Artificial Intelligence
Computer Vision Market to Grow at Healthy CAGR as the Potential keep on Unwinding | SkyQuest Technology
Westford, USA, Aug. 04, 2022 (GLOBE NEWSWIRE) — Computer vision market has seen a rapid increase in popularity recently, with businesses and consumers alike turning to the technology for a number of applications. Some of the most common uses for computer vision include recognizing objects, identifying faces, and tracking vehicles. As computer vision becomes more prevalent, there is an increasing need for developers who can build and maintain these applications. This is where the computer vision workforce comes in; skilled professionals who can design algorithms, develop software, and deploy computer vision solutions.
According to SkyQuest, the global computer vision workforce will grow from 190,000 in 2016 to almost 485,000 by the end of 2023. This growth is due in part to the growing demand for applications such as facial recognition and autonomous driving.
Thanks to advancements in digital photography and video processing, businesses and individuals are increasingly turning to computer vision technology to improve their productivity. This field of study deals with the application of artificial intelligence algorithms to image or video data in order to make decision or create new products or services.
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Start-ups in Computer Vision Market are Poured with Funding
Global computer vision market is booming. With the development of autonomous cars, Internet of things, and medical devices, demand for computer vision technology is on the rise. However, funding for computer vision companies can be difficult to come by. This is due in part to the complex and abstract nature of the field. Additionally, the technology is still in its early stages and does not have a widespread consumer uptake.
Fortunately, there are a number of sources of funding for computer vision startups. Investors can provide funds either through Angel investing or venture capital. In addition, governments and universities are also active in funding computer vision research.
In 2021, the global computer vision market witnessed influx of around $21.1 billion in fundings as per SkyQuest study. The huge investment was spanned across 900+ companies. Globally, more than 1,700 start-ups are active in the global computer vision market. Wherein, these start-ups raised around half of the funding in just last 3 years.
In the last few years, Techstars, Y Combinator, Plug and Play Tech Center, Deep Learning, and Venture Kick remained the largest investors in the computer vision market. Following are some of the key investments in the global computer vision market:
- In July 2022, Drover AI through Series A funding raised over $5.4 million
- In July 2022, Ensuredit raised over $4.2 million
- In July 2022, Theator raised over $39.5 million in series A funding. Wherein, the company had initially raised over $15.5 million, but secured another funding of around $24 million in extended round
- In July 2022, The Brisbane company raised around $1.5 million in early-stage funding
- In July 2022, Lyro Robotics secured funding to build 20 more robots integrated with computer vision
SkyQuest has published a report that provides a detailed insights into global computer vision market. The report covers in depth analysis of the influx of funding being raised by the start-ups and inclination of investors towards the computer vision. The report would help you identify where the market is leading and what start-up are doing with the money that they have raised. The report also focuses on future prospective of the start-up environment.
Top 5 Trends in Computer Vision Market
- Deep Learning
- 3D reconstruction
- Image segmentation
- Object Detection
- Motion Estimation
Computer Vision has Potential to Make Urban Transportation More Efficient and Sustainable
Urban transportation is vexingly frustrating, time-consuming, and expensive. But with the help of computer vision, there is potential to make it more efficient and sustainable.
One example is using computer vision to optimize route selection for buses or bikes. By better understanding where pedestrians and cyclists are located, buses and bikes can travel through dense traffic more quickly and without wasting time waiting in line. This could make a big difference in cutting down on transportation delays, which would also save people money on their commute in the global computer vision market.
Computer vision can also be used to monitor traffic conditions on a wider scale. If a person sees an area near a bus stop becoming congested, they could send out a notification to the bus driver so that the bus can avoid that area. By optimizing traffic flows on an individual level, we can tackle larger issues such as congestion on major streets.
All of these applications of computer vision market have the potential to make urban transportation more efficient and sustainable. By looking at transportation from a different perspective, we may be able to make it easier for people to get around town without wasting time or money.
