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Global Computer Vision Market – Industry Trends and Forecast to 2029

  • Semiconductors and Electronics
  • Upcoming Report
  • Mar 2022
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Computer Vision Market, By Components (Hardware, Software, Service), Product (Smart Camera-based Computer Vision Systems, PC-based Computer Vision Systems), Offering (Deep Learning, Traditional Computer Vision), Application (Quality Assurance and Inspection, Positioning and Guidance, Identification, Predictive Maintenance), Vertical (Industrial, Non Industrial) – Industry Trends and Forecast to 2029.

Computer Vision Market

Global Computer Vision Market Analysis and Size

Computer vision, which has been a research technique for decades, is now being commercialized for a variety of applications, including security and surveillance, automotive, consumer, industrial, medical, and entertainment, to mention a few. The global computer vision market is growing due to faster processing, more accuracy, and lower costs of computer vision systems. Consequently, the global computer vision market is projected show lucrative growth.

  • Global Computer vision Market was valued at USD 12.78 billion in 2021 and is expected to reach USD 24.19 billion by 2029, registering a CAGR of 8.30% during the forecast period of 2022-2029. The "smart camera-based computer vision systems" accounts for the largest product segment in the computer vision market within the forecasted period. They are cost-effective, compact, and versatile, making it easier to adopt modifications based on changed rules and standards in these systems. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

Global Computer Vision Market Definition

Computer vision systems can see and interpret the world around them in the same way that people can; they are computers that can understand digital images and movies. This is made possible by advancements in visual system technology, artificial intelligence, and processing capacity. Data or image acquisition, data or image processing, and data or image categorization are the core principles used in these systems.

Report Scope and Market Segmentation

Report Metric

Details

Forecast Period

2022 to 2029

Base Year

2021

Historic Years

2020 (Customizable to 2019 - 2014)

Quantitative Units

Revenue in USD Billion, Volumes in Units, Pricing in USD

Segments Covered

By Components (Hardware, Software, Service), Product (Smart Camera-based Computer Vision Systems, PC-based Computer Vision Systems), Offering (Deep Learning, Traditional Computer Vision), Application (Quality Assurance and Inspection, Positioning and Guidance, Identification, Predictive Maintenance), Vertical (Industrial, Non Industrial)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

Cognex Corporation (U.S.), Basler AG(Germany), Omron Corporation (Japan), KEYENCE CORPORATION (Japan), National Instruments Corp (U.S.), Sony Corporation (Japan), Teledyne (U.S.), Allied Vision Technologies GmbH(Germany), Texas Instruments Incorporated (U.S.), Intel Corporation (U.S.), Baumer (Germany), JAI (Denmark), MediaTek, Inc. (Taiwan), Cadence Design Systems, Inc. (U.S.), CEVA, Inc. (U.S.), and Synopsys, Inc. (U.S.)

Market Opportunities

  • Integrating several technological advancements
  • Growing penetration of industry 4.0 trends
  • Emergence of augmented reality (AR) and virtual reality (VR)

Computer vision Market Dynamics

This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers

  • Surging Requirement of Computer Vision 

Growing demand for quality inspection and automation and an increase in demand for vision-guided robotic systems and application-specific computer vision systems are expected to be the primary drivers of market expansion. Furthermore, rising demand for food-specific computer vision systems to detect wrongly labelled products and sub-quality products would help to moderate market growth over the anticipated period.

  • Utilization Across Various Sectors

Furthermore, the surging usage of computer vision for detecting the eye and body movement of the user and adapt the VR environment accordingly fuels the market growth. Growing usage for image and video processing applications across various industry segments and also within healthcare for the computer vision to detect and study the virus also acts as a market driver.

The major element driving the market's growth is the emergence of augmented reality (AR) and virtual reality (VR). Additionally, the growing demand for mobile devices is estimated to bolster the market's overall growth.

Opportunities

  • Growing Penetration And Integrating Technological Advancements

The growing penetration of industry 4.0 trends, automation, and 3D imaging are estimated to generate lucrative opportunities for the market, which will further expand the computer vision market's growth rate in the future. Additionally, the integrating several technological advancements in safety systems will also offer numerous growth opportunities within the market.

Restraints/Challenges Global Computer Vision Market

  • High Cost

 The computer vision system is highly expensive, serving as a market restraint.

  • Dearth of Professionals

The market's growth is being hampered by a lack of experienced professionals in sophisticated algorithms and a slow adoption rate of machine learning, deep learning, and neural networks.

  • Low Penetration and Diverse End Users

Furthermore, the low penetration of computer vision in industries and the existence of diverse and selective end-user requirements are projected to be challenge for the computer vision market over the forecast period.

