Computer vision is an interdisciplinary scientific field that deals with how computers derive advanced understanding from digital images and videos. Computer vision tasks include how to capture, process, analyze, and understand digital images, and how to extract high-dimensional data from the real world to produce numerical or symbolic information in decision form.
The Computer Vision Market is expected to grow at a strong
CAGR of around 10% owing to the rapid adoption of computer vision systems in
the automotive and transportation industry and the increasing need for
quality inspection and automation. Moreover,
factors such as the growing demand for vision-guided robotic
systems, rising demand for application-specific computer vision
systems, increasing adoption of 3D computer vision systems, and the
growing investment in AI research and development are also contributing to the
growth of the market. For instance, the U.S. National Science Announced a
USD 220 Mn investment in 11 new research AI research institutes.
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Based on product type,
the market is divided into the smart
camera-based system and PC-based system. The demand for PC-based systems is
comparatively higher mainly owing to the low cost, upgradeability, and the
ability to be swapped out for relative ease of use. PC-based vision systems are
commonly used for image processing and require multiple peripherals for other
tasks such as data transfer, frame capture, storage, and lighting.
Based on vertical,
the market is bifurcated into
industrial and non-industrial. The industrial segment is expected to grow at a
substantial CAGR mainly owing to the rapid adoption of computer vision systems
in the automotive and transportation industry. The industry segment includes
industries that use computer vision applications in manufacturing processes
such as automobiles, home appliances, metals, wood and paper, food and
packaging, machinery, and textiles.
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North America captured a significant
share of the market in 2020
North America captured a
notable share of the market in 2020. This high share is attributable to
favorable government initiatives to encourage the adoption of computer vision
and AI across various industries. Additionally, North America has been the
most-promising region across verticals, such as banking and financial services,
telecommunication, e-commerce, and others. Governments and the public sector
are also in a technologically advanced race to serve a large customer base.
According to UnivDatos Market Insights (UMI)’,
the key players with a considerable market share include Cognex
Corporation, Basler AG, Omron Corporation, Keyence Corporation, National
Instruments Corp, Sony Group Corporation, Teledyne Technologies Incorporated,
Texas Instruments Incorporated, Intel Corporation, and MediaTek Inc.
“Global
Computer
Vision Market” provides comprehensive qualitative and quantitative insights on
the industry potential, key factors impacting sales and purchase decisions,
hotspots, and opportunities available for the market players. Moreover, the
report also encompasses the key strategic imperatives for success for
competitors along with strategic factorial indexing measuring competitors’
capabilities on different parameters. This will help companies in the
formulation of go-to-market strategies and identifying the blue ocean for its
offerings.
Market Segmentation:
1. By
Component (Hardware and Software)
2. By
Product Type (Smart Camera-Based System and PC-Based
System)
3. By
Application (Quality Assurance & Inspection,
Positioning & Guidance, Measurement, Identification, Predictive
Maintenance, and 3D Visualization)
4. By
Vertical (Industrial and Non-Industrial)
5. By
Region (North America, Europe, Asia-Pacific, Rest of
the World)
6.
By Company (Cognex
Corporation, Basler AG, Omron Corporation, Keyence Corporation, National
Instruments Corp, Sony Group Corporation, Teledyne Technologies Incorporated,
Texas Instruments Incorporated, Intel Corporation, and MediaTek Inc.)
Key
questions answered in the study:
1.
What are the current and future trends
of the global computer vision industry?
2.
How the industry has been evolving in
terms of type, application, and end users?
3.
How the competition has been shaping
across the countries followed by their comparative factorial indexing?
4.
What are the key growth drivers and
challenges for the global computer vision industry?
5.
What are the customer orientation,
purchase behavior, and expectations from global computer vision suppliers
across various regions and countries?
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