Market Research

Image Recognition Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

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from $4,850 130 Pages Fortune Business Insights Pvt. Ltd. April, 2024 FOB18772842
Best Price Guarantee
Price from $4,850
Length 130 Pages
Publisher Fortune Business Insights Pvt. Ltd.
Published Date April, 2024
SKU FOB18772842

Image Recognition Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032



Growth Factors of Image Recognition Market


The image recognition market size was valued at USD 43.60 billion in 2023, and the market is now projected to grow from USD 50.36 billion in 2024 to USD 178.13 billion by 2032, exhibiting a CAGR of 17.1% during the forecast period of 2024-2032.

COVID-19 bought positive impact on the market as it promoted people to go digital. It encouraged all the big and small organization to use face pattern recognition during and after the pandemic. Traditional forms of business were converted into digital form for making it easy to work. Mode of payment also changed during pandemic due to social distancing, it shifted to online method. Many financial and banking sectors developed mobile payment systems rely on facial recognition.

Use of AI based technologies and machine learning contributed towards the image recognition market growth. Moreover, in the coming years there will be more AI based virtual recognition applications which will help in escalating the market growth. In medical market use of several healthcare applications are AI based such as chronic diseases and modern radiology interpretation which increase the demand of the image recognition applications.

This market is preferring the use of deep learning algorithms and convolutional neural networks. These algorithms deploy various AI based features to check, classify, recognise and analyze the google pixel more precisely. Integration of these neural networks and deep learning for image and video recognition to fuel image recognition market growth.

Comprehensive Analysis of Image Recognition Market

Image recognition market is divided into various segments for better understanding. Based on the component it is divided into devices, hardware and software. Based on technology, it is divided into object recognition, optical character recognition, pattern recognition and facial recognition. Based on the application, the market is divided into augmented reality, scanning and imaging, image search, and security and surveillance.Based on deployment, it is fragmented into cloud-based and on-premise. Lastly, based on end-user, it is divided into transportation and logistics, IT and telecom, BFSI, media and entertainment, and retail and e-commerce.

North America dominates the largest amount of image recognition market share due to its early adoption of AI based featured technologies for facial and pattern recognition and also due to the presence of various important market players.

The list of prominent market players such as Amazon Web Services (AWS) Inc. (U.S.), V7Labs (U.K.), NEC Corporation (Japan), NVIDIA Corporation (U.S.), Slyce Acquisition Inc. (U.S.), Clarifai, Inc (U.S.), Google LLC (U.S.), Blippar Ltd. (U.K.), Toshiba Corporation (Japan), and Huawei Cloud (China). These players help in the expansion of the market owing to various joint ventures and acquisitions of different companies.

In August 2023, introduction of Paravision Gen 6 by NIST FRVT 1:N and NIST FRVT 1:1, is to set high standards for trustworthy facial recognition technology.

Attribute Details

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 17.1% from 2024 to 2032

Unit Value (USD Billion)

Segmentation By Component

Hardware

Software

Services

Implementation

Consulting and Training

Support and Maintenance

By Technology

Code Recognition

Facial Recognition

Object Recognition

Pattern Recognition

Optical Character Recognition

By Application

Scanning and Imaging

Security and Surveillance

Image Search

Augmented Reality

Marketing and Advertising

By Deployment

On-Premise

Cloud

By End-user

BFSI

Media and Entertainment

Retail and E-commerce

IT and Telecom

Government

Healthcare

Transportation and Logistics

Others

By Region

North America (By Component, By Technology, By Application, By Deployment, By End-user, and By Country)

-U.S.

-Canada

Europe (By Component, By Technology, By Application, By Deployment, By End-user, and By Country)

-U.K.

