Computer Vision Market Statistics: 2030

Computer vision is a field of Artificial Intelligence and Computer Science that provides computers a visual understanding of the globe. Computer vision is mainly concerned with the concept and technology for structuring the artificial systems that contain relevant information from images or multi-dimensional data and automatic extraction, analysis and understanding of significant data from a single image or a series of images. It involves the development of a theoretical and algorithmic basis to achieve automatic visual understanding.

COVID-19 scenario Analysis:

• The emergence of COVID-19 pandemic has severely affected almost all industries except healthcare across the world. Further, lockdown restriction on movement has disrupted the supply chain across the globe and had a low impact on the growth of the AI in the computer vision market.
• The outbreak of COVID-19 pandemic has caused a major setback to the export-oriented economies due to the temporary shutting down of manufacturing plants.
• Furthermore, there are strong indications that the current decrease in demand for digital solutions will be just a short-term phenomenon. In the medium-to-long run the COVID-19 technology impact may be extremely positive. Everyone is forced to embrace new technologies and discover their benefits. Additional investments in digital infrastructure can be expected.

Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis

Growing demand for computer vision systems in non-traditional and emerging applications

Computer vision systems and software are developed to report new applications related to the healthcare industry, traffic management, security & surveillance, postal & logistics, and document processing. In addition, it is expected to benefit from in-house built application which is specified to AI-enabled computer vision systems. Further, AI-enabled computer vision systems are experiencing an increase in demand in various emerging applications such as impotent aerial vehicles, missile guidance, and autonomous vehicles. The implementation rate of advanced driver assistance system (ADAS) is on a rapid rise for high-end vehicles. The combination of vision systems and image capture are component which are used in designing of ADAS and enable it to offer additional and enhanced features beyond those provided by radar, LiDAR, infrared, ultrasound, and other sensing technologies.

Growing security concerns related to cloud-based image handling and analytics

AI in computer vision solutions is expected to drive the growth potential in vision markets such as consumer electronics and security & surveillance. In addition, issues related to cloud data storage, such as data theft, and inaccessibility of cloud data is on a day-to-day increase and it is essential for cloud service providers to offer consistent data services to customers. Cloud service providers are making efforts to confirm data security over stored data of cloud clients by using mechanisms such as Firewalls and virtualization. However, these efforts are not able to provide complete data protection because of their liabilities over the network and have a control over cloud applications, hardware, and client data. This is expected to hamper the growth of AI in the computer vision market.

Key Segments covered:

Key benefits of the report:

• This study presents the analytical depiction of the global computer vision market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global computer vision market share.
• The current market is quantitatively analyzed from 2020 to 2030 to highlight the global computer vision market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides detailed global computer vision market analysis based on competitive intensity and how the competition will take shape in coming years.

Questions answered in the global computer vision market research report:

• Which are the leading market players active in the computer vision market?
• What would be the detailed impact of COVID-19 on the market?
• What current trends would influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the computer vision market?
• What are the projections for the future that would help in taking further strategic steps?