North America Computer Vision Market, By Component (Hardware, Software), Offering (Deep Learning, Traditional Computer Vision), Application (Quality Assurance & Inspection, Positioning & Guidance, Identification, Predictive Maintenance), Vertical (Industrial, Non Industrial), Product (Smart Camera-based Computer Vision Systems, PC-based Computer Vision Systems), Country (U.S, Canada, and Mexico), Industry Trends and Forecast to 2028.
Market Analysis and Insights: North America computer vision Market
The North America 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 the CAGR of 5.9% in the forecast period of 2021 to 2028 and expected to reach USD 4,394.90 million by 2028.
Computer Vision systems are those systems which can see and understand the world around it just like 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 this systems are data or image acquisition, data or image processing, 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.
Some of the factors which are driving the market are growing adoption of new technologies in computer vision units. Increasing growth in large datasets and artificial intelligence is leading to growth opportunities in the market. Security threats in neural networks and deep learning is acting as 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, geographical 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.
North America Computer Vision Market Scope and Market Size
The North America 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 North America computer vision market has been segmented into hardware, software. In 2021, the hardware held a larger share in the market, as hardware reduce costs by automating routine tasks in computer vision.
- On the basis of application, the North America computer vision market has been segmented into quality assurance & inspection, positioning & guidance, identification, predictive maintenance. In 2021, quality assurance & inspection held a larger share in the market, as it fosters customer satisfaction and also improves production methods in the organization.
- On the basis of vertical, the North America computer vision market has been segmented into industrial and non industrial. In 2021, industrial category held the largest share in the market as industry 4.0 is forcing to use automation which reduces manufacturing costs which ultimately increases productivity.
- On the basis of product, the North America computer vision market has been segmented into smart camera-based computer vision systems and PC-based computer vision systems. In 2021, smart camera-based computer vision systems held a larger share in the market as the smart camera-based computer vision systems are less costly and requires less maintenance than PC-based computer vision systems. Smart camera-based computer vision systems are easier to integrate with existing automation system.
.North America Computer Vision Market Country Level Analysis
The North America computer vision market is analysed and market size information is provided by the country, component, application, vertical, and product.
The countries covered in North America computer vision market report are the U.S., Canada and Mexico.
The U.S. accounted for maximum share in the North America computer vision market owing to factors such as presence of large number of companies manufacturing computer visions hardware and software and the companies are using AI and deep learning for their automation and optimizing there processes.
The country section of the North America computer vision 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 such as new sales, replacement sales, country demographics, regulatory acts and import-export analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global 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.
Increasing adoption of Contract Manufacturing
The North America computer vision market also provides you with detailed market analysis for every country growth in installed base of different kind of products for North America computer vision market, impact of technology using life line curves and changes in requirement of abrasives products, regulatory scenarios and their impact on the North America computer vision market. The data is available for historic period of 2019.
Competitive Landscape and North America Computer Vision Market Share Analysis
The North America 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, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, 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 North America computer vision market.
Some of the major players operating in the North America Computer vision market are Cognex Corporation, Omron Corporation, Teledyne Technologies Incorporated, Texas Instruments Incorporated, Intel Corporation, Sony Corporation, ISRA Vision AG, Baumer, MVTECH Software GmbH, Clarifai Inc., Tordivel Inc., SICK AG, JAI A/S, CEVA Inc., Synopsys Inc., Keyence Corporation, Cadence Design Systems Inc., National Instruments Corp., Basler AG, Ametek Inc., among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In March 2020, KEYENCE CORPORATION launched a new product in Vision System with Pattern Projection Lighting CV-X Series, which is capable of 2D Inspection Vision System, Height Extraction, 3D Inspection among other vision controller powers it. It was a unique product that can inspect and analyse the flaws and be widely used in automobile companies. It is a great asset for the company because of its reliability in detecting flaws.
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 North America computer vision market through expanded product range.
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