According to the latest report by IMARC Group "Computer Vision Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", Theglobal computer vision market is expected to exhibit a CAGR of 7.1% during 2023-2028.
What is Computer Vision?
Computer vision is a field of computer science that focuses on replicating various aspects of the intricate human visual system. It enables computers to understand and interpret the visual world using digital images and videos from cameras and deep learning models. Moreover, it aids in precisely examining and recognizing real-world images to generate numerical or symbolic data. The recent advancements in artificial intelligence (AI), vision systems, and computational power has made it possible to accomplish these goals. At present, computer vision finds extensive applications in quality assurance and inspection, positioning and guidance, measurement, identification, predictive maintenance, 3D visualization, and interactive 3D modeling across the globe.
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What are the growth prospects and trends in the Computer Vision industry?
The global computer vision market is primarily driven by numerous innovations in computer vision technology, such as image sensors, advanced cameras, and deep learning techniques. Moreover, the emerging applications of computer vision in healthcare, education, retail, consumer electronics, robotics, manufacturing, and security and surveillance industries are positively influencing the market growth. Additionally, the escalating demand for vision-guided and smart camera-based robotic systems for quality inspection has catalyzed market growth. Furthermore, the surging adoption of computer vision in augmented reality (AR) and virtual reality (VR) technologies to track body and eye movement and modify the VR environment accordingly is contributing to the market growth. Other factors, including improvements in advanced safety systems, rising product utilization in the automotive industry for assembling vehicles, and the emerging trend of automation and 3D imaging in various sectors, are also anticipated to drive the market further.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
Breakup by Product Type:
- Smart Camera-based
Breakup by Application:
- Quality Assurance and Inspection
- Positioning and Guidance
- Predictive Maintenance
- 3D Visualization and Interactive 3D Modelling
Breakup by Vertical:
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Basler AG
- Baumer Optronic
- CEVA Inc.
- Cognex Corporation
- Intel Corporation
- Jai A/S
- Keyence Corporation
- Matterport Inc.
- Microsoft Corporation
- National Instruments
- Sony Corporation
- Teledyne Technologies Inc.
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