-Germany

-France

-Italy

-Spain

-Rest of Europe

Asia Pacific (By Component, By Technology, By Application, By Deployment, By End-user, and by Country)

-China

-Japan

-India

-Southeast Asia

-Rest of Asia Pacific

Middle East & Africa (By Component, By Technology, By Application, By Deployment, By End-user, and By Country)

-GCC

-South Africa

-Rest of the Middle East & Africa

Latin America (By Component, By Technology, By Application, By Deployment, By End-user, and By Country)

-Brazil

-Mexico

-Argentina

-Rest of Latin America


1. Introduction
1.1. Definition, By Segment
1.2. Research Methodology/Approach
1.3. Data Sources
2. Executive Summary
3. Market Dynamics
3.1. Macro and Micro Economic Indicators
3.2. Drivers, Restraints, Opportunities and Trends
4. Competition Landscape
4.1. Business Strategies Adopted by Key Players
4.2. Consolidated SWOT Analysis of Key Players
4.3. Global Image Recognition Key Players Market Share/Ranking, 2023
5. Global Image Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
5.1. Key Findings
5.2. By Component (USD)
5.2.1. Hardware
5.2.2. Software
5.2.3. Services
5.2.3.1. Implementation
5.2.3.2. Consulting and Training
5.2.3.3. Support and Maintenance
5.3. By Technology (USD)
5.3.1. Code Recognition
5.3.2. Facial Recognition
5.3.3. Object Recognition
5.3.4. Pattern Recognition
5.3.5. Optical Character Recognition
5.4. By Application (USD)
5.4.1. Scanning and Imaging
5.4.2. Security and Surveillance
5.4.3. Image Search
5.4.4. Augmented Reality
5.4.5. Marketing and Advertising
5.5. By Deployment (USD)
5.5.1. On-premise
5.5.2. Cloud
5.6. By End User (USD)
5.6.1. BFSI
5.6.2. Media and Entertainment
5.6.3. Retail and E-commerce
5.6.4. IT and Telecom
5.6.5. Government
5.6.6. Healthcare
5.6.7. Transportation and Logistics
5.6.8. Others (Agriculture, Automotive, etc.)
5.7. By Region (USD)
5.7.1. North America
5.7.2. Europe
5.7.3. Asia Pacific
5.7.4. Middle East & Africa
5.7.5. Latin America
6. North America Image Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
6.1. Key Findings
6.2. By Component (USD)
6.2.1. Hardware
6.2.2. Software
6.2.3. Services
6.2.3.1. Implementation
6.2.3.2. Consulting and Training
6.2.3.3. Support and Maintenance
6.3. By Technology (USD)
6.3.1. Code Recognition
6.3.2. Facial Recognition
6.3.3. Object Recognition
6.3.4. Pattern Recognition
6.3.5. Optical Character Recognition
6.4. By Application (USD)
6.4.1. Scanning and Imaging
6.4.2. Security and Surveillance
6.4.3. Image Search
6.4.4. Augmented Reality
6.4.5. Marketing and Advertising
6.5. By Deployment (USD)
6.5.1. On-premise
6.5.2. Cloud
6.6. By End User (USD)
6.6.1. BFSI
6.6.2. Media and Entertainment
6.6.3. Retail and E-commerce
6.6.4. IT and Telecom
6.6.5. Government
6.6.6. Healthcare
6.6.7. Transportation and Logistics
6.6.8. Others
6.7. By Country (USD)
6.7.1. U.S.
6.7.2. Canada
7. Europe Image Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
7.1. Key Findings
7.2. By Component (USD)
7.2.1. Hardware
7.2.2. Software
7.2.3. Services
7.2.3.1. Implementation
7.2.3.2. Consulting and Training
7.2.3.3. Support and Maintenance
7.3. By Technology (USD)
7.3.1. Code Recognition
7.3.2. Facial Recognition
7.3.3. Object Recognition
7.3.4. Pattern Recognition
7.3.5. Optical Character Recognition
7.4. By Application (USD)
7.4.1. Scanning and Imaging
7.4.2. Security and Surveillance
7.4.3. Image Search
7.4.4. Augmented Reality
7.4.5. Marketing and Advertising
7.5. By Deployment (USD)
7.5.1. On-premise
7.5.2. Cloud
7.6. By End User (USD)
