[March 15, 2018]

Computer Vision Global Market Report 2018-2023 - Market to Reach $17.38 Billion Growing at a CAGR of 7.8% - ResearchAndMarkets.com

The "Computer Vision Market by Component (Hardware (Camera, Frame Grabber, Optics, Processor) and Software (Deep Learning and Traditional Software)), Product (PC Based and Smart Camera Based), Application, Vertical - Global Forecasts to 2023" report has been added to ResearchAndMarkets.com's offering.

The overall computer vision market is expected to be valued at USD 11.94 Billion in 2018 and is likely to reach USD 17.38 Billion by 2023, at a CAGR of 7.8% between 2018 and 2023.

The increasing demand for AI-integrated computer vision systems and the rising adoption of computer vision in UAVs are likely to create huge growth opportunities for the computer vision market. However, factors such as changing requirements of end users with respect to computer vision applications and lack of flexible computer vision solutions are restricting the growth of the market.

Predictive maintenance (PdM) is one of the emerging application areas wherein computer vision systems are used. This application area is expected to expand in the coming years with the introduction of AI- and IoT-integrated computer vision systems. Thus, the market for predictive maintenance applications is expected to grow at the highest rate between 2018 and 2023.

APAC provides ample growth opportunities for the computer vision market as it is considered as a major manufacturing hub for various industries. The ongoing large-scale developments in the emerging economies in APAC owing to the growing use of advaced technologies in manufacturing industries is contributing to the growth of the computer vision market in APAC.

Companies that are capable of providing IoT- and AI-integrated computer vision systems are expected to emerge as game changers as these systems will reduce human intervention and boost the overall efficiency of the systems.

Market Dynamics

Drivers

• Increasing Need for Quality Inspection and Automation
• Growing Demand for Vision-Guided Robotic Systems
• Rising Demand for Application-Specific Computer Vision Systems
• Increasing Adoption of 3d Computer Vision Systems

Restraints

• Varying End-User Requirements
• Lack of Flexible Computer Vision Solutions

Opportunities

• Growing Adoption of Industrial 4.0
• Increasing Manufacturing of Hybrid and Electric Cars
• Government Initiatives to Support Industrial Automation
• Increasing Demand for Artificial Intelligence (AI) in Computer Vision
• Government Initiatives to Boost AI-Related Technologies
• Rising Adoption of Computer Vision Systems in Uavs

Challenges

• Complexity in Integrating Computer Vision Systems
• Lack of User Awareness About Rapidly Changing Computer Vision Technology

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Computer Vision Market, by Component

7 Computer Vision Market, by Product

8 Computer Vision Market, by Application

9 Computer Vision Market, by Vertical

10 Geographic Analysis

11 Competitive Landscape

12 Company Profile

• Algolux
• Ametek
• Basler
• Baumer Optronic
• Cadence Design Systems
• Ceva
• Clarifai
• Cognex
• Intel (News - Alert)
• Isra Vision
• Jai A/S
• Keyence
• MediaTek
• Mvtec Software
• National Instruments (News - Alert)
• Omron
• Qualitas Technologies
• Sick
• Sony
• Sualab
• Synopsys
• Teledyne Technologies
• Texas Instruments (News - Alert)
• Tordivel AS

For more information about this report visit https://www.researchandmarkets.com/research/vrqclx/computer_vision?w=4

View source version on businesswire.com: http://www.businesswire.com/news/home/20180315006396/en/

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