The global AI in image recognition market is estimated to witness a growth rate of more than 22.3% during forecast the period of 2022?2028. The market growth is attributed to its potential application in a range of industries including automotive, banking, financial services and insurance (BFSI), healthcare, security, and retail. AI-based image recognition software has been used in the BFSI industry to provide a substantial level of protection to customers. Major AI applications in the BFSI industry include personalization, fraud detection, and compliance. Recent ground-breaking developments in big data analytics, cloud computing, social networks, natural language processing (NLP), and machine learning significantly impact AI in the image recognition industry. Moreover, social media platforms use big data for keeping track of all the information. With image recognition, social media platforms analyze images and detect several objects, logos, and faces used for authentication and other security purposes. In addition, image recognition has a key role in self-driving cars.
Market Segmentation
The global AI in image recognition market has been analyzed on the basis of component, technology, application, end-user, and region. Based on the component, the market is segmented into hardware, software, and services. The software segment is estimated to hold a prominent share in the market.
Based on technology, the market is segmented into code recognition, facial recognition, object recognition, pattern recognition, and others (optical character recognition). Among these, facial recognition is projected to exhibit remarkable growth during the forecast period. Based on application, the market is segmented into scanning and imaging, security and surveillance, image search, augmented reality, and others (marketing and advertising). Further, on the basis of end-user, the market is segmented into BFSI, automobile, healthcare, retail, gaming, and security. BFSI industry is dominating the global market whereas the automobile is gaining momentum significantly. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Structure and Competition Landscape
The growth of the global AI in image recognition market is characterized by the presence of players operating in the market. Some of the prominent players operating in the market include Amazon Web Services Inc. (Amazon.com Inc.), Alphabet Inc. (Google LLC), Clarifai Inc., IBM Corp., Intel Corp., Micron Technologies Inc., Microsoft Corp., Nvidia Corp., Qualcomm Corp., Samsung Electronics Co., Ltd., Xilinx Inc., SAP SE, NEC Corp., Oracle Corp., and Huawei Technologies Co., Ltd. among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Acquisitions and product launches are among the key strategies adopted by major industry players. For instance,
? In May 2020, a hand-wash movement recognition tool named ?Actlyzer? was developed by Fuji Laboratories and Fujitsu Research and Development Center. Actlyzer utilizes advanced technologies such as AI and ML capabilities to identify complex hand wash movements from video data, which ensures proper, standardized hand washing practices.
? In May 2020, Microsoft Corp. announced a collaboration with Sony Corp. with an aim to develop software tools to enable simplified sharing of and access to their mutual customer data. These tools would be integrated into AI-powered smart cameras and video analytics by companies through leveraging Microsoft?s Azure AI and Sony?s IMX500 intelligent vision sensor.
Global AI in Image Recognition Market Analysis and Forecast 2019-2028
Table of Contents
1. Market Introduction
1.1. Scope of Study
1.2. Problem Statement
1.3. Market Segmentation
2. Assumptions and Acronyms
3. Executive Summary
3.1. Global Market in 2022
3.2. Analyst Insights & Recommendations
3.3. Growth Opportunities and Key Strategies
3.4. Supply-side and Demand-side Trends
4. Research Methodology
5. Analysis of COVID-19 Impact and Road Ahead
6. Market Indicators and Background
6.1. Macro-Economic Factors
6.2. Forecasting Factors
Robust assessment of various factors including industrial performance, technological adoption rate, economic conditions, corporate spending, among others