7.6.1. BFSI
7.6.2. Media and Entertainment
7.6.3. Retail and E-commerce
7.6.4. IT and Telecom
7.6.5. Government
7.6.6. Healthcare
7.6.7. Transportation and Logistics
7.6.8. Others
7.7. By Country (USD)
7.7.1. U.K.
7.7.2. Germany
7.7.3. France
7.7.4. Italy
7.7.5. Spain
7.7.6. Rest of Europe
8. Asia Pacific Image Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
8.1. Key Findings
8.2. By Component (USD)
8.2.1. Hardware
8.2.2. Software
8.2.3. Services
8.2.3.1. Implementation
8.2.3.2. Consulting and Training
8.2.3.3. Support and Maintenance
8.3. By Technology (USD)
8.3.1. Code Recognition
8.3.2. Facial Recognition
8.3.3. Object Recognition
8.3.4. Pattern Recognition
8.3.5. Optical Character Recognition
8.4. By Application (USD)
8.4.1. Scanning and Imaging
8.4.2. Security and Surveillance
8.4.3. Image Search
8.4.4. Augmented Reality
8.4.5. Marketing and Advertising
8.5. By Deployment (USD)
8.5.1. On-premise
8.5.2. Cloud
8.6. By End User (USD)
8.6.1. BFSI
8.6.2. Media and Entertainment
8.6.3. Retail and E-commerce
8.6.4. IT and Telecom
8.6.5. Government
8.6.6. Healthcare
8.6.7. Transportation and Logistics
8.6.8. Others
8.7. By Country (USD)
8.7.1. China
8.7.2. Japan
8.7.3. India
8.7.4. Southeast Asia
8.7.5. Rest of Asia Pacific
9. Middle East & Africa Image Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
9.1. Key Findings
9.2. By Component (USD)
9.2.1. Hardware
9.2.2. Software
9.2.3. Services
9.2.3.1. Implementation
9.2.3.2. Consulting and Training
9.2.3.3. Support and Maintenance
9.3. By Technology (USD)
9.3.1. Code Recognition
9.3.2. Facial Recognition
9.3.3. Object Recognition
9.3.4. Pattern Recognition
9.3.5. Optical Character Recognition
9.4. By Application (USD)
9.4.1. Scanning and Imaging
9.4.2. Security and Surveillance
9.4.3. Image Search
9.4.4. Augmented Reality
9.4.5. Marketing and Advertising
9.5. By Deployment (USD)
9.5.1. On-premise
9.5.2. Cloud
9.6. By End User (USD)
9.6.1. BFSI
9.6.2. Media and Entertainment
9.6.3. Retail and E-commerce
9.6.4. IT and Telecom
9.6.5. Government
9.6.6. Healthcare
9.6.7. Transportation and Logistics
9.6.8. Others
9.7. By Country (USD)
9.7.1. GCC
9.7.2. South Africa
9.7.3. Rest of MEA
10. Latin America Image Recognition Market Size Estimates and Forecasts, By Segments, 2019-2032
10.1. Key Findings
10.2. By Component (USD)
10.2.1. Hardware
10.2.2. Software
10.2.3. Services
10.2.3.1. Implementation
10.2.3.2. Consulting and Training
10.2.3.3. Support and Maintenance
10.3. By Technology (USD)
10.3.1. Code Recognition
10.3.2. Facial Recognition
10.3.3. Object Recognition
10.3.4. Pattern Recognition
10.3.5. Optical Character Recognition
10.4. By Application (USD)
10.4.1. Scanning and Imaging
10.4.2. Security and Surveillance
10.4.3. Image Search
10.4.4. Augmented Reality
10.4.5. Marketing and Advertising
10.5. By Deployment (USD)
10.5.1. On-premise
10.5.2. Cloud
10.6. By End User (USD)
10.6.1. BFSI
10.6.2. Media and Entertainment
10.6.3. Retail and E-commerce
10.6.4. IT and Telecom
10.6.5. Government
10.6.6. Healthcare
10.6.7. Transportation and Logistics
10.6.8. Others
10.7. By Country (USD)
10.7.1. Brazil
10.7.2. Mexico
10.7.3. Argentina
10.7.4. Rest of Latin America
11. Company Profiles for Top 10 Players (Based on data availability in public domain and/or on paid databases)
11.1. Amazon Web Services (AWS) Inc.
11.1.1. Overview
11.1.1.1. Key Management
11.1.1.2. Headquarters
11.1.1.3. Offerings/Business Segments
11.1.2. Key Details (Key details are consolidated data and not product/service specific)
