Computer Vision Market Report Scope & Overview:

Computer Vision Market Size was valued at USD 16.45 Billion in 2023 and is expected to reach USD 70.1 Billion by 2031 and grow at a CAGR of 19.85 % over the forecast period 2024-2031.

AI-based inspection and testing models, vision-guided robotic systems, and computer vision in various industries is poised for significant growth of The Computer Vision market. Factors such as quality inspection demands, advancements in image sensors and deep learning methods, and the surge in computer vision applications across sectors like healthcare, retail, and manufacturing are driving this growth. While the market benefits from increased processing power and accuracy, challenges like skilled workforce requirements and data privacy concerns persist. However, the expanding use of computer vision in non-industrial sectors and ongoing advancements present lucrative opportunities for market growth. An example is the collaboration between TachyHealth and Medical Refill, combining AI, computer vision, and big data analytics for enhanced medical solutions.

Computer Vision Market Revenue Analysis

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AI with computer vision technology is becoming increasingly popular in a variety of applications, including computer vision solutions in consumer drones and autonomous and semi-autonomous cars.

Market Dynamics


  • Increasing need for quality inspection and automation

  • Development of AI-based inspection and testing models

  • Rising demand for vision-guided robotic systems

  • Growing application of computer vision in various industries such as healthcare, retail, and manufacturing

  • Advancements in image sensors, sophisticated cameras, and deep learning methods

  • Economic advantages of computer vision systems such as increased processing power and accuracy

The Computer Vision Market is Driven by an Growing requirement for quality inspection and automation across industries. This is driving the development of AI-based inspection and testing models, which offer greater accuracy and efficiency compared to traditional methods. There’s a growing demand for vision-guided robotic systems that leverage computer vision technology to navigate and perform tasks autonomously, driving the market's expansion and innovation.


  • Intense requirement for highly skilled and experienced professionals

  • Concerns regarding user data privacy and safety

  • Challenges in integrating computer vision technologies into existing systems


  • Growing application of computer vision in non-industrial sectors

  • Advancements in the field of computer vision and AI

  • Collaborations and partnerships between companies to enhance technological solutions.

  • Industry 4.0 is becoming more popular.

  • Artificial Intelligence (AI) in Computer Vision is in high demand.

The Computer vision's application is diversifying beyond industries into healthcare, retail, and security domains. Progress in AI and computer vision fuels innovation, creating refined and precise solutions. Collaborations among companies drive enhanced technological development, harnessing combined expertise to expand computer vision's capabilities across sectors. These trends fuel the rapid growth of the computer vision market, creating new prospects and fostering adoption across diverse industries and applications.


  • Ensuring data privacy and security in computer vision systems

  • Addressing the need for continuous innovation to stay competitive.

  • Overcoming regulatory challenges and compliance issues

  • Managing the complexity of integrating computer vision with other emerging technologies

Impact of Russia-Ukraine War:

The Russia-Ukraine war has had several impacts on the computer vision market. The disrupted supply chain for critical components such as processors, cameras, and sensors, leading to potential shortages and price increases. the geopolitical uncertainty has results hesitancy among businesses to invest in new technologies, including computer vision systems. the conflict has also affected research and development collaborations between companies in Russia, Ukraine, and other countries, impacting innovation in the field. the war has introduced challenges and uncertainties that may temporarily slow down the growth of the computer vision market.

Impact of Economic Downturn:

An economic downturn can significantly impact on the Computer Vision Market in several ways. The businesses may cut back on investments in advanced technologies like computer vision due to budget constraints, leading to slower market growth. reduced consumer spending can affect industries that heavily rely on computer vision applications, such as retail and manufacturing, resulting in decreased demand for related solutions. the uncertainty and volatility during economic downturns may lead to postponed or canceled projects involving computer vision, further affecting market dynamics and revenue streams for vendors in this space.

Market segmentation

By Component

  • Hardware

  • Software

On the basis of component, the hardware segment dominated the market with a holding revenue share of more than 68 %, encompassing processors, cameras, lenses, and lighting components. This leadership is due to advanced hardware platforms offering fast processing, high resolutions, and versatile networking architectures, easing vision system installations. For instance, VisualCortex Pty Ltd partnered with i-PRO to enhance video analytics systems in Asia Pacific using hardware components like cameras and edge devices. On the other hand, the software segment is poised for the highest CAGR, facilitating optimal identification and inspection through tasks like image classification and object tracking. However, resource and computing limitations may challenge software development, prompting tech giants to address these constraints for computer vision software advancement.

