The Asia Pacific Computer Vision Market would witness market growth of 10.5% CAGR during the forecast period (2020-2026). Computer vision (CV) has been more commercialized in the last few years. It is deployed in a varied range of applications. A few years ago, a new concept of proofs-of-concept had started that are now going to be introduced in production. This is resulting in creating a new set of problems thereby providing opportunities for another group of start-ups. Some of the factors that enable the rapid global adoption of CV include falling price of hardware, the swift growth of technology, accurate results, and ease of connectivity.
The automotive industry is showing a paradigm shift to AI-powered self-driving cars from the human-driven conventional vehicles. The computer vision systems application in self-driving cars is likely to boost the growth of the market of computer vision, due to the growing need for decision-making ability. Self-driving vehicles are well-equipped and provided with LiDAR sensors and ultrasonic to identify other cars, obstacles, and sign-posts. Moreover, these vehicles are fitted with cameras that provide computer vision to compute steering angles, read road-signs, and help make critical on-road decisions, like giving way to ambulances and fire engines.
The manufacturing industry is facing the most widespread use of automation and robotics. Since the manufacturing facilities are shifting towards fully-automated manufacturing, that’s why it requires more intelligent systems that can monitor industrial processes. While the introduction of the Internet of Things (IoT) is also bringing a revolution in the manufacturing sector and it is resulting in making industrial operations more autonomous. Computer vision also assists in improving the manufacturing sector in the form of machine vision. For example, machine vision is beneficial for quality inspection of the products by detecting non-conformities and defects.
Based on Product Type, the market is segmented into PC-Based and Smart Camera-Based. Based on Component, the market is segmented into Hardware and Software. Based on Application, the market is segmented into Quality Assurance & Inspection, Measurement, Identification, Predictive Maintenance, Positioning & Guidance and 3D Visualization & Interactive 3D Modeling. Based on Vertical, the market is segmented into Industrial and Non-Industrial. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: Computer Vision Market in Asia Pacific is expected to register a CAGR of 10.5% during the forecast period (2020-2026)
The market research report covers theanalysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, Sony Corporation, Texas Instruments, Inc., National Instruments Corporation, Omron Corporation, Basler AG, Cognex Corporation, Keyence Corporation, TKH Group NV, and Matterport, Inc.
Market Segmentation:
By Product Type
By Component
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Companies Profiled
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