The Latin America, Middle East and Africa Computer Vision Market would witness market growth of 11.5% CAGR during the forecast period (2020-2026). Computer Vision is the initiative of automating and incorporating an extensive range of processes and representations that are used for visual perception. It comprises many techniques such as image processing (encoding, transforming, and transmitting images) and classification of statistical pattern that means statistical decision theory applied generally to general patterns, and visual. The current trend of 3D imaging and automation in the major industries will lead the market for computer vision to grow at a high rate in the coming years. Furthermore, strictness in inspection and quality assurance of industrial products and the growing scope of vision-guided robotic systems are the factors that are contributing to driving the computer vision market globally. On the other hand, the existence of selective and diverse end-user requirements and less penetration of computer vision in some industries are the factors that are hindering a high rate growth of the market.
Previously, vision systems were acquainted within the automotive industry for the purpose of automation in assembling vehicles. For example, Image Sensing Systems, Inc., is a provider of information management solutions. It offers real-time traffic management solutions in the sector of Intelligent Transportation Systems (ITS). It also offers other transportation data solutions, such as wrong-way detection, radar detection, and license plate recognition systems. Other industrial verticals for computer vision systems consist of pharmaceuticals, food and packaging, consumer electronics, rubber and plastics, and machinery that are involved in machine vision applications. The adoption of vision systems in industrial verticals contains barcodes reading, food and packaging, product’s component assembly, and defect reduction.
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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: Computer Vision Market in LAMEA is expected to register a CAGR of 11.5% 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
By Application
By Vertical
By Country
Companies Profiled
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