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Image Recognition Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

November 2022 | 147 pages | ID: I107A4C55847EN
IMARC Group

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The global image recognition market size reached US$ 30.0 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 76.5 Billion by 2027, exhibiting a growth rate (CAGR) of 16.8% during 2022-2027.

Image recognition refers to a technological solution used for identifying objects, people, places and actions in images. It utilizes machine vision technologies with predefined algorithms and artificial intelligence (AI) to interpret a matrix of numerical values in a digital image. The algorithm maps out a pattern or relationship in subsequent images to improve the accuracy of the results. Some of the commonly used algorithms include Principal Component Analysis (PCA), Scale-invariant Feature Transform (SIFT) and Speeded Up Robust Features (SURF). These technologies are also used for performing machine-based visual tasks, such as labeling contents of images with meta-tags, performing image content search and guiding self-driving cars, autonomous robots and accident avoidance systems.

Image Recognition Market Trends:
Rapid digitization across industries, along with the widespread adoption of AI-based systems, are among the key factors driving the growth of the market. Furthermore, the increasing utilization of image recognition technologies for digital marketing applications is providing a thrust to the market growth. E-commerce service providers integrate their application’s programming interface with the image recognition tools to assist with the monitoring of return on investment (RoI) and enhancing brand productivity. Additionally, various technological advancements, such as the improvements in AI, big data and machine learning (ML) systems, are acting as other growth-inducing factors. This enables law enforcement agencies to run visual analytics for biometric scanning machines, pedestrian recognition and vehicle tracking. Other factors, including significant improvements in the information technology (IT) infrastructure, along with extensive research and development (R&D) activities, are anticipated to drive the market further.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global image recognition market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, technology, application, deployment type and end use industry.

Breakup by Component:

Hardware
Software
Services

Breakup by Technology:

Object Detection
QR/Barcode Recognition
Facial Recognition
Pattern Recognition
Optical Character Recognition
Others

Breakup by Application:

Scanning and Imaging
Security and Surveillance
Image Searching
Augmented Reality
Marketing and Advertising
Others

Breakup by Deployment Type:

On-premises
Cloud-based

Breakup by End Use Industry:

BFSI
Media and Entertainment
IT and Telecom
Government
Healthcare
Transportation and Logistics
Others

Breakup by Region:

North America
United States
Canada
Asia Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Amazon Web Services Inc. (Amazon.com Inc.), Attrasoft Inc., Google LLC (Alphabet Inc.), Hitachi Ltd., Honeywell International Inc., International Business Machines Corporation, Microsoft Corporation, NEC Corporation, Qualcomm Technologies Inc. (Qualcomm Incorporated), Slyce Inc. and Wikitude GmbH.

Key Questions Answered in This Report:
How has the global image recognition market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global image recognition market?
What are the key regional markets?
What is the breakup of the market based on the component?
What is the breakup of the market based on the technology?
What is the breakup of the market based on the application?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the end use industry?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global image recognition market and who are the key players?
What is the degree of competition in the industry?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL IMAGE RECOGNITION MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Hardware
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Software
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Services
  6.3.1 Market Trends
  6.3.2 Market Forecast

7 MARKET BREAKUP BY TECHNOLOGY

7.1 Object Detection
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 QR/Barcode Recognition
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Facial Recognition
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Pattern Recognition
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Optical Character Recognition
  7.5.1 Market Trends
  7.5.2 Market Forecast
7.6 Others
  7.6.1 Market Trends
  7.6.2 Market Forecast

8 MARKET BREAKUP BY APPLICATION

8.1 Scanning and Imaging
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Security and Surveillance
  8.2.1 Market Trends
  8.2.2 Market Forecast
8.3 Image Searching
  8.3.1 Market Trends
  8.3.2 Market Forecast
8.4 Augmented Reality
  8.4.1 Market Trends
  8.4.2 Market Forecast
8.5 Marketing and Advertising
  8.5.1 Market Trends
  8.5.2 Market Forecast
8.6 Others
  8.6.1 Market Trends
  8.6.2 Market Forecast

9 MARKET BREAKUP BY DEPLOYMENT TYPE

9.1 On-premises
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Cloud-based
  9.2.1 Market Trends
  9.2.2 Market Forecast

10 MARKET BREAKUP BY END USE INDUSTRY

10.1 BFSI
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 Media and Entertainment
  10.2.1 Market Trends
  10.2.2 Market Forecast
10.3 IT and Telecom
  10.3.1 Market Trends
  10.3.2 Market Forecast
10.4 Government
  10.4.1 Market Trends
  10.4.2 Market Forecast
10.5 Healthcare
  10.5.1 Market Trends
  10.5.2 Market Forecast
10.6 Transportation and Logistics
  10.6.1 Market Trends
  10.6.2 Market Forecast
10.7 Others
  10.7.1 Market Trends
  10.7.2 Market Forecast

