Computer Vision Market Expected to Grow with a healthy CAGR

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The growth in computer vision market is accredited to advancements in the smart camera technology and the IoT, and growing penetration of the smart camera-based systems. The smart camera-based computer vision systems are profitable, compact and cost effective, flexible; thus, becomes easier to implement the changes in these systems created on the basis of revised regulations and the standards. Major factors propelling the market growth are increasing need for the automation and quality inspection growing demand for the vision-guided robotic systems, growing demand for the application- definite computer vision systems.

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Although many of the markets are affected negatively, few markets such as online conference, food delivery apps and others have experienced significant increase in the order intake in the last few months. The markets are expected to show positive growth from mid-2021. The market report will include the detailed analysis of the COVID on the computer vision market and various other factors such as economic impact, demand and supply etc.

Computer Vision Market Segment Overview

The automotive industry is among the early adopters of the computer vision systems and the continues to hold largest share of computer vision market among various other industries in industrial vertical. Automation is extensively used for accumulating vehicles in the industry; hence, adoption of systems is high contributing to growth of computer vision market for automotive industry.

Global computer vision market is segmented by Component, Application and geography. Based on Component, global computer vision market is segmented into Hardware and Software. Growing commercialization and industrialization have created demand for the professional and skilled labour in turn propelling the demand for the market. Globally, adoption of computer vision is presenting tremendous growth in the upcoming years. Similarly based on application the market is being segmented into Face Recognition, Gesture Recognition, Character Recognition, application 4 and others. Increasing demand and increasing end use application are expected to propel the market growth for global computer vision market in the coming years.

 
 
Computer Vision Market Competitor overview

Cognex Corporation holds strong position in global computer vision market owed to strong employee base and the global presence, with offices and the distributors located throughout Europe, the Americas, and Asia. The company has its production units in U.S. and Europe. It emphases on expanding position as computer vision provider in the different markets by acquiring the business and technologies; for example, Cognex has acquired company named AQSense, and Chiaro, and EnShape to enhance portfolio products. Company has also acquired the company named ViDi Systems SA to expand its portfolio of computer vision software in Australia.

The computer vision Market is consolidated in nature with few major players commanding the major market share of the computer vision Market. Continuous advancements, innovative Components and mergers and such strategies were being used by these players to gain the market share. The report will provide exhaustive information about the top players and their revenue and strategies in the market. The report will also include recent development and other strategical move used by the players to enhance their market share in particular economy or Component segments.

Key Players

  1. Cognex Corporation
  2. Basler
  3. Omron Corporation
  4. KEYENCE CORPORATION
  5. National Instruments
  6. Sony Corporation
  7. Teledyne Technologies, Inc.
  8. Allied Vision Technologies
  9. Texas Instruments, Inc.
  10. Intel Corporation
  11. Baumer Optronic
  12. JAI A/S
  13. MediaTek, Inc.
  14. Cadence Design Systems, Inc.
  15. CEVA, Inc.
  16. Synopsys, Inc.

Computer Vision Market Segmentation

By Component

  • Hardware
  • Software

By Application

  • Face Recognition
  • Gesture Recognition
  • Character Recognition

By End User

  • Automotive
  • Agriculture
  • Healthcare
  • Entertainment
  • Others

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