New York, US, Nov. 17, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), “ Computer Vision Market Research Report Information By Component, By Application, By End-User and By Region Forecast Till 2030” states that the global computer vision market is poised to create a valuation of USD 41.61 BN by 2030, registering an impressive CAGR during the forecast period (2020 to 2030).
Computer Vision Market Overview
The global computer vision market is likely to garner significant revenue growth. Rising implementations of augmented and virtual displays in the 3D gaming space would support the market growth. The COVID- 19 pandemic has helped re-establish the importance of automation and the most sought-after technologies, such as machine learning, artificial intelligence, deep learning, DevOps, and big data. Pandemic-related logistics problems prompted manufacturing companies to consider new automation technologies that offset higher wages and increase efficiency.
Resultantly, the global computer vision industry began to garner traction, continually witnessing an increase in automation investments. Computer vision technologies are extensively used in heat map computer vision and agricultural applications. A heat map is a diagram exhibiting the real-time allocation of buyers, where this system helps manage purchasing behavior.
Players leading the computer vision market are,
- Keyence Corporation (Japan)
- Intel Corporation (US)
- National Instruments (US)
- Nvidia Corporation (US)
- Microsoft Corporation (US)
- Cognex Corporation (US)
- Autoliv Inc. (US)
- Basler AG (Germany)
- IBM Corporation (US)
- and Sony Corporation (Japan)
Get Free Sample PDF Brochure:
https://www.marketresearchfuture.com/sample_request/5496
These heat maps integrated with computer vision and Artificial Intelligence technologies are gaining popularity among retailers, helping to analyze visitors' behavior, store personnel's performance, checkout lines, availability of goods on the shelves, their popularity, and so on.
In agriculture, computer vision technology is projected to bring technology disruption in seed testing, seed sampling, and crop yield. Agritech companies are using vision-enabled AI-based technology. Machine learning and computer vision techniques help detect defects in the seeds and crops, thus enabling quality seeds and crops.
Computer Vision Market Segments
The computer vision market is segmented into components, applications, end-users, and regions. The component segment is sub-segmented into hardware and software. The application segment is sub-segmented into gesture recognition, face recognition, character recognition, and others. The end-user segment is sub-segmented into automotive, agriculture, healthcare, consumer electronics, entertainment, transportation, and others. The region segment is sub-segmented into the Asia-Pacific, Americas, Europe, MEA, and the rest of the world.
Report Scope:
| Report Metrics | Details |
| Market Size by 2030 | USD 41.61 BN |
| CAGR during 2020-2030 | 15.21% |
| Base Year | 2019 |
| Forecast | 2020-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Market Opportunities | The users of the report will come across market opportunities and trends that are likely to arise during course of the projected years. The scope of research covers components such as hardware and software. |
| Key Market Drivers | Highly lucrative and capitalize on growth opportunities while minimizing risks. |
Browse In-depth Market Research Report (100 Pages) on Computer Vision Market:
https://www.marketresearchfuture.com/reports/computer-vision-market-5496
Industry Trends
Many computer vision-enabled products and solutions are interoperable with current challenging systems. Increasing numbers of start-ups focussed on augmented and virtual reality technologies to drive market growth. Computer vision technologies are mainly adopted for image recognition and medical image analysis. Rapidly growing healthcare sectors worldwide are the largest contributing factors to the development of the market.
The growing need for digital transformations of businesses accelerates the market growth. Moreover, the rise in the integration of deep learning and artificial intelligence with computer vision fosters market growth, increasing the level of efficacy of the technology significantly. This has also prompted a fast adoption of computer vision systems in various industrial verticals.
Additionally, the growing need for high computation power and productivity propels the growth of the market. Increasing usages of machine learning, deep learning, and natural language processing substantiate market growth. On the other hand, technology providers face enormous underlying intellectual challenges in developing computer vision technology.
These complexities act as significant headwinds projected to impede the market growth. Nevertheless, increasing AI implementation would support market growth in future years. Computer vision technologies are witnessing increasing applications in IoT cameras and sensors. Integrators and security consultants are taking full advantage of these new data-driven workloads.
Competitive Analysis
The highly competitive computer vision market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and brand reinforcement remain key trends for the leading players as these strategies support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and products.
Ask for Discount:
https://www.marketresearchfuture.com/check-discount/5496
For instance, on Jan. 20, 2022, Deci (Israel), a start-up helping enterprises build, optimize, and deploy AI to production, launched SuperGradients, an all-in-one Python library to help enterprises build and train deep learning models for the most common computer vision tasks. AI developers often struggle to develop & deploy production-ready deep learning models.
The challenges of time-consuming tasks, such as integrating with various existing training tools and reproducing the training results for advanced models, affect the whole process, including data and model architecture selection.
Computer Vision Market Regional Analysis
North America dominates the global computer vision market. The largest market share is attributed to the increasing use of machine vision in numerous industries. Besides, the manufacturing and automotive sectors in the region drive the growth of the market. Moreover, increasing implementations of surveillance analytics for user behavior tracking substantiate the computer vision market size.
Increasing R&D investments and rising business digital transformation push the growth of the market demand in the region. Computer vision market trends, such as the increased use of intelligent virtual assistants, favor regional market growth. The presence of major technology providers offering advanced computer vision solutions boosts growth in the regional market.
Europe stands second in the global computer vision market. The market growth is attributed to the presence of various notable players and large deployments of computer vision solutions across the industries. Additionally, the rising numbers of SMEs and large enterprises act as a major tailwind for the growth of the market. The high adoption of automation solutions used in the automotive and healthcare industries pushes the development of the regional market.
Talk To Expert:
https://www.marketresearchfuture.com/ask_for_schedule_call/5496
Asia Pacific computer vision market is growing rapidly. Factors such as the proliferation of digitization in businesses drive the growth of the regional market. The rising adoption of AI technology and cloud deployment by large enterprises and SMEs to enhance operational performance boosts the market size. Substantial investments transpired by key players in the development of AI technology platforms positively impact the regional market's growth.
Related Reports:
AI In Computer Vision Market Research Report by Component, Vertical, and Region–Global Forecast to 2027
Computer Vision in Healthcare Market Research Report: By Product & Service, By Application and By End User – Forecast to 2028
Machine Vision Market Research Report: by Component (Hardware and Software), Type, Application, End-Users, and Region—Forecast Till 2030
Robotic Vision Market Research Report, By Vertical By Application By Component – Forecast Till 2027
Global Industrial Vision Market, By Product, By Technology, By Vertical - Forecast 2030
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
