Westford, U.S., August 04, 2022 (GLOBE NEWSWIRE) — computer vision market has recently seen a rapid increase in popularity, with businesses and consumers turning to the technology for a number of applications. Some of the most common uses of computer vision include object recognition, face identification, and vehicle tracking. As computer vision becomes more widespread, there is a growing need for developers who can build 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 growing demand for applications such as recognition facial and autonomous driving.
With 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 application of artificial intelligence algorithms to image or video data in order to make decisions or create new products or services.
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Computer Vision Market Startups Receive Funding
The global computer vision market is booming. With the development of self-driving cars, the Internet of Things, and medical devices, the demand for computer vision technology is on the rise. However, funding for computer vision businesses can be hard to come by. This is partly due to the complex and abstract nature of the domain. Additionally, the technology is still in its infancy and not widely adopted by consumers.
Fortunately, there are a number of funding sources for computer vision startups. Investors can provide funds through angel or venture capital investments. Additionally, governments and universities are also active in funding computer vision research.
In 2021, the global computer vision market saw an influx of approximately $21.1 billion in funding according to SkyQuest research. The huge investment has spread to more than 900 companies. Globally, more than 1,700 start-ups are active in the global computer vision market. In this framework, these start-ups have raised about half of the funding in the last 3 years alone.
Over the past few years, Techstars, Y Combinator, Plug and Play Tech Center, Deep Learning, and Venture Kick have remained the biggest investors in the computer vision market. Here are some of the key investments in the global computer vision market:
- In July 2022, Drover AI through Series A funding raised over $5.4M
- In July 2022, Ensuredit raised over $4.2 million
- In July 2022, Theator raised over $39.5 million in Series A funding. In which, the company initially raised over $15.5 million, but secured another funding of approximately $24 million. dollars under an extended cycle
- In July 2022, the Brisbane company raised around $1.5m in seed funding
- In July 2022, Lyro Robotics secured funding to build another 20 robots integrated with computer vision
SkyQuest has published a report that provides a detailed overview of the global computer vision market. The report covers an in-depth analysis of the influx of funding raised by start-ups and the inclination of investors towards computer vision. The report would help you identify where the market is heading and what the startups are doing with the money they have raised. The report also focuses on the future foresight of the start-up environment.
Top 5 Computer Vision Market Trends
- deep learning
- 3D reconstruction
- Image segmentation
- Object detection
- Motion estimation
Computer vision has the potential to make urban transport more efficient and sustainable
Urban transport is extremely frustrating, time-consuming and expensive. But with the help of computer vision, it is possible 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, buses and bikes can move through heavy traffic faster and without wasting time waiting in line. This could make a big difference in reducing transportation delays, which would also save people money on their travels in the global computer vision market.
Computer vision can also be used to monitor traffic conditions on a larger scale. If someone sees an area near a bus stop becoming congested, they can send a notification to the bus driver so the bus can avoid that area. By optimizing traffic flows at the individual level, we can tackle bigger issues like congestion on major streets.
All of these computer vision market applications 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, uses computer vision to identify pedestrians and cyclists on city streets. This information is used to create digital city maps that show where people are at any given time. The digital maps are then used to calculate the amount of traffic flowing around each street, and this information is used to modify traffic lights accordingly. This system has already significantly reduced traffic congestion in some cities and 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 3D models of the city that can be used for navigation purposes or to plan road repairs. Street View was also used to generate detailed maps of key Olympic venues, such as the Olympic Stadium in London.
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Demand for computer vision is on the rise in augmented reality and virtual reality
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 a growing need for accurate and efficient recognition and analysis methods. By leveraging this technology, developers can create truly immersive and exciting experiences for users.
One of these applications is facial recognition. In VR, users are already used to being around other people. Forcing them to stare at a computer screen to enter information can be shocking 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 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 potentials for using computer vision in virtual reality, developers are now scrambling to develop innovative ways to apply the technology. There are still many breakthroughs to be made, but this field is poised for explosive growth in the years to come.
Additionally, the report provides comprehensive market analysis, market dynamics, market trends, growth forecasts, price analysis, competitive landscape, market share analysis.
What does the future hold for the computer vision market?
The computer vision market is growing tremendously, with new products and services being developed every day. This trend is set 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 through 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, the number of companies capable of using computer vision technology will also increase. This will lead to more innovative products and services and a greater improvement in our understanding of how people interact with the world around them.
Some of the major 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 also focus on the development of augmented reality (AR) and virtual reality (VR) applications.
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Key Players in the Computer Vision Market
- Cognex Corporation (USA)
- Intel Corporation (USA)
- Keyence Corporation (Japan)
- Matterport, Inc. (USA)
- National instruments (United States)
- OMRON Corporation (Japan)
- Sony Semiconductor Solutions Corporation (Japan)
- Teledyne Digital Imaging Inc. (USA)
- Allied Vision Technologies (Germany)
- Texas Instruments Inc. (USA)
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SkyQuest Technology is a leading growth consulting firm providing market intelligence, marketing and technology services. It has more than 450 satisfied customers worldwide.
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