Computer vision, a subset of artificial intelligence, employs deep learning models to interpret real-world objects through digital images and videos. This process involves acquiring, processing, and analyzing data to identify, detect, and classify objects. Implemented across sectors, it facilitates applications such as object detection, facial recognition, and pattern detection. By training computers to comprehend visual elements, computer vision revolutionizes responses and outputs, enhancing its utility in diverse fields.
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Data Bridge Market Research analyses that the Global Computer Vision Market was valued at USD 12.98 billion in 2022 and is expected to reach USD 29.19 billion by 2030, registering a CAGR of 8.32% during the forecast period of 2023 to 2030. The synergy between computer vision and IoT devices fuels market growth. As IoT sensors generate vast data, computer vision integration becomes pivotal, extracting meaningful insights. This dynamic partnership enhances data analysis capabilities, fostering innovation and efficiency across industries reliant on the Internet of Things.
Key Findings of the Study
Accuracy and reliability offered by computer vision systems for image detection and classification across the world will drive the market's growth rate
Computer vision's early detection capabilities, identifying cancerous cells, fractures, and heart vessel blockages, offer significant benefits to patients. Accurate human face recognition extends its utility to workplaces, payment portals, and airport security. Additionally, in law enforcement, it streamlines subject verification for the police. The technology's reliability, accuracy, and precision in object detection propel its deployment across diverse sectors, contributing to the rapid growth of the computer vision market.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Components (Hardware, Software, Service), Product (Smart Camera-based Computer Vision Systems, PC-based Computer Vision Systems), Offering (Deep Learning, Traditional Computer Vision), Application (Quality Assurance and Inspection, Positioning and Guidance, Identification, Predictive Maintenance), Vertical (Industrial, Non Industrial)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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Cognex Corporation (U.S.), Basler AG (Germany), Omron Corporation (Japan), KEYENCE CORPORATION (Japan), National Instruments Corp (U.S.), Sony Corporation (Japan), Teledyne (U.S.), Allied Vision Technologies GmbH (Germany), Texas Instruments Incorporated (U.S.), Intel Corporation (U.S.), Baumer (Germany), JAI (Denmark), MediaTek, Inc. (Taiwan), Cadence Design Systems, Inc. (U.S.), CEVA, Inc. (U.S.), and Synopsys, Inc. (U.S.)
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Data Points Covered in the Report
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In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Segment Analysis:
The global computer vision market is segmented on the basis of components, product, offering, application and vertical.
- On the basis of components, the global computer vision market is segmented into hardware, software, and service. The hardware segment is expected to hold a major share in the market with 57.9% market share owing to factors such as growing adaptation for AI using computer vision systems and growing demand for augmented reality across various industries which is boosting the deployment of advanced electronics such as camera, sensor, optics and LED lighting
- On the basis of product, the global computer vision market has been segmented into smart camera-based computer vision systems and PC-based computer vision systems. Smart camera-based computer vision systems segment is expected to hold the largest share in the market with 52.49% market share owing to factors such as growing demand for smart systems
The smart camera-based computer vision systems segment will dominate the product segment of the global computer vision market
Smart camera-based computer vision systems segment is expected to hold the largest share in the market with 52.49% market share owing to factors such as growing demand for smart systems that are aided by AI and deep learning-based computer vision systems which proves to be highly accurate and precise in decision making
- On the basis of offering, the global computer vision market has been segmented into deep learning, traditional computer vision
- On the basis of application, the global computer vision market has been segmented into predictive maintenance, identification, positioning and guidance, and quality assurance and inspection. The quality assurance and inspection segment is expected to hold the maximum share in the market with 37.87% market share due to factors such as growing demand for object detection, classification, error detection, and defect detection among others in various industries such as automotive, manufacturing, healthcare among others
- On the basis of vertical, the global computer vision market has been segmented into industrial vertical and non-industrial vertical. The industrial vertical segment is expected to hold the major share in the market with 51.68% market share due to growing demand for integration of deep learning with computer vision to automate the manufacturing process
The industrial vertical segment will dominate the vertical segment of the global computer vision market
The industrial vertical segment is expected to hold the major share in the market with 51.68% market share due to growing demand for integration of deep learning with computer vision to automate the manufacturing process which can be used for object detection, smoothening the manufacturing process, error detection, defect detection among others in various industries such as automotive, manufacturing, consumer electronics among others.
Major Players
Data Bridge Market Research recognizes the following companies as the major global computer vision market players in global computer vision market are Texas Instruments Incorporated (U.S.), Intel Corporation (U.S.), Baumer (Germany), JAI (Denmark), MediaTek, Inc. (Taiwan), Cadence Design Systems, Inc. (U.S.), CEVA, Inc. (U.S.), and Synopsys, Inc. (U.S.)
Market Developments
- In March 2021, JAI A/S launched new products named GO-5000M-PGE-UV and GO-5000M-PMCL-UV which are medium speed cameras. These products can deliver 5-megapixel resolution images and have frames per second of 22 to 107 fps. They can be used for UV laser calibration, and surface inspection of metals and plastics among others. These products can be deployed in various industries for high-quality resolutions
- In March 2020, KEYENCE CORPORATION launched a new product in vision system with Pattern Projection Lighting CV-X Series which is capable of a 2D inspection vision system, height extraction, and 3D inspection among others. Vision controller powers it. It was a unique product that can inspect and analyze the flaws and be widely used in automobile companies. It is a great asset for the company because of its reliability in detecting flaws
- In April 2020, Cadence Design Systems, Inc. launched a new product- Vision Q8 and Vision P1 DSPs. This was done to support the growing demand in the automotive, mobile, and consumer sectors. As these models were optimized for high-end mobile and multi-camera automotive applications, the products improved their performance by 4 times. The company did this to expand its product portfolio and offer reliable products to the consumers
Regional Analysis
Geographically, the countries covered in the global computer vision market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of the Middle East and Africa
As per Data Bridge Market Research analysis:
North America is the dominant region in the global computer vision market during the forecast period 2023-2030
North America dominates the global computer vision market, fueled by substantial investments in open production plants. The region experiences heightened demand from full-service restaurants and café/bars, contributing to its market supremacy. As these industries increasingly adopt computer vision technologies for efficiency and innovation, North America stands as a key driver in shaping the trajectory of the global computer vision market.
Asia-Pacific is estimated to be the fastest-growing region in the global computer vision market for the forecast period 2023-2030
Asia-Pacific is expected to dominate the Global Computer Vision Market during the forecast period of 2023 to 2030. With burgeoning technological advancements and increased adoption of computer vision in diverse industries across countries such as China and India, the region anticipates substantial market growth. Rising investments in research and development, coupled with a growing demand for automation, positions Asia-Pacific as a key player in shaping the trajectory of the global computer vision market in the coming years.
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