6.3. Supply Chain & Value Chain Analysis
6.4. Industry SWOT Analysis
6.5. PESTLE Analysis
6.6. Porter?s Five Forces Analysis
7. Global and Regional Market Dynamics
7.1. Drivers
7.2. Restraints
7.3. Trends
7.4. Opportunities
8. Global AI in Image Recognition Market: Use Case Analysis
8.1. By Industry
8.1.1. Automobile
8.1.2. Gaming
8.1.3. Healthcare
8.1.4. Retail
8.1.5. Others (Security)
8.2. By Region
8.2.1. North America
8.2.2. Europe (Western and Eastern)
8.2.3. Asia-Pacific
8.2.4. Rest of the World
9. Segmental Analysis
9.1. Global AI in Image Recognition Market by Component
9.1.1. Segment Overview
9.1.1.1. Hardware
9.1.1.2. Software
9.1.1.3. Services
9.2. Global AI in Image Recognition Market by Technology
9.2.1. Segment Overview
9.2.1.1. Code Recognition
9.2.1.2. Facial Recognition
9.2.1.3. Object Recognition
9.2.1.4. Pattern Recognition
9.2.1.5. Others (Optical Character Recognition)
9.3. Global AI in Image Recognition Market by Application
9.3.1. Segment Overview
9.3.1.1. Scanning and Imaging
9.3.1.2. Security and Surveillance
9.3.1.3. Image Search
9.3.1.4. Augmented Reality
9.3.1.5. Others (Marketing and Advertising)
9.4. Global AI in Image Recognition Market by End-User
9.4.1. Segment Overview
9.4.1.1. Banking, Financial Services, and Insurance (BFSI)
9.4.1.2. Automobile
9.4.1.3. Healthcare
9.4.1.4. Retail
9.4.1.5. Gaming
9.4.1.6. Security
9.4.1.7. Others (Media & Entertainment)
9.5. Global AI in Image Recognition Market by Region
9.5.1. North America
9.5.2. Latin America
9.5.3. Western Europe
9.5.4. Eastern Europe
9.5.5. Asia Pacific
9.5.6. Middle East & Africa
10. Regional Analysis
10.1. North America AI in Image Recognition Market Analysis and Forecast 2019-2028
10.1.1. Regional Market Overview and Key Takeaways
10.1.2. North America AI in Image Recognition Market by Component
10.1.3. North America AI in Image Recognition Market by Technology
10.1.4. North America AI in Image Recognition Market by Application
10.1.5. North America AI in Image Recognition Market by End-User
10.1.6. North America AI in Image Recognition Market by Country
10.1.6.1. US
10.1.6.2. Canada
10.2. Latin America AI in Image Recognition Market Analysis and Forecast 2019-2028
10.2.1. Regional Market Overview and Key Takeaways
10.2.2. Latin America AI in Image Recognition Market by Component
10.2.3. Latin America AI in Image Recognition Market by Technology
10.2.4. Latin America AI in Image Recognition Market by Application
10.2.5. Latin America AI in Image Recognition Market by End-User
10.2.6. Latin America AI in Image Recognition Market by Country
10.2.6.1. Brazil
10.2.6.2. Mexico
10.2.6.3. Rest of Latin America
10.3. Western Europe AI in Image Recognition Market Analysis and Forecast 2019-2028
10.3.1. Regional Market Overview and Key Takeaways
10.3.2. Western Europe AI in Image Recognition Market by Component
10.3.3. Western Europe AI in Image Recognition Market by Technology
10.3.4. Western Europe AI in Image Recognition Market by Application
10.3.5. Western Europe AI in Image Recognition Market by End-User
10.3.6. Western Europe AI in Image Recognition Market by Country
10.3.6.1. Germany
10.3.6.2. UK
10.3.6.3. France
10.3.6.4. Spain
10.3.6.5. Italy
10.3.6.6. Benelux
10.3.6.7. Nordic
10.3.6.8. Rest of Western Europe
10.4. Eastern Europe AI in Image Recognition Market Analysis and Forecast 2019-2028
10.4.1. Regional Market Overview and Key Takeaways
10.4.2. Eastern Europe AI in Image Recognition Market by Component
10.4.3. Eastern Europe AI in Image Recognition Market by Technology
10.4.4. Eastern Europe AI in Image Recognition Market by Application
10.4.5. Eastern Europe AI in Image Recognition Market by End-User
10.4.6. Eastern Europe AI in Image Recognition Market by Country
10.4.6.1. Russia
10.4.6.2. Poland
10.4.6.3. Rest of Eastern Europe
10.5. Asia Pacific AI in Image Recognition Market Analysis and Forecast 2019-2028
10.5.1. Regional Market Overview and Key Takeaways
10.5.2. Asia Pacific AI in Image Recognition Market by Component
10.5.3. Asia Pacific AI in Image Recognition Market by Technology
10.5.4. Asia Pacific AI in Image Recognition Market by Application
10.5.5. Asia Pacific AI in Image Recognition Market by End-User
10.5.6. Asia Pacific AI in Image Recognition Market by Country
10.5.6.1. China
10.5.6.2. Japan
10.5.6.3. India
10.5.6.4. South Korea
10.5.6.5. Australia
10.5.6.6. ASEAN
10.5.6.7. Rest of Asia-Pacific
10.6. Middle East & Africa AI in Image Recognition Market Analysis and Forecast 2019-2028
10.6.1. Regional Market Overview and Key Takeaways
