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Computer Vision Market Size Worth $19.1 Billion By 2027 | CAGR: 7.6%: Grand View Research, Inc.SAN FRANCISCO, Nov. 23, 2020 /PRNewswire/ -- The global computer vision market size is expected to reach USD 19.1 billion by 2027, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 7.6% from 2020 to 2027. This technology has emerged as an emulation of a human visual system to support the automation tasks that require visual cognition. However, the process of image deciphering is more complicated than analyzing data in a binary form due to the vast amount of multi-dimensional data in an image for analysis. Artificial neural networks and deep learning are being used to increase computer vision's capabilities of replicating human vision, to address such complexity in developing AI systems to recognize visual data. Besides, this technology has become more adept at pattern recognition than the human visual cognitive system, with the advents in deep learning techniques.  Key suggestions from the report:
Read 100 page research report with ToC on "Computer Vision Market Size, Share & Trends Analysis Report By Component (Hardware, Software), By Product Type (Smart Camera-based, PC-based), By Application, By Vertical, By Region, And Segment Forecasts, 2020 - 2027'' at: https://www.grandviewresearch.com/industry-analysis/computer-vision-market Also, different trends are emerging in the use of computer vision techniques and tools after the COVID-19 outbreaks. It is being used for multiple purposes of fighting against COVID-19, such as medical data monitoring to diagnose patients and movement and traffic control in urban spaces. For instance, Numina, a U.S.-based startup that delivers real-time insights using computer vision for the development of sustainable cities, has developed a tool that enales monitoring of social distancing in the cities, such as New York. Also, the tool built by Numina provides real-time insights on pedestrian movements to monitor how people are following social distancing guidelines (2-meter distance). For another instance, in December 2019, BlueDot, a Canadian start-up that provides an AI platform for infectious disease detection, predicted the coronavirus infections before the statement released by the World Health Organization (WHO) for the pandemic. Therefore, from accelerated drug discovery to social distancing monitoring, AI-enabled with computer vision is at the forefront in the fight against this pandemic. Artificial intelligence with computer vision technology is becoming increasingly popular in different use-cases, such as imagery solutions in consumer drones and autonomous and semi-autonomous vehicles. Also, the recent advancements in computer vision comprising image sensors, advanced cameras, and deep learning techniques have widened the scope for these systems in various industries, including education, healthcare, robotics, consumer electronics, retail, manufacturing, and security and surveillance, among others. For instance, image captioning in social media platforms is one of the most popular applications of computer vision. These platforms use deep learning algorithms to apply pattern recognition in images shared by the users and provide textual information extracted from the images. Grand View Research has segmented the global computer vision market based on component, product type, application, vertical, and region:
List of Key Players of Computer Vision Market
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Gain access to Grand View Compass, our BI enabled intuitive market research database of 10,000+ reports About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead. Contact: Logo: https://mma.prnewswire.com/media/661327/Grand_View_Research_Logo.jpg 
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