One company, Citymapper, is using computer vision to identify pedestrians and cyclists in city streets. This information is used to create digital maps of the city that show where people are located at any given time. The digital maps are then used to calculate how much traffic is flowing around each street, and this information is used to modify traffic signals accordingly. This system has already resulted in significant reductions in traffic congestion in some cities, and it is expected to play a similar role in other cities in the future.
Similarly, Google has developed an algorithm called Street View that captures images of city streets from orbit. This data is then used to create 3-D models of the city that can be used for navigation purposes or for planning road repairs. Street View has also been used to generate detailed maps of major Olympic venues, such as the Olympic Stadium in London.
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Demand for Computer Vision is on the Rise in AR and VR
A lot has changed in the world of computer vision market over the past few years. With the introduction of virtual reality and its growing popularity, there is an increasing need for accurate and efficient methods of recognition and analysis. By leveraging this technology, developers can create truly immersive and exciting experiences for users.
One such application is facial recognition. In VR, users are already accustomed to being surrounded by other people. Requiring them to look at a computer screen to input information can be jarring and frustrating. Facial recognition solves this problem by allowing users to interact with software without having to look away from their surroundings.
Starbreeze Studios, a player in computer vision market, has been using facial recognition in its own VR games such as Dead by Daylight and Surviving Mars. The company was recently acquired by Warner Bros., which indicates that the technology is likely to become more prevalent in the near future.
With so many potentials use for computer vision in VR, developers are currently racing to develop innovative ways to apply the technology. There are still many breakthroughs left to be made, but this field is poised for explosive growth in the coming years.
In addition, the report provides complete market analysis, market dynamics, market trends, growth forecast, pricing analysis, competitive landscape, market share analysis.
What Does Future Holds for Computer Vision Market?
The market for computer vision is expanding tremendously, with new products and services being developed every day. This trend is likely to continue in the coming years, as businesses around the world begin to realize the value of artificial intelligence (AI) and machine learning (ML).
One of the most important aspects of AI is understanding what people are doing. This is where computer vision comes in. Computer vision can be used to track objects and people as they move around a scene, capturing detailed information about their surroundings. This information can then be used to generate 3D models, which can be used for a variety of applications.
As this computer vision market continues to grow, so too will the number of companies that are able to use computer vision technology. This will lead to more innovative products and services, and greater improvements in our understanding of how people interact with the world around them.
Some of the leading vendors in the computer vision market are companies such as Google, Amazon, and Microsoft. These companies offer a range of software products that allow users to capture images, track objects, and create 3D models. These vendors are also focusing on developing augmented reality (AR) and virtual reality (VR) applications.
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Leading Players in Computer Vision Market
- Cognex Corporation (US)
- Intel Corporation (US)
- Keyence Corporation (Japan)
- Matterport, Inc. (US)
- National Instruments (US)
- OMRON Corporation (Japan)
- Sony Semiconductor Solutions Corporation (Japan)
- Teledyne Digital Imaging Inc. (US)
- Allied Vision Technologies (Germany)
- Texas Instruments Inc. (US)
Related Reports in SkyQuest’s Library:
Global Field Service Management (FSM) Market
Global Human Resource (HR) Technology Market
Global Electronic Data Interchange (EDI) Software Market
Global Core Banking Software Market
About Us:
SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.
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Artificial Intelligence
Identity Governance & Administration Market Projected to Reach $24.42 billion by 2030 – Exclusive Report by 360iResearch
PUNE, India, April 25, 2024 /PRNewswire/ — The report titled “Identity Governance & Administration Market by Component (Services, Solution), Modules (Access Certification & Compliance Control, Access Management, Identity Lifecycle Management), Organization Size, Deployment, Vertical – Global Forecast 2024-2030” is now available on 360iResearch.com’s offering, presents an analysis indicating that the market projected to grow from a size of $8.46 billion in 2023 to reach $24.42 billion by 2030, at a CAGR of 16.34% over the forecast period.
