Market Defination :
Global Deep Learning in Machine Vision Market is expected to reach USD 997.27 million by 2025 and is projected to register a healthy CAGR in the forecast period 2018 to 2025,
There is an increase in demand for deep learning software in various manufacturing industries as the need for quality check and automation has increased. Moreover, growth in adoption of cloud-based applications for storage of the data is helping in the growth of the market. On the other hand lack of technical expertise and absence of standard protocol for the manufacturing and development of software and varying demand of end user has hindered the growth of the market.
Key Players :
Cognex Corporation is going to dominate the global deep learning in machine vision market followed by MVTEC Software GMBH, Qualitas Technologies, SUALAB and Cyth Systems.
- The image classification segment is dominating the global deep learning in machine vision market.
- Automotive segment is expected to grow with the highest CAGR of 49.6% in the forecast period 2018 to 2025.
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Market Research report Segmentation basis on :
- basis of application into image classification, optical character recognition, bar code detection and anomaly detection. In 2018, image classification is expected to dominate the deep learning in machine vision market market with 60.5% market share growing at the highest CAGR in the forecast period 2018 to 2025.
- basis of end-user into broad-based automotive, electronics, food & beverage, healthcare, aerospace & defence and others. In 2018, automotive is expected to dominate the deep learning in machine vision market with highest market share and is growing at a healthy CAGR in the forecast period 2018 to 2025.
- The global deep learning in machine vision market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market
- Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa.
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Some of the major factors driving the market for global deep learning in machine vision market are increasing need for quality inspection and automation, growth in adoption of cloud-based applications and growing demand for vision-guided robotic systems
Lack of technical expertise and absence of standards and protocols and services and lack of user awareness about rapidly changing computer vision technology for deep learning in machine vision are hampering the growth of the market.