Computer Vision Market 2019 Receives a Rapid Boost in Economy due to High Emerging Demands by Forecast to 2023
Computer Vision Market Synopsis:
Computer vision is a branch of computer science which deals with identifying and processing images to provide output similar to human being. Basically it is providing the capability of human vision to a computer. It makes the use of artificial intelligence to identify and interpret what the image actually is about. Computer vision provides results based on observation and interprets the next action. For instance, computer vision in automobile observes the surroundings such as lane dividers, traffic lights and obstacles and act according to it. The vehicle stops automatically if a sudden obstacle is observed.
This action is processed by machine vision systems coupled with artificial intelligence which helps in controlling of the car.
Computer Vision Market is an integral part of the Internet of Things. Robots in industries are capable of detecting the fault products, flights and drones are capable of avoiding obstacles through vision processing, automobiles capable of avoiding obstacles and following signals through artificial intelligence are current trending applications of computer vision technology. Advancements in AI particularly in deep learning have accelerated the computer vision market growth. Deep learning provides developers in identifying the objects with greater ease and can be trained through a set of programs which can increase the accuracy. Tesla, Inc. an American company which is specialized in electric automobiles partnered with AMD to develop their own AI chip for self-driving cars. The AMD chipsets will be capable of using deep learning techniques and algorithms to detect objects in their path.
Demand for image and video analysis applications from various industry segments, adoption of AI into business segments and increase in usage of consumer electronic devices which are equipped with visionary sensors such as augmented and virtual reality headsets are driving the market growth. However lack of technical expertise in deep learning is hampering the market growth.
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Major Key Players:
- Google LLC (U.S.)
- Facebook Inc. (U.S.)
- Microsoft Corporation (U.S.)
- Nvidia Corporation (U.S.)
- Mercedes-Benz (Germany)
- IBM Corporation (U.S.)
- Autoliv Inc (U.S.)
- PlayfulVision (Switzerland)
- Wikitude GmbH (Germany)
- Cognex Corporation (U.S.)
- National Instruments Corporation (U.S.)
- General Electric (U.S.)
- VideoIQ (U.S.
- KLA-Tencor Corporation (U.S.)
The global computer vision market is studied in North America, Europe, Asia Pacific and Rest of the World. North America holds the major market share for global computer vision market. The adoption of machine vision across several industries such as automotive and manufacturing are driving the market in this region. Adoption of surveillance analytics for user behavior tracking is fuelling the market growth.
Asia Pacific region is anticipated to show steep growth during the forecast period. The adoption of virtual and augmented displays in automotive and 3D gaming is driving the market in this region. Computer vision is primarily being adopted for image recognition and in medical image analysis is promoting the market growth.
The global computer vision market is segmented on the basis of the component, business model, application, industry and region. On the basis of component the segment is further classified into hardware and software. Hardware components consist of scanners, cameras, sensors, sonar, processing chipsets and others. On the basis of business model the segment is classified into Software as a Service, technology licensing, on-time payment and pay as you go service.
The computer vision can is useful in various applications such as facial recognition, gesture analysis, image restoration, character recognition, medical image analysis and many more. The computer vision technology is deployed in various industry verticals such as agriculture, automotive, healthcare, entertainment, consumer electronics, transportation and many more.
- Umbo computer vision, leading provider of video security technology, released Umbo SmartBullet. It possesses AI-based technology which can be used for intruder detection in industries, transportation areas, schools and many others.
- Microsoft Corporation, recently launched an update for embedded image recognition for mobile applications. Part of Azure cognitive services suite, Microsoft tool enables computer vision capabilities such as identifying objects in applications. They developed real-time image classification functionality for iOS devices.
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- Research Organizations
- Software developers
- Technology investors
- Component suppliers
- Service providers
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