Computer Vision Market by Component, Application, End-Use

List of Tables

[198 Pages Report] The Computer Vision Market size was estimated at USD 16.59 billion in 2023 and expected to reach USD 18.25 billion in 2024, at a CAGR 10.11% to reach USD 32.59 billion by 2030.

Computer vision focuses on developing software algorithms, technologies, and applications that enable machines to interpret visual information from the physical world. Integrating artificial intelligence, machine learning, image processing techniques, and hardware devices support various functions such as object detection, facial recognition, scene understanding, video analysis, and augmented reality across various end-user industries. There is a growing demand for application-specific computer vision systems catering to diverse markets such as retail analytics, healthcare diagnostics, and agriculture automation. In addition, the increasing manufacturing of automated and connected cars relies heavily on advanced computer vision technologies for autonomous navigation, object recognition, and safety features. High implementation costs associated with sophisticated hardware and software systems may limit small or medium-sized enterprises from investing in these cutting-edge technologies. Additionally, the reliance on cloud computing platforms for storing sensitive data and real-time processing raises questions related to data privacy and unauthorized access, further negatively affecting the need for computer vision solutions. However, the adoption of 3D computer vision systems is improving due to advancements in machine learning algorithms and AI capabilities that enable advanced depth perception and object recognition capabilities. Moreover, government initiatives worldwide are supporting industrial automation by providing funding for research projects or offering tax incentives for investments in advanced technology infrastructure.

KEY MARKET STATISTICS
Base Year [2023]	USD 16.59 billion
Estimated Year [2024]	USD 18.25 billion
Forecast Year [2030]	USD 32.59 billion
CAGR (%)	10.11%

Regional Insights

Computer vision technology has been rapidly adopted across various American industries, including automotive, healthcare, and retail. The government framework in the developed economies of the United States and Canada has actively encouraged research and development, fostering innovation and collaboration among businesses. European Union (EU)'s stringent regulations on data privacy have led companies to focus on developing innovative solutions that comply with the rules and fulfill the need for computer vision solutions. The Middle East is experiencing steady growth in adopting AI technologies, including computer vision, across multiple sectors, such as smart cities and the oil & gas industry. APAC countries represent a highly evolving computer vision market due to major investments, innovations, and collaboration in computer vision technologies. The Asian economies have invested heavily in robotics and manufacturing automation, strongly focusing on incorporating computer vision capabilities.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Computer Vision Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Rapidly increasing need for quality inspection and automation
- Rising demand for application-specific computer vision systems
- Increasing manufacturing of automated and connected cars

Market Restraints
- High implementation cost coupled with limited availability of skilled workforce

Market Opportunities
- Emerging adoption of 3D computer vision systems and advancements in machine learning and AI
- Government initiatives to support industrial automation

Market Challenges
- Increasing security concerns associated with cloud-based image processing

Market Segmentation Analysis
- Component: Growing incorporation of advanced software for predictive analytics
- End-use: Significance of computer vision algorithms to provide more accurate threat detection and analysis

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Computer Vision Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Computer Vision Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Significant Funding Boost for Assert AI to Enhance Computer Vision Technologies

Assert AI, a software as a service (SAAS) company specializing in computer vision, has secured INR 30 crore (approximately USD 4 million) in a funding round. This round saw participation from notable investors including Ramesh Hariharan, Prashant Purker, Arya.ag, and several key individuals. With these funds, Assert AI is set to expand its market presence, especially in India, the US, and the Middle East, intensify its research and development activities, and continue leading innovations in the field of computer vision. [Published On: 2024-04-29]

Apple Enhances Technological Capabilities with Acquisition of AI Startup

Apple has recently expanded its technology portfolio through the acquisition of a Paris-based startup, specializing in AI compression and computer vision. This acquisition, completed in December and reported to the European Commission, entails Apple taking full ownership of the seven-year-old company founded by Xavier and Lucas Fischer. [Published On: 2024-04-23]

Robovision's Strategic Growth through a Hefty Series A Investment

Belgium-based Robovision, an AI-driven computer vision technology startup, has secured a notable USD 42 million in Series A funding, led by Target Global and Astanor Ventures. The recent capital influx boosts Robovision's total funding to USD 65 million, including a previously acquired USSD 23 million convertible loan in 2022. The funds primarily support its expansion into the U.S. market, and propel growth through R&D and new offices in Europe, the Middle East, and Asia. [Published On: 2024-03-28]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Computer Vision Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Computer Vision Market, highlighting leading vendors and their innovative profiles. These include Allied Vision Technologies GmbH, Amazon Web Services, Inc., Basler AG, Blippar Group Limited, Cisco Systems, Inc., Cognex Corporation, Dataiku, Denso Corporation, General Electric Company, Google LLC by Alphabet Inc., Image Metrics, Infineon Technologies AG, Intel Corporation, International Business Machines Corporation, KEYENCE CORPORATION, Matterport, Inc., Meta Platforms, Inc., Microsoft Corporation, NVIDIA Corporation, Omron Corporation, Oracle Corporation, SAS Institute Inc., Teledyne Technologies Incorporated, Texas Instruments Incorporated, Unity Technologies, Verizon Communications Inc., and Zebra Technologies Corp..

Market Segmentation & Coverage

This research report categorizes the Computer Vision Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Hardware
- Services
- Software

Application
- Identification
- Measurement
- Positioning & Guidance
- Predictive Maintenance
- Quality Assurance & Inspection

End-Use
- Automotive & Transportation
- Consumer Goods & Retail
- Gaming, Sports & Entertainment
- Healthcare
- Industrial Automation
- Security & Surveillance

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-431A494C2CD0

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Rapidly increasing need for quality inspection and automation
  - 5.1.1.2. Rising demand for application-specific computer vision systems
  - 5.1.1.3. Increasing manufacturing of automated and connected cars
- 5.1.2. Restraints
  - 5.1.2.1. High implementation cost coupled with limited availability of skilled workforce
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging adoption of 3D computer vision systems and advancements in machine learning and AI
  - 5.1.3.2. Government initiatives to support industrial automation
- 5.1.4. Challenges
  - 5.1.4.1. Increasing security concerns associated with cloud-based image processing
5.2. Market Segmentation Analysis
- 5.2.1. Component: Growing incorporation of advanced software for predictive analytics
- 5.2.2. End-use: Significance of computer vision algorithms to provide more accurate threat detection and analysis
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Computer Vision Market, by Component

6.1. Introduction
6.2. Hardware
6.3. Services
6.4. Software

7. Computer Vision Market, by Application

7.1. Introduction
7.2. Identification
7.3. Measurement
7.4. Positioning & Guidance
7.5. Predictive Maintenance
7.6. Quality Assurance & Inspection

8. Computer Vision Market, by End-Use

8.1. Introduction
8.2. Automotive & Transportation
8.3. Consumer Goods & Retail
8.4. Gaming, Sports & Entertainment
8.5. Healthcare
8.6. Industrial Automation
8.7. Security & Surveillance

9. Americas Computer Vision Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Computer Vision Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Computer Vision Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
- 12.3.1. Significant Funding Boost for Assert AI to Enhance Computer Vision Technologies
- 12.3.2. Apple Enhances Technological Capabilities with Acquisition of AI Startup
- 12.3.3. Robovision's Strategic Growth through a Hefty Series A Investment
12.4. Strategy Analysis & Recommendation

13. Competitive Portfolio

13.1. Key Company Profiles
13.2. Key Product Portfolio