USD 15.19 billion
Computer Vision Market Size, Share, Growth Analysis, By Component (Hardware, Software), By Product Type (Smart Camera-Based Systems, PC-Based Systems), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45E2084 |
Region:
Global |
Published Date: July, 2024
Pages:
157
|Tables:
87
|Figures:
76
Computer Vision Market Insights
Computer Vision Market size was valued at USD 17.4 Billion in 2023 and is poised to grow from USD 18.81 Billion in 2024 to USD 35.08 Billion by 2032, growing at a CAGR of 8.1% during the forecast period (2025-2032).
Computer vision AI is intended to enable computers to detect, identify, and understand objects and people in images and videos. The high business demand for automation and efficiency acts as one of the main moving factors of the industry rise in AI. Automation and efficacy will enable businesses to enhance the accuracy of their decision-making processes while spending less time and money. This factor influences the market positively, as owing to this, most companies today are automating procedures and increasing productivity by the incorporation of AI computer vision technologies. The use of computer vision systems can extend to manufacturing facilities to conduct product inspection and defect detection. It raises productivity levels and reduces waste as it allows for the identification and resolution of issues linked to production rapidly and with greater effectiveness. In addition, the main industrial growth driver is the increase of applications of computer vision systems. Over recent years, there has been an expansion of computer vision applications in several industries; further increases are expected to take place in the future. Facilitating face recognition applications within public and private sectors by more people has revitalized this area as a lucrative opportunity for market expansion in facial recognition technology.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Industrial
Fastest Growth
Industrial
Growth Rate
18.9% CAGR
Country Share for Asia Pacific Region (%)
To get more reports on the above market click here to Buy The Report
Computer Vision Market Segmental Analysis
Global Computer Vision Market is segmented by component, product type, application, vertical and region. Based on component, the market is segmented into hardware and software. Based on product type, the market is segmented into smart camera-based systems and PC-based systems. Based on application, the market is segmented into quality assurance & inspection, positioning & guidance, measurement, identification, predictive maintenance and 3d visualization. Based on vertical, the market is segmented into automotive, healthcare, manufacturing, retail, security & surveillance, agriculture and others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis By Component
With over half of the market, the hardware segment is expected to earn the largest profit margin. A wide range of diverse hardware components, including processors, cameras, lenses, frame grabbers, and LED lights, are included in the hardware category. The market's segmented expansion may be attributed to the widespread availability of complex hardware platforms with simple component interconnection and advanced characteristics including fast processing, multi-mega-pixel resolution, and fully digital data handling. Thus, this aids in the market's development during the anticipated period.
The fastest-growing software segment in the computer vision market is a result of the rapid developments in AI, deep learning frameworks, and machine learning techniques. These advancements have increased the functionality and accuracy of computer vision programs, allowing them to be used for more tasks. Due to the widespread availability of strong and reasonably priced computing resources such as GPUs and cloud platforms, more organizations are also able to develop and implement sophisticated computer vision software. This has led to an increase in the requirement for software solutions that can be tailored for a variety of industries, including healthcare, automotive, retail, and security. In addition, a growing number of developers and businesses are finding it easier to generate ideas and construct apps thanks to the widespread availability of open-source libraries and tools. This further fastens the expansion of the computer vision industry's software segment.
Analysis By Product
The PC-based systems are dominating due to higher processing power, scalability, and flexibility. With the former, more processing power is available, opening the door for more advanced image analysis and machine learning methods. They can be applied in many applications in a variety of industries since they can be more easily integrated with the current IT infrastructure. As they are flexible, they can easily integrate with the current IT infrastructure by assuring their compatibility with existing systems and allowing updates and extensions more smoothly. PC-based systems are favored in managing heavy visual activities and data processing requirements because they are scalable and agile.
Smart camera-based computer vision systems will be increasingly liked due to their ease in affordability, portability, and affordable cost. Stand-alone smart cameras group the capturing, processing, and output of an image within one device, which decreases system complexity and reduces the installation time. Therefore, technology has enabled smart cameras to apply increased capabilities for increasingly complex visual tasks. It caters to edge computing and the Internet of Things, thereby accelerating further usage of smart camera-based solutions. Smart camera-based solutions have gone mainstream in various industries due to cost-effectiveness and ease of deployment.
Computer Vision Market By Component(%)
To get detailed analysis on other segments, Request For Free Sample Report
Computer Vision Market Regional Insights
By geography, North America captures the largest share of the market. The leading share can be contributed to the wide-scale deployment of IoT in the region. A robust IT and communications infrastructure in the region, along with large volumes of cloud and edge deployments, is another contributory factor for the adoption of computer vision. In addition, due to growing applications of computer vision into manufacturing, retail, healthcare, and security industries, among others, the market is growing. These models perform even better due to the growing volume of photo and video data which provides them with useful training information. Thus, these factors facilitate the regional market growth.
In terms of compound annual growth rate (CAGR), Asia Pacific is anticipated to increase at the fastest rate throughout the forecast period. This increase in demand in the regional market is attributed, at least in part, to the growing number of use cases across various industries. The application of computer vision in the automotive, electronics, and industrial sectors to improve safety and automate various processes, such as inventory management, quality inspection, and assembly lines, is driving demand in Asia Pacific. These industries continue to invest in R&D and product development, and future demand for computer vision systems is expected to increase. The government's policies and initiatives are significant drivers of the market expansion in this sector.
