Computer Vision Market 2019 Global Segments, Emerging Technologies, Trends, Industry Growth and Regional Study by Forecast to 2023

Computer Vision Market 2019 Global Segments, Emerging Technologies, Trends, Industry Growth and Regional Study by Forecast to 2023

“Computer Vision Market”
Global Computer Vision Market stood at over USD 9,200 Mn and is expected to surpass a valuation of USD 48,300 Mn by 2023

Computer Vision Market Scenario:

The global computer vision market is presumed to garner USD 48.32 billion during the forecast period (2017-2023). The global market is considered to expand at 31.65% CAGR owing to the escalating need for automation, asserts Market Research Future (MRFR). Computer Vision is referred to as a field of computer science and artificial intelligence that offer computers a visual understanding of the globe.

Computer Vision Marketis concerned with the technology and theory for structuring the artificial systems that comprise the important information from images to multi-dimensional data. It is primarily being concerned with the analysis, automatic extraction, and understanding of meaningful data from a single image to a sequence of images.

Competitive Dashboard:

The prominent players operating the global computer vision market are National Instruments (U.S.), Nvidia Corporation (U.S.), Autoliv Inc. (U.S.), Microsoft Corporation (U.S.), Cognex Corporation (U.S.), IBM Corporation (U.S.), Intel Corporation (U.S.), Sony Corporation (Japan), Keyence Corporation (Japan), and Basler AG (Germany).

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Drivers and Constraints Impacting the Market:

Computer vision is one of the complex processes that has been attempted to create and comprehend. The market’s development is still at its initial phase and is presumed to generate a great deal of inertia in terms of investment, demand, and research and development. This is considered to stimulate the global computer vision market growth during the assessment period. With the development of augmented and virtual reality coupled with the demand for mobile devices, the global computer vision market is considered to stimulate.

Additionally, emergent technologies of machine learning, artificial learning, virtual reality, augmented reality, deep learning, neural networks are placing strong emphasis on product development which is further considered to contribute to the market growth during the appraisal period. Moreover, factors such as high accuracy of computer vision systems, accessibility to robust & low-cost hardware, escalating need for automation, and availability of open source libraries are some of the other factors considered to influence the market growth during the appraisal period.

On the flip side, increasing security concerns associated with cloud-based image processing and analytics are some of the major concerns considered to dampen the market growth in the coming years.

Computer Vision Market Segmental Analysis:

The global computer vision market has been segmented on the basis of component, application, end-user, and region.

  • By mode of component, the global computer vision market has been segmented into software and hardware.
  • By mode of application, the global computer vision market has been segmented into gesture recognition, face recognition, and character recognition.
  • By mode of end-user, the global computer vision market has been segmented into automotive, agriculture, entertainment, healthcare, transportation, consumer electronics, and others. Among these, the automotive segment is considered to register the largest market share with a CAGR of 33.86% during the estimated period.

Regional Insights:

Geographically, the computer vision market span across regions namely, Europe, North America, Asia Pacific, and the Middle East & Africa.

Among all the regions, the North American region is presumed to control a significant portion of the computer vision market. The incorporation of machine vision through several industries such as automotive and manufacturing are influencing the market development in this region. Moreover, the escalating implementation of surveillance analytics for user behavior tracking is considered to fuel the market growth in this region.

Asia Pacific is estimated to register a sharp rise during the estimated period owing to the presence of leading nations such as China, Japan, India, and South Korea. The amplified implementation of virtual and augmented displays in the automotive and 3D gaming is contributing to the market growth in this region.

Industry Updates:

December 26, 2018: A computer vision system which can identify objects based on the method of visual learning that are used by the humans have been developed at the UCLA Samueli School of Engineering. The system can be an advance in computer vision and a step toward general artificial intelligence systems. It can make decisions based on reasoning, and also interact with human beings in a more human-like way.

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Intended Audience:

  • Semiconductor product designers and fabricators
  • Developers of machine vision-related applications
  • Providers of machine vision-related components and solutions
  • Technology standard organizations, forums, alliances, and associations
  • Technology investors
  • Universities and research organizations
  • Government bodies

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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