision Market – By Component

• Software
• Hardware

Europe AI in Computer Vision Market – By End-User

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

Europe AI in Computer Vision Market – By Country

• Germany
• UK
• France
• Italy
• Russia
• Rest of Europe