Europe AI in Computer Vision Market to Grow at a CAGR of 48.5% to reach US$ 27,107.46 million from 2020 to 2027

The AI in computer vision market in Europe is expected to grow from US$ 1,212.90 million in 2019 to US$ 27,107.46 million by 2027; it is estimated to grow at a CAGR of 48.5% from 2020 to 2027.

France, Germany, Italy, UK, and Russia are major economies in Europe. Emotion AI at high demand is the major factor driving the Europe AI in computer vision market. 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, rising demand for artificial intelligence for emotion analyses is fueling the integration of artificial intelligence with computer vision, thereby contributing to the market growth.  

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.  

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 Europe AI in computer vision market. The Europe AI in computer vision market is expected to grow at a good CAGR during the forecast period.

Europe AI in Computer Vision Market Segmentation

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

Europe AI in computer vision Market - Companies Mentioned

• 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

Europe AI in Computer Vision Report Scope