10.6.2. Middle East & Africa AI in Image Recognition Market by Component
10.6.3. Middle East & Africa AI in Image Recognition Market by Technology
10.6.4. Middle East & Africa AI in Image Recognition Market by Application
10.6.5. Middle East & Africa AI in Image Recognition Market by End-User
10.6.6. Middle East & Africa AI in Image Recognition Market by Country
10.6.6.1. GCC
10.6.6.2. South Africa
10.6.6.3. Turkey
10.6.6.4. Rest of the Middle East & Africa
11. Competitive Landscape
11.1. Competition Dashboard
11.1.1. Global and Regional Market Share Analysis
11.1.2. Market Structure
11.2. Competitive Benchmarking
11.3. Key Strategy Analysis
11.4. Company Profiles
11.4.1. Amazon Web Services Inc. (Amazon.com Inc.)
11.4.1.1. Company Overview
11.4.1.2. Product/Service Offerings
11.4.1.3. Key Financials
11.4.1.4. Recent Developments
11.4.2. Alphabet Inc. (Google Inc.)
11.4.2.1. Company Overview
11.4.2.2. Product/Service Offerings
11.4.2.3. Financials
11.4.2.4. Recent Developments
11.4.3. Clarifai Inc.
11.4.3.1. Company Overview
11.4.3.2. Product/Service Offerings
11.4.3.3. Financials
11.4.3.4. Recent Developments
11.4.4. IBM Corp.
11.4.4.1. Company Overview
11.4.4.2. Product/Service Offerings
11.4.4.3. Financials
11.4.4.4. Recent Developments
11.4.5. Intel Corp.
11.4.5.1. Company Overview
11.4.5.2. Product/Service Offerings
11.4.5.3. Financials
11.4.5.4. Recent Developments
11.4.6. Micron Technologies Inc.
11.4.6.1. Company Overview
11.4.6.2. Product/Service Offerings
11.4.6.3. Financials
11.4.6.4. Recent Developments
11.4.7. Microsoft Corp.
11.4.7.1. Company Overview
11.4.7.2. Product/Service Offerings
11.4.7.3. Financials
11.4.7.4. Recent Developments
11.4.8. Nvidia Corp.
11.4.8.1. Company Overview
11.4.8.2. Product/Service Offerings
11.4.8.3. Financials
11.4.8.4. Recent Developments
11.4.9. Qualcomm Corp.
11.4.9.1. Company Overview
11.4.9.2. Product/Service Offerings
11.4.9.3. Financials
11.4.9.4. Recent Developments
11.4.10. Samsung Electronics Co., Ltd.
11.4.10.1. Company Overview
11.4.10.2. Product/Service Offerings
11.4.10.3. Financials
11.4.10.4. Recent Developments
11.4.11. Xilinx Inc.
11.4.11.1. Company Overview
11.4.11.2. Product/Service Offerings
11.4.11.3. Financials
11.4.11.4. Recent Developments
11.4.12. SAP SE
11.4.12.1. Company Overview
11.4.12.2. Product/Service Offerings
11.4.12.3. Financials
11.4.12.4. Recent Developments
11.4.13. NEC Corp.
11.4.13.1. Company Overview
11.4.13.2. Product/Service Offerings
11.4.13.3. Financials
11.4.13.4. Recent Developments
11.4.14. Oracle Corp.
11.4.14.1. Company Overview
11.4.14.2. Product/Service Offerings
11.4.14.3. Financials
11.4.14.4. Recent Developments
11.4.15. Huawei Technologies Co., Ltd.
11.4.15.1. Company Overview
11.4.15.2. Product/Service Offerings
11.4.15.3. Financials
11.4.15.4. Recent Developments
12. Disclaimer
List of Figures
Figure 01: Global AI in Image Recognition Market Value Analysis (US$ Mn), 2019-2021
Figure 02: Global AI in Image Recognition Market Size (US$ Mn) & Y-o-Y Growth (%) Analysis, 2022?2028
Figure 03: Global AI in Image Recognition Market Size and Market Share Analysis (%) by Component, 2022 & 2028
Figure 04: Global AI in Image Recognition Market Y-o-Y Analysis (%) by Component, 2022-2028
Figure 05: Global AI in Image Recognition Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 06: Global AI in Image Recognition Market Y-o-Y Analysis (%) by Technology, 2022-2028
Figure 07: Global AI in Image Recognition Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 08: Global AI in Image Recognition Market Y-o-Y Analysis (%) by Application, 2022-2028
Figure 09: Global AI in Image Recognition Market Size and Market Share Analysis (%) by End User, 2022 & 2028
Figure 10: Global AI in Image Recognition Market Y-o-Y Analysis (%) by End User, 2022-2028
Figure 11: Global AI in Image Recognition Market Size and Market Share Analysis (%) by Region, 2022 & 2028
Figure 12: Global AI in Image Recognition Market Y-o-Y Growth (%) by Region, 2022?2028
Figure 13: North America AI in Image Recognition Market Size and Market Share Analysis (%) by Component, 2022 & 2028
Figure 14: North America AI in Image Recognition Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 15: North America AI in Image Recognition Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 16: North America AI in Image Recognition Market Size and Market Share Analysis (%) by End User, 2022 & 2028
Figure 17: North America AI in Image Recognition Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 18: Latin America AI in Image Recognition Market Size and Market Share Analysis (%) by Component, 2022 & 2028
