The global ai image recognition market size is expected to reach USD 80.29 Billion at a steady CAGR of 15.3% in 2028, according to latest analysis by Emergen Research. The report provides detailed insights into ai image recognition market size, market trends, industry trends, consumer trends, market forecast, revenue share growth, along with ranging impacts of each driver on market size. It also provides analysis of various factors expected to restrain or limit potential growth in ai image recognition market size over the forecast period, 2020–2028. The report includes profiles of major players in the ai image recognition market, strategies being employed/deployed, mergers, acquisitions, recent developments, agreements, contracts, new product development and launches, segment revenue, investment details as well as financials. Increasing usage of smartphones globally and rising adoption of Virtual Reality (VR) and Augmented Reality (AR) are key factors driving growth of the global ai image recognition market.
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In February 2020, Department of Homeland Security officials detailed the use of facial recognition technologies by the administration across the U.S. To date, over 43.7 million individuals have been scanned at border crossings, outbound ships, and elsewhere by various systems. Global ai image recognition market size expansion is significantly supported by contribution from major segments and increasing deployment in a range of applications.While conducting primary research, the researchers observed that the rapid growth of the ai image recognition market through the forecast duration is driven by the niche and emerging opportunities for the producers engaged in the worldwide ai image recognition market. Other factors include growing demand for face recognition in tablets, smartphones, and personal computers due to technological advancements. Increasing budgets for homeland security and defense spending by government in countries such as China, Russia, and India is also contributing to growth of the market to a significant extent. The worldwide ai image recognition market has been categorized as product, end-user, and major geographic regions.
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Emergen Research has segmented the global ai image recognition market on the basis of component, application, deployment mode, technique, industry vertical, and region:
- Component Outlook (Revenue, USD Billion; 2018–2028)
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Security and Surveillance
- Scanning and Imaging
- Augmented Reality
- Image Search
- Marketing and Advertising
- Deployment Mode Outlook (Revenue, USD Billion; 2018–2028)
- Technique Outlook (Revenue, USD Billion; 2018–2028)
- Object Recognition
- QR/ Barcode Recognition
- Pattern Recognition
- Facial Recognition
- Optical Character Recognition
- Industry Vertical Outlook (Revenue, USD Billion; 2018–2028)
- Media & Entertainment
- Retail & E-commerce
- IT & Telecom
- Automobile & Transportation
- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest Of MEA
- North America
Region wise performance of the Image recognition industry
In terms of ai image recognition market size, North America is expected to remain dominant among the other regional markets over the forecast period. Presence of major companies in countries in the region is a key factor supporting ai image recognition market size growth.
Asia Pacific ai image recognition market size is expected to remain steady, and register fastest revenue growth rate between 2020 and 2028. Rapid revenue growth rate in countries such as China and India is attributable to rapid growth in ai image recognition market size in Asia Pacific, and the trend is expected to continue going ahead.
Continuous developments in countries in Europe is expected to support growth in regional market size over the forecast period.
Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:
- United States
- Southeast Asia
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Some Key Highlights in the Report
- The software segment accounted for largest revenue share in 2020 due to a sudden and rapid increase in adoption of image recognition software in computer graphics, medical imaging, and photo editing, among others. Rapidly growing trends of industry automation and Industry 4.0 are driving adoption of image recognition software, and the trend is expected to continue over the forecast period.
- Image recognition or tracking is used in augmented reality to track, detect, and augment 2D images. Image tracking is dependent on advanced computer vision technology to track and augment images. Jack Daniels augmented reality app turns whisky bottles into pop-out storybooks. The free app uses a tablet or smartphone camera to recognize the sticker on the bottle and unfolds the whole manufacturing process of the drink in a matching black and white pop-up book.
- Image recognition is an important tool in autonomous vehicles used by Uber and Google. The technology detects road signs and obstacles through sensors in front of a vehicle and identifies these with the help of this technology. Computer vision systems powered by deep learning are trained with thousands of images of humans, road signs, and obstacles on the road under different weather and lighting conditions. The intelligence of the system continues to increase as new information is fed in.
The research provides answers to the following key questions:
- What will be the growth rate and the market size of the Image recognition industry for the forecast period 2020-2027?
- What are the major driving forces expected to impact the development of the ai image recognition market across different regions?
- Who are the major driving forces expected to decide the fate of the Image recognition industry worldwide?
- Who are the prominent market players making a mark in the ai image recognition market with their winning strategies?
- Which Image recognition industry trends are likely to shape the future of the industry during the forecast period 2020-2027?
- What are the key barriers and threats believed to hinder the development of the industry?
- What are the future opportunities in the ai image recognition market?
Table of Content
Chapter 1. Methodology & Sources
1.1. ai image recognition market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. ai image recognition market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2021-2028
Chapter 3. Key Insights
Chapter 4. ai image recognition market Segmentation & Impact Analysis
4.1. ai image recognition market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. ai image recognition market indicators analysis
4.2.2. ai image recognition market drivers analysis
184.108.40.206. Rapid urbanization and industrialization
220.127.116.11. Stringent government regulations regarding carbon emissions
18.104.22.168. Increasing prevalence of respiratory diseases
22.214.171.124. Rising need to enhance indoor air quality
4.2.3. ai image recognition market restraints analysis
126.96.36.199. High cost associated with the maintenance of Image recognition products
188.8.131.52. Availability of renewable sources of energy
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
Chapter 10. Competitive Landscape
10.1. ai image recognition market Revenue Share By Manufacturers
10.2. Mergers & Acquisitions
10.3. Competitor’s Positioning
10.4. Strategy Benchmarking
10.5. Vendor Landscape
10.5.1. Raw Material Suppliers
10.5.1.1. North America
10.5.1.3. Asia Pacific
10.5.1.4. Middle East & Africa
10.5.1.5. Latin America
10.5.2.1. North America
10.5.2.3. Asia Pacific
10.5.2.4. Middle East & Africa
10.5.2.5. Latin America
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