Market Size – USD 25.67 Billion in 2020, Market Growth – at a CAGR of 15.3%, Market Trends – Advancements in technology
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.
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.
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Some Key Highlights in the Report
Emergen Research has segmented the global image recognition market on the basis of component, application, deployment mode, technique, industry vertical, and region:
Regional Bifurcation:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Factors influencing market remuneration:
Table of Content
Chapter 1. Methodology & Sources 1.1. Market Definition 1.2. Research Scope 1.3. Methodology 1.4. Research Sources 1.4.1. Primary 1.4.2. Secondary 1.4.3. Paid Sources 1.5. Market Estimation Technique Chapter 2. Executive Summary 2.1. Summary Snapshot, 2020-2028 Chapter 3. Key Insights Chapter 4. Image Recognition Market Segmentation & Impact Analysis 4.1. Image Recognition Market Material Segmentation Analysis 4.2. Industrial Outlook 4.2.1. Market indicators analysis 4.2.2. Market drivers analysis 4.2.2.1. Rising demand for security applications and products enabled with image recognition functions 4.2.2.2. Increasing need for image recognition in the automotive industry 4.2.3. Market restraints analysis 4.2.3.1. High installation cost of image recognition solutions 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 5. Image Recognition Market By Component Insights & Trends, Revenue (USD Billion) 5.1. Component Dynamics & Market Share, 2021 & 2028 5.1.1. Hardware 5.1.2. Software 5.1.3. Services
Chapter 6. Image Recognition Market By Application Insights & Trends Revenue (USD Billion) 6.1. Application Dynamics & Market Share, 2021 & 2028 6.1.1. Security and Surveillance 6.1.2. Scanning and Imaging 6.1.3. Augmented Reality 6.1.4. Image Search 6.1.5. Marketing and Advertising
CONTINUED…!!
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