Computer Vision Market Report by Component (Hardware, Software), Product Type (Smart Camera-based, PC-based), Application (Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification, Predictive Maintenance, 3D Visualization and Interactive 3D Modelling), Vertical (Industrial, Non-Industrial), and Region  2024-2032

Computer Vision Market Report by Component (Hardware, Software), Product Type (Smart Camera-based, PC-based), Application (Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification, Predictive Maintenance, 3D Visualization and Interactive 3D Modelling), Vertical (Industrial, Non-Industrial), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A3707
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Market Overview:

The global computer vision market size is expected to exhibit a CAGR of 6.39% during 2024-2032. The increasing number of schools, colleges, and other institutions, rising need for RPM services, and the growing sales of consumer electronics like smartphones, laptops, desktops, tablets and scanners are some of the major factors propelling the market.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Growth Rate 2024-2032 6.39%


Computer vision (CV) refers to a field of artificial intelligence (AI) that focuses on allowing computers to interpret and understand visual data from the world. It encompasses the development of algorithms and techniques that enable computers to analyze and process images or videos like humans. It aims to extract meaningful insights, patterns, and information from visual data, which enables applications, such as object recognition, image classification, facial recognition, and autonomous navigation for vehicles.

Global Computer Vision Market Report

CV finds application in the education industry to offer security to institutions by scanning and examining video footage and detecting any suspicious activities like loitering, intrusion, and abnormal events. This, coupled with the increasing number of schools, academies, colleges, and other institutions and rising number of applicants, is strengthening the growth of the market around the world. Moreover, CV is used in the healthcare sector to enhance medical treatments, procedures, and overall patient experience. This, along with the rising need for remote patient monitoring (RPM) services due to the surging prevalence of chronic conditions and viral infections like cystic fibrosis, osteoporosis, cancer, and cardiovascular diseases (CVD) among the masses, is supporting the growth of the market. In addition, the growing sales of consumer electronics, such as smartphones, laptops, tablets, scanners, desktops, and other smart wearables, on account of rapid urbanization and digitization and inflating income levels, is influencing the market positively. Apart from this, the increasing usage of CV in augmented reality (AR) and virtual reality (VR) technologies to identify the eye and body movement of the user and thus adapt to the VR environment is impelling the market growth.

Computer Vision Market Trends/Drivers:

Increase in industrial automation

Industries like manufacturing and logistics are increasingly adopting CV to optimize processes. Automation powered by CV enables real-time quality control, defect detection, and inventory management. This not only enhances production efficiency but also reduces human errors, leading to cost savings and improved product quality.

Rise in autonomous systems

Autonomous systems, such as self-driving cars and drones, heavily rely on CV. These systems use visual data to perceive their environment, make decisions, and navigate safely. As the need to develop autonomous technologies is intensifying, the demand for sophisticated CV solutions is rising to ensure safety and reliability.

Growing optimization of e-commerce and retail sectors

CV has revolutionized the e-commerce and retail sectors. Visual search capabilities allow consumers to find products based on images, while retailers can automate inventory management and personalize recommendations. This streamlines the shopping experience and also increases sales and customer satisfaction.

Computer Vision Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global computer vision market report, along with forecasts at the global, regional and country levels from 2024-2032. Our report has categorized the market based on component, product type, application and vertical.

Breakup by Component:

  • Hardware
  • Software
     

Hardware dominates the market

The report has provided a detailed breakup and analysis of the market based on the component. This includes hardware and software. According to the report, hardware represented the largest segment. CV, as a field, heavily relies on various hardware components to capture, process, and interpret visual data. Cameras and sensors are primary hardware elements used to acquire images and videos. These can range from traditional webcams to more advanced devices like 3D scanners and LIDAR systems. Powerful processors and GPUs are essential for handling the complex computations required for image processing, feature extraction, and machine learning tasks.

