Published by news degree
Posted on August 3, 2021
The Global Computer Vision System market is forecast to reach USD 25.69 Billion by 2028, according to a new report by Reports and Data. The Computer Vision System market is witnessing continuous growth in the recent year that has been primarily driven by significant advancements in the information and communication technology sector. The constant emphasis on R&D in the industry has resulted in developments like artificial learning, and machine learning, which is opening new avenues for the application of computer vision systems. Such expansion in areas of application is positively impacting the growth of the market. The growth of the industry has also been driven by increased demand for computer vision systems for industrial applications like in the automotive industry as well as non- industrial sectors such as healthcare sector.
Apart from the factors mentioned above, one of the essential traits of the computer vision system is high accuracy, which is also contributing to the expansion of the market. The mentioned trait of computer vision system results in its increased application for diverse operations ranging from identification to quality assurance & inspection in various industrial as well as non-industrial functioning. The high utility of computer vision system is also boosting the growth of the market. Increased investments and continuous emphasis on product developments by key players of the market is also contributing to its growth. One of such mentionable market developments were made by Keyence, a key player of the market in 2017, which introduced the 3D vision system that presented point-and-click tools to measure 3D objects. Such advancements in the market have a positive impact on it.
In regards to region, Asia Pacific is forecasted to experience the highest growth rate. The increase in investments in R&D activities, continuous advancements in computer vision systems, and rise in start-ups in the region is contributing to its growth rate.
Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/1558
Key participants include
Basler, Keyence, Cognex, Omron, Texas Instruments, Cognex, Teledyne Technologies, Sony, Intel, National Instruments, and Mvtec Software.
Further key findings from the report suggest
The Computer Vision System market held a market share of USD 11.35 Billion in the year 2020 with a growth rate of 10.8% during the forecast period.
In regards to Product, the PC-Based Computer Vision Systems segment generated the highest revenue of USD 5.63 Billion in 2020 with a CAGR of 10.3% during the forecast period. Its more extensive use as compared to Smart Cameras-Based Computer Vision Systems, along with advantages like flexibility with the choices of software, has contributed to the revenue generated by this segment.
In context to Component, the Hardware segment is forecasted to generate a higher revenue of USD 13 Billion by 2028 with a growth rate of 10.1% during the forecast period. Factors contributing to the revenue generated by the segment are the affordability of semiconductor devices and its high availability.
In regards to Application, Predictive Maintenance segment is forecasted to witness the highest growth rate of 13.5% during the forecast period that yielded USD 1.21 Billion in 2020. The growth rate of the segment is the result of advancements in artificial intelligence technologies, information, and communication technology, and its incorporation in various industries like the automotive sector. The expansion of these sectors is increasing the demand for predictive maintenance application and contributing to the segment’s growth.
While discussing Application, Identification segment yielded the highest revenue of USD 3.12 Billion in 2020 with a CAGR of 11.1% during the forecast. The revenue generated by the segment is the result of increased demand for services like face recognition and need for limited devices for performing successful identification process.
In regards to end-user, the automotive segment occupied the largest market share of 38.0% in 2020 with a CAGR of 11.1% during the forecast period. The market share held by this segment is the result of an increased need for automation in the automotive industry, for assembling vehicles. The need for increased automation has resulted in its incorporation of computer vision systems at a significant rate, contributing to the segment’s market share.
In regards to region, Asia Pacific is forecasted to witness the highest growth rate of 12.2% during the forecast period. The growth rate of the region is the result of continuous advancements in computer vision systems, a rise in the number of start-ups, and the increase in investments in R&D activities in the region.
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For this report, Reports and Data have segmented into the global Computer Vision System market on the basis of resin type, composite phases, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2020-2028)
Smart Cameras-Based Computer Vision Systems
PC-Based Computer Vision Systems
Component type Outlook (Revenue, USD Billion; 2020-2028)
Hardware
Software
Application Type Outlook (Revenue, USD Billion; 2020-2028)
Positioning & Guidance
Quality Assurance & Inspection
Identification
Measurement
Predictive Maintenance
End-user Type Outlook (Revenue, USD Billion; 2020-2028)
Automotive
Healthcare
Electronics & Semiconductor
Food & Packaging
Others
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/1558
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
The post Computer Vision System Market Size, Industry & Landscape Outlook, Revenue Growth Analysis to 2028 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
The Global Computer Vision System market is forecast to reach USD 25.69 Billion by 2028, according to a new report by Reports and Data. The Computer Vision System market is witnessing continuous growth in the recent year that has been primarily driven by significant advancements in the information and communication technology sector. The constant emphasis on R&D in the industry has resulted in developments like artificial learning, and machine learning, which is opening new avenues for the application of computer vision systems. Such expansion in areas of application is positively impacting the growth of the market. The growth of the industry has also been driven by increased demand for computer vision systems for industrial applications like in the automotive industry as well as non- industrial sectors such as healthcare sector.
Apart from the factors mentioned above, one of the essential traits of the computer vision system is high accuracy, which is also contributing to the expansion of the market. The mentioned trait of computer vision system results in its increased application for diverse operations ranging from identification to quality assurance & inspection in various industrial as well as non-industrial functioning. The high utility of computer vision system is also boosting the growth of the market. Increased investments and continuous emphasis on product developments by key players of the market is also contributing to its growth. One of such mentionable market developments were made by Keyence, a key player of the market in 2017, which introduced the 3D vision system that presented point-and-click tools to measure 3D objects. Such advancements in the market have a positive impact on it.
