Computer vision technology gaining traction in key sectors

Market intelligence firm Tractica indicates that growth in the computer vision market will continue to be strong in the  security and surveillance, automotive, consumer, industrial, medical, and entertainment sectors in the coming years, and that 182.7 million computer vision-enabled devices will be shipped each year by 2019.

Aug 25th, 2015
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Seen on Benzinga:The commercialization of computer vision technology over the past few years has generated market opportunities in a variety of sectors. The strongest adoption to date has been in consumer electronics, robotics and machine vision for industrial applications, and automotive, but early-stage markets for computer vision also exist in healthcare, security and surveillance, and sports and entertainment.

Read full article on Benzinga.

Our take:

In the past few years, computer vision technology has generated market opportunities in a number of sectors, including security and surveillance, automotive, consumer, industrial, medical, and entertainment.

A recent report from market intelligence firm Tractica indicates that growth in the computer vision market will continue to be strong in all of these areas in the coming years, and that 182.7 million computer vision-enabled devices will be shipped each year by 2019.

"The degree to which computer vision technology is being adopted depends hugely on the application," said Anand Joshi, Tractica senior analyst. "Applications like gaming, automotive, and machine vision for industrial applications are leading the way where market traction is already occurring. Other applications, such as security and surveillance, are just starting to emerge."

Tractica's report, "Computer Vision Technologies and Markets," takes a look at market dynamics, technology issues, and business opportunities in computer vision, and offers a five-year forecast through 2019. The report predicts that the computer vision market will grow from $5.7 billion in 2014 to $33.3 billion by 2019 at a compound annual growth rate (CAGR) of 42%. The consumer segment will experience the highest growth rate, followed by robotics and machine vision. Key questions addressed in the report include:

  • How do computer vision applications and business models vary depending on the market being served?
  • What are the key technology issues surrounding computer vision, and why is it so hard to get a computer to recognize a picture just like humans?
  • Which application areas will be the fastest-growing markets for computer vision systems?
  • Who are the key players in the computer vision market, and what are their relative strengths and weaknesses?

Read more about the report in the Tractica executive summary.

- James Carroll, Senior Web Editor

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