Westford, USA, Aug. 04, 2022 (GLOBE NEWSWIRE) -- Computer vision market has seen a rapid increase in popularity recently, with businesses and consumers alike turning to the technology for a number of applications. Some of the most common uses for computer vision include recognizing objects, identifying faces, and tracking vehicles. As computer vision becomes more prevalent, there is an increasing need for developers who can build and maintain these applications. This is where the computer vision workforce comes in; skilled professionals who can design algorithms, develop software, and deploy computer vision solutions.
According to SkyQuest, the global computer vision workforce will grow from 190,000 in 2016 to almost 485,000 by the end of 2023. This growth is due in part to the growing demand for applications such as facial recognition and autonomous driving.
Thanks to advancements in digital photography and video processing, businesses and individuals are increasingly turning to computer vision technology to improve their productivity. This field of study deals with the application of artificial intelligence algorithms to image or video data in order to make decision or create new products or services.
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Start-ups in Computer Vision Market are Poured with Funding
Global computer vision market is booming. With the development of autonomous cars, Internet of things, and medical devices, demand for computer vision technology is on the rise. However, funding for computer vision companies can be difficult to come by. This is due in part to the complex and abstract nature of the field. Additionally, the technology is still in its early stages and does not have a widespread consumer uptake.
Fortunately, there are a number of sources of funding for computer vision startups. Investors can provide funds either through Angel investing or venture capital. In addition, governments and universities are also active in funding computer vision research.
In 2021, the global computer vision market witnessed influx of around $21.1 billion in fundings as per SkyQuest study. The huge investment was spanned across 900+ companies. Globally, more than 1,700 start-ups are active in the global computer vision market. Wherein, these start-ups raised around half of the funding in just last 3 years.
In the last few years, Techstars, Y Combinator, Plug and Play Tech Center, Deep Learning, and Venture Kick remained the largest investors in the computer vision market. Following are some of the key investments in the global computer vision market:
- In July 2022, Drover AI through Series A funding raised over $5.4 million
- In July 2022, Ensuredit raised over $4.2 million
- In July 2022, Theator raised over $39.5 million in series A funding. Wherein, the company had initially raised over $15.5 million, but secured another funding of around $24 million in extended round
- In July 2022, The Brisbane company raised around $1.5 million in early-stage funding
- In July 2022, Lyro Robotics secured funding to build 20 more robots integrated with computer vision
SkyQuest has published a report that provides a detailed insights into global computer vision market. The report covers in depth analysis of the influx of funding being raised by the start-ups and inclination of investors towards the computer vision. The report would help you identify where the market is leading and what start-up are doing with the money that they have raised. The report also focuses on future prospective of the start-up environment.
Top 5 Trends in Computer Vision Market
- Deep Learning
- 3D reconstruction
- Image segmentation
- Object Detection
- Motion Estimation
Computer Vision has Potential to Make Urban Transportation More Efficient and Sustainable
Urban transportation is vexingly frustrating, time-consuming, and expensive. But with the help of computer vision, there is potential to make it more efficient and sustainable.
One example is using computer vision to optimize route selection for buses or bikes. By better understanding where pedestrians and cyclists are located, buses and bikes can travel through dense traffic more quickly and without wasting time waiting in line. This could make a big difference in cutting down on transportation delays, which would also save people money on their commute in the global computer vision market.
Computer vision can also be used to monitor traffic conditions on a wider scale. If a person sees an area near a bus stop becoming congested, they could send out a notification to the bus driver so that the bus can avoid that area. By optimizing traffic flows on an individual level, we can tackle larger issues such as congestion on major streets.
All of these applications of computer vision market have the potential to make urban transportation more efficient and sustainable. By looking at transportation from a different perspective, we may be able to make it easier for people to get around town without wasting time or money.
One company, Citymapper, is using computer vision to identify pedestrians and cyclists in city streets. This information is used to create digital maps of the city that show where people are located at any given time. The digital maps are then used to calculate how much traffic is flowing around each street, and this information is used to modify traffic signals accordingly. This system has already resulted in significant reductions in traffic congestion in some cities, and it is expected to play a similar role in other cities in the future.
Similarly, Google has developed an algorithm called Street View that captures images of city streets from orbit. This data is then used to create 3-D models of the city that can be used for navigation purposes or for planning road repairs. Street View has also been used to generate detailed maps of major Olympic venues, such as the Olympic Stadium in London.
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Demand for Computer Vision is on the Rise in AR and VR
A lot has changed in the world of computer vision market over the past few years. With the introduction of virtual reality and its growing popularity, there is an increasing need for accurate and efficient methods of recognition and analysis. By leveraging this technology, developers can create truly immersive and exciting experiences for users.
One such application is facial recognition. In VR, users are already accustomed to being surrounded by other people. Requiring them to look at a computer screen to input information can be jarring and frustrating. Facial recognition solves this problem by allowing users to interact with software without having to look away from their surroundings.
Starbreeze Studios, a player in computer vision market, has been using facial recognition in its own VR games such as Dead by Daylight and Surviving Mars. The company was recently acquired by Warner Bros., which indicates that the technology is likely to become more prevalent in the near future.
With so many potentials use for computer vision in VR, developers are currently racing to develop innovative ways to apply the technology. There are still many breakthroughs left to be made, but this field is poised for explosive growth in the coming years.
In addition, the report provides complete market analysis, market dynamics, market trends, growth forecast, pricing analysis, competitive landscape, market share analysis.
What Does Future Holds for Computer Vision Market?
The market for computer vision is expanding tremendously, with new products and services being developed every day. This trend is likely to continue in the coming years, as businesses around the world begin to realize the value of artificial intelligence (AI) and machine learning (ML).
One of the most important aspects of AI is understanding what people are doing. This is where computer vision comes in. Computer vision can be used to track objects and people as they move around a scene, capturing detailed information about their surroundings. This information can then be used to generate 3D models, which can be used for a variety of applications.
As this computer vision market continues to grow, so too will the number of companies that are able to use computer vision technology. This will lead to more innovative products and services, and greater improvements in our understanding of how people interact with the world around them.
Some of the leading vendors in the computer vision market are companies such as Google, Amazon, and Microsoft. These companies offer a range of software products that allow users to capture images, track objects, and create 3D models. These vendors are also focusing on developing augmented reality (AR) and virtual reality (VR) applications.
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Leading Players in Computer Vision Market
- Cognex Corporation (US)
- Intel Corporation (US)
- Keyence Corporation (Japan)
- Matterport, Inc. (US)
- National Instruments (US)
- OMRON Corporation (Japan)
- Sony Semiconductor Solutions Corporation (Japan)
- Teledyne Digital Imaging Inc. (US)
- Allied Vision Technologies (Germany)
- Texas Instruments Inc. (US)
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