By Product Type

  • Smart Camera-Based Computer Vision System

  • PC-Based Computer Vision System

By Application

  • Quality Assurance & Inspection

  • Positioning & Guidance

  • Measurement

  • Identification

  • Predictive Maintenance

  • 3D Visualization & Interactive 3D Modelling

On the basis of application, the quality assurance and inspection sector dominate the market with a holding share of more than 25%. Quality assurance, a vital aspect of quality management, ensures fulfilment of quality requirements internally to management and externally to customers, regulators, and certifiers. This dominance is driven by rapid process automation adoption in manufacturing, enhancing productivity. Computer vision, with deep learning, automates inspections across the manufacturing line, boosting efficiency. The 3D visualization and interactive 3D modelling segment is expected to grow at the fastest CAGR, alongside significant growth anticipated in predictive maintenance. Predictive maintenance, integrating machine learning and IoT devices, monitors machinery data to anticipate breakdowns, using sensors for data collection and signal analysis for timely decision-making.

By Vertical

  • Industrial

  • Non-Industrial

Regional Analysis

The North America region dominates the market with holding revenue share of more than 38%, due to extensive IoT deployments, robust IT infrastructure, and expanding computer vision applications across sectors like healthcare and retail. Asia Pacific is expected to witness the highest CAGR, driven by increasing use cases in automotive and manufacturing for safety and automation. Government initiatives and industry investments are key factors fueling market growth in this region. Europe, with its strong industrial base and early adoption in manufacturing and automotive sectors, is anticipated to show steady growth, particularly in leading markets like Germany and the U.K.


North America

  • US

  • Canada

  • Mexico


  • Eastern Europe

    • Poland

    • Romania

    • Hungary

    • Turkey

    • Rest of Eastern Europe

  • Western Europe

    • Germany

    • France

    • UK

    • Italy

    • Spain

    • Netherlands

    • Switzerland

    • Austria

    • Rest of Western Europe

Asia Pacific

  • China

  • India

  • Japan

  • South Korea

  • Vietnam

  • Singapore

  • Australia

  • Rest of Asia Pacific

Middle East & Africa

  • Middle East

    • UAE

    • Egypt

    • Saudi Arabia

    • Qatar

    • Rest of the Middle East

  • Africa

    • Nigeria

    • South Africa

    • Rest of Africa

Latin America

  • Brazil

  • Argentina

  • Colombia

  • Rest of Latin America

Key Players

The major key players are CognexBasler Omron, Keyence, National Instruments, Sony, Teledyne Technologies, Texas Instruments, Intel, Baumer Optronic, MediaTek, Inc., and other players mentioned in the final report.

Texas Instruments -Company Financial Analysis

Company Landscape Analysis

Recent Development:

  • In October 2023, Remark Holdings, Inc., a leading AI-powered video analytics provider, made an exciting announcement regarding a new partnership with Arrow Electronics and Intel. This collaboration is set to significantly expand their customer base, reaching over 200,000 clients. The partnership will involve the provision of Intel-based AI servers running Remark's cutting-edge Smart Safety Platform (SSP), which will be responsible for enhancing warehousing, sales, and logistics support.

  • In August 2023, TechSee revealed a groundbreaking integration with Amazon Web Services to support Amazon Connect. This integration is designed to revolutionize customer service by incorporating artificial intelligence and an augmented reality platform, resulting in improved service quality at reduced costs.

  • In August 2023, Amazon introduced a new shelf monitoring solution for sellers aimed at ensuring the delivery of high-quality fresh food products. This innovative solution enables sellers to meet the growing consumer demand for top-notch fresh fruits and vegetables when shopping on Amazon Fresh.

  • NVIDIA made waves in August 2023 with the launch of the NVIDIA Omniverse platform. This platform offers a range of foundational services and applications for developers and industrial enterprises, allowing them to enhance and expand their 3D pipelines using the OpenUSD framework and generative AI. By embracing this platform, developers can enhance their tools, while companies can create larger, more intricate global simulations to serve as digital testbeds for industrial applications.

Computer Vision Market Report Scope:

Report Attributes Details
 Market Size in 2023  US$ 16.45 Bn
 Market Size by 2031  US$ 70.1 Bn
 CAGR   CAGR of 19.85 % From 2024 to 2031
 Base Year  2022
 Forecast Period  2024-2031
 Historical Data  2020-2021
 Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
 Key Segments • By Component (Hardware And Software)
• By Product Type (Smart Camera-Based Computer Vision System And PC-Based Computer Vision System)
• By Application (Quality Assurance & Inspection, Positioning & Guidance, Measurement, Identification, Predictive Maintenance, 3D Visualization & Interactive 3D Modelling)
• By Vertical (Industrial And Non-Industrial)
 Regional Analysis/Coverage North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
 Company Profiles Cognex, Basler Omron, Keyence, National Instruments, Sony, Teledyne Technologies, Texas, Instruments, Intel, Baumer Optronic
 Key Drivers • Increasing need for quality inspection and automation

• Development of AI-based inspection and testing models

• Rising demand for vision-guided robotic systems

• Growing application of computer vision in various industries such as healthcare, retail, and manufacturing

 Market Opportunity • Growing application of computer vision in non-industrial sectors

•  Advancements in the field of computer vision and AI

•  Collaborations and partnerships between companies to enhance technological solutions.

