Computer vision industry is increasingly growing globally. MarketsandMarkets recent survey states that the computer vision market will have reached 11.94 billion U.S. dollars by 2018. It is likely to reach 17.38 billion U.S. dollars by 2023, at a CAGR of 7.80% by 2023. Let’s consider the key factors that drive growth in the computer vision sector below:
Companies are eager to automate processes and inspect them. AI- and IoT-integrated systems are in great demand. Autonomous/semi-autonomous vehicles, consumer drones are increasingly adopted. The fourth industrial revolution is implemented globally.
While there are several key factors in the expected long-term growth of the global computer vision market, there are 5 trends businesses should focus on. Let’s delve into 5 computer vision trends that change the way computer vision technology is deployed.
#1 Wealth of camera data
Digital cameras are high quality and widespread. There are at least two of them on every smartphone that people use every day. The ever-growing number of cameras produce a great number of images that means image sensor data will blur all other sensor data.
#2 Deep learning algorithms
With deep learning algorithms, computers enable to recognize and detect objects in images accurately, understand the relationships between them. Well-orchestrated efforts in combining with camera data allow creating something huge.
#3 3D sensing
Time-of-flight and structured light sensors, when paired with stereo vision, mean that computers cannot just see the world but can actually understand its structure. In future mobile devices, 3D sensing will augment camera capabilities to enable object recognition, depth data, greater precision, and object placement.
SLAM refers to “simultaneous location and mapping.” Created algorithms enable a device to construct a three-dimensional world map and identify the location where the device is. This enables robots, autonomous vehicles, and other devices to navigate and make sense of their surroundings.
#5 The edge revolution
All mentioned above trends we can do in the cloud. But what is really great that all computer vision tasks can be done on the “edge” on devices ranging from wearables and mobile phones to embedded processors in the cars.
ProVision Lab team has a solid experience in building computer vision solutions. Let us know and we will help you create and implement all mentioned above trends into successful digital solutions.