MarketsandMarkets’ latest forecast projects the vision transformers market to expand at a 34.2% CAGR, from USD 0.2 billion in 2023 to USD 1.2 billion by 2028. The integration of advanced AI and deep learning techniques enhances image segmentation, object detection, and captioning capabilities across verticals like healthcare & life sciences, automotive, and retail, with professional services driving significant adoption.
Key points
- Market size grows from USD 0.2 billion in 2023 to USD 1.2 billion by 2028 at a 34.2% CAGR.
- Offering segments include solutions and professional services, with services showing highest CAGR.
- Applications span image segmentation, object detection, and captioning; captioning leads growth.
- Verticals cover healthcare & life sciences, automotive ADAS, and retail visual search.
- North America holds largest share due to major tech firms and advanced regulations.
Why it matters: The rapid expansion of the vision transformers market underscores a paradigm shift toward transformer-based computer vision in critical industries, promising more accurate and scalable image analysis. By leveraging self-supervised learning to reduce annotation needs, ViTs offer cost-effective deployment and enhanced cross-domain generalization, accelerating AI adoption in healthcare diagnostics, autonomous driving, and e-commerce.
Q&A
- What distinguishes vision transformers from CNNs?
- Why is self-supervised learning important for vision transformers?
- How do professional services influence market growth?
- What factors drive high growth in image captioning applications?