Global Computer Vision Market 2019; Here’s All You Need To Know!

Global Global

In 2019, the global computer vision market was valued at USD 10.9 billion and estimated to project the value of USD 17.4 billion by 2025, registering a CAGR of 7.8 percent during the forecast period. The driving factors influencing the market growth includes increasing demand for vision-guided robotic systems, increasing requirement for quality inspection, increasing demand for application specific computer vision systems.

The global computer vision market is categorized into several segments including component, product, application, vertical and geography. In terms of component, the global computer vision market is fragmented into Hardware and Software. Based on the product, the global computer vision is divided into PC-based computer vision systems and Smart cameras-based computer vision systems.

The automotive industry is considered as the early adopters of computer vision systems and it continues to hold the largest share of the computer vision market. As automation is widely used for assembling vehicles in the industry; hence the adoption of computer vision is lucratively high. This provides a major contribution to the growth of the computer vision market in the automotive industry.

On the basis of application, the global computer vision is segregated into Quality Assurance & Inspection, Positioning & Guidance Measurement, Identification, and Predictive Maintenance. Based on the vertical, the global computer vision is subjected into Industrial vertical and non-industrial vertical. Looping onto the geographical view, the global computer vision is a wide range to North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW).

Leading players of the global computer vision market includes Allied Vision Technologies (Germany), KEYENCE CORPORATION (Japan), Baumer Optronic (Germany), Intel Corporation (US), Sony Corporation (Japan), Synopsys, Inc. (US), Teledyne Technologies, Inc. (US), Texas Instruments, Inc. (US), JAI A/S (Denmark), Cognex Corporation (US), Cadence Design Systems, Inc. (US), Omron Corporation (Japan), National Instruments (US), MediaTek, Inc. (Taiwan), CEVA, Inc. (US), and Basler (Germany).

The US-based Cognex Corporation stands on a significant position in the global computer vision market resulting to its strong employment structure and presence across the globe. In addition, it owns a big office premises and distributorships in Americas, Europe, and Asia region. The company has production units in Europe, and the US. Moreover, it focuses on expanding its position as a computer vision provider in several markets by acquiring business and technologies. Moreover, Cognex Corporations has acquired AQSense (Spain), EnShape (Germany), Chiaro (US) to boost its portfolio of computer vision portfolio products.

leave a reply