In 2020, the global computer vision market was valued at $9.45 billion. Growing at a CAGR of 16%, it is projected to reach a whopping $41.11 billion by 2030. These are the findings that Allied Market Research published in its recent report.
Indeed, computer vision is revolutionizing our everyday lives, helping us unlock new efficiencies and address real-world challenges. From accurate medical imaging to weapon detection systems to self-driving cars, the technology powers the most innovative products.
In this article, we will discuss the basics of computer vision, as well as the top 15 computer vision leaders of today.
What is Computer Vision
Computer vision (CV) is a subset of artificial intelligence that is concerned with the processing of visual information by machines. In doing so, machines imitate the function of the human eye, hence the name. The source of visual data for computers can include both physical and digital environments (images, photos, text, and video).
So, how does computer vision work? The concept of computer vision is based on the use of deep learning models and convolutional neural networks (CNN) to teach machines about the context of visual data. CV algorithms break down images into pixels, classify objects, and find patterns in order to make data-driven decisions.
From retail and eCommerce to healthcare and security, industries are actively exploring the possibilities of computer vision to solve real-world problems. The current level of technology already makes it possible to use it for cancer detection, automated proctoring, abnormal behavior detection, illegal parking detection, and more.
These applications are possible in no small part due to innovative tech companies and startups that contribute to the field of computer vision and push the envelope to exciting new frontiers.
Top computer vision companies
As computer vision is among the most progressive and rapidly developing fields, we have rounded up the top 15 CV companies that are worth a closer look.
Industry: Computer vision, machine learning, online video
Oxagile is a custom computer vision software development company that focuses on the most challenging fields of visual content analysis like biometrics, object recognition and tracking, online video analysis, and more. Global clients tap into Oxagile’s computer vision expertise to revamp viewer engagement, enhance public safety, streamline proctoring efficiency, and enable better commercial opportunities, among other things.
Oxagile’s team is continuously working on internal projects to test out new hypotheses and accumulate know-hows. This hands-on experience allows the team to quickly take a CV project off the ground, no matter the complexity.
Founded in: 2014
Industry: Computer Vision, Artificial Intelligence, Machine Learning
Matellio is a platform offering offshore and onshore development processes with the next-generation technology of AI, ML, and Computer vision. The computer vision services provided by Matellio empower businesses by enhancing their performance in the market. With supervised machine learning models identifying people and objects and categorizing or retrieving valuable data becomes easy. Matellio helps address future challenges by offering cost-effective services driven by computer vision to deliver a unique customer experience. Some major services include face and image recognition solutions, object identification systems, upgradation services, and many more.
Industry: Artificial intelligence, computer vision
Viso.AI is a unified visual AI and computer vision platform called Viso Suite that enables developers to build, deploy and manage computer vision applications in a hassle-free way.
Integrated with the best open-source tools and techs, the platform offers pre-built modules for intuitive application development in a low-code/no-code environment and supports collaboration in cloud-based workspace. With Viso Suite, developers can easily capture training data, use labels to create high-quality datasets, and train custom AI models.
Viso’s flexibility allows companies to choose from different service packages — from on-demand assistance to fully managed services.
Industry: Video surveillance and security
Verkada is a computer vision startup that works on making video surveillance robust and reliable. To that end, Verkada provides a network of AI-powered cameras and a centralized, cloud-based platform to monitor and control them. The platform, Verkada Command, is easy to use and provides customers with a complete picture of activities across all sites to help them identify threats and reduce response time.
Given the platform efficiency and flexibility, the company’s clients range from government agencies to schools. In 2019, Verkada was included in Forbes’ Next Billion Dollar Startups list, and in 2020, the company was valued at $ 1.6 billion.
Industry: Artificial intelligence, computer vision, augmented reality
RevolveAI is an AI-first computer vision startup that caters to the needs of small businesses and large-scale corporations alike. The areas where RevolveAI is active include facial recognition and detection, emotion analysis, OCR and object detection. The team also expertly integrates computer vision with augmented reality and 3D modeling to create custom immersive solutions.
RevolveAI serves such industries as retail, agriculture, fashion, security, healthcare, and banking. Its rich portfolio ranges from innovative try-on eCommerce apps to multi-camera 3D modeling to face mask detection solutions.
Industry: data science, artificial intelligence, intelligent automation
Headquartered in the United States, ITRex has established its presence in Central Europe and LATAM to better serve its growing customer pool.
The company specializes in developing custom artificial intelligence and computer vision solutions.
The ITRex team is well-versed in facial recognition, human pose estimation, and smart document processing technologies. In addition, the company’s portfolio features a custom fitness mirror with a built-in personal coach, an eye lens power calculation platform, and an AI-driven system for checkout-free shopping.
Industry: Sports analytics
Since 2001, Hawk-Eye Innovations has been advancing sports officiating and fan engagement, and now it has turned into a true force on the sports analytics arena.
