Image Recognition Market Projected to Reach USD 128.28 Billion by 2030 – New Analysis Unveiled

Dublin, Dec. 05, 2023 (GLOBE NEWSWIRE) -- The "Image Recognition Market Size, Share & Trends Analysis Report By Technique, By Application, By Component (Hardware, Software), By Deployment Mode, By Vertical, By Region, And Segment Forecasts, 2023 - 2030" report has been added to's offering.

The global image recognition market is poised for significant growth, with an anticipated compound annual growth rate (CAGR) of 13.4% from 2023 to 2030. Primed to reach a value of USD 128.28 billion by the end of the forecast period, the latest industry report offers an insightful look at future market trajectories and current trends shaping this dynamic space.

Image recognition technology has become integral to various applications across industries, from enhanced security measures to novel marketing strategies. The tech, bolstered by advancements in artificial intelligence, has become a staple in sectors such as gaming, social media, e-commerce, and beyond, offering businesses new avenues for growth.

Key Report Highlights:

  • Facial recognition technology captures the lion's share in the market, attributed to heightened security initiatives across several industries.
  • Marketing and advertising applications lead the market, signifying a trend where businesses harness image recognition for improved consumer engagement.
  • Service components claim the largest revenue share, indicative of the increasing reliance on expert solutions for complex image recognition needs.
  • The adoption of cloud-based image recognition solutions is on the rise, spotlighting a shift towards more flexible, scalable deployment modes.
  • Retail & e-commerce verticals show dominant market performance, reflecting the pivotal role of image recognition in enhancing the digital shopping experience.
  • North America emerges as the leading market, largely due to technological adoption and integration within the retail sector.

The prevalence of digital cameras and mobile computing platforms has produced immense volumes of visual data, fostering a robust environment for image recognition to thrive. This rise in digital content, alongside sector-specific advancements like biometric payment technologies and AI-powered identification platforms, underscores the market's vigorous expansion.

Despite the excitement surrounding its potential, the report also sheds light on challenges like data processing and hardware capabilities that are critical to the realization of accurate and reliable image recognition systems. Strategic partnerships and technological initiatives, as revealed in the analysis, illustrate the industry’s ongoing efforts to surmount these obstacles.

As businesses and consumers alike demand more intelligent, automated, and convenient solutions, the image recognition market is set to usher in a new era of innovation and service excellence. The comprehensive analysis provides a detailed scenario of market shares, growth opportunities, and technological integrations that are shaping the future landscape.

Enriched with strategic insights and high-growth trends, this latest report serves as an invaluable resource for stakeholders interested in understanding the evolving image recognition market and its myriad applications.

Key Attributes:

Report AttributeDetails
No. of Pages150
Forecast Period2022 - 2030
Estimated Market Value (USD) in 2022$45.02 Billion
Forecasted Market Value (USD) by 2030$128.28 Billion
Compound Annual Growth Rate13.4%
Regions CoveredGlobal

Key Topics Covered:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Image Recognition Market Variables, Trends & Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.4. Image Recognition Market Analysis Tools

Chapter 4. Image Recognition Market: Technique Estimates & Trend Analysis
4.1. Image Recognition Market: Key Takeaways
4.2. Image Recognition Market: Movement & Market Share Analysis, 2022 & 2030
4.3. QR/Barcode Recognition
4.4. Object Recognition
4.5. Facial Recognition
4.6. Pattern Recognition
4.7. Optical Character Recognition

Chapter 5. Image Recognition Market: Application Estimates & Trend Analysis
5.1. Image Recognition Market: Key Takeaways
5.2. Image Recognition Market: Movement & Market Share Analysis, 2022 & 2030
5.3. Augmented Reality
5.4. Scanning & Imaging
5.5. Security & Surveillance
5.6. Marketing & Advertising
5.7. Image Search

Chapter 6. Image Recognition Market: Component Estimates & Trend Analysis
6.1. Image Recognition Market: Key Takeaways
6.2. Image Recognition Market: Movement & Market Share Analysis, 2022 & 2030
6.3. Hardware
6.4. Software
6.5. Service Managed Professional Training, support, and maintenance

Chapter 7. Image Recognition Market: Deployment Mode Estimates & Trend Analysis
7.1. Image Recognition Market: Key Takeaways
7.2. Image Recognition Market: Movement & Market Share Analysis, 2022 & 2030
7.3. On-Premises
7.4. Cloud

Chapter 8. Image Recognition Market: Vertical Estimates & Trend Analysis
8.1. Image Recognition Market: Key Takeaways
8.2. Image Recognition Market: Movement & Market Share Analysis, 2022 & 2030
8.3. Retail & E-commerce
8.4. Media & Entertainment
8.5. BFSI
8.6. Automobile & Transportation
8.7. Telecom & IT
8.8. Government
8.9. Healthcare

Chapter 9. Image Recognition Market: Regional Estimates & Trend Analysis

Chapter 10. Competitive Landscape

  • Blinkfire Analytics
  • Gumgum
  • Kairos AR
  • SparkTrendz
  • Cloudsight
  • Chooch
  • Google
  • Attrasoft
  • Catchroom
  • Hitachi
  • Honeywell
  • LTUTech
  • NEC
  • Qualcomm Technologies
  • Slyce Acquisition
  • Wikitude

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