Global Computer Vision Technologies Market, By Component (Software, Hardware), Application (Face Recognition, Gesture Recognition, Character Recognition, Others), End-User (Industrial, Non-Industrial), Product (PC-Based Computer Vision System, Smart Camera-Based Computer Vision System), Country (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 Middle East and Africa) Industry Trends and Forecast to 2027
Global computer vision technologies market is expected to reach approximately USD 23.00 billion by 2027 at a CAGR of 7.9% in the forecast period of 2020 to 2027. Data Bridge Market Research report on computer vision technologies market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market growth.
Computer vision technology is a field of machine learning and artificial intelligence, whose main objective is to understand the content of digital images. Computer vision technology is very useful and have adapted by many industrial sectors such as manufacturing, healthcare, defense & security. This market is in its early phase, but due to the benefits associated with the technology, it is expected that the market has an enormous opportunity in the future. Computer vision is cooperatively used in the field of deep learning, neural networks, machine learning, and others. It is also used for other applications such as gesture analysis, image restoration, facial recognition and others.
The demand for the computer vision technology is increasing in manufacturing industry because of its cost-effectiveness. With the support of computer vision, the manufacturers are capable to deploy predictive maintenance for far-off site inspections of pipelines, rigs, plants and fields. With the help of computer vision, product quality and packaging can also be monitored and through this step, the defective products are also reduced in the manufacturing units, these are the factors which are driving the growth of global computer vision technologies market. In India, the healthcare sector is growing exponentially due to an increase in the government initiatives. For instance, According to the report of India Brand Equity Foundation in 2018, India was awarded with the destination for providing the high-end diagnostic services and the cost of surgery in India is about one-tenth of that in the US or Western Europe. Moreover, India is experiencing the growth in medical tourism by 22-25 % and the industry is expected to reach USD 9 billion by 2020.
The computer vision aiming to secure the data and services, reduce operational cost, improve business efficiency, and operational performance. With the help of Computer vision, many organizations can increase the productivity and efficiency and can ensure the protection of the data. In addition, the solutions are proven to be reliable and improve scalability; these factors are providing more opportunities to the market.
The computer vision industry is facing challenges owing to the factors such as dearth of awareness among users about the continuous upgradation in the technology. Also, the complexity of integrating machine vision systems is the major challenges for manufacturers. These factors are also restraining the growth of the market.
This computer vision technologies market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised 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 Data Bridge Market Research computer vision technologies market contact us for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Computer Vision Technologies Market Scope and Market Size
Computer vision technologies market is segmented on the basis of component, application, end-user 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.
- Global computer vision technologies market on the basis of component has been segmented into software and hardware.
- Based on application, the computer vision technologies market is segmented into face recognition, gesture recognition, character recognition, and others.
- On the basis of end-user, the computer vision technologies market is segmented into industrial and non-industrial. Industrial is sub-segmented into agriculture, automotive, healthcare, entertainment, consumer electronics, transportation, and others.
- Based on product, the computer vision technologies market is divided into PC-based computer vision systems and smart cameras-based computer vision systems.
Global Computer Vision Technologies Market Country Level Analysis
Computer vision technologies market is analysed and market size, volume information is provided by country, component, application, end user and product as referenced above.
The countries covered in the computer vision technologies market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).
North America is ruling the artificial intelligence (AI) in computer vision technologies market with the potential speed due to the adoption of machine/computer vision across various industries, vertical majorly the manufacturing and automotive. The Asia-pacific is expected to develop as the fastest-growing regional market over the forecast period owing to the rising demand for progression in medical care services in the Asia-Pacific market. The healthcare industry is continuously engaged in using computer vision for accurate and fast medical reports, radiology and, or measuring the blood lost during surgeries, majorly during C-section procedures is boosting the computer vision market in Asia-pacific. According to Healthcare Predictions in Asia-Pacific report, the demand for healthcare sector in the Asia-Pacific region is growing rapidly.
The country section of the computer vision technologies market 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 Global Computer Vision Technologies Market Share Analysis
Computer vision technologies 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, regional presence, 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 technologies market.
The major players covered in the computer vision technologies market report are Intel Corporation, Keyence Corporation, Microsoft Corporation, Nvidia Corporation, Sony Corporation, Autoliv Inc, Cognex Corporation, NATIONAL INSTRUMENTS CORP., Basler AG, ISRA VISION AG, Cadence Design System, Inc., Baumer, MediaTek Inc., Zebra Technologies Corp, MVTec Software GmbH, Synopsis, Inc., OMRON Corporation, A Teledyne Technologies company, Dataiku, Cortexica Vision, DENSO CORPORATION are some of the strong global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Computer Vision Technologies Market
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