Computer Vision Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Computer Vision Market Dynamics
Computer Vision Market Drivers
Encourage Manufacturing to Drive Market Growth with Efficient Quality Control
- One major reason behind the industrial rise of artificial intelligence is growing demand for automation and efficiency. Due to automation and efficacy, businesses can enhance their decision-making processes to a whole new level of high accuracy, saving money and time altogether. Therefore, several firms presently are automating processes by boosting productivity with the help of AI computer vision technologies. For instance, computer vision systems can be installed in manufacturing facilities to aid in product defect inspections. This raises productivity and reduces waste as the problems in production can now be identified and solved much faster. Therefore, this factor acts as a growth factor in the market.
Growing Applications of Computer Vision Systems
- The growing number of applications in which computer vision systems can be used highly depends on the industrial growth rate. Different industries have seen expansion in recent years in which applications of computer vision are found; this is predicted to continue in the forthcoming years. With face recognition applications becoming ever more popular in public and private sectors due to increasing numbers of people applying facial recognition technology in life, this opens a good opportunity for market expansion in return. Further, some very modern applications, such as product/content discovery systems used in the online retail sector, use computer vision systems to help the user with purchases based on photographs provided by the user. These growing applications are expected to drive significant growth in the computer vision industry.
Computer Vision Market Restraints
High Purchase and Implementation Costs to Companies Is Anticipated to Hinder Market Growth
- The major impeding factors in the market's growth are the purchase cost of a computer vision system and implementation cost for companies. Development and deployment cost remains high for these AI systems, while their improved versions often require specific hardware and software along with expertise too. Those companies which are not familiar with the AI-based computer vision face big tasks to purchase and deploy such systems. Of course, hardware, software licenses, and technical support cost extra money. In addition, businesses may need to invest time in training and development to enhance their technical capabilities regarding the systems. For this reason, all these factors are posing a barrier towards industry growth.
Security and Privacy Concerns
- Most applications of computer vision raise serious privacy concerns due to their capability in data collection and processing of personal information. As such, the development and implementation of these systems must navigate through the complex ethical and legal hurdles. Stronger barriers are being imposed through regulations such as CCPA and GDPR on data collection and its processing. Moreover, biases in training datasets have the potential to result in biased outcomes that may erode confidence in the utilization of computer vision technologies. Such biases may perpetuate inequalities, extend privacy concerns, and raise ethical dilemmas that businesses need to address to regain trust and build compliance.
Request Free Customization of this report to help us to meet your business objectives.
Computer Vision Market Competitive Landscape
Key players in the industry have been expanding their global presence offering niche and industry-specific solutions. They have resorted to mergers and acquisitions of regional companies to establish a strong presence across several regions. These companies are focusing on devising successful marketing strategies and discovering new ways to retain and grow their respective market shares. This, in turn, will lead to a higher demand for computer vision solutions and may result in the opening of new business avenues for the players operating in the computer vision market.
Computer Vision Market Top Players Company Profiles
- Intel Corporation
- NVIDIA Corporation
- Microsoft Corporation
- Alphabet Inc.
- Cognex Corporation
- Keyence Corporation
- Sony Corporation
- Texas Instruments Incorporated
- Omron Corporation
- Basler AG
- FLIR Systems, Inc.
- Cadence Design Systems, Inc.
- Synopsys, Inc.
- Qualcomm Technologies, Inc.
- Allied Vision Technologies GmbH
- LMI Technologies
Recent Developments
- December 2023: AlwaysAI collaborated with academics at the University of California, San Diego, to further develop computer vision technologies. This partnership allows users to leverage the outstanding academic and technological capability of San Diego to develop pragmatic computer vision applications that will serve unparalleled value to customers.
- October 2023: Remark Holdings, Inc. designs and develops artificial intelligence-influenced video analytics and has partnered with Intel and Arrow Electronics. According to the agreement, it would add more than 200,000 customers upon the deployment of Intel-based AI servers running Remark's Smart Safety Platform, or SSP-developed for the administration of warehousing, sales, and logistics sales support.
- August 2023, TechSee announced the integration of Amazon Web Services to offer Amazon Connect. By combining an augmented reality platform with artificial intelligence, Amazon Connect provides better customer service at a lower cost.
Computer Vision Key Market Trends
- Manufacturing, logistics, and agriculture are some of the fields where maximum benefit could be achieved by the application of computer vision AI. It finds application in agriculture for the implementation of automation functions related to productivity prediction, monitoring of plants, and detection of diseases. Such systems can analyze images of crops and provide data on crop growth, health status, and yield potential that help the farmer with decision-making. For this reason, this feature is expected to drive the market.
- Another significant trend contributing to the sector's growth is the use of computer vision. For instance, the manufacturing industry is a place where automation and robots most extensively use computer vision systems. In addition, there is a trend towards completely automated manufacturing in manufacturing facilities, which propels the need for more sophisticated solutions to monitor industrial processes and outcomes. The Internet of Things is revolutionizing manufacturing, hence streamlining the industrial processes. One of its parts includes machine vision, a sub-discipline of computer vision.
Computer Vision Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest Analysis, the adoption of generative AI is effective in having a considerable influence on computer vision, facilitating the creation of realistic images, enhancing image generation tasks, and aiding in data augmentation. Besides, generative AI has a potentiality in computer vision, with maturing technology and permeation for greater adoption and revolutionary applications across various industries. Therefore, this factor boosts the growth in the global computer vision market. Key players in the industry have been expanding their global presence offering niche and industry-specific solutions. They are adopting several strategies, including partnerships, collaboration, product development & innovation, and marketing, to maintain their foothold in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 15.19 billion |
| Market size value in 2031 | USD 72.25 billion |
| Growth Rate | 18.9% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Computer Vision Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Computer Vision Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Computer Vision Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Computer Vision Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Computer Vision Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Computer Vision Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