•  Industry 4.0 is becoming more popular


Frequently Asked Questions

Ans. The Compound Annual Growth rate for the Computer Vision Market over the forecast period is 19.85 %.

Ans. The projected market size for the Computer Vision Market is USD 70.1 billion by 2031. 

Ans: The Hardware component segment dominated the Computer Vision Market.

 Ans: North America region is dominant in Computer Vision Market.


•    Growing application of computer vision in non-industrial sectors

•    Advancements in the field of computer vision and AI

•    Collaborations and partnerships between companies to enhance technological solutions.



1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions


2. Industry Flowchart


3. Research Methodology


4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges


5. Impact Analysis

5.1 Impact of Russia-Ukraine Crisis

5.2 Impact of Economic Slowdown on Major Countries

5.2.1 Introduction

5.2.2 United States

5.2.3 Canada

5.2.4 Germany

5.2.5 France

5.2.6 UK

5.2.7 China

5.2.8 Japan

5.2.9 South Korea

5.2.9 India


6. Value Chain Analysis


7. Porter’s 5 Forces Model


8.  Pest Analysis


9. Computer Vision Market, By Component

9.1 Introduction

9.2 Trend Analysis

9.3 Hardware

9.4 Software


10. Computer Vision Market, By Product type

10.1 Introduction

10.2 Trend Analysis

10.3 Smart Camera-Based Computer Vision System

10.4 PC-Based Computer Vision System


11. Computer Vision Market, By application

11.1 Introduction

11.2 Trend Analysis

11.3 Quality Assurance & Inspection

11.4 Positioning & Guidance

11.5 Measurement

11.6 Identification

11.7 Predictive Maintenance

11.8 3D Visualization & Interactive 3D Modelling


12. Computer Vision Market, By Vertical

12.1 Introduction

12.2 Trend Analysis

12.3 Industrial

12.4 Non-Industrial


13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Eastern Europe Poland Romania Hungary Turkey Rest of Eastern Europe

13.3.2 Western Europe Germany France UK Italy Spain Netherlands Switzerland Austria Rest of Western Europe

13.4 Asia-Pacific

13.4.1 China

13.4.2 India

13.4.3 Japan

13.4.4 South Korea

13.4.5 Vietnam

13.4.6 Singapore

13.4.7 Australia

13.4.8 Rest of Asia Pacific

13.5 The Middle East & Africa

13.5.1 Middle East UAE Egypt Saudi Arabia Qatar Rest of the Middle East

13.5.2 Africa Nigeria South Africa Rest of Africa

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Colombia

13.6.4 Rest of Latin America


14. Company Profiles

14.1 Cognex

14.1.1 Company Overview

14.1.2 Financials

14.1.3 Products/ Services Offered

14.1.4 SWOT Analysis

14.1.5 The SNS View

14.2 Basler Omron

14.2.1 Company Overview

14.2.2 Financials

14.2.3 Products/ Services Offered

14.2.4 SWOT Analysis

14.2.5 The SNS View

14.3 Keyence.

14.3.1 Company Overview

14.3.2 Financials

14.3.3 Products/ Services Offered

14.3.4 SWOT Analysis

14.3.5 The SNS View

14.4 National Instruments

14.4 Company Overview

14.4.2 Financials

14.4.3 Products/ Services Offered

14.4.4 SWOT Analysis

14.4.5 The SNS View

14.5 Sony.

14.5.1 Company Overview

14.5.2 Financials

14.5.3 Products/ Services Offered

14.5.4 SWOT Analysis

14.5.5 The SNS View

14.6 Teledyne Technologies

14.6.1 Company Overview

14.6.2 Financials

14.6.3 Products/ Services Offered

14.6.4 SWOT Analysis

14.6.5 The SNS View

14.7 Texas Instruments

14.7.1 Company Overview

14.7.2 Financials

14.7.3 Products/ Services Offered

14.7.4 SWOT Analysis

14.7.5 The SNS View

14.8 Intel

14.8.1 Company Overview

14.8.2 Financials

14.8.3 Products/ Services Offered

14.8.4 SWOT Analysis

14.8.5 The SNS View

14.9 Baumer Optronic.

14.9.1 Company Overview

14.9.2 Financials

14.9.3 Products/ Services Offered

14.9.4 SWOT Analysis

14.9.5 The SNS View

14.9 Telekom AG

14.9.1 Company Overview

14.9.2 Financials

14.9.3 Products/ Services Offered

14.9.4 SWOT Analysis

14.9.5 The SNS View

14.10 MediaTek, Inc.

14.10.1 Company Overview

14.10.2 Financials

14.10.3 Products/ Services Offered

14.10.4 SWOT Analysis

14.10.5 The SNS View


15. Competitive Landscape

15.1 Competitive Benchmarking

15.2 Market Share Analysis

15.3 Recent Developments

15.3.1 Industry News

15.3.2 Company News

15.3.3 Mergers & Acquisitions


16. USE Cases and Best Practices


17. Conclusion

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Secondary Research

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Primary Research

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Data Bank Validation

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