“Navigating Global Identity Governance With Key Strategies for Digital Security and Compliance”
Identity governance and administration (IGA) has emerged as a critical policy-driven approach aimed at fortifying digital identities within organizations, ensuring that proper access is provided to the right individuals for valid reasons. Across the globe, the demand for IGA solutions is on the rise, driven by the need to tackle sophisticated cyber threats, comply with stringent data protection laws, and adapt to the digitization wave sweeping through industries. Challenges include integrating these solutions with pre-existing IT frameworks, primarily in organizations reliant on legacy systems. The North American market, led by the United States and Canada, is at the forefront of this expansion, embracing technological advancements and stringent regulatory standards. Meanwhile, the Europe, Middle East, and Africa (EMEA) region is navigating its unique landscape, with the EU focusing heavily on compliance through GDPR and the Middle East and Africa gradually recognizing the value of digital security. The Asia-Pacific region is witnessing a significant uptrend in IGA solutions adoption, spurred by digital transformation initiatives and cybersecurity awareness, with China and India playing pivotal roles. This global perspective highlights the universal importance of IGA in today’s digital era, highlighting the critical balance between innovation, security, and regulatory compliance in safeguarding digital identities.
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“Navigating the New Normal With The Crucial Role of Identity Governance in Securing Hybrid Work Environments”
As businesses globally embrace the fusion of remote and traditional office work, the need for secure, hybrid workspaces becomes paramount. The shift toward flexible working models, accelerated by the COVID-19 pandemic, highlights the importance of cybersecurity and accessibility in ensuring operational continuity and a better work-life balance. Identity governance & administration (IGA) systems emerge as essential tools within this evolving work landscape. They enable organizations to manage digital identities and access rights effectively, safeguarding sensitive data against unauthorized access across diverse working environments. By ensuring that only credentialed employees can access critical information, regardless of their physical location, IGA solutions stand at the forefront of maintaining cybersecurity compliance and operational integrity. This development signifies a growing demand for robust identity governance frameworks, ensuring businesses remain resilient and secure in remote work and beyond.
“Elevating Security and Efficiency in Organizations through Specialized Identity Governance & Administration Services”
Managed and professional services provide organizations with the specialized expertise necessary for optimizing the performance and security of identity governance & administration (IGA) systems, eliminating the need for such in-depth knowledge internally. Businesses benefit from advanced skills that enhance system functionality and safeguard sensitive data by outsourcing specific IGA tasks. From the initial stages of integration and implementation, ensuring seamless incorporation with existing infrastructures, to ongoing support and maintenance for consistent system reliability and up-to-dateness, these services form the foundation of effective IGA strategies. Furthermore, training and consulting play a pivotal role, equipping companies with the understanding and capability to utilize their IGA systems to the fullest. IGA solution is a critical technological tool designed to streamline the management of user access rights across organizations, bolstering security, operational efficiency, and compliance with regulatory standards. This comprehensive approach to IGA facilitates a more secure, efficient, and compliant organizational environment, empowering businesses to focus on core objectives and ensure their data remains protected.
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“International Business Machines Corporation at the Forefront of Identity Governance & Administration Market with a Strong 7.09% Market Share”
The key players in the Identity Governance & Administration Market include Broadcom, Inc., SAP SE, Oracle Corporation, Microsoft Corporation, International Business Machines Corporation, and others. These prominent players focus on strategies such as expansions, acquisitions, joint ventures, and developing new products to strengthen their market positions.
“Introducing ThinkMi: Revolutionizing Market Intelligence with AI-Powered Insights for the Identity Governance & Administration Market”
We proudly unveil ThinkMi, a cutting-edge AI product designed to transform how businesses interact with the Identity Governance & Administration Market. ThinkMi stands out as your premier market intelligence partner, delivering unparalleled insights with the power of artificial intelligence. Whether deciphering market trends or offering actionable intelligence, ThinkMi is engineered to provide precise, relevant answers to your most critical business questions. This revolutionary tool is more than just an information source; it’s a strategic asset that empowers your decision-making with up-to-the-minute data, ensuring you stay ahead in the fiercely competitive Identity Governance & Administration Market. Embrace the future of market analysis with ThinkMi, where informed decisions lead to remarkable growth.
