Global Computer Vision Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

Recent Developments

• In August 2023, Nvidia introduced its Jetson Xavier NX Developer Kit, a robust AI platform designed for embedded and edge devices. This new developer kit aims to boost the development of computer vision applications across a range of industries such as automotive, manufacturing, and retail.

• In July 2023, Intel revealed its acquisition of Habana Labs, an AI chipmaker based in Israel. This strategic move is anticipated to bolster Intel's standing in the AI market and enhance its capability to create innovative computer vision solutions.

• In June 2023, Qualcomm unveiled its Snapdragon 8 Gen 2 mobile platform, featuring a revamped AI engine tailored for computer vision applications. This advanced mobile platform is set to propel the use of computer vision technology in smartphones and other mobile devices.

This report extensively covers different segments of Global Computer Vision Market and provides an in depth analysis (including revenue analysis for both historic and forecast periods) for all the market segments. In this report, the analysis for every market segment is substantiated with relevant data points and, insights that are generated from analysis of these data points (data trends and patterns).

The market encompasses a diverse range of technologies and applications that enable computers to interpret and understand visual information from images and videos. The market is segmented by components, applications, end users, and geography, reflecting the breadth and depth of this rapidly expanding field.

In terms of components, the market is divided into hardware and software. Hardware includes cameras, sensors, and other imaging devices that capture visual data. Software consists of algorithms and data processing tools that enable machines to analyze and interpret the visual information, such as deep learning models for object detection and recognition. The application segment covers face recognition, gesture recognition, and character recognition. The market is also segmented by end user, which includes industries such as automotive, healthcare, retail, manufacturing, and others.

Geographically, the market spans major regions including North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. Each region presents unique opportunities and challenges based on its level of technological development, regulatory environment, and industry demand.

Global Computer Vision Segment Analysis

In this report, the Global Computer Vision Market has been segmented by Components, Application, End User, and Geography.

Global Computer Vision Market, Segmentation by Components

The Global Computer Vision Market has been segmented by Components into Hardware and Software.

The hardware segment includes the physical devices and components that capture visual information for computer vision systems. Key hardware components include cameras, which may range from standard to high-definition or specialized cameras such as infrared or 3D cameras. Sensors are also an essential part of hardware, as they enable the collection of data in various lighting conditions and environments. Other hardware elements include processors such as graphic processing units (GPUs) or field-programmable gate arrays (FPGAs), which facilitate high-speed data processing necessary for real-time computer vision applications.

The software segment encompasses the algorithms and data processing tools that enable machines to analyze and interpret visual data. Software includes image processing and analysis algorithms, which perform tasks such as filtering, feature extraction, and pattern recognition. Deep learning models, such as convolutional neural networks (CNNs), play a critical role in tasks like object detection, facial recognition, and image classification. Additionally, software tools manage the data flow between hardware components and provide user interfaces for managing and monitoring computer vision systems.

Global Computer Vision Market, Segmentation by Application

The Global Computer Vision Market has been segmented by Application into Face Recognition, Gesture recognition, and Character recognition.

Face recognition involves the use of computer vision to identify and authenticate individuals based on their facial features. This technology is widely used in security and surveillance systems, such as access control and public safety monitoring. It is also increasingly applied in consumer electronics for user authentication and personalized experiences.

Gesture recognition enables human-computer interaction by interpreting body movements and gestures. This technology is commonly used in gaming, virtual reality (VR), and augmented reality (AR) applications to create immersive and intuitive user experiences. Additionally, gesture recognition is applied in robotics for more natural and responsive interactions between humans and machines.

Character recognition, including optical character recognition (OCR), automates the process of converting written or printed text into digital formats. This application is used in a variety of industries for document processing, such as digitizing printed materials, extracting information from invoices, and enabling text-based searches in digital archives.

Global Computer Vision Market, Segmentation by End-User

The Global Computer Vision Market has been segmented by End-User into Agriculture, Healthcare, Consumer electronics, Entertainment, and Transportation.

In agriculture, computer vision is used for precision farming, helping farmers monitor crop health, detect pests and diseases, and optimize irrigation and fertilization. By using drones and cameras equipped with computer vision, farmers can assess large areas of farmland quickly and accurately, leading to better yields and resource management.

In healthcare, computer vision plays a crucial role in medical imaging analysis, aiding in the diagnosis of diseases such as cancer. It also supports the development of personalized treatment plans and assists in monitoring patient health through various medical devices. Computer vision is increasingly used for surgical planning and guidance, enhancing the accuracy and safety of procedures.

Consumer electronics benefit from computer vision through features such as facial recognition for device unlocking and authentication. Additionally, computer vision enables gesture control in smart devices, creating more intuitive and user-friendly experiences. The technology also enhances augmented reality (AR) applications in smartphones and other devices, offering immersive and interactive user experiences.

In the entertainment industry, computer vision powers visual effects in films and video games, enabling more realistic graphics and environments. The technology also supports virtual reality (VR) and augmented reality (AR) experiences, allowing for more immersive and engaging entertainment content.

In transportation, computer vision is essential for advanced driver-assistance systems (ADAS) and autonomous vehicles. The technology is used for tasks such as lane detection, pedestrian detection, and traffic sign recognition, enhancing safety and efficiency on the road. Additionally, computer vision supports logistics and fleet management by enabling real-time monitoring of vehicles and cargo.

Global Computer Vision Market, Segmentation by Geography

In this report, the Global Computer Vision Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Global Computer Vision Market Share (%), by Geographical Region, 2023

North America is one of the leading regions in the global computer vision market, driven by the presence of major technology companies, extensive research and development activities, and early adoption of advanced technologies. The region's strong focus on innovation and its established industries in healthcare, automotive, and consumer electronics contribute to the growth of computer vision applications.

Europe is another major market for computer vision, with a strong emphasis on research and development, particularly in areas such as automation and AI. The region is home to several prominent automotive and industrial companies that utilize computer vision technology for quality control, safety, and efficiency improvements. Additionally, stringent data protection regulations in Europe influence the adoption of computer vision technology in a privacy-conscious manner.

Asia Pacific is a rapidly growing region in the computer vision market, fueled by the increasing demand for automation and efficiency in various industries such as manufacturing, healthcare, and retail. The region's large population, expanding middle class, and rising investments in technology infrastructure contribute to the market's growth. Countries such as China, Japan, and South Korea are key players in this region, with significant advancements in AI and computer vision.

The Middle East and Africa region is experiencing growing interest in computer vision technology, particularly in sectors such as security and surveillance, healthcare, and retail. The region's ongoing infrastructure development and investments in smart city projects drive the adoption of computer vision applications.

Latin America is another emerging region in the computer vision market, with increasing demand for technology-driven solutions in industries such as agriculture, healthcare, and transportation. The region's growing focus on improving operational efficiency and productivity supports the adoption of computer vision across various sectors.

This report provides an in depth analysis of various factors that impact the dynamics of Global Computer Vision Market. These factors include; Market Drivers, Restraints, and Opportunities.

Drivers:

• Increasing Demand for Automation
• Rising Adoption in Healthcare
• Proliferation of Cameras and Sensors
• Growing Use of Computer Vision in Automotive

• Increasing Need for Security and Surveillance - The increasing need for security and surveillance is a significant driver for the global computer vision market. As security concerns grow across various sectors, including public safety, transportation, and critical infrastructure, there is a rising demand for advanced surveillance systems that leverage computer vision technology. These systems can automatically detect and track objects, individuals, and activities of interest in real time, providing enhanced situational awareness and rapid response capabilities.

  In urban areas, computer vision is employed in smart city projects to monitor public spaces, traffic flow, and crowd dynamics. It enables law enforcement and security agencies to identify and respond to incidents promptly, contributing to safer communities. In private sector applications, businesses use computer vision for access control, monitoring sensitive areas, and detecting unauthorized activities.

  Computer vision technology supports facial recognition and biometric identification, which are increasingly used in airports, border control, and secure facilities for identity verification and access management. These capabilities enhance security while streamlining the movement of people through secure areas. As the need for security and surveillance continues to grow, the adoption of computer vision technology is expected to rise correspondingly. Its ability to process and analyze large volumes of visual data efficiently and accurately makes it an essential tool for modern security and surveillance systems.

Restraints:

• Limited Standardization
• Quality and Bias in Data
• Cybersecurity Risks
• Integration Challenges

• Public Perception - Public perception serves as a significant restraint in the global computer vision market, particularly due to concerns about privacy and surveillance. As computer vision technology becomes more pervasive in public and private spaces, there is increasing scrutiny from the general public regarding its impact on personal privacy and civil liberties.

  Many people express apprehension about the widespread use of facial recognition technology in public spaces, fearing potential misuse by governments or private entities. The possibility of constant surveillance and monitoring can lead to discomfort and resistance, as individuals may feel that their personal freedoms and privacy are being compromised.

  Negative public perception can also arise from concerns about the security and handling of visual data collected through computer vision systems. Individuals worry about data breaches, identity theft, and the misuse of their biometric information. These fears can lead to calls for stronger regulations and oversight, potentially limiting the scope and speed of adoption of computer vision technology.

Opportunities:

• Development of Smart Cities
• Innovation in AR and VR
• Healthcare Applications
• Autonomous Vehicles

• Retail and E-commerce Growth - Retail and e-commerce growth presents a significant opportunity for the global computer vision market, driven by the increasing demand for automation and enhanced customer experiences. As the retail and e-commerce sectors continue to expand, there is a growing need for innovative technologies that can streamline operations and improve the shopping journey for consumers.

  In retail, computer vision can be used for inventory management and stock monitoring. By using cameras and image recognition algorithms, retailers can track product availability in real-time and optimize their supply chains. This technology helps minimize stockouts and overstocking, improving efficiency and reducing costs. Computer vision also enables automated checkout systems, allowing customers to make purchases without the need for human cashiers. This creates a frictionless shopping experience and can help reduce wait times, leading to increased customer satisfaction and loyalty.

  In the e-commerce space, computer vision plays a role in product recommendation engines, personalizing shopping experiences based on visual data. By analyzing customer browsing behavior and preferences, e-commerce platforms can suggest products that are more likely to appeal to individual shoppers, driving sales and engagement. Another application in e-commerce is virtual try-on technology, where computer vision allows customers to visualize how products such as clothing, eyewear, or cosmetics would look on them before making a purchase. This can enhance the online shopping experience and reduce return rates.

Key players in Global Computer Vision Market include,

• 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.)
• Synopsys, Inc. (U.S.)

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis