Market Overview
Computer vision is a field of computer science that deals with the extraction of meaningful information from digital images and videos. It is a rapidly growing field, with applications in a wide range of industries, including manufacturing, healthcare, transportation, and security.
The global computer vision market is expected to grow from USD 12.9 billion in 2022 to USD 46.13189 billion in 2032, at a CAGR of 15.21%. The growth of the market is being driven by the increasing demand for automation and efficiency in various industries, the development of new deep-learning algorithms, and the growing availability of high-quality data.
Key Companies
Some of the key players in the global computer vision market include:
- Cognex Corporation (U.S.)
- Intel Corporation (U.S.)
- Microsoft Corporation (U.S.)
- NVIDIA Corporation (U.S.)
- Sony Corporation (Japan)
- Teledyne Technologies Incorporated (U.S.)
- Basler AG (Switzerland)
- Samsung Electronics Co., Ltd. (South Korea)
- Keyence Corporation (Japan)
- Xilinx Inc. (U.S.)
- Micron Technology, Inc. (U.S.)
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Market Segmentation
The global computer vision market is segmented by component, product, application, and vertical.
By component, the market is segmented into hardware, software, and services. The hardware segment is further segmented into cameras, image sensors, lenses, and processors. The software segment is further segmented into deep learning algorithms, traditional algorithms, and middleware. The services segment is further segmented into consulting, training, and maintenance.
By product, the market is segmented into smart cameras, PC-based systems, and embedded systems.
By application, the market is segmented into industrial automation, healthcare, transportation, security, retail, and others.
By vertical, the market is segmented into automotive, manufacturing, healthcare, retail, and others.
Top Impacting Factors
The following are the top impacting factors of the global computer vision market:
- Increasing demand for automation and efficiency
- Development of new deep learning algorithms
- Growing availability of high-quality data
- Growing adoption of cloud computing
- Increasing demand for augmented reality and virtual reality
- Rising concerns about security and privacy
Regional Insights
The global computer vision market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
North America is the largest market for computer vision, followed by Europe and Asia Pacific. The growth of the market in North America is being driven by the increasing demand for automation and efficiency in the manufacturing and healthcare industries. The growth of the market in Europe is being driven by the increasing demand for computer vision in the automotive and transportation industries. The growth of the market in Asia Pacific is being driven by the increasing demand for computer vision in the manufacturing, healthcare, and retail industries.
Industry Latest News
- In June 2023, Cognex Corporation announced the launch of its In-Sight 9000 vision system. The In-Sight 9000 is a high-performance vision system that is designed for demanding applications in manufacturing, quality control, and logistics.
- In May 2023, Intel Corporation announced the launch of its OpenVINO toolkit. OpenVINO is a toolkit that makes it easy to deploy deep learning models on Intel hardware.
- In April 2023, Microsoft Corporation announced the launch of its Azure Kinect DK. The Azure Kinect DK is a development kit that allows developers to create computer vision applications using the Azure Kinect sensor.
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