Westford, USA, Aug. 04, 2022 (GLOBE NEWSWIRE) — computer vision market has seen a rapid rise in popularity recently, with businesses and consumers alike turning to the technology for many applications. Some of the common uses of computer vision include object recognition, face recognition, and vehicle tracking. As computer vision becomes more widespread, there is a growing need for developers to create and maintain these applications. This is where the computer vision workforce comes in; skilled professionals capable of designing algorithms, developing software, and deploying computer vision solutions.
According to SkyQuest, the global computer vision workforce will grow from 190,000 in 2016 to nearly 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 advances 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 use of artificial intelligence algorithms on image or video data to make decisions or create new products or services.
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Start-ups in Computer Vision Market Pour in Funds
The global computer vision market is booming. With the development of autonomous cars, Internet of things, and medical devices, the demand for computer vision technology is increasing. However, funding for computer vision companies can be hard to come by. This is due in part to the complex and abstract nature of the field. In addition, the technology is still in its early stages and does not have widespread consumer adoption.
Fortunately, there are many sources of funding for computer vision startups. Investors can provide funding through Angel investment or venture capital. In addition, governments and universities are also active in funding computer vision research.
By 2021, the global computer vision market will witness an influx of nearly $21.1 billion in funding according to a SkyQuest study. The large investment consists of 900+ companies. Worldwide, more than 1,700 start-ups are active in the global computer vision market. Of which, these start-ups have raised almost half of the funding in the last 3 years.
Over the past few years, Techstars, Y Combinator, Plug and Play Tech Center, Deep Learning, and Venture Kick have remained the largest investors in the computer vision market. The 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
- As of July 2022, Assuredit has raised over $4.2 million
- As of July 2022, Theator has raised over $39.5 million in series A funding. Of which, the company initially raised over $15.5 million, but secured another funding of nearly $24 million in the extended round.
- As of July 2022, the Brisbane company has raised about $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 overview of the global computer vision market. The report contains an in-depth analysis of the influx of funding raised by start-ups and investors’ inclination towards computer vision. The report will help you know where the market is leading and what startups are doing with the money they have raised. The report also focuses on the future of the startup environment.
Top 5 Trends in the Computer Vision Market
- Deep Learning
- 3D reconstruction
- Image segmentation
- Checking the item
- Motion Estimation
Computer Vision Has the Potential to Make Urban Transportation More Efficient and Sustainable
Urban transportation is very frustrating, time-consuming, and expensive. But with the help of computer vision, there is the potential to make it more efficient and sustainable.
An example is the use of computer vision to optimize route selection for buses or bicycles. By better understanding where pedestrians and cyclists are located, buses and bicycles can travel through heavy traffic faster and not waste time waiting in line. This can make a big difference in cutting down on transportation delays, which can 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 that is crowded, they can send a notification to the bus driver so that the bus can avoid that area. By optimizing traffic flows at an individual level, we can solve larger issues such as congestion on major roads.
All of these applications in the computer vision market have the potential to make urban transportation more efficient and sustainable. By looking at transportation from a different perspective, we can make it easier for people to get around the city without wasting time or money.
One company, Citymapper, uses computer vision to identify pedestrians and cyclists on city streets. This information is used to create digital maps of the city that show where people are located at any given time. Digital maps are then used to calculate how much traffic is flowing around each road, and this information is used to change traffic signals accordingly. This system has already resulted in a significant reduction 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 to plan road repairs. Street View is also used to create detailed maps of major Olympic venues, such as the Olympic Stadium in London.
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The demand for Computer Vision is increasing in AR and VR
A lot has changed in the world of computer vision market in the last few years. With the introduction of virtual reality and its growing popularity, there is a growing need for accurate and efficient identification and analysis methods. By using this technology, developers can create truly immersive and exciting experiences for users.
One such application is facial recognition. In VR, users are used to being surrounded by other people. Asking them to look at a computer screen to input information can be confusing and frustrating. Facial recognition solves this problem by allowing users to interact with the software without having to look too far into their surroundings.
Starbreeze Studios, a player in the computer vision market, uses facial recognition in its own VR games such as Dead by Daylight and Surviving Mars. The company was recently acquired by Warner Bros., indicating that the technology is likely to become more widespread in the near future.
With so many potential uses for VR computer vision, developers are now racing to come up with new ways to use the technology. There are still many improvements 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, price analysis, competitive landscape, market share analysis.
What Does the Future Hold for the Computer Vision Market?
The market for computer vision is expanding rapidly, 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 do. This is where computer vision comes in. Computer vision can be used to track objects and people as they move through a scene, capturing detailed information about their surroundings. This information can then be used to create 3D models, which can be used for a variety of applications.
As this computer vision market continues to grow, so will the number of companies 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 like Google, Amazon, and Microsoft. These companies offer a variety of software products that allow users to capture images, track objects, and create 3D models. These vendors also focus on developing augmented reality (AR) and virtual reality (VR) applications.
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Top 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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