In regards to region, Asia Pacific is forecasted to experience the highest growth rate. The increase in investments in R&D activities, continuous advancements in computer vision systems, and rise in start-ups in the region is contributing to its growth rate.
Access Free sample PDF Copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/1558
Key participants include
Basler, Keyence, Cognex, Omron, Texas Instruments, Cognex, Teledyne Technologies, Sony, Intel, National Instruments, and Mvtec Software.
Further key findings from the report suggest
The Computer Vision System market held a market share of USD 11.35 Billion in the year 2020 with a growth rate of 10.8% during the forecast period.
In regards to Product, the PC-Based Computer Vision Systems segment generated the highest revenue of USD 5.63 Billion in 2020 with a CAGR of 10.3% during the forecast period. Its more extensive use as compared to Smart Cameras-Based Computer Vision Systems, along with advantages like flexibility with the choices of software, has contributed to the revenue generated by this segment.
In context to Component, the Hardware segment is forecasted to generate a higher revenue of USD 13 Billion by 2028 with a growth rate of 10.1% during the forecast period. Factors contributing to the revenue generated by the segment are the affordability of semiconductor devices and its high availability.
In regards to Application, Predictive Maintenance segment is forecasted to witness the highest growth rate of 13.5% during the forecast period that yielded USD 1.21 Billion in 2020. The growth rate of the segment is the result of advancements in artificial intelligence technologies, information, and communication technology, and its incorporation in various industries like the automotive sector. The expansion of these sectors is increasing the demand for predictive maintenance application and contributing to the segment’s growth.
While discussing Application, Identification segment yielded the highest revenue of USD 3.12 Billion in 2020 with a CAGR of 11.1% during the forecast. The revenue generated by the segment is the result of increased demand for services like face recognition and need for limited devices for performing successful identification process.
In regards to end-user, the automotive segment occupied the largest market share of 38.0% in 2020 with a CAGR of 11.1% during the forecast period. The market share held by this segment is the result of an increased need for automation in the automotive industry, for assembling vehicles. The need for increased automation has resulted in its incorporation of computer vision systems at a significant rate, contributing to the segment’s market share.
In regards to region, Asia Pacific is forecasted to witness the highest growth rate of 12.2% during the forecast period. The growth rate of the region is the result of continuous advancements in computer vision systems, a rise in the number of start-ups, and the increase in investments in R&D activities in the region.
Request for Custom Research @ https://www.reportsanddata.com/request-customization-form/1558
For this report, Reports and Data have segmented into the global Computer Vision System market on the basis of resin type, composite phases, industry vertical, and region:
Product Type Outlook (Revenue, USD Billion; 2020-2028)
Smart Cameras-Based Computer Vision Systems
PC-Based Computer Vision Systems
Component type Outlook (Revenue, USD Billion; 2020-2028)
Hardware
Software
Application Type Outlook (Revenue, USD Billion; 2020-2028)
Positioning & Guidance
Quality Assurance & Inspection
Identification
Measurement
Predictive Maintenance
End-user Type Outlook (Revenue, USD Billion; 2020-2028)
Automotive
Healthcare
Electronics & Semiconductor
Food & Packaging
Others
Regional Outlook (Volume, Kilo Tons; 2018-2028 and Revenue, USD Million; 2018-2028)
Buy now your Exclusive copy of Report @ https://www.reportsanddata.com/checkout-form/1558
Have a Look at Related Reports:
Satellite Cameras Market Size, Trends & Analysis, By Product Type (Large Satellite, Mini Satellite, Micro Satellite, Nano Satellite), By Application (Scientific Research, Earth Observation, Remote Sensing, Communication, Others), By End User (Commercial, Civil, Government, Military & Defence, Others), By Region, Forecasts To 2027
Thermal Imaging Market Research Report – Global Industry Data by Product Type (Thermal Cameras, Thermal Scopes, Thermal Modules), Application, Industry Vertical (Residential, Commercial, Industrial, Automotive, Aerospace and Defense, Oil and Gas): Forecast To 2027
RegTech Market Size, Share & Growth, By Organization Size (Small & Medium-Sized Enterprises, Large Enterprises), By Deployment Model (On-Premise Deployment, Cloud-Based Deployment), By Application (Risk & Compliance Management, Identity Management, Regulatory Reporting, Fraud Management, Regulatory Intelligence), And Segment Forecasts, 2017-2027
Web Real-Time Communication Market Size, Share And Industry Analysis By Component (Solution, Services), By Device (Mobile, Desktop, Tablet, Others), By Industry Vertical (BFSI, IT & Telecom, Government, Retail, Manufacturing, Healthcare, Media & Entertainment, Others) And Region, Segment Forecasts To 2027
Data Catalog Market Analysis, By Data Consumer (Business Intelligence Tools, Data Integration Tools), By Deployment Mode, By Component (Standalone Solution, Integrated Solution), By Organization Size, By End-Use Verticals (BFSI, Retail & E-Commerce), Forecasts To 2027
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Contact Us:
John W
Head of Business Development
Reports and Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs
The post Computer Vision System Market Size, Industry & Landscape Outlook, Revenue Growth Analysis to 2028 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
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