The computer vision in healthcare market is projected to reach USD 1,457 million by 2023 from USD 210 million in 2018, at a CAGR of 47.2% during the forecast period. The growth of this market is mainly driven by the increasing demand for computer vision systems in the healthcare industry, government initiatives to increase the adoption of AI-based technologies, big data in healthcare, and the use of computer vision in precision medicine.
The computer vision in healthcare market is highly competitive in nature, with several big as well as emerging players vying for market shares. Prominent players in this market include NVIDIA Corporation (US), Microsoft (US), Intel Corporation (US), Xilinx Inc. (US), IBM (US), Google (US), Basler AG (Germany), Arterys (US), AiCure (US), and iCAD Inc. (US). These players have adopted various strategies such as acquisitions, partnerships, collaborations, and product launches & approvals to further expand their presence in the global computer vision in healthcare market. Partnerships and collaborations were the key growth strategies adopted by top players such as NVIDIA Corporation (US), Microsoft (US), Intel Corporation (US), Xilinx Inc. (US), IBM (US), and Google (US) from 2016 to 2018.
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NVIDIA is a leading player in the visual computing business. The company has a well-established geographic footprint and deals with major OEMs or ODMs. Recently, NVIDIA witnessed a significant increase in its data center revenue. The company mainly focuses on adopting different organic growth strategies to maintain its position in the market. For instance, in September 2018, the company launched the NVIDIA Clara platform, and in October 2017, it launched the NVIDIA GPU Cloud (NGC).
Intel is among the market leaders in designing and manufacturing advanced integrated digital technology platforms. The company has a robust market presence, especially in the PC and data center markets, and invests significantly in R&D, which has resulted in its strong position in this market. In the past two years, Intel has significantly focused on acquisitions to enhance its presence in the market. The acquisition of companies such as Saffron Technology, Altera, Nervana Systems, and Movidius has further improved its product portfolio.
Computer Vision in Healthcare Market by Product & Service (Software (On premise, Cloud), Hardware (CPU, GPU, FPGA, ASICs), Memory, Network), Application (Medical Imaging, Surgery), & End User (Health Care Provider, Diagnostic Center) - Forecasts to 2023
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