OPENCV is the library of algorithms of computer vision, image processing and numerical algorithms implemented at C / C ++. It is designed for real-time applications. OpenCV is supports Matlab. Makes sense to use it if speed of algorithm execution is really important.
Open CV is a computer vision library which gives u functions to image and video processing in C/C++.
It is kind of simplified directshow with many image and video processing function.
You can build very powerful algorithms which will give you very good efficiency as compared to vision tool box of matlab.
You can also build commercial applications with it because it has BSD licensing so kind of open source.
Coming to Matlab ,it is good and very easy but lack effiency and speed.
Since matlab is a scripting language unlike Opencv which gets complied.
It is difficult to make video conferencing or any other video processing efficient since you can see any encoder is always built using c/c++ rather I would say c because it is more close to assembly.
so if you are trying to just do some research and analysis then go for matlab
But if you want to make a commercial software then go for opencv as you can include other c libraries if needed.
But you will have little hard time learning opencv if you are a beginner in c/C++
Both are powerful tools, however, as Matlab is not compiled it loses in performance. On the other hand, it makes easier to work with matrices and to prototype algorithms.
An efficient approach is to use Matlab as prototyping tool and "translate" the code to OpenCV to create the final product.
Matlab can be very fast and efficient, IF you can write it correctly. "Correct" Matlab isn't always the obvious way.
Matlab is distributed as the main application plus a number of toolboxes. They are all sold separately and are quite costly. The functions you need in your code might be available from the application or any of the toolboxes. When you run your code, Matlab will dynamically get a licence for any toolboxes you need. Depending on the size of the organization you work for, there may or may not be a licence available, so there's no guarantee that your code will run.
So my preference is for OpenCV, although it takes some effort to get started, it's worth it eventually.