Computer Vision Hardware, Software, and Services Market to Reach $26.2 Billion by 2025, According to Tractica

March 6, 2018

Leading Applications Will Include Video Surveillance, Autonomous Driving
and Navigation, Medical Image Analysis, Augmented Reality and Virtual
Reality, and Localization and Mapping, Among Others

BOULDER, Colo.–(BUSINESS WIRE)–#ai–The computer vision market continues to gain momentum, according to a
new report from Tractica.
Cameras in mobile devices and cameras added to consumer, commercial, and
industrial products are being leveraged. Artificial intelligence (AI)
based software algorithms for computer vision are improving rapidly.
Deep learning and convolutional neural networks (CNNs) are continuing to
evolve to leverage large amounts of visual information. Furthermore,
computer vision’s application to video, and not just static images, is
expanding its real-world utility.

Tractica forecasts that global revenue from computer vision software,
hardware, and services will grow from $1.1 billion in 2016 to $26.2
billion by 2025. The market intelligence firm expects that the growth in
computer vision will be driven by a wide range of industries and an
increasing diversity of applications. According to Tractica’s analysis,
the top 10 use cases for computer vision during the 2016-2025 forecast
period will be as follows:

  1. Video surveillance
  2. Machine/vehicular object detection/identification/avoidance
  3. Medical image analysis
  4. Augmented reality (AR)/virtual reality (VR) development
  5. Localization and mapping
  6. Converting paperwork into digital data
  7. Human emotion analysis
  8. Ad insertions into images and video
  9. Face recognition
  10. Real estate development optimization

“The computer vision market will include a mix of consumer-facing
applications like augmented reality and virtual reality, robots, drones,
and self-driving cars, along with business applications like medical
image analysis, video surveillance, real estate development
optimization, ad insertions, and converting paperwork into digital
data,” says research director Aditya Kaul. “While the consumer-facing
applications often generate more buzz, the big shift is that enterprises
are moving beyond data analytics to embrace AI-based business
applications that utilize computer vision capabilities.”

Tractica’s report, “Computer
Vision Technologies and Markets”, examines the market dynamics,
technology issues, and business opportunities surrounding computer
vision technologies and provides market forecasts for computer vision
hardware and software during the period from 2016 through 2025. 28
application markets are analyzed in depth, and 35 key industry players
are profiled. Market forecasts, segmented by world region and
application market, include hardware, software, and services revenue. An
Executive Summary of the report is available for free download on the
firm’s website.

About Tractica

Tractica is a market intelligence firm that focuses on human interaction
with technology. Tractica’s global market research and consulting
services combine qualitative and quantitative research methodologies to
provide a comprehensive view of the emerging market opportunities
surrounding Artificial Intelligence, Robotics, User Interface
Technologies, Wearable Devices, and Digital Health. For more
information, visit www.tractica.com
or call +1.303.248.3000.

Contacts

Tractica
Clint Wheelock, +1-303-248-3000
[email protected]

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