Hawk-Eye’s innovative products use computer vision and advanced analytics to automate tasks like real-time tracking of ball movement, objects, and athletes performance. The insights derived from this data revolutionize sports by enabling better coaching approaches, fairer matches and streamlined broadcasting.
Location: Hong Kong
Industry: Artificial intelligence, deep learning, machine learning, autonomous driving
A multinational AI software company operating out of China, SenseTime aims to drive positive changes through AI-enabled innovation.
SenseTime has come into prominence due to breakthroughs in the field of AI research — one of the company’s achievements was building an AI system that detects objects better than humans. But due to its proprietary AI infrastructure, SenseCore, the company has ventured into other areas, and now the primary verticals include Smart City, Smart Business, Smart Life, and Smart Auto.
SenseTime continues to carry out academic research and has established research labs with the leading universities. The company is also a member of The Global Artificial Academic Alliance and is actively involved in the development of standards on ethical and sustainable AI.
Industry: Video intelligence
AnyClip harnesses computer vision to unlock the power of innate data in video. By analyzing videos frame-by-frame by object, brand, text, spoken word, and other criteria, AnyClip’s automated video platform turns videos into actionable assets that are easily searchable and can be repurposed for business use.
In addition, AnyClip offers Visual Intelligence API to make it easy for companies to integrate next-gen video AI capabilities into their workflows and reap the benefits of smart recommendations, contextual targeting, and UGC moderation at scale.
Industry: Artificial Intelligence, deep learning, smart camera
alwaysAI is a comprehensive development platform that aims to help enterprise customers build and deploy computer vision applications on edge devices. With a catalog of pre-trained models and powerful APIs, developers can create, run, and manage CV solutions across a wide range of IoT devices, including camera infrastructure.
In addition, the alwaysAI framework allows businesses to capture real-time insights and visualize them through easy-to-understand dashboards or integrate with the existing business intelligence systems.
Industry: Blockchain, AI, IoT, machine learning
LeewayHertz is a Web3 development company with over 10 years of experience in providing computer vision development services with the focus on object detection, image retrieval, video analysis, OCR and ICR, data labeling.
LeewayHertz leverages its computer vision expertise to build innovative AI-powered products like the world’s first robotic tea maker and CV-based roster management and tracking app.
From Fortune 500 companies to fast-growing startups, Leeway Hertz is helping companies of all sizes ease their business function with the help of technology. The company’s client base include Disney, Pepsico, Siemens, 3M, P&G, ESPN, and more.
Industry: Manufacturing automation
Headquartered in Oslo, Zivid is another leading computer vision company that aims to bring human-like machine vision to robots and industrial automation systems.
Zivid designs and sells industrial-grade Zivid Two and Zivid One+ 3D color cameras that provide excellent image quality. Together with Zivid Studio, its software solution, the cameras can be used in a variety of applications for tasks ranging from random bin picking and de-palletizing to packaging and quality inspection.
Industry: Healthcare, medical imaging
CureMetrix is a software development company that leverages the power of artificial intelligence and computer vision to take radiology and medical imaging to the next level.
The primary focus of the company is to equip radiologists with better, data-driven tools to make informed decisions. CureMetrix’ image analysis platform enables clinicians to detect and classify anomalies in mammograms, differentiate between different types of anomalies, and reduce the rate of false positives.
To train and validate its algorithm, CureMetrix has partnered with a number of esteemed institutions like John Hopkins University, University of California, and Hoag Health Network. CureMetrix’ ground-breaking technology has won worldwide recognition and several awards.
14.Nanox.AI (former Zebra Med)
At the end of 2021, Nanox completed a strategic merger with Zebra Medical Vision to continue democratizing healthcare on a global scale.
The rebranded company called Nanox.AI provides AI-based medical imaging solutions to help physicians identify the early signs of such chronic illnesses as osteoporosis and coronary artery disease. Early and accurate detection of symptoms further translate into better adjusted preventative care paths and lower associated costs.
Athena is on a mission to save people’s lives and prevent crimes by detecting weapons and dangerous behavior with the help of artificial intelligence and computer vision.
Athena’s weapons detection system leverages proprietary neural networks and multiple sensors to detect threats like shotguns and rifles 10x times faster than legacy metal detectors. The other flagman solution, a temperature checking system, accurately identifies elevated temperature within +-0.2 degrees Celsius by detecting a person’s face and ignoring hot spots like a light, a coffee, or a cell phone.
The bottom line
Artificial intelligence and computer vision continue to change the world, becoming an indispensable part of digital transformation and technological development across a variety of industries. From automating mundane tasks to enhancing diagnostics accuracy to improving public safety, computer vision is a powerful technology with far-reaching effects.
And as computer vision keeps growing in leaps and bounds, the competition among CV companies is also getting tougher. Today, computer vision is a multi-billion dollar market thanks to a strong interest from investors.
In this article, we have covered the most promising and interesting CV companies and startups that drive positive changes through their innovative products and services. And given what a rapidly developing field it is, next year we’ll probably see new shining stars thriving in the computer vision industry.