The Global Computer Vision Market to grow from USD 11,981.88 Million in 2019 to USD 19,398.97 Million by 2025, at a Compound Annual Growth Rate (CAGR) of 8.36%.
Market Segmentation & Coverage:
The research report categorizes the Computer Vision Market to forecast the revenues and analyze the trends in each of the following segments:
"The Services is projected to witness the highest growth during the forecast period"
Based on Component, the Computer Vision Market studied across Hardware, Services, and Software. The Hardware commanded the largest size in the Computer Vision Market in 2019, followed by the Software. On the other hand, the Services expected to grow at the fastest CAGR during the forecast period, followed by the Software.
"The Automotive & Transportation is projected to witness the highest growth during the forecast period"
Based on Application, the Computer Vision Market studied across Automotive & Transportation, Consumer Goods & Retail, Gaming, Sports & Entertainments, Healthcare, Industrial Automation, and Security & Surveillance. The Industrial Automation commanded the largest size in the Computer Vision Market in 2019, followed by the Automotive & Transportation. On the other hand, the Automotive & Transportation expected to grow at the fastest CAGR during the forecast period, followed by the Healthcare.
"The Asia-Pacific is projected to witness the highest growth during the forecast period"
Based on Geography, the Computer Vision Market studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas region surveyed across Argentina, Brazil, Canada, Mexico, and United States. The Asia-Pacific region surveyed across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, South Korea, and Thailand. The Europe, Middle East & Africa region surveyed across France, Germany, Italy, Netherlands, Qatar, Russia, Saudi Arabia, South Africa, Spain, United Arab Emirates, and United Kingdom. The Americas commanded the largest size in the Computer Vision Market in 2019, followed by the Europe, Middle East & Africa. On the other hand, the Asia-Pacific expected to grow at the fastest CAGR during the forecast period, followed by the Europe, Middle East & Africa.
The factors attributing to the growth of the market are escalating need for quality inspection and automation, rising demand for application-specific computer vision systems, increasing adoption of 3d computer vision systems, and growing demand for vision-guided robotic systems. However, some factors such as varying end-user requirements, limited availability of skilled workforce, and lack of flexible computer vision solutions may hinder the market growth. The Computer Vision Market expected to showcase the opportunities such as increasing manufacturing of automated and connected cars, government initiatives to support industrial automation, and rising adoption of computer vision systems in uavs. Soon market may face the possible challenges in the growth due to increasing security concerns associated with cloud-based image processing and complexity associated with the integrating computer vision systems. However, the key players in the market are putting regressive efforts to provide innovative offerings and benchmark strategies in the market.
Cumulative Impact of COVID-19:
COVID-19 is an incomparable global public health emergency that has affected almost every industry, so for and, the long-term effects projected to impact the industry growth during the forecast period. Our ongoing research amplifies our research framework to ensure the inclusion of underlaying COVID-19 issues and potential paths forward. The report is delivering insights on COVID-19 considering the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, dynamics of current market forces, and the significant interventions of governments. The updated study provides insights, analysis, estimations, and forecast, considering the COVID-19 impact on the market.
360iResearch Competitive Strategic Window:
The 360iResearch Competitive Strategic Window analyses the competitive landscape in terms of markets, applications, and geographies. The Competitive Strategic Window helps the vendor define an alignment or fit between their capabilities and opportunities for future growth prospects. During a forecast period, it defines the optimal or favorable fit for the vendors to adopt successive merger and acquisition strategies, geography expansion, research & development, and new product introduction strategies to execute further business expansion and growth.
360iResearch FPNV Positioning Matrix:
The 360iResearch FPNV Positioning Matrix evaluates and categorizes the vendors in the Computer Vision Market on the basis of Business Strategy (Business Growth, Industry Coverage, Financial Viability, and Channel Support) and Product Satisfaction (Value for Money, Ease of Use, Product Features, and Customer Support) that aids businesses in better decision making and understanding the competitive landscape.
Company Usability Profiles:
The Computer Vision Market is highly competitive and characterized by the presence of a large number of international and regional players in the market. The market has witnessed increased competition between vendors based on the pricing model, technology differentiation, brand name, quality of service, price differentiation, and technical expertise.
The report profoundly explores the recent significant developments by the leading vendors and innovation profiles in the Global Computer Vision Market, including Allied Vision Technologies GmbH, Basler AG, Blipper, Cisco Systems, Cortexica Vision Systems Ltd, Daimler AG, DATAIKU, Denso Corporation, Facebook Inc., GENERAL ELECTRIC, Image Metrics Inc., Image Sensing Systems, Inc., Infineon Technologies AG, Intel Corporation, Microsoft Corporation, Mobileye NV, NVIDIA Corporation, Occipital, Inc., Orbital Insight, Rethink Robotics, and Unity Technologies.