Computer Vision Market Overview: —
The increased penetration of mobile devices is projected to create an impetus for the development of the computer vision market. Reports that explore the information and communication technology industry have been presented by Market Research Future, which produces reports on industry verticals that appraise the market expansion and prospects. The market is anticipated to be spurred by a CAGR of 31.65 % approximately which will lead to revenues worth USD 48.32 billion by the end of 2023.
The escalating interest in visual and augmented reality is anticipated to motivate the market for Computer Vision Market. Also, the development of cognitive technologies such as deep learning and machine learning is anticipated to motivate the computer vision market in the upcoming period.
Major Key Players:
The central players in the computer vision are Microsoft Corporation, Intel Corporation, Cognex Corporation, IBM Corporation. Keyence Corporation, Nvidia Corporation, Sony Corporation, Autoliv Inc., National Instruments and Basler AG, to name a few.
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The segmentation of the computer vision market is segmented on the basis of application, component, end-user, and region.
• On the basis of component, the computer vision market is segmented into software and hardware. Based on the applications, the computer vision market is segmented into gesture recognition, face recognition, character recognition, and others.
• On the basis of end-users, the computer vision market is segmented into automotive, transportation, healthcare, agriculture, entertainment, and others.
• Based on the regions, the computer vision market is segmented into North America, Europe, APAC, the Middle East, and Africa.
Detailed Regional Analysis:
The regional assessment of the computer vision market covers regions such as North America, Europe, APAC, the Middle East, and Africa. The North American region leads the computer vision market, with the most substantial contribution of development in the U.S. The region accounts for over a third of the market and is anticipated to preserve its top position throughout the forecast period. The computer vision market in the North American region is motivated by the growing demand from the gaming industry and the robust presence of select few IT players internationally.
The Asia Pacific region is in position to be the fastest rising region in the computer vision market and is expected to observe an overwhelming 35.95 % CAGR during the forecast period. The enhanced development of the regional economy and the advent of start-ups has fortified a robust demand for computer vision products. Nations with increasing disposable earnings such as China, India, and Japan are responsible for a record significant share of the Asia Pacific market and development is being motivated by factors such as emerging AI talent to inspire the application of computer vision technology in the national market and the surging demand from entertainment & media verticals.
The market has accomplished a superior stride in the past couple of years, which is underscored by the events with regards to valuation. The profit generation streams in the market are optimized to yield maximum benefits in the coming years. The alternatives present for growth in the market are lucrative to long term growth of the market. The opportunity costs in the market are not elevated and are beneficial to progress in the market.
The benefits to the economy from the development of the market are high. The current economic climate is promoting stable development in the market by favorable availability of resources. The increase in sponsors in the market plays an essential role in the progress of the market. The reduction in the barriers to trade is anticipated to embody cutting-edge areas for expansion in the approaching years.
The market is well-armed to find the way throughout the unstable tides, unforeseen turmoil, and unexplored waters in the international economy. The augmentation of the resources important to endure competition has enhanced broadly directed to a top development rate of the market.
Table of Contents
1 Executive Summary
2 Market Introduction
2.2 Scope of the Study
2.3 List of Assumptions
2.4 Market Structure
3 Market Insights
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List of Table
Table 1 Global Computer Vision Market, By Component, 2017-2023 (Usd Million)
Table 2 Global Computer Vision Market, By Application, 2017-2023 (Usd Million)
Table 3 Global Computer Vision Market, By Vertical, 2017-2023 (Usd Million)
Table 4 Global Computer Vision Market, By Region, 2017-2023 (Usd Million)
Table 5 North America Computer Vision Market, By Country, 2017-2023 (Usd Million)
List of Figure
Figure 1 Top Down & Bottomup Approach
Figure 2 Forecast Model
Figure 3 Value Chain Analysis
Figure 4 Porter’s Five Forces Analysis Of Global Computer Vision Market
Figure 5 Global Computer Vision Market, By Component, 2017-2023 (Usd Million)
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