▲Computer vision related products exhibited at the 2023 ICT Technology Commercialization Festival

Demand for automation and efficiency↑, expansion of computer vision convergence products
Construction costs, lack of operational capabilities, security leaks, and reliability must be resolved

As artificial intelligence goes beyond the technical field and is fully incorporated into services and products, the global market is heating up with artificial intelligence. 'Computer Vision', which can be called the eye of artificial intelligence, is growing rapidly in the global market.

According to a report by market research firm Markets and Markets, the global computer vision market is expected to reach $17.2 billion (about 23 trillion won) in 2023 and $45.7 billion (about 60 trillion won) in 2028, growing at a compound annual growth rate of 21.5%.

Computer vision is expanding its market, focusing on industrial automation applications such as smart factories. Computer vision technology, which was mainly used for quality and defect inspection, safety and security, is now dominating the market with AI-integrated products for various applications such as autonomous driving, intelligent cameras, smart cities, and smart farms.

MarketsandMarkets cited ‘increasing demand for automation and efficiency’ as a key factor driving the growth of the computer vision market. Companies have a strong need to increase production efficiency, and computer vision is attracting attention as a technology that can simultaneously replace human labor and improve production efficiency in specific processes.

Recently, CJ Logistics America, the US subsidiary of CJ Logistics, collaborated with AI-based solution company OneTrack AI to introduce computer vision technology into the field.

Computer vision camera sensors are installed on forklifts operating in logistics centers to collect and analyze activity information. This allows for comprehensive monitoring of the forklift’s real-time location, work status, and operating rate.

In addition to improving work productivity, it can also play a major role in preventing safety accidents caused by worker negligence. It is reported that AI systems are currently being applied to about 35% of U.S. logistics centers, and construction is underway with the goal of 100% introduction by the end of this year.

The challenges that these AI computer vision solutions must address are the burden of the cost of building vision solutions and the lack of expertise and personnel required for operation and maintenance in businesses considering introducing them.

The Markets and Markets report pointed out that, "In medical and security-critical applications, concerns about leakage through vision systems and algorithm verification of systems that ensure reliability and transparency will remain as future challenges."