Research And Markets: Global Computer Vision Market Size to Reach $95 Billion in 2027

On March 24, according to the latest report released by international market research organization Research And Markets, the global computer vision market size was US$4.6433 billion in 2019 and is expected to reach US$95.0805 billion by 2027; from 2020 to 2027, the annual compound growth rate is expected to be 46.9%.

The report states that North America led the global computer vision market with a significant revenue share in 2019. The development of this technology has made the market very competitive across all industries in North America. In the coming years, the increasing investments in advanced technologies are expected to further drive the growth of the computer vision market.

Computer vision refers to the automatic acquisition, analysis and understanding of useful information from an image or a series of images, and studies how to enable computers to gain a high-level understanding from digital images or videos. It is mainly used in scene reconstruction, event detection, video tracking, image restoration and other fields.

In recent years, the application of computer technology has become very extensive. Especially in the industrial field, computer vision technology can collect a large amount of data generated in industrial scenes and apply it to industrial production, which improves efficiency while reducing resource input.