Impact of COVID-19 on Economy, Industry and Company :
The emergence of novel coronavirus has affected the global economy, industry dynamics and company’s top line. The entire ecosystem has to suffer the impact of this pandemic disease which would result in significant demand & supply gap, production delay and weak consumer demand of end products across industries. At Bizizz Market Research, our analyst has done extensive research across industries and identify various methodologies which would assist C-Level executive to counter this ongoing threat and make informed business decision.
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"Global Computer Vision Market was Valued at US$ XX Mn in 2019 and it is Expected to Reach More than US$ XX Mn by 2028, Likely to Grow with the CAGR of 6.15% During the Forecast Period."
Computer vision technology may be a subfield of AI and machine learning, whose primary goal is to know the content of digital images. Computer vision technology is extremely versatile and may be adapted to several industries like manufacturing, healthcare, and defense and security. This market is in its initial phase, but due to the advantages related to technology, it is expected that the market has an immense opportunity within the future.
Increasing Adoption of Artificial Intelligence in Various Business Verticals is anticipated to drive the demand for Computer Vision Market
The Global AI in Computer Vision Market is projected to experience a gentle growth across all developed also as emerging economies. Factors like growing demand for mobile edge computing, increasing adoption of AI in various business verticals, video, and image analysis applications, usage of electronic devices given virtual and augmented reality equipment successively, contribute to the expansion of the AI in Computer Vision Market worldwide. However, lack of technical expertise and concerns associated with the cloud-based image processing could restrain the opportunities of worldwide AI in Computer Vision Market to a particular extent.
By Product, Smart Camera-Based is growing at Fastest Rate during Forecast Period
The growth is endorsed to the developments in smart camera technology and IoT, and the growing perception of smart camera-based computer vision systems. Smart camera-based computer vision systems are lucrative, compressed and adaptable, consequently, it becomes easier to implement changes in these systems maintained brush up regulations and standards.
By End Use, Automotive to Grasp the Largest Share in 2019
The automotive industry is one among the first adopters of computer vision systems and continues to carry the most important share of the pc vision market among other industries within the industrial vertical. Automation is widely used for assembling vehicles during this industry; hence, the adoption of computer vision systems is high. This is often contributing to the expansion of the pc vision market for the automotive industry.
The Computer Vision Market in North America Held a Significant Market Share In 2019.
By geography, the Payment Gateways market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Asia Pacific region comprises of 1 of the fastest-growing economies within the world, like China and India. China dominates the planet in terms of the production of products like a commodity or other electronics goods. The 'Made in China 2025' goal is one among the main drivers which can help the computer vision market to grow within the region since it's wide applications within the manufacturing industry. Moreover, the healthcare sector in India is growing exponentially due to the increase in the government’s initiative. Consistent with the India Brand Equity Foundation in 2018, India is that the destinations for high-end diagnostic services and therefore the cost of surgery in India is about one-tenth of that within the US or Western Europe. Additionally, India is experiencing a 22-25 expansion in medical tourism and therefore the industry is predicted to succeed in USD XX billion by 2028. Thus, it widens the scope for tremendous capital investment for advanced diagnostic facilities, thereby accelerating the adoption and demand of the pc vision technology.
Key industry players such as Basler, Cognex Corporation, Omron Corporation, National Instruments, Sony Corporation, Baumer Optronic, KEYENCE CORPORATION, Teledyne Technologies, Inc, Texas Instruments, Inc., Allied Vision Technologies, Intel Corporation, JAI A/S, MediaTek, Inc., CEVA, Inc., Cadence Design Systems, Inc., Synopsys, Inc, among others.
- PC-Based Computer Vision Systems
- Smart Cameras-Based Computer Vision Systems
- Quality Assurance & Inspection
- Positioning & Guidance
- Predictive Maintenance
By End Use
- Life science
- Defense & Security
- North America
- Latin America
- Asia- Pacific (APAC)
- Middle East and Africa (MEA)