The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

 

The global computer vision market is on a trajectory of remarkable growth, set to increase from $13.45 billion in 2022 to $14.95 billion in 2023, boasting a robust compound annual growth rate (CAGR) of 11.2%. The momentum continues, with projections anticipating the market to surge to $23.06 billion by 2027, sustaining a CAGR of 11.4%. What fuels this expansion? Let’s explore the key drivers, industry players, and emerging trends shaping the computer vision landscape.

 

Artificial Intelligence Acceleration: Driving Market Surge

– The Power of AI

The escalating demand for artificial intelligence (AI) stands as a pivotal force propelling the growth of the computer vision market. AI, the science of creating intelligent machines and computer programs, finds a powerful ally in computer vision, enabling systems to extract valuable information from visual inputs like photos and movies.

– Real-world Impact

A notable indicator of AI’s mainstream adoption is the statistic from the Computing Technology Industry Association (CompTIA). In 2021, 86% of organizations reported that AI had become a mainstream technology in their offices, with 91.5% of leading businesses investing in AI on an ongoing basis.

– Market Implication

The surge in AI adoption amplifies the demand for computer vision, as businesses harness its capabilities to extract insights, provide recommendations, and enhance decision-making processes.

 

Industry Titans: Key Players Shaping the Landscape

– Market Leaders

Major players in the computer vision market include Cognex Corporation, Intel Corporation, Keyence Corporation, and Sony Semiconductor Solutions Corporation, among others. Their strategic initiatives and technological prowess play a significant role in shaping the industry landscape.

 

Technological Advancement: Catalyst for Innovation

– Trending Innovation

Technological advancement emerges as a key trend gaining popularity in the computer vision market. Leading companies are fervently innovating to stay at the forefront of the market.

– Pioneering Example

In January 2022, Amazon Web Services, Inc. introduced AWS Panorama, a software development kit (SDK) designed to enhance operations with computer vision. This SDK brings computer vision capabilities to on-premises internet protocol (IP) cameras, enabling businesses to automate visual inspection tasks, assess manufacturing quality, identify bottlenecks in industrial processes, and enhance worker safety.

– Market Impact

Such innovations showcase the transformative power of computer vision in diverse applications, from manufacturing quality assurance to ensuring safety within facilities.

 

Market Segmentation: Understanding Diversity

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 Modeling

5) By End-User Industry

• Life Science
• Manufacturing
• Defense and Security
• Automotive
• Other End User Industries

This segmentation provides a comprehensive understanding of the diverse applications and utility of computer vision across various industries.

 

Regional Dynamics: Asia-Pacific Leading, North America Surging

– Regional Landscape

In 2022, Asia-Pacific emerged as the largest region in the computer vision market, underscoring its dominance in market share and consumption. Looking ahead, North America is expected to be the fastest-growing region during the forecast period.

– Strategic Significance

Asia-Pacific’s leadership position reflects the region’s dynamic tech landscape and rapid adoption of computer vision technologies. Meanwhile, North America’s anticipated surge emphasizes its role as a key player in driving global market growth.

 

Get A Free Sample On The Global Computer Vision Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=8952&type=smp

 

Read The Full Computer Vision Market Report Here:
https://www.thebusinessresearchcompany.com/report/computer-vision-global-market-report

 

The Computer Vision Global Market Report 2023  provides an overview of the computer vision market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The computer vision market forecast analyzes computer vision market size, computer vision market share, leading competitor and their market positions.

 

Explore Similar Reports From The Business Research Company:

AI In Computer Vision Global Market Report 2023

3D Medical Imaging Devices Global Market Report 2023

Diagnostic Imaging Equipment Global Market Report 2023

 

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

 

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

 

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: