Computer Vision Market – Global Industry Analysis and Forecast (2022-2029)

Global Computer Vision Market is expected to grow at a CAGR of 7.84% during the forecast period. Global Computer Vision Market is expected to reach US$ 33.35 Bn. by 2029.

The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.



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Computer vision market is segmented on the basis of Component, Product, Application, Vertical, and Geography. Rising need for quality inspection and automation across industry verticals, growth in demand for vision-guided robotic systems in automotive, and growth in the non-industrial vertical are the major factors driving the growth of the overall computer vision market.

However, lack of user awareness about rapidly changing machine vision technology, changing requirements of end users with respect to computer vision applications, and complexity in integrating computer vision systems are the key restraining factors for the growth of computer vision market.
Further key findings from the report:
• Computer vision market for predictive maintenance applications is expected to grow at the highest CAGR between 2021 and 2029 With the developments in IoT and artificial intelligence technologies, the market for predictive maintenance applications is anticipated to grow during the forecast period
• Software segment from the components segment is anticipated to witness a high growth rate during the forecast period. This can be attributed to the introduction of deep learning and AI technologies and Innovations in computer vision software. Deep learning-based computer vision software allows to minimize human intervention and delivers a real-time solution for industrial and non-industrial applications
• From the industry vertical segment, food and packaging industry is to grow at the highest rate during the forecast period owing to a growing necessity to identify and combat counterfeit products and the increasing implementation of government rules pertaining to safety in manufacturing plants. Booming e-commerce industry in countries such as China and India is one of the key factors driving the growth of computer vision market in this segment
• Among geographical regions, APAC accounted for the largest share of the computer vision market and is expected to lead the computer vision market between 2021 and 2029 owing to increased investments in vision-related R&D activities and ongoing developments in computer vision systems. China is emerging as one of the key contributors in APAC region owing to growing industrial base in China and increasing manufacturing facilities
Computer Vision Market Key Highlights:
• Analysis of competitive developments such as contracts, joint ventures, mergers & acquisitions, collaborations, product launches & developments, and research and development (R&D) in the Computer Vision Market
• The objective of the report is to provide a detailed analysis of the Computer Vision Market on the basis of a component, product, application, vertical, and geography
• Complete quantitative analysis of the industry from 2019 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities
• In-depth analysis of the industry on the basis of market segments, market dynamics, market size, competition & companies involved value chain
• Analysis of the Computer Vision Market with respect to individual growth trends, prospects, and contribution to the total market
• Segment wise business performance detailed in a report will be worthwhile for the organizations willing to enhance its business
• Provides detailed information regarding the major factors influencing the growth of the Computer Vision Market (drivers, restraints, opportunities, and challenges)
• This report would help stakeholders understand their competitors better and gain more insights to enhance their position in the business
Computer Vision Market Research Methodology:
Bloomberg, Hoovers, Factiva are some of the sites that are being referred to gain insights about Computer Vision Market. Experts from top manufacturing companies along with other stakeholders have been considered. This is done to validate and collect critical information for evaluating trends related to this market during the forecast period. Top-down and bottom-up approaches have been used to estimate the global and regional size of this market. Data triangulation techniques along with other comparative analysis are also used to calculate the exact size of the Computer Vision Market globally.
Computer Vision Market Key Target Audience:
• Providers of machine vision-related components and solutions
• Semiconductor product designers and fabricators
• Developers of machine vision-related applications
• End-users/enterprise-users
• Research institutes and organizations
• Government bodies, venture capitalists, and private equity firms
• Market research and consulting firms
• Enterprise data center professionals

The objective of the report is to present comprehensive analysis of Computer Vision market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

The report also helps in understanding Computer Vision market dynamics, structure by analyzing the market segments, and project the Computer Vision market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Computer Vision market make the report investor’s guide.
Computer Vision Market Scope: Inquire before buying



Global Computer Vision Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US $ 18.23 Bn.


Forecast Period 2022 to 2029 CAGR:
7.84%
Market Size in 2029:
US $ 33.35 Bn.


 Segments Covered:
by Component
• Software
• Hardware


by Product
• Smart Cameras-Based Computer Vision Systems
• PC-Based Computer Vision Systems


by Application
• Measurement
• Quality Assurance & Inspection
• Predictive Maintenance
• Positioning & Guidance
• Identification


by Vertical
• Industrial Vertical
• Non-Industrial Vertical



Computer Vision Market, by Region:
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Computer Vision Market Key Players:
• Cognex
• Omron
• Keyence
• Basler
• Sony
• National Instruments
• Texas Instruments
• Teledyne Technologies
• Intel
• Jai A/S

Frequently Asked Questions:

1. Which region has the largest share in Global Computer Vision Market?
Ans: Asia Pacific region held the highest share in 2021.

2. What is the growth rate of Global Computer Vision Market?
Ans: The Global Computer Vision Market is growing at a CAGR of 7.84% during forecasting period 2022-2029.

3. What is scope of the Global Computer Vision market report?
Ans: Global Computer Vision Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Computer Vision market?
Ans: The important key players in the Global Computer Vision Market are – Flir Systems, United Technologies, Forgive Corporation, Leonardo, Axis Communications, L3 Technologies, Bae Systems, Xenics, Testo SE, Sofradir, Thermoteknix Systems, Seek Thermal, Allied Vision, Dali Technology, Opgal Optronic Industries Limited, 3M, ATN Company, Avon Protection Systems, Inc., Axis Communications Ab, BAE Systems, Dragerwerk AG & Co. KGaA, and Fluke Corporation

5. What is the study period of this market?
Ans: The Global Computer Vision Market is studied from 2021 to 2029.
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