[181 Pages Report] The Computer Vision Market size was estimated at USD 16.59 billion in 2023 and expected to reach USD 18.25 billion in 2024, at a CAGR 10.11% to reach USD 32.59 billion by 2030.
Computer vision focuses on developing software algorithms, technologies, and applications that enable machines to interpret visual information from the physical world. Integrating artificial intelligence, machine learning, image processing techniques, and hardware devices support various functions such as object detection, facial recognition, scene understanding, video analysis, and augmented reality across various end-user industries. The growing demand for application-specific computer vision systems catering to diverse markets such as retail analytics, healthcare diagnostics, and agriculture automation. In addition, the increasing manufacturing of automated and connected cars relies heavily on advanced computer vision technologies for autonomous navigation, object recognition, and safety features. High implementation costs associated with sophisticated hardware and software systems may limit small or medium-sized enterprises from investing in these cutting-edge technologies. Additionally, the reliance on cloud computing platforms for storing sensitive data and real-time processing raises questions related to data privacy and unauthorized access, further negatively affecting the need for computer vision solutions. However, the adoption of 3D computer vision systems is improving due to advancements in machine learning algorithms and AI capabilities that enable advanced depth perception and object recognition capabilities. Moreover, government initiatives worldwide are supporting industrial automation by providing funding for research projects or offering tax incentives for investments in advanced technology infrastructure.
Computer vision technology has been rapidly adopted across various American industries, including automotive, healthcare, and retail. The government framework in the developed economies of the United States and Canada has actively encouraged research and development, fostering innovation and collaboration among businesses. European Union (EU)'s stringent regulations on data privacy have led companies to focus on developing innovative solutions that comply with the rules and fulfill the need for computer vision solutions. The Middle East is experiencing steady growth in adopting AI technologies, including computer vision, across multiple sectors, such as smart cities and the oil & gas industry. APAC countries represent a highly evolving computer vision market due to major investments, innovations, and collaboration in computer vision technologies. The Asian economies have invested heavily in robotics and manufacturing automation, strongly focusing on incorporating computer vision capabilities.
The FPNV Positioning Matrix is pivotal in evaluating the Computer Vision Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Computer Vision Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
XTEND Announces Partnership with Edge AI and Computer Vision Pioneers SightX
Xtend is excited to announce its partnership with SightX, a pioneer in the field of computer vision. This partnership aims to leverage combined technological expertise in Edge AI and Computer Vision and develop innovative applications such as smart object detection, surveillance, and tracking capabilities. These advancements will significantly impact industries such as industrial IoT and transportation. [Published On: 2023-06-20]
AWS and SK Telecom Collaborate to Co-Develop Computer Vision AI Services
AWS Inc. and SK Telecom have recently joined forces in a strategic collaboration to co-develop cutting-edge computer vision AI services. By combining their computing capabilities and industry-leading computer vision technologies, both companies aim to create innovative solutions that significantly enhance customer experience. This collaboration enables leveraging each company's strengths and expertise, developing groundbreaking AI services in computer vision. [Published On: 2022-09-29]
Voxel51 Raises USD 12.5 Million Series A to Bring Transparency and Clarity to Computer Vision Data
Voxel51, a company specializing in computer vision, has secured a significant investment of USD 12.5 million in Series A funding. This financial support aims to further the development of innovative products and services in computer vision technology. Drive Capital led the funding round, with participation from prominent investors such as Costanoa Ventures and Revolutionary Ventures, among others. [Published On: 2022-09-21]
The report delves into recent significant developments in the Computer Vision Market, highlighting leading vendors and their innovative profiles. These include Allied Vision Technologies GmbH, Amazon Web Services, Inc., Basler AG, Blippar Group Limited, Cisco Systems, Inc., Cognex Corporation, Dataiku, Denso Corporation, General Electric Company, Google LLC by Alphabet Inc., Image Metrics, Infineon Technologies AG, Intel Corporation, International Business Machines Corporation, KEYENCE CORPORATION, Matterport, Inc., Meta Platforms, Inc., Microsoft Corporation, NVIDIA Corporation, Omron Corporation, Oracle Corporation, SAS Institute Inc., Teledyne Technologies Incorporated, Texas Instruments Incorporated, Unity Technologies, Verizon, and Zebra Technologies Corp..
This research report categorizes the Computer Vision Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Component
- Hardware
- Services
- Software
- Application
- Identification
- Measurement
- Positioning & Guidance
- Predictive Maintenance
- Quality Assurance & Inspection
- End-Use
- Automotive & Transportation
- Consumer Goods & Retail
- Gaming, Sports & Entertainment
- Healthcare
- Industrial Automation
- Security & Surveillance
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
- What is the market size and forecast of the Computer Vision Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Computer Vision Market?
- What are the technology trends and regulatory frameworks in the Computer Vision Market?
- What is the market share of the leading vendors in the Computer Vision Market?
- Which modes and strategic moves are suitable for entering the Computer Vision Market?
- Preface
- Research Methodology
- Executive Summary
- Market Overview
- Market Insights
- Computer Vision Market, by Component
- Computer Vision Market, by Application
- Computer Vision Market, by End-Use
- Americas Computer Vision Market
- Asia-Pacific Computer Vision Market
- Europe, Middle East & Africa Computer Vision Market
- Competitive Landscape
- Competitive Portfolio
- List of Figures [Total: 22]
- List of Tables [Total: 296]
- List of Companies Mentioned [Total: 27]
Promoting Research and Development:
Governments worldwide are investing heavily in research and development, as they believe it is vital for the growth and success of any industry. They support research institutions and universities working on computer vision technology. By promoting research and development, governments are helping advance computer vision, creating more efficient and cost-effective industrial automation solutions.
Funding and Subsidies:
Many governments provide funding and subsidies to companies working on computer vision solutions. The subsidies help companies to develop and implement computer vision technology more quickly and effectively. These initiatives benefit the technology companies and the industrial sector, as they access more cost-effective and efficient automation solutions.
Workforce Training:
Adopting computer vision technology requires a skilled workforce to manage and handle the systems. Various countries' governments support technical training and vocational education programs to create a talented workforce for the industrial sector. The trained workforce can help implement and maintain computer vision technology, which is vital for the successful adoption of the technology in industrial automation.
Collaboration:
Governments collaborate with industry leaders, research institutions, and universities to develop computer vision solutions supporting industrial automation. Collaboration between the public and private sectors has resulted in the development of more efficient and cost-effective automation solutions.
Regulatory Policies:
The governments of various countries are developing regulatory policies and standards for using computer vision in industrial automation. The policies ensure that the technology is used safely and ethically. The development of these policies has helped in the acceptance and widespread adoption of computer vision technology in the industrial sector.
Computer vision technology has positively impacted the industrial sector, bringing in more efficient and cost-effective solutions that improve productivity. Governments are interested in computer vision and initiating projects to support industrial automation. The initiatives taken by governments in promoting research and development, funding and subsidies, workforce training, collaboration, and development of regulatory policies have accelerated the adoption of computer vision in industrial automation.
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