Digital Lifescapes

More organizations are exploring machine vision use cases. Machine vision combines hardware and software to provide operational guidance to devices in the execution of their functions based on the capture and processing of images. Machine vision is rapidly becoming an enabling technology for emerging automation requirements in automotive, healthcare, manufacturing, retail, smart buildings, smart cities, transportation, and logistics applications. The total revenue of machine vision technology in the seven major global markets is expected to reach $36 billion by 2027 -- that's up from $21.4 billion in 2022. This growth translates to a CAGR of 11 percent, according to the latest market study by ABI Research. Machine Vision Market Development Traditionally, machine vision was primarily focused on surveillance and security, asset monitoring, and defect inspection. These mature applications continue to drive the main bulk of total camera shipments within the enterprise market. However, ...

Across the globe, more CEOs and their leadership team now say that business process automation has become a key driver of their organization's digital growth. Moreover, a survey of more than 2,000 Information Technology (IT) and Line of Business (LoB) decision-makers confirms that the adoption of artificial intelligence (AI) is growing rapidly. Over a quarter of all AI initiatives are already in production and more than one third are in advanced development stages. Besides, organizations are reporting an increase in their AI technology investment this year, according to the latest worldwide market study by International Data Corporation (IDC). Artificial Intelligence Market Development Delivering a better customer experience was identified as the leading driver for AI adoption by more than half the large companies surveyed. At the same time, a similar number of survey respondents indicated that the greatest impact of AI is helping employees to improve productivity. The stud...

According to the latest findings in the BCG report, "The Most Innovative Companies 2019" -- savvy business leaders are the early adopters of artificial intelligence (AI). "All of the ten highest-ranking companies -- and many in the top 50 -- use AI, platforms, and ecosystems to enable themselves and others to pursue new products, services, and ways of working." Worldwide spending on AI systems is forecast to reach $35.8 billion in 2019 -- that's an increase of 44 percent over the amount invested in 2018. International Data Corporation (IDC) expects spending on AI systems will more than double to $79.2 billion in 2022 with a compound annual growth rate (CAGR) of 38 percent over the 2018-2022 forecast period. Artificial Intelligence Market Develpment Global spending on AI systems will be led by the retail industry where companies will invest $5.9 billion this year on solutions such as automated customer service agents and expert shopping advisors & produ...

Savvy CIOs and CTOs at innovative retailers and other progressive organizations are piloting and deploying new cognitive technologies that enhance their customer experience. This is an acceleration of the ongoing trend that's very likely to transform legacy online support applications. According to the latest worldwide market study by Gartner, 37 percent of customer service leaders are either piloting or using artificial intelligence (AI) bots and virtual customer assistants (VCAs), and 67 percent of those leaders believe they are high-value tools in the contact center. Virtual Customer Assistant Market Development In recent years, no other channel technology has piqued customer care and support leaders’ interest more than AI bots and VCAs, according to Gartner’s Technology Roadmap Survey. In the survey of 452 service leaders across all industries and business types, respondents showed that confidence is leading more companies to adopt the technologies -- with 68 percent of...

Factory automation is evolving, once again. Machine vision technology remains popular in the manufacturing environment, due to its proven track record of results. However, the introduction of artificial intelligence (AI) technology and machine learning applications will transform many conventional factories. The emergence of deep learning apps creates expanded capabilities and flexibility, leading to more cost efficiency and higher production yield. Deep learning-based machine vision techniques within smart manufacturing will experience a CAGR of 20 percent between 2017 and 2023, with revenue that will reach $34 billion by 2023, according to the latest market study by ABI Research. Machine Vision Market Development  Manufacturers need to improve their production yields and workflow efficiency. Legacy machine vision is easy to implement but is somewhat limited. Current solutions that are widely deployed in quality control, safety inspection, predictive maintenance, and industr...

The industrial and collaborative robotics market is gaining momentum, as more vendors and industries embrace automation. Development in cloud robotics, deep learning based machine operation, and a wider ecosystem will enable robots to become more reliable, versatile and efficient. The industrial robotics sector is already experiencing robust growth. The revenues of commercial robots in manufacturing are forecasted to grow from $166 million in 2018 to $22 billion by 2027, according to the latest worldwide market study by ABI Research. Industrial Robotics Market Development The newest trend is complementary robotics technologies that put mobile robots on the factory floor. Made up of automated guided vehicles (AGVs) and autonomous mobile robots (AMRs), these robots will complement existing robotic arms in factories that are increasingly becoming more autonomous and smarter. There has been plenty of debate within the industry on the different benefits of AGVs and AMRs. While AGVs ...

In the past, machine vision was limited to highlight-controlled environments, costly sensor technology, and restrictive feature detection. Today, artificial intelligence (AI) is set to change the market, creating new classes of applications and significant new opportunities. Machine vision is in the process of transition and dramatic expansion. Deep learning (DL) techniques are taking machine vision systems to next level, driving the mass adoption in several industries -- including the automotive, retail, consumer, industrial, and surveillance sectors. Machine Vision Tech Market Development DL-based machine vision marks a departure from other approaches used in the sector, which were more limited regarding their application. ABI Research now forecasts that machine vision technology will see a CAGR of 53 percent between 2018 and 2023 -- with $193.8 billion of annual revenue generated from services and hardware by the end of the forecast period. Machine Vision vendors previously ...

More CIOs and CTOs are exploring the commercial value of intelligent systems that can enhance their organization's performance. Global business value from artificial intelligence (AI) is forecast to total $1.2 trillion in 2018 -- that's an increase of 70 percent from 2017, according to the latest market study by Gartner. Moreover, AI-derived business value is forecast to reach $3.9 trillion in 2022. According to the Gartner assessment, there are three different sources of AI business value: Customer experience: The positive or negative effects on indirect cost. Customer experience is a necessary precondition for widespread adoption of AI technology to both unlock its full potential and enable value. New revenue: Increasing sales of existing products and services, and/or creating new product or service opportunity beyond the existing situation. Cost reduction: Reduced costs incurred in producing and delivering those new or existing products and services. AI Technology ...

While the global automotive and transportation industry seems laser-focused on exploring new upside opportunities associated with the Internet of Things (IoT), another cluster of technology research and development is about to emerge into the mainstream marketplace. Artificial Intelligence (AI) -- in particular, Deep Learning based on neural network computing -- parallel processing and unassisted cloud-based crowd learning are propelling new innovations within the established consumer vehicle and commercial transport sectors. According to the latest worldwide market study by ABI Research, two key technologies and associated use-cases are noteworthy. AI technology application areas include machine vision and speech recognition, both of which have huge relevance for the automotive and transportation sectors. Exploring AI Use Case Scenarios Virtual Assistants – Advanced agents knowing the driver's preferences and allowing natural language interaction within the vehicle and dr...