Middle East and Africa 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 (South Africa, Egypt, Saudi Arabia, U.A.E, Israel and Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights: Middle East and Africa Computer Vision Market
Middle East & Africa 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 4.6 % in the forecast period of 2021 to 2028 and expected to reach USD 1,730.38 million by 2028. Growing demand for identification verification and rising demand for augmented reality 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 which are driving the market are growing demand for identification verification and adoption of AI using computer vision. But difficulty in object localization and detection can be a restraining factor for the Middle East & Africa computer vision market growth. Growing interest towards financial services and agriculture sector are among some of the factors which can be an opportunity for the market. Complexity involved in designing of computer vision system can be a 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.
Middle East & Africa Computer Vision Market Scope and Market Size
Middle East & Africa 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 Middle East & Africa computer vision market is segmented into hardware and software. In 2021, hardware holds the major share in the market owing the factors like growing adaptation for AI using computer vision system. The components such as cameras, lighting, optics, lens, frame grabbers are the essential hardware components required for computer vision. These components are used by AI based computer vision system which is used across various industries in Middle East.
- On the basis of application, the Middle East & Africa computer vision market has been segmented into predictive maintenance, identification, positioning & guidance, quality assurance & inspection. In 2021, quality assurance & inspection holds the 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 healthcare, agriculture among others in countries like U.A.E. and Egypt.
- On the basis of vertical, Middle East & Africa 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 for object detection, classification, error detection, defect detection among others in various industries such as automotive, manufacturing, consumer electronics among others across Middle East and Africa.
- On the basis of product, Middle East & Africa 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 holds the argest share in the market owing to factors like growing demand for smart systems that are aided by AI and deep learning based computer vision systems which proves to be highly accurate and precise in decision making. Owing to these features these smart camera-based computer vision systems are gaining lot popularity in across Middle East and Africa.
Middle East & Africa Computer Vision Market Country Level Analysis
Middle East & Africa computer vision market is analysed and market size information is provided by country, component, application, vertical, and product.
The countries covered in Middle East & Africa Computer Vision Market report are Saudi Arabia, U.A.E., Israel, South Africa, Egypt and rest of Middle East and Africa.
Saudi Arabia dominates the computer vision market owing to various factors like growing demands for identification verification and 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 Middle East & Africa 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
Middle East & Africa 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 Middle East & Africa computer vision market. The data is available for historic period of 2010 to 2019.
Competitive Landscape and Middle East & Africa Computer Vision Market Share Analysis
Middle East & Africa 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, Middle East & Africa 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 Middle East & Africa computer vision market.
The major players covered in the report are Cognex Corporation, Teledyne Technologies Incorporated, Texas Instruments Incorporated, Intel Corporation, ISRA VISION AG, SICK AG, JAI A/S, SONY CORPORATION, CEVA, Inc., Synopsys, Inc., KEYENCE CORPORATION, Cadence Design Systems, Inc., and NATIONAL INSTRUMENTS CORP., 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 Middle East & Africa computer vision market.
For instance,
- In March 2021, Basler AG launched a new vision Processing Kit that includes various interfaces for image processing, allowing the connection of various camera types. This kit also has a reliable pylon Camera Software that provides drivers for all types of camera interfaces. This capability of holding and supporting various interfaces makes it a versatile product that will add to the company’s portfolio.
- In December 2020, Basler AG launched a new Basler Cameras for Android applications. It offers its pylon software for its ace, ace 2, dart, and pulse cameras for Android systems. This product will allow customers to use industry-proven Basler machine vision cameras on Android operating systems. It can also be used in medical technology, production inspection, or vehicle monitoring.
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 Middle East & Africa computer vision market through expanded range of size.
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