Computer Vision Market 2021 Will Reflect Significant Growth in Future with Size, Share, Growth, and Key Companies Analysis

In a recent published report, Kenneth Research has updated the market report for Computer Vision Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Computer Vision Market products.

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The Computer Vision Market is estimated to record a significant growth throughout the forecast period. The ICT sector constitutes 4.8% of the European economy. Europe’s organization ERDF i.e. European Regional Development Fund has allotted approximately USD 23 billion for investments related to ICT during the funding period 2014-2020. ICT refers to the communication technologies including the internet, wireless networks, social networking, cell phones, video-conferencing, computers, software, and other media applications and services enabling users to access, retrieve, and manipulate information in a digital form.

Market Snapshot

The computer vision technology landscape continues to undergo relentless transformation, concurrently creating new application opportunities. In 2017, the global market for computer vision stood at over USD 9,200 Mn and is expected to surpass a valuation of USD 48,300 Mn by 2023, reflecting a steady growth. Vision computing is viewed as a technology with high potentials, and from the current standpoint the future looks bright. Though we are still a long way from getting computers view, picture and identify real-world objects with high accuracy, advent of computer vision has been a steppingstone in moving towards that direction. Moreover, integration of deep learning and artificial intelligence with computer vision has significantly increased the level of efficacy of the technology. This has also prompted a fast adoption of computer vision systems in various industrial verticals.

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Report Overview

This report delivers an unbias market foresight on computer vision technology for the next five years. It also discusses the key developments that took place in the global computer vision market in recent years, as a part of the market’s historical analysis. The users of the report will come across market opportunities and trends that are likely to arise during course of the projected years.  The scope of research covers components such as hardware and software. The market is also analyzed based on computer vision applications, which comprise face recognition, gesture recognition, and character recognition.

Key end-users discussed in report include agriculture, automotive, healthcare, entertainment, consumer electronics, transportation. This will allow report users to identify the segments that are highly lucrative and capitalize on growth opportunities while minimizing risks. All the segments and sub-segments are profiled under four major geographies– North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA) with the respective country-level market sizes.

Players Covered

Intel Corporation (U.S.), Keyence Corporation (Japan), National Instruments (U.S.), Microsoft Corporation (U.S.), Nvidia Corporation (U.S.), Cognex Corporation (U.S.), IBM Corporation (U.S.), Autoliv Inc. (U.S.), Sony Corporation (Japan), and Basler AG (Germany)

The report offers insights on the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives.

Research Methodology

The research methodology employed by MRFR ensures collection of highly accurate data that imparts a vivid picture of the market. The trend involving the reshaping of markets which has gathered momentum recently is also addressed in the reports. Our research expertise also ensure that data is treated as objectively as possible. By focusing on the trends that are prevailing in dynamic markets and providing data to support effective decision making in these situations, we empower our clients to create robust growth strategies. The report’s insights also allow users to identify and invest in technologies and trends that are shaping the market. The well-established methods for data collection facilitate identification of the current state of the market. Our reports are held to an excellent set of standards that distinguish them from that of other intermediaries. The top-up and bottom-down approaches used include coverage areas and other important revenue pockets that add to the overall report quality.

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Analysis Period

Base Year- 2016

Projection Period- From 2017 to 2023

Currency- USD Million

Conversion Rate- Considered as per the respective financial years

For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global market for computer vision

By Component

Hardware

Software

By Application

Face Recognition

Gesture Recognition

Character recognition

By End-User

Agriculture

Automotive

Healthcare

Entertainment

Consumer electronics

Transportation

Others

By Region

North America; The U.S., Canada, and Mexico

Europe; Germany, the UK, France, Italy, and Rest of Europe

Asia Pacific (APAC); China, Japan, India, South Korea, and Rest of Asia Pacific

The Middle East & Africa

Additional Free Customization

Additional 2 Country Data (Value + volume)

Additional 7 company profiles

Criss-cross segmentation, 2nd level segmentation

Intended Audience

Semiconductor product designers and fabricators

Developers of machine vision-related applications

Providers of machine vision-related components and solutions

Technology standard organizations, forums, alliances, and associations

Technology investors

Universities and research organizations

Government bodies

About Kenneth Research:

Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.

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