Image recognition Market Share, Industry Growth, Trend, Key Companies by 2028


Rising adoption of Machine Learning and Artificial Intelligence in various applications and solutions are some key factors is driving growth of the image recognition market.

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The global 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. Increasing usage of smartphones globally and rising adoption of Virtual Reality (VR) and Augmented Reality (AR) are key factors driving growth of the global image recognition market. The comprehensive study covers hard to find facts about the market landscape as well as its growth prospects in the years to come. 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.

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The current COVID-19 pandemic is expected to have an effect on the growth of the Image recognition industry majorly attributable to the movement restrictions and impact on the supply and demand due to the lockdowns. The report covers the impact analysis of the COVID-19 pandemic on the overall Image recognition industry. The COVID-19 pandemic has affected several sectors of the global market, and the Image recognition sector is expected to feel the impact of the pandemic. The economic slowdown and dynamic changes in the demands will further affect the growth of the industry. Most importantly, the research report includes vital statistics about the major vendors occupying a strong foothold in this industry. Besides this, in order to calculate the market share, the study takes a closer look at the selling price of the product across different regions

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In market segmentation by geographical regions, the report has analysed the following regions-       

    North America (USA, Canada and Mexico)

    Europe (Germany, France, UK, Russia and Italy)

    Asia-Pacific (China, Japan, Korea, India and Southeast Asia)

South America (Brazil, Argentina, Columbia etc.)

    Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

Scope of the Report:

The IMAGE RECOGNITION market is further segmented in terms of applications, end-user, end-use, geographic presence, by-products as well as services. In addition, the subject matter experts evaluating the industry provide an all-inclusive category-specific industry outlook. A comprehensive collection of data on major companies occupying a strong foothold in the industry adds immense value to the overall research. The assessment of the wining strategies followed by these companies can help business owners not only strategize but also execute business operations by referring the statistics about competitor analysis. Careful assessment of the industry analysis across different regions along with vital information on the market size, share and growth rate makes this report a wonderful resource for business evangelists.

The global Image recognition market consists of various segments, including product type outlook, application spectrum, end-user overview, leading regions, and the competitive analysis. The report further provides information regarding the value chain, emerging market sectors, and the technological advancements in the industry to benefit readers and businesses looking to invest in this industry.

Emergen Research has segmented the global image recognition market on the basis of component, application, deployment mode, technique :

  • Component Outlook (Revenue, USD Billion; 2018–2028)
    • Software
    • Hardware
    • Services
  • Application Outlook (Revenue, USD Billion; 2018–2028)
    • Marketing and Advertising
    • Security and Surveillance
  • Deployment Mode Outlook (Revenue, USD Billion; 2018–2028)
    • Cloud
    • On-premises
  • Technique Outlook (Revenue, USD Billion; 2018–2028)
    • Pattern Recognition
    • Object Recognition

 

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About Us:

At Emergen Research, we believe in advancing with technology. We are a growing market research and strategy consulting company with an exhaustive knowledge base of cutting-edge and potentially market-disrupting technologies that are predicted to become more prevalent in the coming decade.

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