Asia-Pacific Computer Vision Market, Component (Hardware, Software), Application (Predictive Maintenance, Identification, Positioning & Guidance, Quality Assurance & Inspection), Vertical (Industrial Vertical, Non-industrial Vertical), Product (Smart Camera-Based Computer Vision Systems, PC-Based Computer Vision Systems), Country (China, India, Japan, South Korea, Australia, Singapore, Indonesia, Thailand, Malaysia, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Asia-Pacific Computer Vision Market
Asia-Pacific computer vision market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.1% in the forecast period of 2021 to 2028 and expected to reach USD 3,006.64 million by 2028. Growing demand for identification verification and accuracy and reliability offered by computer vision system can act as a major factor for the growth of the market.
Computer vision systems are those systems which can see and understand the world around it just as humans; those are the computer capable of understanding digital image and videos. This is possible due to advancement in technology of vision systems, artificial intelligence and computational power. The fundamental principles used in the systems are data or image acquisition, data or image processing and data or image classification. Data acquired can be in the form of images or videos which are captured using high definition cameras, smart cameras, sensors among others.
Data processing is done through various trained models of machine learning algorithms, deep learning algorithms and AI algorithms. It can be used for abundant applications such as object detection, facial recognition, pattern detection among others in various verticals such as automotive, manufacturing, healthcare, financial services, and agriculture among others.
Some of the factors that are driving the market are accuracy and reliability offered by computer vision system. But threats from virus and malwares in computer vision system can be a restraining factor. The Asia-Pacific computer vision market is growing due to rising need of computer vision system in automotive and manufacturing industries which acts as some of the opportunity for the market. Equipment failure and malfunctioning due to harsh environments can be a major challenge for the market growth in these regions.
This computer vision market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Asia-Pacific Computer Vision Market Scope and Market Size
Asia-Pacific computer vision market is segmented on the basis of component, application, vertical, and product. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the Asia-Pacific computer vision market is segmented into hardware and software. In 2021, hardware holds the major share in the market, owing the factors such as growing demand for augmented reality across various industries in Asia-Pacific region.
- On the basis of application, the Asia-Pacific computer vision market has been segmented into predictive maintenance, identification, positioning & guidance, quality assurance & inspection. In 2021, quality assurance & inspection segment holds the maximum share in the market due to factors such as growing demand for object detection, classification, error detection, defect detection among others in various industries such as automotive, manufacturing, healthcare among others in Asia-Pacific region.
- On the basis of vertical, Asia-Pacific computer vision market has been segmented into industrial vertical, non-industrial vertical. In 2021, industrial vertical holds the major share in the market. This is mainly due to growing demand for integration of deep learning with computer vision which can be used in various industries like retails, manufacturing among others. These technologies have gain popularity across Asian-pacific regions.
- On the basis of product, Asia-Pacific computer vision market has been segmented into smart camera-based computer vision systems and PC-based computer vision systems. In 2021, smart camera-based computer vision systems holds the largest share in the market owing to factors such as growing demand for smart systems which are aided by AI and deep learning based computer vision systems which proves to be highly accurate and precise in decision making which can be used for object verification and error detection.
Asia-Pacific Computer Vision Market Country Level Analysis
Asia-Pacific computer vision market is analysed and market size information is provided by country, component, application, vertical and product as referenced above.
The countries covered in Asia-Pacific computer vision market report are, China, Japan, South Korea, Australia, Malaysia, Singapore, India, Thailand, Indonesia, Philippines, and rest of Asia-Pacific.
China dominates the Asia-Pacific computer vision market owing to various factors like rising adoption of AI using computer vision and accuracy and reliability offered by computer vision system.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Computer Vision System
Asia-Pacific computer vision market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in computer vision and changes in regulatory scenarios with their support for the computer vision Market. The data is available for historic period of 2010 to 2019.
Competitive Landscape and Asia-Pacific Computer Vision Market Share Analysis
Asia-Pacific computer vision market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to Asia-Pacific computer vision market.
The major players covered in the report are Cognex Corporation, OMRON Corporation, Teledyne Technologies Incorporated, Texas Instruments Incorporated, Intel Corporation, ISRA VISION AG, Baumer, Clarifai Inc., SICK AG, JAI A/S, SONY CORPORATION, CEVA, Inc., Synopsys, Inc., KEYENCE CORPORATION, Cadence Design Systems, Inc., NATIONAL INSTRUMENTS CORP., Basler AG, AMETEK, Inc. and Baumer among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of Asia-Pacific computer vision market.
For instance,
- In March 2021, AMETEK, Inc., launched a New Phantom TMX High-Speed Cameras; the key feature of this camera is that it can achieve 76,000 frames per second (fps) at full 1-Megapixel (1-Mpx) resolution of 1280 x 800, over 300,000 fps at 1280 x 192 resolution, and over 770,000 fps at smaller resolutions. This high speed camera can have various applications in industries like automotive and manufacturing.
- In August 2020, Cognex Corporation launched 3D-A1000, a Detection System capable of identifying objects in a parcel with unmatched accuracy. Key features of this product were a motion-capable smart camera which helps to detect objects it focuses on reliably and with fast delivery. Retailers can use it for better and accurate delivery of products. The unparalleled accuracy offered by this product makes it unique.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for Asia-Pacific computer vision market through expanded range of size.
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