The global image recognition market size was valued at USD 53.3 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 13.4% from 2024 to 2030. This growth is attributed to the increasing volumes of image data, advancements in artificial intelligence (AI) and machine learning (ML), and the growing demand for automation across various sectors are pivotal. In addition, the integration of image recognition in applications such as healthcare, retail, and security enhances operational efficiency and customer engagement. Furthermore, the rise of edge computing and mobile solutions further supports market expansion.
Image recognition technology, powered by machine learning, has been embedded in several fields, such as self-driving vehicles, automated image organization of visual websites, and face identification on social networking websites. One of the most popular applications of image identification is social media monitoring, as visual listening and visual analytics are essential factors of digital marketing. Image recognition is highly used in applications related to safety and security, such as facial recognition used by law enforcement agencies. Furthermore, airports are increasingly using face remembrance technology at security checkpoints.
Gather more insights about the market drivers, restrains and growth of the Global image recognition market
Image Recognition Market Segments Highlights:
- Facial recognition dominated the market and accounted for the largest revenue share of 22.5% in 2023. The increasing demand for enhanced security measures across various industries, such as government, banking, and retail, has significantly contributed to the dominance of facial recognition systems.
- The pattern recognition segment is predicted to grow at a CAGR of 14.0% over the forecast period. The rise of artificial intelligence and machine learning has significantly contributed to its importance.
- The service segment led the market and accounted for the largest revenue share of 39.1% in 2023. The service segment offers tailored image recognition solutions that can be customized to meet the specific needs of businesses across various industries.
- The software segment is projected to grow significantly over the forecast period.
- The cloud segment held the largest market revenue share of 71.6% in 2023. The rise in the cloud-based market is due to its greater use in industries needing centralized monitoring, such as BFSI, media, government, and entertainment.
- The on-premises segment is estimated to grow with the fastest CAGR over the forecast period. On-premise image recognition solutions allow organizations to customize and tailor the software to their needs.
- The retail & e-commerce segment dominated the market with a share of 21.0% in 2023. E-commerce websites prioritize content management to enhance their product offerings and boost sales.
- The healthcare segment is anticipated to grow at the fastest CAGR over the forecast period. Image recognition technology streamlines and automates several aspects of healthcare workflows.
- The marketing & advertising segment held the largest market share of 29.6% in 2023. Many businesses adopted technology with advanced advertising, customer interaction, and branding to improve their marketing activities.
- The security & surveillance segment is projected to grow significantly over the forecast period. Image recognition is essential for security and surveillance purposes, such as implementing facial recognition for monitoring and access control.
- North America image recognition market dominated the global market and accounted for the largest revenue share of 34.0% in 2023.
- The image recognition market in the U.S. dominated the North American market in 2023 attributed to the rising use of AI and ML technologies in many sectors boosted the need for advanced image recognition solutions.
- Europe image recognition market is expected to witness lucrative growth over the forecast period, owing to advancements in automobile obstacle-detection technologies.
- The image recognition market in the Asia Pacific is anticipated to grow significantly over the forecast period. This growth is attributed to the increasing use of mobiles and tablets, rapid technological advancements, and the popularity of online streaming in emerging economies, such as China and India.
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Image Recognition Market Segmentation
Grand View Research has segmented the global image recognition market based on technique, application, component, deployment mode, vertical, region:
Image Recognition Technique Outlook (Revenue, USD Million, 2017 - 2030)
- QR/ Barcode Recognition
- Object Recognition
- Facial Recognition
- Pattern Recognition
- Optical Character Recognition
Image Recognition Application Outlook (Revenue, USD Million, 2017 - 2030)
- Augmented Reality
- Scanning & Imaging
- Security & Surveillance
- Marketing & Advertising
- Image Search
Image Recognition Component Outlook (Revenue, USD Million, 2017 - 2030)
- Hardware
- Software
- Service
- Managed
- Professional
- Training, Support, and Maintenance
Image Recognition Deployment Mode Outlook (Revenue, USD Million, 2017 - 2030)
- Cloud
- On-Premises
Image Recognition Vertical Outlook (Revenue, USD Million, 2017 - 2030)
- Retail & E-commerce
- Media & Entertainment
- BFSI
- Automobile & Transportation
- IT & Telecom
- Government
- Healthcare
- Others
Image Recognition Regional Outlook (Revenue, USD Million, 2017 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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