11.1.2.1. Employee Size
11.1.2.2. Past and Current Revenue
11.1.2.3. Geographical Share
11.1.2.4. Business Segment Share
11.1.2.5. Recent Developments
11.2. V7Labs
11.2.1. Overview
11.2.1.1. Key Management
11.2.1.2. Headquarters
11.2.1.3. Offerings/Business Segments
11.2.2. Key Details (Key details are consolidated data and not product/service specific)
11.2.2.1. Employee Size
11.2.2.2. Past and Current Revenue
11.2.2.3. Geographical Share
11.2.2.4. Business Segment Share
11.2.2.5. Recent Developments
11.3. NEC Corporation
11.3.1. Overview
11.3.1.1. Key Management
11.3.1.2. Headquarters
11.3.1.3. Offerings/Business Segments
11.3.2. Key Details (Key details are consolidated data and not product/service specific)
11.3.2.1. Employee Size
11.3.2.2. Past and Current Revenue
11.3.2.3. Geographical Share
11.3.2.4. Business Segment Share
11.3.2.5. Recent Developments
11.4. NVIDIA Corporation
11.4.1. Overview
11.4.1.1. Key Management
11.4.1.2. Headquarters
11.4.1.3. Offerings/Business Segments
11.4.2. Key Details (Key details are consolidated data and not product/service specific)
11.4.2.1. Employee Size
11.4.2.2. Past and Current Revenue
11.4.2.3. Geographical Share
11.4.2.4. Business Segment Share
11.4.2.5. Recent Developments
11.5. Slyce Acquisition Inc.
11.5.1. Overview
11.5.1.1. Key Management
11.5.1.2. Headquarters
11.5.1.3. Offerings/Business Segments
11.5.2. Key Details (Key details are consolidated data and not product/service specific)
11.5.2.1. Employee Size
11.5.2.2. Past and Current Revenue
11.5.2.3. Geographical Share
11.5.2.4. Business Segment Share
11.5.2.5. Recent Developments
11.6. Clarifai, Inc.
11.6.1. Overview
11.6.1.1. Key Management
11.6.1.2. Headquarters
11.6.1.3. Offerings/Business Segments
11.6.2. Key Details (Key details are consolidated data and not product/service specific)
11.6.2.1. Employee Size
11.6.2.2. Past and Current Revenue
11.6.2.3. Geographical Share
11.6.2.4. Business Segment Share
11.6.2.5. Recent Developments
11.7. Google LLC
11.7.1. Overview
11.7.1.1. Key Management
11.7.1.2. Headquarters
11.7.1.3. Offerings/Business Segments
11.7.2. Key Details (Key details are consolidated data and not product/service specific)
11.7.2.1. Employee Size
11.7.2.2. Past and Current Revenue
11.7.2.3. Geographical Share
11.7.2.4. Business Segment Share
11.7.2.5. Recent Developments
11.8. Blippar Ltd.
11.8.1. Overview
11.8.1.1. Key Management
11.8.1.2. Headquarters
11.8.1.3. Offerings/Business Segments
11.8.2. Key Details (Key details are consolidated data and not product/service specific)
11.8.2.1. Employee Size
11.8.2.2. Past and Current Revenue
11.8.2.3. Geographical Share
11.8.2.4. Business Segment Share
11.8.2.5. Recent Developments
11.9. Toshiba Corporation
11.9.1. Overview
11.9.1.1. Key Management
11.9.1.2. Headquarters
11.9.1.3. Offerings/Business Segments
11.9.2. Key Details (Key details are consolidated data and not product/service specific)
11.9.2.1. Employee Size
11.9.2.2. Past and Current Revenue
11.9.2.3. Geographical Share
11.9.2.4. Business Segment Share
11.9.2.5. Recent Developments
11.10. Huawei Cloud
11.10.1. Overview
11.10.1.1. Key Management
11.10.1.2. Headquarters
11.10.1.3. Offerings/Business Segments
11.10.2. Key Details (Key details are consolidated data and not product/service specific)
11.10.2.1. Employee Size
11.10.2.2. Past and Current Revenue
11.10.2.3. Geographical Share
11.10.2.4. Business Segment Share
11.10.2.5. Recent Development

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