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“Dive into the Identity Governance & Administration Market Landscape: Explore 197 Pages of Insights, 654 Tables, and 26 Figures”
PrefaceResearch MethodologyExecutive SummaryMarket OverviewMarket InsightsIdentity Governance & Administration Market, by ComponentIdentity Governance & Administration Market, by ModulesIdentity Governance & Administration Market, by Organization SizeIdentity Governance & Administration Market, by DeploymentIdentity Governance & Administration Market, by VerticalAmericas Identity Governance & Administration MarketAsia-Pacific Identity Governance & Administration MarketEurope, Middle East & Africa Identity Governance & Administration MarketCompetitive LandscapeCompetitive PortfolioInquire Before Buying @ https://www.360iresearch.com/library/intelligence/identity-governance-administration
Related Reports:
Privileged Identity Management Market – Global Forecast 2024-2030Identity & Access Management Professional Services Market – Global Forecast 2024-2030Digital Identity Solutions Market – Global Forecast 2024-2030About 360iResearch
Founded in 2017, 360iResearch is a market research and business consulting company headquartered in India, with clients and focus markets spanning the globe.
We are a dynamic, nimble company that believes in carving ambitious, purposeful goals and achieving them with the backing of our greatest asset — our people.
Quick on our feet, we have our ear to the ground when it comes to market intelligence and volatility. Our market intelligence is diligent, real-time and tailored to your needs, and arms you with all the insight that empowers strategic decision-making.
Our clientele encompasses about 80% of the Fortune Global 500, and leading consulting and research companies and academic institutions that rely on our expertise in compiling data in niche markets. Our meta-insights are intelligent, impactful and infinite, and translate into actionable data that support your quest for enhanced profitability, tapping into niche markets, and exploring new revenue opportunities.
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Artificial Intelligence
Enghouse Video Partners With SONIFI Health To Deliver Advanced Telehealth Solutions In Hospital Rooms
MARKHAM, ON, April 25, 2024 /PRNewswire/ — Enghouse Video, a global leader in cutting-edge video technology solutions, today announced its partnership with SONIFI Health, enhancing virtual care in hospital settings.
SONIFI Health is a leading U.S. healthcare technology company based in Sioux Falls, South Dakota. The new partnership leverages and integrates Enghouse Video room systems technology to support SONIFI Health’s commitment to expanding telehealth applications and system optimizations in hospital settings.
Enghouse’s VidyoRooms solution, a sophisticated video conferencing technology that combines both software and hardware solutions, has been fully integrated into SONIFI Health’s interactive TV systems. This integration provides up to 4K high-quality video conferencing, multi-party sessions and robust security features that ensure full compliance with healthcare regulations.
Enghouse Video offers an immersive telehealth platform to support collaborative interdisciplinary care, improved patient outcomes and cost savings. The platform is flexible and simple, delivering the reliability, interoperability, and scalability needed for today’s healthcare environment. A key strength of the partnership is its offering of back-end integrations like patient portals, medical devices, EMR, tele-sitting, remote patient observation and consultation.
“Hospitals can choose the telehealth partner that’s right for them, and we incorporate that solution with interactive TV,” said Brian Nido, SONIFI Health’s Vice President of Customer Success. “Using the hardware and systems they already have in patient rooms helps hospitals reduce costs and maximize the value of their existing investments, while benefiting both clinicians and patients.”
SONIFI Health and Enghouse Video continue to collaborate closely to further refine and enhance the telehealth solutions provided to healthcare facilities. This partnership reflects a shared commitment to leveraging technology to create smarter hospital rooms and improve patient care across the healthcare spectrum.
