Computer Vision Market Size Worth USD 22.76 Billion in 2032 | Emergen Research

VANCOUVER, B.C., March 9, 2023 /PRNewswire/ — The Computer Vision market size reached USD 11.90 Billion in 2022 and is expected to register a CAGR of 6.7% during the forecast period, according to the latest analysis by Emergen Research. The increasing demand for automation across industries, advancements in artificial intelligence and machine learning, and the growing need for surveillance and security systems are some key factors driving the growth of the Computer Vision market. 

The integration of computer vision technology in various applications, such as autonomous vehicles, industrial automation, and healthcare, is expected to fuel the growth of the market. The demand for automated solutions in manufacturing and logistics is driving the adoption of computer vision technology to enhance operational efficiency, minimize errors, and reduce costs.

Governments across the globe are also investing in the development and implementation of computer vision technology for surveillance and security purposes. The technology is being utilized for real-time monitoring of public places, detecting criminal activities, and identifying potential security threats. For instance, the Chinese government has deployed millions of surveillance cameras that use computer vision technology to monitor citizens in public spaces.

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Drivers:

The growing demand for autonomous vehicles and advancements in artificial intelligence and machine learning are expected to drive the growth of the Computer Vision market. Computer vision technology is essential in the development of self-driving cars and drones as it enables them to perceive and interpret their environment accurately.

The healthcare industry is also adopting computer vision technology for various applications such as medical imaging and diagnostics. The technology is being used to analyze medical images, detect diseases, and identify abnormalities.

The retail industry is also leveraging computer vision technology to enhance customer experience and optimize operations. The technology is being used to track…