Computer Vision - Worldwide

The applications for computer vision have expanded in recent years. The rapid advancement of deep learning techniques to improve the accuracy and performance of visual recognition tasks is one trend that is shaping the market. Another is the integration of computer vision with other emerging technologies such as augmented reality (AR) and virtual reality (VR) to enable immersive and interactive visual experiences. Lastly, there is a growing focus on developing computer vision models that are more robust, efficient, and capable of handling large-scale datasets and real-time processing; developments in this area are paving the way for applications in autonomous vehicles, robotics, surveillance systems, and healthcare imaging.

The growth of the computer vision market is primarily driven by the increasing demand for automation and artificial intelligence-based solutions in various industries. With the rise of Industry 4.0 and the growing need for efficient and accurate object detection, the demand for computer vision technology is only expected to increase. The development of deep learning algorithms and the increasing use of cloud-based solutions for computer vision are also expected to drive growth in the market. Moreover, the growing adoption of computer vision technology in emerging economies is expected to create significant growth opportunities for market players.

The Computer Vision market is expected to witness significant growth in the coming years. The market is expected to grow at a CAGR of 12.6% during the forecast period.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.