Europe Computer Vision Market, By 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 (Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, Rest of Europe) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Europe Computer Vision Market
Europe 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 5.4% in the forecast period of 2021 to 2028 and expected to reach USD 3,626.02 million by 2028. Growing demand for augmented reality and integration of deep learning with computer vision systems 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, agriculture among others.
Some of the factors that are driving the market are accuracy and reliability offered by computer vision system. But threats from viruses and malwares in computer vision system can be a restraining factor for the European computer vision market growth. Growing interest towards financial services and agriculture sector are among some of the factors which can be opportunity for the market penetration. Lack of potential skilled workers to operate and maintain the system can be a major challenge for the market growth.
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.
Europe Computer Vision Market Scope and Market Size
Europe 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 Europe computer vision market is segmented into hardware and software. Hardware segment is further sub segmented as cameras, frame grabbers, optics, led lighting, processors. Cameras segment is further divided by interface standards into USB 2.0, USB 3.0, camera link, camera link HS, GIGE, and others, by frame rate into less than 25 FPS, 25–125 FPS, and more than 125 FPS, by format into line scan and area scan, by sensor type into CMOS and CCD. Processors segment is further sub-segmented into FPGAS, DSPS, microcontrollers and microprocessors, and VPUS. Software segment is further sub-segmented as traditional computer vision and deep learning. In 2021, hardware held major share in the market, owing the factors like growing adaptation for AI using computer vision system and growing demand for augmented reality across various industries in Europe.
- On the basis of application, the Europe computer vision market has been segmented into predictive maintenance, identification, positioning & guidance, quality assurance & inspection. In 2021, quality assurance & inspection held maximum share in the market due to factors such as growing demand for identity verification, object detection, classification, error detection, defect detection, among others in various industries such as automotive, manufacturing, healthcare among others in countries like U.K., France, Switzerland, etc.
- On the basis of vertical, Europe computer vision market has been segmented into industrial vertical, non-industrial vertical. Industrial vertical segment is further sub segmented as automotive, solar panel manufacturing, textiles, food and packaging, rubber and plastics, printing, machinery, wood and paper, pharmaceuticals, metals, glass, electronics and semiconductor, consumer electronics. Non-industrial vertical segment is further sub segmented as healthcare, sports and entertainment, retail, intelligent transportation systems, agriculture, autonomous and semi-autonomous vehicles, consumer electronics, security and surveillance, postal and logistics. In 2021, industrial vertical held major share in the market. This is mainly due to growing demand for integration of deep learning with computer vision which can be used for object detection, classification, error detection, defect detection among others, in various industries such as automotive, manufacturing, consumer electronics among others across Europe.
- On the basis of product, Europe computer vision market has been segmented into smart camera-based computer vision systems, PC-based computer vision systems. In 2021, smart camera-based computer vision systems held largest share in the market, owing to factors like growing demand for smart systems that are aided by AI and deep learning which proves to be highly accurate and precise in decision making. Owing to these features the smart camera-based computer vision systems are gaining lot popularity in across Europe.
Europe Computer Vision Market Country Level Analysis
Europe computer vision market is analysed and market size information is provided by component, application, vertical and product.
The countries covered in Europe computer vision market report are, U.K., Germany, France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, Rest of Europe in Europe
The U.K. dominates the Europe computer vision market owing to various factors like rising adoption of AI using computer vision and growing demand for augmented reality.
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 European 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
Europe 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 2019.
Competitive Landscape and Europe Computer Vision Market Share Analysis
Europe 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, Europe 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 Europe computer vision market.
The major players covered in the report are Texas Instruments Incorporated, Cognex Corporation, KEYENCE CORPORATION, AMETEK, Inc OMRON Corporation, Teledyne Technologies Incorporated, , Intel Corporation, ISRA VISION AG, Baumer, MVTEC SOFTWARE GMBH, Clarifai Inc., Tordivel AS, SICK AG, JAI A/S, SONY CORPORATION, CEVA, Inc., Synopsys, Inc., Cadence Design Systems, Inc., NATIONAL INSTRUMENTS CORP., Basler AG,. 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 Europe computer vision market.
For instance,
- In May 2021, Teledyne Technologies Incorporated launched a new 2k and 4k line scan camera, which was designed keeping compactness and size in mind. It was 45% smaller than the original line camera. The cameras are available in 2k and 4k resolutions in monochrome and bilinear color this product was unique and reliable.
- 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 Europe computer vision market through expanded range of size.
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