Computer Vision Market worth $17.4 billion by 2023 growing with a CAGR of 7.8%
According to the new market research report on the "Computer Vision Market by Component (Hardware (Camera, Frame Grabber, Optics, Processor) and Software (Deep Learning and Traditional Software)), Product (PC Based and Smart Camera Based), Application, Vertical - Global Forecasts to 2023", The computer vision market is estimated to grow from USD 11.9 billion in 2018 to USD 17.4 billion by 2023; it is expected to grow at a CAGR of 7.8%. Changes related to high-quality standards have encouraged the companies to introduce factory automation; this has resulted in the increase in demand for computer vision systems in several industries. Other key factors contributing to the growth of the computer vision market include the rising demand for vision-guided robotic systems, growing adoption of 3D computer vision and application-specific computer vision systems.
Browse 65 Tables and 53 Figures spread through 179 Pages and in-depth TOC on "Computer Vision Market - Global Forecasts to 2023"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/computer-vision-market-186494767.html
Non-Industrial vertical to witness higher growth during forecast period
The computer vision market growth is attributed to the burgeoning demand for computer vision systems in the consumer electronics, semiautonomous and autonomous vehicles, sports and entertainment, and retail industries. Additionally, the growing labor costs in the physical security market and the high adoption of robotics in the healthcare industry, has led to the increase in demand for computer vision systems in non-industrial vertical.
Software to witness fastest growth during forecast period
The integration of AI into computer vision software is expected to fuel the growth of the computer vision market for software during the forecast period as deep learning enables machines to recognize objects. Also, deep learning-based computer vision software helps in minimizing human intervention and provide a real-time solution by distinguishing the acceptable variations in products and the defects in various industries.
APAC is expected to hold the largest market size of laser sensor market during forecast period
Countries in APAC such as China, Japan, India, and South Korea have some of the largest manufacturing facilities wherein automation of manufacturing processes has been taken as the highest priority. In addition, strong competition among consumer electronics companies in APAC is likely to boost the adoption of computer vision systems in the region.
Key players in the computer vision market include Cognex Corporation (US), Basler (Germany), Omron Corporation (Japan), KEYENCE CORPORATION (Japan), National Instruments (US), Sony Corporation (Japan), Teledyne Technologies, Inc. (US), Allied Vision Technologies (Germany), Texas Instruments, Inc. (US), Intel Corporation (US), Baumer Optronic (Germany), and JAI A/S (Denmark), MediaTek, Inc. (Taiwan), Cadence Design Systems, Inc. (US), CEVA, Inc. (US), and Synopsys, Inc. (US) among others.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
[email protected]
- Triangulate with your Own Data
- Get Data as per your Format and Definition
- Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
- Any level of Personalization
- What are the Known and Unknown Adjacencies Impacting the Computer Vision Market
- What will your New Revenue Sources be?
- Who will be your Top Customer; what will make them switch?
- Defend your Market Share or Win Competitors
- Get a Scorecard for Target Partners
