According to the latest report by IMARC Group “Computer Vision Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026″, The global computer vision market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 7% during 2021-2026.

Computer vision is a branch of artificial intelligence (AI) that allows computers and systems to extract useful information from digital images, videos, and other visual inputs, as well as to take actions or make suggestions based on that data. Computer vision finds extensive application across various industries, including security and surveillance, automotive, medical, and entertainment.

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Market Trends:

The increasing number of image and video processing applications across various industries represents one of the key factors driving global market growth. For instance, in the automotive industry, there has been widespread adoption of computer vision systems for assembling vehicles. Also, computer vision finds applications in the mobile industry to develop more secured devices. This, in turn, is acting as a major growth-inducing factor. Additionally, healthcare institutions are investing significantly in artificial intelligence (AI) in computer vision due to the outbreak of coronavirus disease (COVID-19)to enable the effective detection and study of the virus. Other factors, such as technological advancements in safety systems and the increasing trend of 3D imaging in industries, are bolstering the market growth further.

Breakup by Component:

• Hardware

• Software

Breakup by Product Type:

• Smart Camera-based

• PC-based

Breakup by Application:

• Quality Assurance and Inspection

• Positioning and Guidance

• Measurement

• Identification

• Predictive Maintenance

• 3D Visualization and Interactive 3D Modelling

Breakup by Vertical:

• Industrial

• Non-Industrial

Breakup by Region:

• North America (United States, Canada)

• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)

• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)

• Latin America (Brazil, Mexico, Others)

• Middle East and Africa

Competitive Landscape with Key Player:

• Basler AG

• Baumer Optronic

• CEVA Inc.

• Cognex Corporation

• Intel Corporation

• Jai A/S

• Keyence Corporation

• Matterport Inc.

• Microsoft Corporation

• National Instruments

• Sony Corporation

• Teledyne Technologies Inc.

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

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