Global Image Recognition Market

Image Recognition Market Size, Share, Growth Analysis, By Offering, By Technology, By Organization Size, By Application, By Region - Industry Forecast 2025-2032


Report ID: SQSG45F2030 | Region: Global | Published Date: December, 2024
Pages: 165 | Tables: 117 | Figures: 77

Image Recognition Market Competitive Landscape

To acquire a competitive advantage in the market, vendors are concentrating on growing their client gain. Vendors are therefore undertaking a number of strategic efforts, such as improving their goods by including new features, working together, making acquisitions and mergers, and forming relationships with other significant market participants.

Image Recognition Market Top Player’s Company Profiles

  • Google  
  • Qualcomm  
  • AWS  
  • Microsoft  
  • Toshiba  
  • NVIDIA  
  • Oracle  
  • NEC Corporation  
  • Huawei  
  • Hitachi  
  • Trax  
  • STMicroelectronics  
  • ON Semiconductor Corporation  
  • Snap2Insight  
  • Attrasoft  
  • Sterison  
  • ParallelDots  
  • Vue.ai  
  • Ximilar  
  • Imagga Technologies

Image Recognition Market Recent Development

  • In June 2021, To assist businesses in navigating many parts of the return-to-workplace difficulty brought on by lockdowns implemented to halt the spread of COVID-19, IBM developed Watson Works, a curated set of products that incorporate Watson's AI models and applications.
  • In April 2021, Coca-Cola collaborated with Microsoft. Through the cooperation, the company will be able to control its business operations on the Microsoft Azure cloud and give new, rich digital experiences that will yield creative solutions. With the use of these solutions, the Coca-Cola Company will be able to gain new insights from data throughout the entire organization, providing a 360-degree perspective of the company and improving the experiences of both customers and employees.
  • In March 2021, To merge the technology of the two businesses, serve the demands of new food stores, and improve its position in image identification in the retail industry, Trax purchased Survey.com.
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FAQs

Image Recognition Market size was valued at USD 42.69 Billion in 2023 and is poised to grow from USD 50.5 Billion in 2024 to USD 209.51 Billion by 2032, growing at a CAGR of 18.3% during the forecast period (2025-2032).

To acquire a competitive advantage in the market, vendors are concentrating on growing their client gain. Vendors are therefore undertaking a number of strategic efforts, such as improving their goods by including new features, working together, making acquisitions and mergers, and forming relationships with other significant market participants. 'Google  ', 'Qualcomm  ', 'AWS  ', 'Microsoft  ', 'Toshiba  ', 'NVIDIA  ', 'Oracle  ', 'NEC Corporation  ', 'Huawei  ', 'Hitachi  ', 'Trax  ', 'STMicroelectronics  ', 'ON Semiconductor Corporation  ', 'Snap2Insight  ', 'Attrasoft  ', 'Sterison  ', 'ParallelDots  ', 'Vue.ai  ', 'Ximilar  ', 'Imagga Technologies'

The management of consumer contacts, product marketing both online and offline, and inventory control in retail spaces are all being revolutionised by image recognition technologies. More and more, internet shopping is being done using image recognition technologies. For instance, Snap, the parent company of Snapchat, is now creating a visual product feature for Snapchat that will make use of image recognition technology and enable users to capture images of objects in the real world as well as recognise, explore, and buy items on Amazon. Entrepreneurs and merchants have realised that traditional techniques of sales promotions, marketing, and visual merchandising will not be viable in the business in the long run as a result of the boom in the e-commerce sector, and much more so during the COVID-19 epidemic. In order to provide a superior consumer experience, merchants are swiftly adjusting to the new era of AI and picture recognition. The application of image recognition for shelf identification, product positioning, and upholding merchandising norms is rapidly gaining ground. Manufacturers, retailers, and marketers may better understand their markets and respond to them quickly thanks to image recognition technologies.

The demand for image recognition technology has expanded as people's preferences for advanced machine learning and high bandwidth data services have grown. Image recognition has become more widely adopted as a result of developments in a number of industries, including banking, financial services, insurance, and the media and entertainment sector, retail, IT & telecom, and banking, financial services, and insurance (BFSI). The image recognition system, among other things, aids in the identification of objects, structures, locations, logos, and individuals in images. The ability to combine offline content, such brochures and periodicals, with digital content, including advertising videos, augmented reality experiences, and product information has also been made possible by recent advancements in image recognition technology.

North America held the greatest market share, mostly as a result of the US's quick expansion of cloud-based streaming services. The segment's expansion is attributable to the growing use of mobile computing platforms and artificial intelligence in the area of online buying and e-commerce. Due to regional improvements in automotive obstacle detection technology, the European regional market is expected to experience considerable growth throughout the forecast period.

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Global Image Recognition Market

Report ID: SQSG45F2030

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