Dublin, May 23, 2023 (GLOBE NEWSWIRE) -- The "Computer Vision Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the market.
The global computer vision market is expected to grow from $13.45 billion in 2022 to $14.95 billion in 2023 at a compound annual growth rate (CAGR) of 11.2%. The computer vision market is expected to grow to $23.06 billion in 2027 at a CAGR of 11.4%.
Major players in the computer vision market are Cognex Corporation, Intel Corporation, Keyence Corporation, National Instruments Corporation, Omron Corporation, Sony Semiconductor Solutions Corporation, Texas Instruments Incorporated, Matterport Inc., Teledyne Technologies Incorporated., Baumer Holding AG, JAI, MediaTek Inc., Cadence Design Systems Inc., CEVA Inc., Synopsys Inc., and SAS Institute.
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Computer vision refers to artificial intelligence (AI) that enables computers and systems to extract useful information from digital photos, movies, and other visual inputs and act upon that information or provide recommendations.
The main products of computer vision include smart-camera-based computer vision systems and PC-based compute vision systems. Smart camera-based computer vision systems refer to image verification system (IVS) cameras that perform an inspection at speed, linking directly to the production line and factory information to deliver both immediate inspection and production data.
They consist of hardware and software components for deep learning and traditional computer vision offerings for applications in quality assurance and inspection, positioning and guidance, measurement, identification, predictive maintenance, 3D visualization, and interactive modeling for use by various end-user industries such as life science, manufacturing, defense and security, automotive, and others.
Technological advancement is a key trend gaining popularity in the computer vision market. Major companies operating in the computer vision market are focused on innovating new technologies to sustain their position in the market.
For instance, in January 2022, Amazon Web Services, Inc., a US-based cloud computing platform provider, launched AWS Panorama, a software development kit in the Asia-Pacific that improves operations with computer vision (CV). AWS Panorama is a collection of the software development kit (SDK) and machine learning (ML) devices that bring CV to on-premises internet protocol (IP) cameras. AWS Panorama is useful for businesses to automate visual inspection tasks like evaluating manufacturing quality, locating bottlenecks in industrial processes, and determining worker safety within their facilities.
In May 2022, BeMyEye Holdings Ltd., a UK-based provider of AI and retail execution management solutions, acquired Metaliquid Srl for an undisclosed amount. This acquisition is expected to allow BeMyEye's customers to improve sales on a large scale retail. Metaliquid Srl is an Italy-based computer vision company specializing in audio and video analysis based on deep-learning technology.
Asia-Pacific was the largest region in the computer vision market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the computer vision market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the computer vision market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The increasing demand for artificial intelligence is expected to propel the growth of the computer vision market going forward. Artificial intelligence refers to the science and engineering of making intelligent machines, especially intelligent computer programs. Artificial intelligence (AI) in computer vision enables computers and systems to extract useful information from digital photos, movies, and other visual inputs and provide recommendations, and thus, the increase in demand for artificial intelligence is boosting the growth of computer vision.
For instance, in February 2022, according to an article published by the Computing Technology Industry Association (CompTIA), a US-based non-profit trade association that issues professional certifications for the information technology industry, 86% of organizations reported that artificial intelligence (AI) is considered mainstream technology in their offices as of 2021. 91.5% of leading businesses invest in AI on an ongoing basis. Therefore, the increasing demand for artificial intelligence is driving the growth of the computer vision market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $14.95 billion |
| Forecasted Market Value (USD) by 2027 | $23.06 billion |
| Compound Annual Growth Rate | 11.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Computer Vision Market Characteristics
3. Computer Vision Market Trends And Strategies
4. Computer Vision Market - Macro Economic Scenario
4.1. COVID-19 Impact On Computer Vision Market
4.2. Ukraine-Russia War Impact On Computer Vision Market
4.3. Impact Of High Inflation On Computer Vision Market
5. Computer Vision Market Size And Growth
5.1. Global Computer Vision Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Computer Vision Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Computer Vision Market Segmentation
6.1. Global Computer Vision Market, Segmentation By Product, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Smart Camera-Based Computer Vision Systems
- PC-Based Computer Vision Systems
6.2. Global Computer Vision Market, Segmentation By Component, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Hardware
- Software
6.3. Global Computer Vision Market, Segmentation By Offering, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Deep Learning
- Traditional Computer Vision
6.4. Global Computer Vision Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Quality Assurance And Inspection
- Positioning And Guidance
- Measurement
- Identification
- Predictive Maintenance
- 3D Visualization And Interactive 3D Modelling
6.5. Global Computer Vision Market, Segmentation By End-User Industry, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Life Science
- Manufacturing
- Defense And Security
- Automotive
- Other End User Industries
7. Computer Vision Market Regional And Country Analysis
7.1. Global Computer Vision Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Computer Vision Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/wtgokp
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