About Enghouse VideoEnghouse Video, part of the Enghouse Interactive division, is a subsidiary of Enghouse Systems Limited, a vertically focused software and services company traded on the Toronto Stock Exchange (TSX: ENGH). Through highly secure, scalable and flexible Cloud-based or On Prem services, we deliver one of the world’s highest quality and most innovative video platform to video-enable any application or idea. From advanced video conferencing and collaboration tools to state-of-art enterprise video management, Enghouse Video is a unique player in multiple markets, including telehealth. Learn more at www.enghousevideo.com, read our blog, or follow us on Twitter at @EnghouseVideo, on LinkedIn, and on Facebook.
About SONIFI HealthSONIFI Health provides market-leading interactive patient engagement technology proven to improve patient outcomes and staff productivity. The EHR-integrated platform is designed to enhance patient and family experiences while increasing staff satisfaction and organizations’ operational efficiencies. As part of SONIFI Solutions, Inc., the company annually supports more than 300 million end user experiences. Learn more at sonifihealth.com.
Enghouse Video Contact: Sylvain Awad, Director, Demand Generation, Enghouse Video, part of Enghouse Interactive Division, [email protected]
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Artificial Intelligence
Global Insurance Provider Selects 3CLogic to Streamline AI and Contact Center Capabilities with ServiceNow
Multinational Insurance Broker to deploy 3CLogic’s solution with ServiceNow’s Financial Service Operations (FSO) platform to streamline customer experiences.
ROCKVILLE, Md., April 25, 2024 /PRNewswire/ — 3CLogic, the leading Conversational AI and Contact Center solution for ServiceNow®, today announced its selection by a global insurance provider to replace its existing contact center infrastructure as part of a larger CX transformation effort. The strategic decision is designed to complement the organization’s use of ServiviceNow’s Financial Services Operations (FSO) offering leveraged across a number of its existing product lines including Customer Warranty Claims, Roadside Assistance, and Home Warranties.
Serving millions of customers worldwide with innovative insurance and protective products, the organization required a solution that would enhance its recent investment in the ServiceNow platform as it works to transform its end-to-end customer service operations. The deployment will incorporate several of 3CLogic’s AI-powered capabilities purpose-built for ServiceNow, including Conversational AI, Speech Analytics, and AI Performance & Coaching, along with integrated call transcriptions, convenient 2-way SMS, and ServiceNow-centralized contact center reporting.
“We continue to see enterprises eager to complement their existing investment in digital platforms, such as ServiceNow, with contact center features purpose-built to extend the workflows and features they already have and use,” explains Matt Durkin, VP of Global Sales at 3CLogic. “It’s no secret that organizations are already juggling too many systems, often with overlapping capabilities, which impacts ROI and operational efficiency. We’re proud to offer an alternative approach that helps simplify the technology stack while optimizing the overall operational costs and outcomes.”
Recently named to Constellation Research’s 2024 Shortlist for Digital Customer Service and Support, 3CLogic has seen global adoption of its solution by leading enterprises in healthcare, manufacturing, travel, retail, higher education, finance, non-profits, and Managed Service Providers across five continents. As a ServiceNow-certified Technology and Build partner with offerings available for ServiceNow’s IT Service Management, Customer Workflows, HR Service Delivery, and Source-to-Pay solutions, the company will be unveiling its latest set of capabilities at ServiceNow’s annual Knowledge 2024 event this May in Las Vegas.
For more information, please contact [email protected].
About 3CLogic3CLogic transforms customer and employee experiences with its leading Cloud Contact Center and AI solutions purpose-built to enhance today’s leading CRM and Customer Service Management platforms. Globally available and leveraged by the world’s leading brands, its offerings empower enterprise organizations with innovative features such as intelligent self-service, generative and Conversational AI, agent automation & coaching, and AI-powered sentiment analytics – all designed to lower operational costs, maximize ROI, and optimize each interaction across IT Service Desks, Customer Support, Sales or HR Services teams. For more information, please visit www.3clogic.com.
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