May 19, 2020   SOURCE: BusinessWire

Deep learning drives computer vision market with global revenues set to grow to $33.5 billion by 2025, according to Omdia

Computer vision (CV) is aiding numerous promising applications and revolutionizing the way people do things. According to new research from Omdia, the proof-of-concepts that started a few years ago are now going into production, with deployments across a wide range of applications.

Many businesses are realizing the value of vision and are starting to determine how to use CV technology for commercial benefit. Technology is evolving to address these needs. According to Omdia principal analyst Anand Joshi, “Deep learning has become the technology of choice for computer vision applications replacing classic computer vision techniques. This, in turn, is driving the need for new chipsets and software for CV applications.” Global CV market revenue is expected to grow from $2.9bn in 2018 to $33.5bn by 2025.

Omdia’s report, “Computer Vision Technologies and Market,” analyzes the market trends and technology issues surrounding CV. The study examines the industries and use cases and provides profiles of key industry players. Global market forecasts, segmented by region, industry, and use case, extend through 2025. An Executive Summary of the report is available for free download on the firm’s website.

About Omdia
Omdia is a global technology research powerhouse, established following the merger of the research division of Informa Tech (Ovum, Heavy Reading and Tractica) and the acquired IHS Markit technology research portfolio*.

We combine the expertise of over 400 analysts across the entire technology spectrum, analyzing 150 markets, publishing 3,000 research solutions, reaching over 14,000 subscribers, and covering thousands of technology, media & telecommunications companies. Our exhaustive intelligence and deep technology expertise allow us to uncover actionable insights that help our customers connect the dots in today’s constantly evolving technology environment and empower them to improve their businesses – today and tomorrow.

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Omdia is a registered trademark of Informa PLC and/or its affiliates. All other company and product names may be trademarks of their respective owners. Informa PLC registered in England & Wales with number 8860726, registered office and head office 5 Howick Place, London, SW1P 1WG, UK. Copyright © 2020 Omdia. All rights reserved.

*The majority of IHS Markit technology research products and solutions were acquired by Informa in August 2019 and are now part of Omdia.