Market Size in 2018 | Market Forecast in 2025 | CAGR (in %) | Base Year |
---|---|---|---|
USD 16.85 billion | USD 39.87 billion | 18.3% | 2018 |
The global image recognition market size was around USD 16.85 billion in 2018 and is expected to reach approximately USD 39.87 billion by 2025, at a CAGR of around 18.3% between 2019 and 2025.
The report covers a forecast and an analysis of the image recognition market on a global and regional level. The study provides historical data from 2015 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints of the image recognition market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities and threats to the image recognition market on a global level.
To understand the competitive landscape in the market, an analysis of Porter’s Five Forces model has also been included. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The global image recognition market is divided based on technology, component, application, deployment, and industry vertical.
By technology, the global image recognition market includes code recognition, digital image processing, facial recognition, object recognition, pattern recognition, and optical character recognition. The facial recognition segment is predicted to account for a significant share of the global market. The component segment of the market includes hardware, services, and software.
By application, the global image recognition market is classified as scanning & imaging, security, and surveillance, image search, augmented reality, and marketing and advertising. The security and surveillance segment accounted for the dominant market share, owing to the technological benefits like security and protection of virtual data and forensic identification. Cloud and on-premises comprise the deployment segment of the market.
By industry vertical, the global image recognition market is classified into BFSI, media and entertainment, retail and consumer goods, IT and telecom, government, healthcare, transportation and logistics, and others. The media and entertainment segment accounted for a dominant share in the global market in 2018, due to the rising use of image recognition in movies, social media, and gaming.
By geography, the North American image recognition market is projected to grow substantially over the forecast time period, owing to the growing use of image recognition in malls, e-commerce platforms, and government work and increasing investments made for technological developments.
Report Attributes | Report Details |
---|---|
Report Name | Image Recognition Market Research Report |
Market Size in 2018 | USD 16.85 billion |
Market Forecast in 2025 | USD 39.87 billion |
Growth Rate | CAGR of 18.3% |
Number of Pages | 214 |
Key Companies Covered | Google, Honeywell International, Hitachi, LTU Technologies, Slyce, NEC Corporation, Qualcomm Incorporated, Catchoom, Wikitude, and Tetrasoft. |
Segments Covered | By Technology, By Component, By Application, By Deployment, By Industry Vertical, And By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2018 |
Historical Year | 2012 to 2017 |
Forecast Year | 2019 - 2025 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Some key players of the global image recognition market are Google, Honeywell International, Hitachi, LTU Technologies, Slyce, NEC Corporation, Qualcomm Incorporated, Catchoom, Wikitude, and Tetrasoft.
The global image recognition market is segmented as follows:
By Technology
By Component
By Application
By Deployment
By Industry Vertical
By Region
FrequentlyAsked Questions
Image recognition is a software device that is used to recognize the place, object, writing, actions, machine-based tasks, etc. Image recognition mainly includes camera and artificial intelligence, which helps to complete the process of image recognition.
The global Image Recognition Market size was worth around USD 16.85 billion in 2018 and is predicted to grow to around USD 39.87 billion by 2025.
The CAGR value of the Image Recognition Market is expected to be around 18.3% during 2019-2025.
North American image recognition market is projected to grow substantially over the forecast time period, owing to the growing use of image recognition in malls, e-commerce platforms, and government work and increasing investments made for technological developments.
Some key players of the global image recognition market are Google, Honeywell International, Hitachi, LTU Technologies, Slyce, NEC Corporation, Qualcomm Incorporated, Catchoom, Wikitude, and Tetrasoft.
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