The computer vision market is on an exciting curve, and many experts in the industry are convinced that, the market remains ripe for innovation and open to the emergence of new applications as well as new industry participants. Consumer awareness and enthusiasm for computer vision-based applications continue to grow.
One can observe that, Computer vision technology is capturing the
attention of a diverse set of industry participants, and the market is gaining
momentum across several key application areas.
Tractica reveals that, device manufacturers, semiconductor and
component companies, and software developers have all made significant
investments in technology development. Many companies have demonstrated
prototypes and a few have moved into full production mode.
According to a new report from Tractica, the global market for computer vision hardware
and software will increase from $6.6 billion in 2015 to $48.6 billion annually
by 2022, at a compound annual growth rate (CAGR) of 32.9%.
The firm anticipates that approximately three-quarters of the revenue
opportunity during that period will derive from hardware, with the balance of
the revenue coming from computer vision software and services.
Other application markets will include security & surveillance, medical, sports
& entertainment, retail, and agriculture.