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Growing application of computer vision in non-industrial applications & advancements in the field of computer vision & AI is creating a lucrative opportunity.

PORTLAND , PORTLAND, OR, UNITED STATE, September 7, 2022 /EINPresswire.com/ -- The surge in demand for computer vision systems in automotive applications, growing inclination toward emotional AI, and high demand for quality inspection and automation drive AI in the computer vision market.

On the other hand, the rise in safety & security-related concerns impedes growth to some extent. However, government initiatives to boost AI-related technologies are expected to create lucrative opportunities in the AI vision market.

Artificial Intelligence (AI) with computer vision technology is becoming increasingly popular in different use-cases, such as computer vision solutions in consumer drones and autonomous and semi-autonomous vehicles.

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Also, the recent advancements in computer vision comprising image sensors, advanced cameras, and deep learning techniques have widened the scope for computer vision systems in various industries, including education, healthcare, robotics, consumer electronics, retail, manufacturing, and security & surveillance, among others.

In 2020, the global computer vision market share was dominated by the industrial market segment and is expected to maintain its dominance in the upcoming years. The industrial segment includes verticals that involve computer vision applications in manufacturing processes, such as automotive, consumer electronics, metals, wood & paper, food & packaging, machinery, and textiles, among others.

This high share is attributed to the rapid adoption of computer vision systems in the automotive and transportation industry. For instance, Image Sensing Systems, Inc., a provider of information management solutions, offers real-time traffic management solutions to the ITS (Intelligent Transportation Systems) sector.

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It also provides other transportation data solutions, including computer vision applications such as radar detection, wrong-way detection, and license plate recognition systems, among others.

The non-industrial segment also plays a significant role in the market, owing to the rapid adoption of a computer vision system for health monitoring and transmission purposes. Besides, in non-industrial verticals, the healthcare vertical has adopted computer vision technology rapidly for several applications, such as monitoring patients in nursing care, facial recognition for visually impaired users, and medical image analysis.

Major companies operating within the computer vision industry are Cognex, Basler, Omron, Keyence, National Instruments, Sony, Teledyne Technologies, Texas Instruments, Intel, and Baumer Optronic.

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Post COVID-19, the size of the global computer vision market trend is $10,813 million in 2021, and is projected to reach $41,117 million by 2030. One of the major computer vision market trends propelling the market growth is using computer vision tools and techniques to improve the monitoring of urban spaces and medical data used to diagnose COVID-19.

For instance, Numina has created a computer vision system that specializes in monitoring movement and traffic using video data. The tool enables a new form of monitoring, mainly measuring social distancing in cities such as New York. In China, computer vision was used extensively for monitoring people. While such technologies might be worrisome in the West in regard to privacy and state monitoring of people, there are some advantages.

• The study provides an in-depth analysis of the computer vision market growth along with the current trends and future estimations to elucidate imminent investment pockets.

• Information about key drivers, restraints, and opportunities and their impact analysis on the market size is provided in the report.

• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.

• The quantitative analysis of the computer vision market growth for the period 2020–2030 is provided to determine the market potential.

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