Global Computer Vision Market

Computer vision is that field of science which deals with increasing the understanding of computers till the point that they develop an understanding to look at and understand the digital content ranging consisting of images and videos. This study can be defined as the sub-field of artificial intelligence and machine learning, focusing on utilization of specialized methods and learning algorithms. This method is utilized to extract the information available in the digital content and providing this information to the concerned consumer

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Computer vision market is growing due to adoption of artificial intelligence into the business segments, demand for image and video analysis applications from various industry segments; the effects of these factors are mentioned below:

• Adoption of artificial intelligence into the business segments: One of the major growth factors associated with computer vision is the adoption of artificial intelligence technology from a majority of the organizations, this growth trend is expected to have a positive impact on computer vision market, as it helps in the advancement of artificial intelligence technology by equipping computers with a better understanding and knowledge of the digital content processing which they can translate to enhanced quality of service provision
• Demand for image and video analysis applications from various industry segments: The rate at which the volume of digital content is being expanded has required the need for having better analytical solutions and services which are in high demand from a number of industrial segments. Computer vision has the capability offer that and so much more, as the primary objective of computer vision is the understanding of the digital content being presented to them and extracting the information out of it, whether that be 3D models, positioning, background or even image processing

Strategic acquisitions and product innovations presented by various market players:

• In November 2018, NCR Corporation announced that they had acquired StopLift Checkout Vision Systems, helping enhance the capabilities of NCR’s solutions for retail businesses as it improves the security solutions for retailers and prevents the chances of theft in their business outlets. NCR will integrate StopLift’s AI model for the identification of any fraudulent behavior which will be integrated into the company’s retail store business solutions
• In October 2018, Apple announced that they had acquired Spektral, the company based out of Denmark and providing computer vision solutions. The deal was agreed upon for USD 30 million approximately, this technological acquisition will help Apple in enhancing their augmented reality services along with computer vision solutions. Spektral focuses on cutting out specific areas from a digital background to integrate them into different scenarios, whether that be for video or image-based content

The market is segmented on the basis of component as hardware, cameras, frame rate, format, standard, sensor, frame grabbers, optics, LED lighting, processors, FPGAS, DSPS, microcontrollers & microprocessors, visual processing units, others; software is categorized into traditional, deep learning; product as PC-based, smart camera based; vertical as industrial, non-industrial.

“According to Data Bridge Market Research, global computer vision market is expected be growing with a substantial CAGR of 8.2% during the forecast period of 2018 to 2025”

Some of the major players operating in market are Google LLC, Facebook Inc., Microsoft Corporation , Nvidia Corporation, Mercedes-Benz , IBM Corporation, Autoliv Inc., PlayfulVision, Wikitude GmbH, Cognex Corporation, National Instruments Corporation, General Electric, VideoIQ, KLA-Tencor Corporation, Cognex , Basler, OMRON, KEYENCE Corporation, Sony, Teledyne Technologies, Texas Instruments, Intel, Baumer Optronic, Tordivel, ISRA VISION, MVTec Software, MediaTek, Cadence Design Systems, CEVA, Synopsys, SICK and JAI A/S among others.

Computer vision is finding a valuable application with the wide-spread demands of Industry 4.0, also known as “The Industrial Internet of Things”. This trend focuses on automation of manufacturing applications and various other different industries, and thereby requires the usage of artificial intelligence, machine learning for its successful deployment. One of the major technologies associated with this implementation is computer vision, which essentially improves the capabilities of computers of their surroundings resulting in faster processing.