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According to the estimates by IMARC Group, the global computer vision market is expected to witness a CAGR of 7% during 2021-2026.
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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