The vendors play a significant role in shaping the market of computer vision in Europe
From 2020 to 2027, the European computer vision market is predicted to increase at a CAGR of 48.5 per cent, from US$1.2 billion in 2019 to US$27.10 billion in 2027. Machine vision for smart manufacturing and industrial automation has taken on a new role thanks to deep learning.
Machine vision systems are adapting to fluctuations in production thanks to the integration of deep learning. This significantly improves the machine vision value proposition by expediting inspection procedures, enhancing application efficiency, and lowering running costs.
Suppliers of component lenses, on the other hand, are devoted to producing enhanced lenses for industrial applications, particularly in heavy industry, as camera resolution and pixel resolution improve. Liquid lenses are a new trend that relies on a shift in current or voltage to increase speed and alacrity without the need for mechanical changes to regular lenses.
As a result, the aforementioned reasons are projected to propel the European computer vision market forward in the coming years.
Vendors also have a big impact on the market environment. Players are working on image sensors and image processing techniques, as well as vision products ranging from cameras to sensors, software to systems, for a variety of applications and sectors.
Furthermore, in Europe, the employment of computer vision equipment in manufacturing is relatively consistent.
The AI in the computer vision market in Europe is divided into two categories: component and end-user. The market is divided into hardware and software segments based on components. In 2019, the hardware category accounted for the highest share of Europe’s AI in the computer vision market.
Automotive, sports and entertainment, robotics and machine vision, security and surveillance, government and defence, and others are the end-user segments of the European AI in the computer vision market. In 2019, the automobile industry held the largest share of the market.
Because of the increased demand for processed products, particularly in the United Kingdom, Germany, and France, Europe is likely to be one of the most profitable regions.
Furthermore, the need for computer vision systems in the European food industry is projected to be supported by strict requirements proposed by regulatory agencies regarding the quality and hygiene of processed foods.
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