Computer Vision Market Highlights:
Market Research Future says that the global computer vision market’s revenue is increased from USD 9,200 Mn in 2017 to USD 48,300 Mn by 2023. Such a significant growth is likely to take place at a substantial CAGR during the forecast period 2017 to 2023.
The experts from MRFR reveals that the market for the computer vision market is reflecting a steady growth as technology is high on its potentials. The future of computers looks bright which is one of the significant factors contributing to the market’s growth.
The deep integration of learning and artificial intelligence with computer vision has significantly increased the level of worth of the technology. In no time, it has prompted a fast adoption of Computer Vision Marketsystems in various industrial verticals, across the globe. Such a factor is also considering as a pivotal factor motivating the market to expand wisely during the growth period.
Other factors such as high accuracy of computer vision systems, swelling need for automation, accessibility to robust & low-cost hardware as well as the availability of open-source libraries are have also put in the effort to provide a much-needed push to the progress of the market for the future’s valuation. Currently, the growing presence of big data in the market has effortlessly established themselves as leaders in the big data market than previously. Such a factor is also accountable vitally to the growth of the computer vision market.
As an add-on, the computer vision market is also anticipated to attain further growth is due to the indirect demand that is stemming from the market for deep learning.
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Market Key Players:
The significant players who have created a positive tone for market development are listed as Facebook Inc. (U.S.), Google LLC (U.S.), Mercedes-Benz (Germany), Microsoft Corporation (U.S.), KLA-Tencor Corporation (U.S.), Nvidia Corporation (U.S.), Wikitude GmbH (Germany), Cognex Corporation (U.S.), National Instruments Corporation (U.S.), Autoliv Inc (U.S.), IBM Corporation (U.S.), VideoIQ (U.S.), PlayfulVision (Switzerland), General Electric (U.S.) are inevitably shaping the market significantly.
Computer Vision Market Segmentation:
The computer vision market includes segments, on which MRFR studied are components, applications, and verticals.
The verticals segment involved in the computer vision market includes automotive, entertainment, agriculture, healthcare, transportation, and consumer electronics.
The component-based segmentation of the market includes software and hardware. The hardware components include cameras, sensors, scanners, processing chipsets, sonar, and others.
Whereas, the applications based segmentation of the market for computer vision also includes facial recognition, medical image analysis, image restoration, gesture analysis, character recognition, and more.
Computer Vision Market Regional Framework:
The computer vision market globally has been studied among the key regions such as Asia Pacific, North America, Europe, and the Rest of the World.
Among these, the North American region has a robust control over a significant portion of the computer vision market globally. It is the implementation of machine vision through numerous industries such as manufacturing and automotive that are encouraging market development in this region. Also, the escalating implementation of surveillance analytics for user behavior tracking is simultaneously found to be yet another noteworthy factor responsible for the market’s growth in the forecast period.
The Asia Pacific might also display a sharp rise throughout the forecast period. It is the countries such as Japan, China, India, South Korea that are leading in the region. Previously, the region held an 18.20 percent market share in the computer vision market in 2017. Therefore, the amplified implementation of augmented and virtual displays in automotive and 3D gaming is slowly fueling the market in this region further. With this, the rising number of start-ups are also putting in their focus on augmented and virtual reality technologies. These are thus, cited as one of the contributing factors for the development of the market in the forecast period.
Table of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
3 Market Insights
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List of Table
Table 1 Global Computer Vision Market, By Component, 2017-2023 (Usd Million)
Table 2 Global Computer Vision Market, By Application, 2017-2023 (Usd Million)
Table 3 Global Computer Vision Market, By Vertical, 2017-2023 (Usd Million)
Table 4 Global Computer Vision Market, By Region, 2017-2023 (Usd Million)
Table 5 North America Computer Vision Market, By Country, 2017-2023 (Usd Million)
List of Figure
Figure 1 Top Down & Bottomup Approach
Figure 2 Forecast Model
Figure 3 Value Chain Analysis
Figure 4 Porter’s Five Forces Analysis Of Global Computer Vision Market
Figure 5 Global Computer Vision Market, By Component, 2017-2023 (Usd Million)
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