Figure 19: Latin America AI in Image Recognition Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 20: Latin America AI in Image Recognition Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 21: Latin America AI in Image Recognition Market Size and Market Share Analysis (%) by End User, 2022 & 2028
Figure 22: Latin America AI in Image Recognition Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 23: Western Europe AI in Image Recognition Market Size and Market Share Analysis (%) by Component, 2022 & 2028
Figure 24: Western Europe AI in Image Recognition Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 25: Western Europe AI in Image Recognition Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 26: Western Europe AI in Image Recognition Market Size and Market Share Analysis (%) by End User, 2022 & 2028
Figure 27: Western Europe AI in Image Recognition Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 28: Eastern Europe AI in Image Recognition Market Size and Market Share Analysis (%) by Component, 2022 & 2028
Figure 29: Eastern Europe AI in Image Recognition Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 30: Eastern Europe AI in Image Recognition Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 31: Eastern Europe AI in Image Recognition Market Size and Market Share Analysis (%) by End User, 2022 & 2028
Figure 32: Eastern Europe AI in Image Recognition Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 33: Asia Pacific AI in Image Recognition Market Size and Market Share Analysis (%) by Component, 2022 & 2028
Figure 34: Asia Pacific AI in Image Recognition Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 35: Asia Pacific AI in Image Recognition Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 36: Asia Pacific AI in Image Recognition Market Size and Market Share Analysis (%) by End User, 2022 & 2028
Figure 37: Asia Pacific AI in Image Recognition Market Size and Market Share Analysis (%) by Country, 2022 & 2028
Figure 38: Middle East & Africa AI in Image Recognition Market Size and Market Share Analysis (%) by Component, 2022 & 2028
Figure 39: Middle East & Africa AI in Image Recognition Market Size and Market Share Analysis (%) by Technology, 2022 & 2028
Figure 40: Middle East & Africa AI in Image Recognition Market Size and Market Share Analysis (%) by Application, 2022 & 2028
Figure 41: Middle East & Africa AI in Image Recognition Market Size and Market Share Analysis (%) by End User, 2022 & 2028
Figure 42: Middle East & Africa AI in Image Recognition Market Size and Market Share Analysis (%) by Country, 2022 & 2028
List of Tables
Table 1: Global AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Component
Table 2: Global AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 3: Global AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 4: Global AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End User
Table 5: Global AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Region
Table 6: North America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Component
Table 7: North America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 8: North America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 9: North America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End User
Table 10: North America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 11: Latin America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Component
Table 12: Latin America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 13: Latin America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 14: Latin America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End User
Table 15: Latin America AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 16: Western Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Component
Table 17: Western Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 18: Western Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 19: Western Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End User
Table 20: Western Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 21: Eastern Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Component
Table 22: Eastern Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 23: Eastern Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 24: Eastern Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End User
