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 2030.
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 12.98 billion in 2022 and is expected to reach USD 29.19 billion by 2030, registering a CAGR of 8.32% during the forecast period of 2023 to 2030. 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.
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Computer Vision Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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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.)
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Market Opportunities
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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.
Global Computer Vision Market Dynamics
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). In addition, the growing demand for mobile devices is estimated to bolster the market's overall growth.
Opportunity
- 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. In addition, the integrating several technological advancements in safety systems will also offer numerous growth opportunities within the market.
Restraints/Challenges
- 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.
Recent Development
- 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
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
Global Computer Vision Market Region Analysis/Insights
The computer vision market is analyzed and market size insights and trends are provided by 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 2023 to 2030 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 such as 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 such as down-stream and up-stream 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 Global 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 company’s 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.)
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