Computer Vision in Europe is Projected to Hit US$27.10 Billion by 2027

The vendors play a significant role in shaping the market of computer vision in Europe

Computer vision in Europe is expected to grow from US$1.2 billion in 2019 to US$27.10 billion by 2027; it is estimated to grow at a CAGR of 48.5% from 2020 to 2027. Deep learning has brought a new change in the role of machine vision used for smart manufacturing and industrial automation. Integration of deep learning is propelling machine vision systems to adapt themselves to variations in production. This dramatically strengthens the machine vision value proposition by bringing a rapid shift in accelerating inspection procedures, increasing application efficiency and operating efficiencies.

On the other hand, with the increased resolution of cameras and improved pixel resolution, suppliers of component lenses are committed to providing enhanced lenses for industrial applications, especially in the heavy industry. Liquid lenses would be a modern trend to increase speed and alacrity, relying almost immediately on a change in current or voltage without the need for mechanical improvements to traditional lenses. Thus, the above-mentioned factors are expected to fuel the growth of the European computer vision market over the years.

The vendors also play a significant role in shaping the market scenario. Players are involved in developing core technology, such as image sensors and image-processing algorithms, vision products from cameras to sensors, from software to systems, for all kinds of applications and industries. Moreover, the domestic use of computer vision equipment in factories in Europe is also relatively stable.

Europe is expected to be one of the most lucrative markets due to the growing demand for processed products, especially in the United Kingdom, Germany, and France. Moreover, stringent regulations proposed by the regulating bodies about the quality and hygiene of the processed items are expected to support the demand for computer vision systems in the European food industry.