Advanced Computer Vision Market

Market Definition

The global Advanced Computer Vision Market size was valued at USD 14.44 billion in 2023 and is predicted to reach USD 39.75 billion by 2030 with a CAGR of 15.7% from 2024-2030. Advanced computer vision is a field that focuses on developing and applying computer vision algorithms and techniques to solve complex real-world problems. It is a subfield of artificial intelligence that enables computers to understand and interpret visual information, such as images and videos.

Advanced computer vision systems use deep learning algorithms to learn from large datasets of images and videos. This allows them to perform tasks such as object detection, tracking, and recognition with high accuracy. Advanced computer vision systems can also be used to reconstruct 3D scenes from images and videos, and to combine visual information with other sensor data to create more robust and accurate systems.

It has a wide range of applications, including self-driving cars, medical imaging, robotics, augmented reality, and virtual reality. In medical imaging, advanced computer vision is used to help doctors diagnose diseases and perform surgery. Also, in robotics, it is used to help robots perceive their surroundings and interact with objects. In augmented reality and virtual reality, advanced computer vision is used to create immersive experiences that overlay digital information on the real world. 

Market Dynamics and Trends

Increasing adoption of hybrid and electric cars across the world as they are environment friendly, efficient and reduces maintenance is driving the advanced computer vision of the market. Hybrid and electric cars are equipped with advance computer vison software and hardware for energy management. According to a report by the International Energy Agency (IEA), the number of electric cars on the road reached 10 million in 2020, which is a 43% increase from the previous year. The report also states that the global electric car stock is expected to reach 145 million by 2030.

Also, growing use of vision-guided robotic (VGR) systems in manufacturing industries for quality control, assembling, fluid dispensing and product handling is further driving the growth of the market. Vision-guided robotic (VGR) systems use computer vison to locate objects and move to variable target position that enables it to perform these tasks with high accuracy and efficiency. Moreover, high adaption of 3D computer vision systems for production line inspection across the world is driving the growth of the market. 3D computer vision system uses high-resolution images to build a full 3D model of components or products that allows it to inspect very high number of products in minimum time.

However, high deployment cost of computer vision solutions and complex integration process of computer vision systems are the factors restraining the growth of market. On the contrary, Introduction of industry 4.0 that integrates computer vision systems with robots and high-speed internet for industrial automation is expected to create ample opportunities for the market in the coming years. 

Market Segmentations and Scope of the Study

The advanced computer vision market report is segmented on the basis of component, product, application, end user industry and geography. On the basis of component, the market is divided into hardware, software, and services. The hardware segment is further divided into cameras and image sensors, communication interface, frame grabbers, led lighting, and processors. Based on product, the market is divided into smart camera-based computer vision systems and pc-based computer vision systems. Based on Application, the market is categorized into image segmentation, object detection, facial recognition, edge detection, pattern detection, image classification and feature matching. On the basis of end user industry, the market is divided into military & defence, automotive & transportation, healthcare and others. Geographic breakdown and analysis of each of the previously mentioned segments include regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America holds the major share of advanced computer vision market, and is expected to continue its dominance during the forecast period. This is attributed to factors such as high expenditure in defence sector in this region that enables the adoption of advance military equipment’s such as combat drones that are equipped with computer vision. Drones are used in various military tasks such as ISR (Intelligence, Surveillance, and Reconnaissance) operations. Moreover, presence of key market players such as Teledyne Technologies, Allied Vision Technologies, Texas Instruments, and Intel Corporation further boost the market growth in this region.

For instance, in April 2022, Teledyne launched a line scan camera called Linea ML 8k for industrial computer vision systems. It is a multispectral camera that offers versatile capabilities including spectrally independent RGB and NIR outputs. It uses Teledyne DALSA’s latest CMOS 8k quad linear sensor with a 5x5 μm pixel size and delivers a maximum line rate of 70 kHz x 4 using Camera Link HS (CLHS) fibreoptic interface.

