Computer vision is already a mature technology that continues to expand. According to Statista, the market size forecast is $26.26 billion for 2024, and the rise over 11% by 2030. Growing demand for automation, enhanced decision-making, and user experiences across various industry verticals support these figures. Businesses want to have reliable and efficient computer vision applications capable of processing large-scale datasets in real time. The article prepared by computer vision company OpenCV.ai talks about the power of technology to create new opportunities and increase business value.
The technology continues to evolve and strengthen its position in the digital market. It offers numerous benefits that are not limited to automating and improving standard tasks but also empower process transformation and new solutions development. Computer vision applications are becoming more accurate and productive. Besides that, incorporation with other technologies like Virtual Reality (VR), Augmented Reality (AR), IoT (Internet of Things), and Edge computing provides additional development opportunities.
What is good about computer vision technology?
Computer vision algorithms execute commands like object detection, recognition, tracking, and classification, showing high accuracy, speed, and efficiency. They also identify patterns and anomalies that the human eye does not see. And do it in real time and on a massive scale. As a result, you get less manual labor, higher productivity, fewer errors, more reliable decision-making, and overall output quality. Businesses can save costs and time due to more efficient resource utilization and proactive problem-solving.
Another advantage of using computer vision technology is the ability to gain valuable information about customer behavior, operations, and environment. Understanding these insights facilitates data-driven decision-making and forecasting. In addition, the integration with IoT and Machine Learning (ML) extends analytics capabilities.
And don’t forget about customer experience. Computer vision allows you to incorporate features like advanced image search, virtual try-on, face recognition, and personalized recommendations into the applications. Due to enhanced user engagement and diverse experience, companies gain more satisfied customers and higher conversion rates Moreover, they can better understand their customers’ preferences and empower personalization.
Computer vision technology fuels innovation for developing new products and services and altering user experience across all industry verticals. For example, immersive and interactive applications for gaming, education, training, and entertainment. Or hands-free application for smart homes providing enhanced usability and accessibility. Computer vision-powered tools can analyze visual content and apply artistic effects and filters to images and videos, enabling artists, designers, and other content creators to express their creativity even more.
Top computer vision solutions for your business
Сomputer vision offers various solutions. When considering one for your business, align it with your specific needs and goals. The basic role belongs to object detection and recognition, meaning that software analyzes images or videos and recognizes objects or patterns. Such solutions can be applied by various industries. Here are some examples.
Inventory management for manual process automation
Inventory management and quality control in logistics and manufacturing. Computer vision can replace manual barcode scanning and automate item tracking. Its algorithms work even when codes are damaged or poorly visible. In addition, warehouse workers can use the system to determine the exact size of packages and make the most efficient use of space. Another side is the detection of damaging items, incorrect labels, and problems with packaging. In this case, the business can reduce costs by automating operations, early detection of issues, optimizing warehouse space, and reducing the cost of troubleshooting.
Virtual try-on for enhanced user experience
In e-commerce, computer vision is part of virtual try-on technology. The camera captures the user’s image or video, and the app overlays digital representations of the items, including clothes, accessories, and make-up. It provides customers with a more engaging and interactive shopping experience. Besides that, they can make a more informed decision on the purchases by trying different styles, colors, and sizes. E-commerce providers get higher conversion rates, fewer returns, and satisfied customers.
Analysis of animal behavior in agriculture
Object detection goes beyond humans and items. Animals also can be analyzed. Together with Machine learning, computer vision algorithms recognize their behaviour. Their shape, size, color, texture, and motion characteristics. This solution may bring value to agriculture. To do this, you need to install computer vision systems around the perimeter of barns, paddocks, or pastures. And they will continuously monitor the behavior of livestock in real time. Because deviations from normal behavior often indicate health issues. Farmers may notice such changes in their diet, movement, and other signs of discomfort. Early detection of health problems ensures timely intervention and veterinary care.
Ensuring workplace safety
Another capability of computer vision is gesture and motion recognition. All movements are captured through various sensors, cameras, or specialized devices. The algorithm classifies the data according to the set values in real time and provides its report. An example is workplace safety in a warehouse, manufacturing facility, or medical laboratory. Computer vision systems can monitor the space to detect employee injury, unauthorized access, suspicious activity, and other incidents. This ensures a quick response and mitigation of the consequences.
Motion tracking for effective sports
One more use case for this solution is sports. Motion tracking makes training and fitness more effective. Computer vision algorithms determine the correct body position in each exercise or sports element and count the number of sets. Then, the system gives recommendations on what needs to be corrected or improved and alerts on possible injuries. Different parameters come for different training levels and health conditions.
The solution can be applied to any sport, making FitWise by OpenCV.ai a universal for fitness, sports, and wellness businesses. Coaches, athletes, sports scientists, and users of fitness apps can get advanced experience, design personalized training programs, and optimize training loads. Motion tracking technology is also helpful for biomechanical research. Scientists may study human movement and muscle activation patterns. This study contributes to the understanding of human performance and injury mechanisms.
Autonomous vehicle control system
Autonomous vehicles shine bright in the digital landscape. Here, computer vision performs a significant role. Through in-vehicle cameras and sensors, it helps see and understand the world around them in real time. Other vehicles, pedestrians, cyclists, road signs, traffic lights, and obstacles – all these can be detected. In combination with several technologies, the car becomes intelligent and can perceive and interpret the environment, predict the actions of other objects, and adjust its own movement. There can be warehouse loaders, taxis, delivery robots, and scouts.
The use cases of computer vision solutions are wider than those listed above. Other examples include facial recognition for surveillance and access control systems, medical imaging for disease detection and treatment planning, environmental monitoring, and many others.
Final words
Computer vision solutions present numerous opportunities for businesses across diverse industries. From optimizing internal operations to revolutionizing customer experiences – there are tons of use cases. When choosing one for your conditions, consider your technical capabilities, scalability, integration capabilities, and data privacy and security requirements. By carefully assessing these factors and choosing the right solution, businesses can open up new opportunities and stimulate growth in today’s digital world.
If you want to read more articles like this, check out these two articles: Revolutionizing Computer Vision: Advancements, Challenges, and Future Directions and Best Computer Vision Courses 2024.