The software component of CV encompasses a wide range of algorithms, frameworks, and tools that enable the processing and interpretation of visual data. Image processing algorithms are fundamental, performing tasks like noise reduction, edge detection, and image enhancement. Feature extraction techniques help identify key patterns and structures in images, which facilitates object recognition and tracking. Machine learning (ML) and deep learning frameworks in training and deploying sophisticated models for tasks, such as object detection, facial recognition, and scene understanding. These software tools leverage neural networks and other machine learning techniques to learn from large datasets and make intelligent decisions based on visual inputs.

Breakup by Product Type:

  • Smart Camera-based
  • PC-based
     

PC-based hold the largest share in the market

A detailed breakup and analysis of the market based on the product type has also been provided in the report. This includes smart camera-based and PC-based. According to the report, PC-based accounted for the largest market share. PC-based CV systems involve the use of traditional personal computers or workstations for processing and interpreting visual data. These systems leverage the computational power of the hardware components, including CPUs and GPUs, to perform complex image processing and analysis tasks. PC-based solutions offer more flexibility and customization compared to smart cameras. They can handle a broader range of tasks and applications by utilizing various software libraries and frameworks. Researchers, developers, and engineers often use PC-based setups to experiment with different CV algorithms, build and test prototypes, and fine-tune models.

Smart camera-based CV systems are integrated devices that combine both hardware and software components within a single unit. These cameras are equipped with onboard processing capabilities, enabling them to analyze and interpret visual data in real time without the need for external computing resources. They often come with built-in algorithms for tasks like object detection, motion tracking, and image recognition. These devices are designed for specific applications such as surveillance, industrial automation, and retail analytics. Smart cameras are ideal for scenarios where immediate decision-making based on visual data is crucial, as they can operate independently and provide fast responses.

Breakup by Application:

  • Quality Assurance and Inspection
  • Positioning and Guidance
  • Measurement
  • Identification
  • Predictive Maintenance
  • 3D Visualization and Interactive 3D Modelling
     

Quality assurance and inspection dominate the market

The report has provided a detailed breakup and analysis of the market based on the application. This includes quality assurance and inspection, positioning and guidance, measurement, identification, predictive maintenance, and 3D visualization and interactive 3D modelling. According to the report, quality assurance and inspection represented the largest segment. CV plays a critical role in quality assurance and inspection across various industries. It involves using cameras and image processing algorithms to examine products and materials for defects, inconsistencies, or deviations from standards. This can be seen in industries, such as manufacturing, wherein CV systems inspect products on assembly lines, identifying defects like scratches, cracks, or misalignments.

CV enables the identification and classification of objects, patterns, and even individuals. In security and surveillance, facial recognition technology uses CV algorithms to identify individuals based on facial features. Object recognition applications allow computers to recognize and categorize objects within images or videos. This has applications in retail, inventory management, and security, where computers can identify items on store shelves or monitor areas for suspicious activity.

Breakup by Vertical:

  • Industrial
  • Non-Industrial
     

A detailed breakup and analysis of the market based on the vertical has also been provided in the report. This includes industrial and non-industrial.

The industrial vertical of CV refers to the application of CV technologies and techniques in manufacturing, production, and industrial processes. In this context, CV plays a crucial role in enhancing efficiency, quality control, and automation within industrial settings. Various industries, such as automotive, electronics, pharmaceuticals, and food processing, utilize CV to streamline production lines, ensure product quality, and optimize processes.

The non-industrial vertical of CV encompasses applications outside of traditional manufacturing and industrial contexts. This vertical involves the use of CV in areas such as healthcare, retail, entertainment, agriculture, security, transportation, and more. In healthcare, CV aids in medical imaging analysis, disease detection, and surgery assistance. In retail, it supports customer analytics, inventory management, and cashier-less checkout systems. In entertainment, CV contributes to augmented reality (AR) and virtual reality (VR) experiences. It also enhances security through facial recognition and video surveillance in various public spaces.

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
     

Asia Pacific exhibits a clear dominance, accounting for the largest computer vision market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share. The increasing need for quality inspection represents one of the primary factors driving the demand for CV in the Asia Pacific region. Moreover, the rising need for image and video processing applications in various industry verticals is bolstering the market growth in the region. Besides this, the growing sales of autonomous vehicles (AV) are influencing the market positively in the region.