On the other hand, Asia-Pacific is expected to show a steady rise in the advanced computer vision market owing to the high adoption of computer vison technology for visual inspection in workplaces in countries such as China and Japan. For instance, in February 2022, LiLz Gauge launched that a visual inspection product that computer vision and machine learning, which will be used to automate daily visual inspections in locations with no power nor network supply. Moreover, factors such as rapid growth of industries such as manufacturing, healthcare, and automotive in Asia Pacific region is further fueling the growth of the market. These industries are investing heavily in advanced computer vision technology to improve productivity, safety, and efficiency, which is increasing its adoption, in turn driving the growth of the market.

Competitive Landscape

Various market players operating in the advanced computer vision industry includes Verkada,Cognex Corporation,Intel Corporation,KEYENCE CORPORATION,Matterport, Inc.,Omron Corporation,Sony Semiconductor Solutions,Teledyne Technologies,Texas Instruments Inc,Athena Artificial Intelligence Pty Ltd These market players are launching latest products across various regions to maintain their dominance in the global market.

For instance, in September 2023, Cognex Corporation launched DataMan 380, a fixed-mount barcode reader that uses advanced optics and integrated AI to accelerate throughput across logistics and manufacturing applications. It uses a high-resolution imager to capture more codes in a single image for maximum traceability. This wide field of view simplifies deployment and operations, which can outperform an array of conventional readers. 

Moreover, in April 2022, Basler AG launched CXP-12 Vision System that features high resolution and a large field of view. CXP-12 Vision System provides high reliability and smooth system operation along with a quick and easy setup. Through this launch Basler aims to improve its product portfolio and market presence.

Key Benefits

• The report provides quantitative analysis and estimations of the advanced computer vision market from 2023 to 2030, which assists in identifying the prevailing market opportunities.

• The study comprises a deep dive analysis of the advanced computer vision market including the current and future trends to depict prevalent investment pockets in the market.

• Information related to key drivers, restraints, and opportunities and their impact on the global market is provided in the report. 

• Competitive analysis of the players, along with their market share is provided in the report.

• SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of roles of stakeholders.

Advanced Computer Vision Market Key Segments

By Component

• Hardware

  • Cameras And Image Sensors

  • Communication Interface

  • Frame Grabbers

  • LED Lighting

  • Processors

• Software 

• Services

By Product

• Smart Camera-based Computer Vision Systems

• PC-based Computer Vision Systems

By Application

• Image Segmentation

• Object Detection

• Facial Recognition

• Edge Detection

• Pattern Detection

• Image Classification

• Feature Matching

By End User Industry 

• Military & Defence

• Automotive & Transportation  

• Healthcare

• Others

By Region

• North America

  • U.S

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France    

  • Italy

  • Spain

  • Denmark

  • Netherlands

  • Finland

  • Sweden

  • Norway

  • Russia

  • Rest of Europe

• Asia-Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Indonesia

  • Singapore

  • Taiwan

  • Thailand

  • Rest of Asia-Pacific

• RoW

  • Latin America

  • Middle East 

  • Africa

Report Scope and Segmentation

Parameters	Details
Market Size in 2022	USD 14.44 Billion
Revenue Forecast in 2030	USD 39.75 Billion
Growth Rate	CAGR of 15.7% from 2023 to 2030
Analysis Period	2022–2030
Base Year Considered	2022
Forecast Period	2023–2030
Market Size Estimation	Billion (USD)
Growth Factors	Increasing adoption of electric cars across the world. Growing use of vision-guided robotic (VGR) systems in manufacturing industries
Countries Covered	28
Companies Profiled	10
Market Share	Available for 10 companies
Customization Scope	Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope.
Pricing and Purchase Options	Avail customized purchase options to meet your exact research needs.

Key Players

• Verkada

• Cognex Corporation

• Intel Corporation

• KEYENCE CORPORATION

• Matterport, Inc.

• Omron Corporation

• Sony Semiconductor Solutions

• Teledyne Technologies

• Texas Instruments Inc

• Athena Artificial Intelligence Pty Ltd