The market growth of computer vision in Asia-Pacific is analysed across China, Japan, India, South Korea, Southeast Asia, and Australia.
Computer vision in Asia-Pacific is deployed in a varied range of applications. A few years ago, a new concept of proofs-of-concept started that is now going to be introduced in production. This is resulting in creating a new set of problems thereby providing opportunities for another group of start-ups. Some of the factors that enable the rapid global adoption of computer vision include the falling price of hardware, the swift growth of technology, accurate results, and ease of connectivity. The computer vision market in APAC is expected to grow from US$11.5 billion in 2019 to US$27.7 billion by 2027; it is estimated to grow at a CAGR of 49.8% from 2020 to 2027.
The Asia-Pacific computer vision industry is analysed across China, Japan, India, South Korea, Southeast Asia, Australia, and the rest of Asia-Pacific. Deep learning has brought a new change in the way computer machine vision is used for smart manufacturing and industrial automation. Integration of deep learning is propelling machine vision systems to adapt themselves to variations in production. Integration of deep learning is propelling computer vision systems to adapt themselves to variations in production. This dramatically strengthens the computer vision value proposition by bringing a rapid shift in accelerating inspection procedures and increasing application efficiency and operating efficiencies.
Factors such as faster processing and better accuracy coupled with the economic advantage of computer vision systems are some of the major factors that are fuelling the computer vision market size growth during the forecast period. However, an intense requirement of highly skilled and experienced professional and user data privacy and safety concerns is primarily restraining the market growth. Moreover, the growing application of computer vision in non-industrial applications and advancements in the field of computer vision and AI is creating a lucrative opportunity for the computer vision market trends.
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