The Computer Vision Global Market Report 2023 by The Business Research Company, provides computer vision market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s Computer Vision Global Market Report 2023, the market size 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global computer vision market size is expected to grow to $23.06 billion in 2027 at a CAGR of 11.4%.
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.
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The computer vision market is segmented:
1) By Product: Smart Camera-Based Computer Vision Systems, PC-Based Computer Vision Systems
2) By Component: Hardware, Software
3) By Offering: Deep Learning, Traditional Computer Vision
4) By Application: Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification, Predictive Maintenance, 3D Visualization and Interactive 3D Modelling
5) By End-User Industry: Life Science, Manufacturing, Defense and Security, Automotive, Other End User Industries
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.
The computer vision market report table of contents includes:
1. Executive Summary
2. Computer Vision Market Characteristics
3. Computer Vision Market Trends And Strategies
4. Computer Vision Market – Macro Economic Scenario
5. Computer Vision Market Size And Growth
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26. Africa Computer Vision Market
27. Computer Vision Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Computer Vision Market
29. Computer Vision Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
- Cognex Corporation
- Intel Corporation
- Keyence Corporation
- National Instruments Corporation
- Omron Corporation
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