Table 25: Eastern Europe AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 26: Asia Pacific AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Component
Table 27: Asia Pacific AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 28: Asia Pacific AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 29: Asia Pacific AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End User
Table 30: Asia Pacific AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
Table 31: Middle East & Africa AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Component
Table 32: Middle East & Africa AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Technology
Table 33: Middle East & Africa AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Application
Table 34: Middle East & Africa AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Operational Frequency
Table 35: Middle East & Africa AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by End User
Table 36: Middle East & Africa AI in Image Recognition Market Value (US$ Mn) Analysis and Forecast 2019-2028, by Country
The global AI in image recognition market is estimated to witness a growth rate of more than 22.3% during forecast the period of 2022?2028. The market growth is attributed to its potential application in a range of industries including automotive, banking, financial services and insurance (BFSI), healthcare, security, and retail. AI-based image recognition software has been used in the BFSI industry to provide a substantial level of protection to customers. Major AI applications in the BFSI industry include personalization, fraud detection, and compliance. Recent ground-breaking developments in big data analytics, cloud computing, social networks, natural language processing (NLP), and machine learning significantly impact AI in the image recognition industry. Moreover, social media platforms use big data for keeping track of all the information. With image recognition, social media platforms analyze images and detect several objects, logos, and faces used for authentication and other security purposes. In addition, image recognition has a key role in self-driving cars.
Market Segmentation
The global AI in image recognition market has been analyzed on the basis of component, technology, application, end-user, and region. Based on the component, the market is segmented into hardware, software, and services. The software segment is estimated to hold a prominent share in the market.
Based on technology, the market is segmented into code recognition, facial recognition, object recognition, pattern recognition, and others (optical character recognition). Among these, facial recognition is projected to exhibit remarkable growth during the forecast period. Based on application, the market is segmented into scanning and imaging, security and surveillance, image search, augmented reality, and others (marketing and advertising). Further, on the basis of end-user, the market is segmented into BFSI, automobile, healthcare, retail, gaming, and security. BFSI industry is dominating the global market whereas the automobile is gaining momentum significantly. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Structure and Competition Landscape
The growth of the global AI in image recognition market is characterized by the presence of players operating in the market. Some of the prominent players operating in the market include Amazon Web Services Inc. (Amazon.com Inc.), Alphabet Inc. (Google LLC), Clarifai Inc., IBM Corp., Intel Corp., Micron Technologies Inc., Microsoft Corp., Nvidia Corp., Qualcomm Corp., Samsung Electronics Co., Ltd., Xilinx Inc., SAP SE, NEC Corp., Oracle Corp., and Huawei Technologies Co., Ltd. among others. These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Acquisitions and product launches are among the key strategies adopted by major industry players. For instance,
? In May 2020, a hand-wash movement recognition tool named ?Actlyzer? was developed by Fuji Laboratories and Fujitsu Research and Development Center. Actlyzer utilizes advanced technologies such as AI and ML capabilities to identify complex hand wash movements from video data, which ensures proper, standardized hand washing practices.
? In May 2020, Microsoft Corp. announced a collaboration with Sony Corp. with an aim to develop software tools to enable simplified sharing of and access to their mutual customer data. These tools would be integrated into AI-powered smart cameras and video analytics by companies through leveraging Microsoft?s Azure AI and Sony?s IMX500 intelligent vision sensor.