This computer vision market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the computer vision market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Post Covid-19 Impact on Computer vision Market

The computer vision market was positively affected by the outbreak of COVID-19. The other industries were severely hampered due to lockdown and slowdown in the supply chain, but the computer vision market showed a lucrative growth due to pandemic. COVID-19 is being fought with AI-powered computer vision systems or solutions in a variety of applications, including tracking and prediction, early alarms, data dashboards, diagnostics and prognosis, treatments and cures, and social control. With the necessity for coronavirus spread forecast and tracking, data dashboards that can show the present condition of the pandemic have arisen.

The market has a large profit margin because to the expanding applications of computer vision and artificial intelligence in non-industrial sectors such as healthcare, surveillance and monitoring, and transportation. According to a survey performed by AMR, over half of all businesses use at least one AI-based business function in their operations. This tendency persisted during the pandemic, with several corporations expressing a willingness to raise their AI efforts following the outbreak. During the forecast period, this has resulted in a massive demand for the market.

Recent Developments

  • In April 2020, AtSite was acquired by Clobotics Holdings Ltd., making it a fully owned part of the Clobotics Group. The acquisition unites two industry-leading technology platforms, speeding artificial intelligence-based solutions and advancing the worldwide wind O&M market's continuing digitalization.
  • In January 2020, Snap, the parent company of Snapchat, has purchased AI Factory, a Ukraine-based business, to enable the social media app deliver a new form of video service that uses a person's face to play short snippets. Snap paid roughly $166 million for the company.

Global Computer vision Market Scope

The computer vision market is segmented on the basis of components, product, offering, application and vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Components

  • Hardware
  • Software
  • Service

On the basis of components, the computer vision market is segmented into hardware, software and service.

Product

  • Smart Camera-based Computer Vision Systems
  • PC-based Computer Vision Systems

On the basis of product, the computer vision market is segmented into smart camera-based computer vision systems and PC-based computer vision systems. The smart camera-based computer vision systems are projected to have largest market share as they are cost-effective, compact, and versatile that makes it easier to adopt modifications based on changed rules and standards in these systems.

Offering

  • Deep Learning
  • Traditional Computer Vision

On the basis of offering, the computer vision market is segmented into deep learning and traditional computer vision.

Application

  • Quality Assurance and Inspection
  • Positioning and Guidance
  • Identification
  • Predictive Maintenance

On the basis of application, the computer vision market is segmented into quality assurance and inspection, positioning and guidance, identification and predictive maintenance.

Vertical

  • Industrial
  • Non Industrial

On the basis of vertical, the computer vision market is segmented into industrial and non-industrial.

Computer vision Market Regional Analysis/Insights

The computer vision market is analyzed and market size insights and trends are provided by country, components, product, offering, application and vertical as referenced above.

The countries covered in the computer vision market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the computer vision market because of the increasing investment in the open production plant and growing demand from the full-service restaurants and café/bars within the region.

Asia-Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 due to a huge millennial population, increase in disposable income resulting in high demand for premium alcohol , and availability of various flavored-based alcohol in like China and Japan within the region.

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 like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Computer vision Market Share Analysis

The 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to computer vision market.

Some of the major players operating in the computer vision market are

  • Cognex Corporation (U.S.)
  • Basler AG (Germany)
  • Omron Corporation (Japan)
  • KEYENCE CORPORATION (Japan)
  • National Instruments Corp (U.S.)
  • Sony Corporation (Japan)
  • Teledyne (U.S.)
  • Allied Vision Technologies GmbH (Germany)
  • Texas Instruments Incorporated (U.S.)
  • Intel Corporation (U.S.)
  • Baumer (Germany)
  • JAI (Denmark)
  • MediaTek, Inc. (Taiwan)
  • Cadence Design Systems, Inc. (U.S.)
  • CEVA, Inc. (U.S.)
  • Synopsys, Inc. (U.S.)

Research Methodology : Global Computer vision Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts https://www.databridgemarketresearch.com/speak-to-analyst/?dbmr=global-computer-vision-market

Customization Available : Global Computer Vision Market

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.


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Frequently Asked Questions

The Computer Vision Market is Expected to Show a Value of USD 24.19 billion by 2029.
The Computer Vision Market is Estimated to Register a CAGR of 8.30% During the Forecast Period of 2022 to 2029.
The Major Companies Operating in the Computer Vision Market are Cognex Corporation (U.S.), Sony Corporation (Japan), Teledyne (U.S.), Allied Vision Technologies GmbH (Germany), Texas Instruments Incorporated (U.S.), Intel Corporation (U.S.), Baumer (Germany), Cadence Design Systems, Inc. (U.S.), CEVA, Inc. (U.S.), and Synopsys, Inc. (U.S.).
The Countries Covered in the Computer Vision Market Report are U.S., Canada, Mexico in North America, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Rest of South America as a part of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
The Computer Vision Market Report Curated by the Data Bridge Market Research Team Includes In-Depth Expert Analysis, Patient Epidemiology, Pipeline Analysis, Pricing Analysis, and Regulatory Framework.