Maximize Market Research a leading Electronics research firm has published a market intelligence report on the Global Computer Vision Market. As per the report, the total market opportunity by 2030 is expected to be USD 29.43 Bn. The total market was valued at USD 17.39 Bn. in 2023 and it is expected to grow at a CAGR of 7.8 percent during the forecast period.
Market Size in 2023: USD 17.39 Billion
Market Size in 2030: USD 29.43 Billion
CAGR: 7.8 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 228
No. of Tables: 136
No. of Charts and Figures: 197
Segment Covered: By Component, Product, Application and End-User
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
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Computer Vision Market Report Scope and Research Methodology
The report aims to delve into the global computer vision market and focusing on various sectors such as healthcare, automotive, retail, manufacturing, and security. Its objective is to uncover and analyze notable trends, obstacles, prospects, and influential factors within these industries. Furthermore, the report will scrutinize market segmentation by exploring diverse components, deployment methods, and end-user sectors, providing valuable insights into emerging technologies and market trends.
Regarding research methodology, the report rely on both primary and secondary research approaches. Primary research will involve interviews with industry experts, stakeholders, and decision-makers to gather firsthand insights. Concurrently, secondary research will entail a comprehensive review of existing literature, market studies, company reports, and statistical data. Through meticulous qualitative and quantitative analyses, the aim is to authenticate findings and ensure the precision and dependability of the market insights presented in the report.
Computer Vision Market Overview
The computer vision market is experiencing significant growth thanks to progress in technology, particularly artificial intelligence and machine learning. It covers several sectors including healthcare, automotive, retail, manufacturing, and security, with applications like image recognition and gesture detection. Demand is rising for automation, surveillance, and augmented reality. Emerging trends involve computer vision in autonomous vehicles, medical diagnostics, and retail solutions. Continued innovation and research investments indicate further growth and transformation across industries.
Computer Vision Market Dynamics
The computer vision market experiences constant change, fueled by advancements in technology and growing demand across various sectors like healthcare, automotive, retail, manufacturing, and security. Drivers include the push for automation, improved surveillance, and augmented reality. Emerging trends involve its use in autonomous vehicles, medical diagnostics, and retail innovations. Challenges include privacy issues, data security, and algorithm fairness. Market dynamics are influenced by ongoing innovation, investment in research and development, and evolving customer needs. As the market evolves, stakeholders must adapt to regulatory shifts and emerging technologies to seize growth opportunities and address challenges.
Computer Vision Market Regional Insights
In the global computer vision market, North America stands out as a major player. This is because the region has strong technology infrastructure, with big investments in research and development. Plus, its home to key industry giants like Intel Corporation, Google LLC, and Microsoft Corporation.
In United states these companies like Intel Corporation, Google LLC, and Microsoft Corporation drive innovation and adoption of computer vision across different fields. Moreover, in healthcare, computer vision is changing how diagnoses are made and surgeries are performed. Similarly, in automotive, it’s improving vehicle safety and navigation.
Government initiatives and partnerships between academia and industry further fuel growth in this sector. With its supportive environment for tech innovation and a strong focus on digital transformation, the United States remains at the forefront of shaping the computer vision market worldwide.
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Computer Vision Market Segmentation
By Component
- Hardware
- Software
- Service
In the global market for computer vision, three primary components shape its landscape: hardware, software, and services. Among these, the hardware segment holds prominence. This segment includes various elements like cameras, sensors, processors, and memory devices, crucial for powering computer vision systems. These components are pivotal for capturing and processing visual data across diverse applications, from surveillance cameras to autonomous vehicles. Given their essential role in facilitating the functionality of computer vision systems, the hardware segment is anticipated to sustain its dominance in the market, driving forward advancements and innovations in visual interpretation and recognition.
By Product
- PC-based Computer Vision Systems
- Smart Cameras-based Computer Vision Systems
In the global market for computer vision, two main product categories shape its landscape as PC-based Computer Vision Systems and Smart Cameras-based Computer Vision Systems. Among these, the Smart Cameras-based Computer Vision Systems segment takes precedence. These systems leverage smart cameras equipped with advanced imaging technology for capturing and analyzing visual data. Known for their flexibility and ease of deployment, they find applications across various fields. With their real-time insights and role in automating decision-making processes, Smart Cameras-based Computer Vision Systems are anticipated to maintain their dominance in the market, driving ongoing innovation and progress in visual interpretation and recognition.
By Application
- Quality Assurance and Inspection
- Positioning and Guidance
- Measurement
- Identification
- Predictive Maintenance
In the global computer vision market, Quality Assurance and Inspection stand out as the dominant segment. It focuses on ensuring product quality and compliance with industry standards by using computer vision for tasks like inspecting manufacturing processes and identifying defects. This segment plays a crucial role in enhancing efficiency and accuracy across industries, driving advancements in visual inspection technologies.
By End-User
- Industrial
- Non-industrial
In the global market for computer vision, two main categories define its scope as Industrial and Non-industrial. Among these segments, the Industrial sector stands out as the dominating force. This segment is marked by its focus on industrial applications, spanning manufacturing, logistics, and quality control.
Computer Vision Market Key Competitors include:
- NVIDIA Corporation US
- Intel Corporation US
- Microsoft Corporation US
- Amazon Web Services (AWS) US
- IBM Corporation US
- Google LLC US
- Facebook, Inc. (Meta Platforms) US
- Apple Inc. US
- Qualcomm Incorporated
- Cognex Corporation
- ARM Limited
- Graphcore
- Basler
- Bosch
- Dassault Systemes
- Thales Group
- SenseTime
- Zhejiang Dahua Technology
- Hikvision
- Alibaba Group
- Wipro
- Mobileye
- Embraer
Key questions answered in the Global Computer Vision Market are:
- What is the expected CAGR of the Computer Vision Market during the forecast period?
- What was the Computer Vision Market Size in 2023?
- What is the expected Computer Vision Market size in 2030?
- What are the global trends in the Computer Vision Market?
- What are the upcoming industry applications and trends for the Computer Vision Market?
- What recent industry trends can be implemented to generate additional revenue streams for the Computer Vision Market?
- What growth strategies are the players considering to increase their presence in the Computer Vision Market?
- What major challenges could the Computer Vision Market face in the future?
- Who held the largest market share in the Computer Vision Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segment | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis By Component, Product, Application and End-User.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Electronics research firm, has also published the following reports:
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Computer Graphics Market: Computer Graphics Market was valued US$ 38.88 Bn. in 2022 and is expected to reach US$ 61.62 Bn. by 2029, at a CAGR of 6.8% during a forecast period. An increase in the penetration of mobile devices and attention towards content customization and personalization are boosting the growth in the global market.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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