North America is estimated to witness stable growth, owing to the rising trend of automation, growing need for identifying cancer patients, integration of advanced technologies, etc.

Competitive Landscape:

The leading companies are incorporating deep learning that can automatically learn and extract complex features from images, which enables tasks like object detection, image segmentation, and even generating realistic images and improved the accuracy and efficiency of many CV applications. They are also integrating augmented reality (AR), virtual reality (VR), and edge computing in CV that reduces latency and bandwidth requirements, which makes real time decision making possible without relying heavily on cloud resources. Edge devices, such as cameras and sensors, can process and analyze visual data locally, which enables faster response times. These advancements create immersive and interactive environments for gaming, training, education, and more by tracking and interpreting the surroundings of the user.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

  • 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.

Recent Developments:

  • In 2023, Intel Corporation accelerated the artificial intelligence (AI) development with reference kits, which include model code, training data, instructions for the machine learning pipeline, libraries, and oneAPI components to optimize AI that help developers and data scientists innovate faster.
  • In August 2021, Teledyne Technologies Inc launched Sapera Vision Software edition, which include modification of its graphical Al training tool Astrocyte and image processing, along with the Al libraries tool Sapera Processing.
  • In 2023, Basler AG recently released pylon 7.3 for Mac with Apple silicon, which enables the use of their 1GigE, 5GigE, and USB3 Vision cameras on the latest macOS versions, such as Big Sur (11.7), Monterey (12.6), and Ventura (13.4).

Computer Vision Market Report Scope:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Scope of the Report Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
  • Component
  • Product Type
  • Application
  • Vertical
  • Region
Components Covered Hardware, Software
Product Types Covered Smart Camera-based, PC-based
Applications Covered Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification, Predictive Maintenance, 3D Visualization and Interactive 3D Modelling
Verticals Covered Industrial, Non-Industrial
Regions Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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. etc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Benefits for Stakeholders:

  • IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the computer vision market from 2018-2032.
  • The research study provides the latest information on the market drivers, challenges, and opportunities in the global computer vision market.
  • The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
  • Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the computer vision industry and its attractiveness.
  • Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Key Questions Answered in This Report

According to the estimates by IMARC Group, the global computer vision market is expected to witness a CAGR of 6.39% during 2024-2032.

Sudden outbreak of the COVID-19 pandemic has led to the increase in demand for automated technologies, such as computer vision, across the healthcare facilities for enhanced patient health management.

The increasing need for quality inspection that has augmented the demand for vision-guided and smart camera-based robotic systems represents one of the key drivers for the global computer vision market.

Several technological advancements in safety systems, along with the growing penetration of Industry 4.0 trends, represent some of the key trends in the global computer vision market.

On the basis of the component, the market has been segregated into hardware and software. Currently, hardware exhibits a clear dominance in the global market.

On the basis of the product type, the market has been bifurcated into smart camera-based and PC-based. Currently, PC-based holds the majority of the total market share.

On the basis of the application, the market has been divided into quality assurance and inspection, positioning and guidance, measurement, identification, predictive maintenance, and 3D visualization and interactive 3D modelling. Among these, quality assurance and inspection represent the largest segment.

On the basis of the vertical, the market has been segmented into industrial and non-industrial. At present, industrial exhibits a clear dominance in the market.

Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.

The key companies in the global computer vision market are Basler AG, Baumer Optronic, CEVA Inc., Cognex Corporation, Intel Corporation, Jai A/S, Keyence Corporation, Matterport Inc., Microsoft Corporation, National Instruments, Sony Corporation and Teledyne Technologies Inc.

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Computer Vision Market Report by Component (Hardware, Software), Product Type (Smart Camera-based, PC-based), Application (Quality Assurance and Inspection, Positioning and Guidance, Measurement, Identification, Predictive Maintenance, 3D Visualization and Interactive 3D Modelling), Vertical (Industrial, Non-Industrial), and Region  2024-2032
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