Vision Transformers Market Size Worth USD 2,783.66 Million by 2032 | CAGR: 33.2%

The global vision transformers market size is expected to reach USD 2,783.66 million by 2032, according to a new study by Polaris Market Research. The report “Vision Transformers Market Size, Share, Trends, Industry Analysis Report: By Offering [Solution (Hardware and Software) and Professional Services (Consulting; Deployment & Integration; and Training, Support, & Maintenance)], Application, Vertical, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Forecast, 2024–2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Vision transformers (ViTs) are a type of neural network architecture designed specifically for image processing tasks, leveraging the principles of transformer models originally developed for natural language processing. They represent a significant shift in computer vision methodologies, offering several advantages over traditional convolutional neural networks.

The global vision transformer market is being driven by the rising acceptance and use of autonomous vehicles worldwide. ViTs play a crucial role in improving vehicle safety by interpreting the environment for autonomous vehicles. They facilitate precise recognition and categorization of entities such as pedestrians, other vehicles, traffic signs, and obstacles, leading to a higher requirement for ViTs in autonomous vehicles.

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The growing popularity of edge computing is projected to propel the global vision transformer market expansion in the coming years. Edge computing allows data to be processed closer to the source, enabling real-time analysis of visual data. Vision transformers, with their efficient architecture, are well-suited for these tasks that require immediate insights, thereby boosting their adoption in edge computing.

Vision Transformers Market Report Highlights

• By offering, the professional services segment is expected to experience substantial growth rate during the forecast period due to the growing focus on data security and compliance.
• The healthcare & life sciences segment, by vertical, dominated the vision transformers market in 2023, owing to their ability to conduct better analysis of patient data and imaging, supporting personalized treatment plans and precision medicine approaches.
• In the global vision transformers market, North America accounted for the largest revenue share in 2023 due to the presence of a highly skilled workforce in AI and data science, which facilitated the development and integration of complex technologies such as vision transformers.
• The market in Asia Pacific is expected to grow at a robust pace in the coming years owing to the existence of numerous technology companies and manufacturers that are increasingly incorporating AI-driven solutions into their processes, enhancing efficiency and productivity. Additionally, significant investments from governments and private sectors in AI research and development are fostering innovation and the deployment of vision transformer technologies in the region.
• A few global key market players are Amazon Web Services, Inc.; Clarifai, Inc.; Intel Corporation; Microsoft; NVIDIA Corporation; OpenAI; Google Inc.; Qualcomm Technologies, Inc.; Synopsys, Inc.; Hugging Face; Datature; Apple Inc.; viso.ai; and V7Labs.

Polaris Market Research has segmented the vision transformers market report on the basis of offering, application, verticals, and region:

By Offering Outlook (Revenue – USD Million, 2019–2032)

• Solution

• Hardware
• Software

• Professional Services

• Consulting
• Deployment & Integration
• Training, Support, & Maintenance

By Application Outlook (Revenue – USD Million, 2019–2032)

• Image Classification
• Image Captioning
• Image Segmentation
• Image Detection
• Other

By Vertical Outlook (Revenue – USD Million, 2019–2032)

• Retail & Ecommerce
• Media & Entertainment
• Automotive
• Government & Defense
• Healthcare & Life Sciences
• Other

By Regional Outlook (Revenue – USD Million, 2019–2032)

• North America

• US
• Canada

• Europe

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

• Asia Pacific

• China
• Japan
• India
• Malaysia
• South Korea
• Indonesia
• Australia
• Rest of Asia Pacific

• Middle East & Africa

• Saudi Arabia
• UAE
• Israel
• South Africa
• Rest of Middle East & Africa

• Latin America

• Mexico
• Brazil
• Argentina
• Rest of Latin America

Vision Transformers Report Scope