North America Image Analysis Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment Type (On-Premises and Cloud), Image Dimension (2D, 3D, and 4D), and Industry Vertical (Healthcare and Life Science, Manufacturing, Academia

North America Image Analysis Software Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Deployment Type (On-Premises and Cloud), Image Dimension (2D, 3D, and 4D), and Industry Vertical (Healthcare and Life Science, Manufacturing, Academia, Minerals, Metals and Oil, and Others)

The image analysis software market in North America is expected to grow from US$ 1,433.45 million in 2021 to US$ 2,646.18 million by 2028; it is estimated to grow at a CAGR of 9.2% from 2021 to 2028. Companies have started to see the potential for deriving resources from unstructured data. They can use photos or videos to create a unique and engaging consumer experience in retail, entertainment, insurance claims, and other industries. Image analysis is used to support an increasing number of corporate use cases. These practical applications of deep learning and image analysis result in advancements in machine learning algorithms, the availability of datasets, and the existence of robust technology with platforms that allow real-time processing. Many airports in the US are upgrading their equipment to enable biometrics such as finger or iris scanning as an alternative security screening technique. Companies anticipate significantly increasing capacity by deploying image analysis technology to transfer passengers from arrival through security to their departure gate owing to the growth of the image analysis market.

Progress in vaccination programs and reopening of businesses are anticipated to fuel the demand for image analysis software in the coming years. While the first half of 2020 led to reduced sales revenue due to the lockdown and halted operations of several industries, the second half of 2020 witnessed a massive surge in online sales. Market players are investing in customer experience management technologies to boost sales and generate revenues. There is an increasing trend of using artificial intelligence, cloud technology, edge computing, machine learning, and Internet of things (IoT) technology in North America. Further, the advent of 5G technology, combined with IoT, is expected to create opportunities in maximizing efficiency and minimizing wastage of resources across various industry verticals. Thus, the post-COVID - 19 image analysis software market is expected to grow at a significant pace.

Based on deployment type, the North America image analysis software market is segmented into on-premises and cloud based. In 2020, the on-premise segment held a larger share of the North America image analysis software market. On-premises software is installed and operated on computers on the user's or organization's premises rather than at a remote facility such as a server farm or cloud. Because on-premise software provides better flexibility, stability, and security, several industry participants in the market are now selling on-premises software. For instance, On-Premises Imagga's visual AI solutions are available for full deployment on a company's private, local servers. Data-sensitive organizations may use Imagga's award-winning visual AI technology to perform auto-tagging, auto-categorizing, colour extraction, custom training, and facial recognition while remaining fully compliant with privacy laws and regulations.

The overall North America image analysis software market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the North America image analysis software market with respect to all the segments pertaining to the region. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants who typically take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the North America image analysis software market. ADCIS SA; Bio-Rad Laboratories, Inc; Carl Zeiss AG; CLEMEX TECHNOLOGIES INC.; Labelbox, Inc; Leica Microsystems; MEDIA CYBERNETICS, INC.; MIPAR; MVTec Software GmbH; Olympus Corporation; Oxford Instruments; PAX-IT; PerkinElmer Inc.; Scale AI, Inc.; and TISSUEGNOSTICS GMBH are among a few players operating in the North America image analysis software market.

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