Market Overview:

The strong demand to equip computers with human-like vision has created significant traction in the computer vision market worldwide. The concept of computer vision as a scientific flow involves techniques and theories to create artificial systems that collect information from images or multidimensional data. The computer vision market is expected to grow at a CAGR of approximately 31.65% over the forecast period from 2017 to 2023, with sales of approximately US$48.32 billion by 2023.

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Since computer vision is one of the most complex processes attempted to understand and create, the development of the market is still in its infancy and is expected to generate a lot of inertia in terms of demand, investment, research and development. It will promote future growth. The development of virtual and augmented reality, along with the surge in demand for mobile devices, are some of the factors driving the advancement of the computer vision market. In addition, new technologies such as artificial learning, machine learning, deep learning, virtual reality, augmented reality, neural networks, etc. are focusing on the development of new products that can further advance the computer vision market.

Key Players:

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The trends and players have created a positive tone for market development. The incentive for the market’s growth in turn has improved the competitive backdrop of the market. KLA-Tencor Corporation (U.S.), Facebook Inc. (U.S.), Microsoft Corporation (U.S.), Google LLC (U.S.), National Instruments Corporation (U.S.),Nvidia Corporation (U.S.), Mercedes-Benz (Germany), Wikitude GmbH (Germany), Autoliv Inc (U.S.), IBM Corporation (U.S.), PlayfulVision (Switzerland), Cognex Corporation (U.S.), VideoIQ (U.S.), General Electric (U.S.), among others are the key players that are shaping the market significantly

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Market Segmentation:

Component Outlook

• Hardware

• Software

Product Type Outlook

• Smart Camera-based

• PC-based

Application Outlook

• Quality Assurance & Inspection

• Positioning & Guidance

• Measurement

• Identification

• Predictive Maintenance

Also Read: https://www.globenewswire.com/news-release/2019/05/29/1856376/0/en/...

• 3D Visualization & Interactive 3D Modelling

Vertical Outlook

• Industrial

• Non-Industrial

Regional Insights:

The Asia Pacific region dominated the computer vision market, accounting for more than 38.0% of global sales in 2019. This is due to a significant increase in investment in computer vision technology by Chinese companies. For example, the People’s Republic of China (PRC) owned about 66% of the total capital invested by businesses in 2018, which is almost three times the capital invested in U.S.-based companies. In addition, capital investment in China’s computer vision was 20 times more than venture capital in 2017. Additionally, government strategic initiatives are driving the growth of computer vision technology in the region. China, for example, has deployed about 176 million cameras domestically to meet the demand for upgraded surveillance. Additionally, the government is giving tech companies access to large data sets to build training models for computer vision applications.

Company name: Market Research Future

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