11 MARKET BREAKUP BY REGION

11.1 North America
  11.1.1 United States
    11.1.1.1 Market Trends
    11.1.1.2 Market Forecast
  11.1.2 Canada
    11.1.2.1 Market Trends
    11.1.2.2 Market Forecast
11.2 Asia Pacific
  11.2.1 China
    11.2.1.1 Market Trends
    11.2.1.2 Market Forecast
  11.2.2 Japan
    11.2.2.1 Market Trends
    11.2.2.2 Market Forecast
  11.2.3 India
    11.2.3.1 Market Trends
    11.2.3.2 Market Forecast
  11.2.4 South Korea
    11.2.4.1 Market Trends
    11.2.4.2 Market Forecast
  11.2.5 Australia
    11.2.5.1 Market Trends
    11.2.5.2 Market Forecast
  11.2.6 Indonesia
    11.2.6.1 Market Trends
    11.2.6.2 Market Forecast
  11.2.7 Others
    11.2.7.1 Market Trends
    11.2.7.2 Market Forecast
11.3 Europe
  11.3.1 Germany
    11.3.1.1 Market Trends
    11.3.1.2 Market Forecast
  11.3.2 France
    11.3.2.1 Market Trends
    11.3.2.2 Market Forecast
  11.3.3 United Kingdom
    11.3.3.1 Market Trends
    11.3.3.2 Market Forecast
  11.3.4 Italy
    11.3.4.1 Market Trends
    11.3.4.2 Market Forecast
  11.3.5 Spain
    11.3.5.1 Market Trends
    11.3.5.2 Market Forecast
  11.3.6 Russia
    11.3.6.1 Market Trends
    11.3.6.2 Market Forecast
  11.3.7 Others
    11.3.7.1 Market Trends
    11.3.7.2 Market Forecast
11.4 Latin America
  11.4.1 Brazil
    11.4.1.1 Market Trends
    11.4.1.2 Market Forecast
  11.4.2 Mexico
    11.4.2.1 Market Trends
    11.4.2.2 Market Forecast
  11.4.3 Others
    11.4.3.1 Market Trends
    11.4.3.2 Market Forecast
11.5 Middle East and Africa
  11.5.1 Market Trends
  11.5.2 Market Breakup by Country
  11.5.3 Market Forecast

12 SWOT ANALYSIS

12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats

13 VALUE CHAIN ANALYSIS

14 PORTERS FIVE FORCES ANALYSIS

14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes

15 PRICE ANALYSIS

16 COMPETITIVE LANDSCAPE

16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
  16.3.1 Amazon Web Services Inc. (Amazon.com Inc.)
    16.3.1.1 Company Overview
    16.3.1.2 Product Portfolio
    16.3.1.3 SWOT Analysis
  16.3.2 Attrasoft Inc.
    16.3.2.1 Company Overview
    16.3.2.2 Product Portfolio
  16.3.3 Google LLC (Alphabet Inc.)
    16.3.3.1 Company Overview
    16.3.3.2 Product Portfolio
    16.3.3.3 SWOT Analysis
  16.3.4 Hitachi Ltd.
    16.3.4.1 Company Overview
    16.3.4.2 Product Portfolio
    16.3.4.3 Financials
    16.3.4.4 SWOT Analysis
  16.3.5 Honeywell International Inc.
    16.3.5.1 Company Overview
    16.3.5.2 Product Portfolio
    16.3.5.3 Financials
    16.3.5.4 SWOT Analysis
  16.3.6 International Business Machines Corporation
    16.3.6.1 Company Overview
    16.3.6.2 Product Portfolio
    16.3.6.3 Financials
    16.3.6.4 SWOT Analysis
  16.3.7 Microsoft Corporation
    16.3.7.1 Company Overview
    16.3.7.2 Product Portfolio
    16.3.7.3 Financials
    16.3.7.4 SWOT Analysis
  16.3.8 NEC Corporation
    16.3.8.1 Company Overview
    16.3.8.2 Product Portfolio
    16.3.8.3 Financials
    16.3.8.4 SWOT Analysis
  16.3.9 Qualcomm Technologies Inc. (Qualcomm Incorporated)
    16.3.9.1 Company Overview
    16.3.9.2 Product Portfolio
  16.3.10 Slyce Inc.
    16.3.10.1 Company Overview
    16.3.10.2 Product Portfolio
  16.3.11 Wikitude GmbH
    16.3.11.1 Company Overview
    16.3.11.2 Product Portfolio
    16.3.11.3 Financials

LIST OF TABLES

Table 1: Global: Image Recognition Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Image Recognition Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Image Recognition Market Forecast: Breakup by Technology (in Million US$), 2022-2027
Table 4: Global: Image Recognition Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Image Recognition Market Forecast: Breakup by Deployment Type (in Million US$), 2022-2027
Table 6: Global: Image Recognition Market Forecast: Breakup by End Use Industry (in Million US$), 2022-2027
Table 7: Global: Image Recognition Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 8: Global: Image Recognition Market Structure
Table 9: Global: Image Recognition Market: Key Players

LIST OF FIGURES

Figure 1: Global: Image Recognition Market: Major Drivers and Challenges
Figure 2: Global: Image Recognition Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Image Recognition Market: Breakup by Component (in %), 2021
Figure 4: Global: Image Recognition Market: Breakup by Technology (in %), 2021
Figure 5: Global: Image Recognition Market: Breakup by Application (in %), 2021
Figure 6: Global: Image Recognition Market: Breakup by Deployment Type (in %), 2021
Figure 7: Global: Image Recognition Market: Breakup by End Use Industry (in %), 2021
Figure 8: Global: Image Recognition Market: Breakup by Region (in %), 2021
Figure 9: Global: Image Recognition Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 10: Global: Image Recognition (Hardware) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Image Recognition (Hardware) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Image Recognition (Software) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Image Recognition (Software) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Image Recognition (Services) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Image Recognition (Services) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Image Recognition (Object Detection) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Image Recognition (Object Detection) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Image Recognition (QR/Barcode Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Image Recognition (QR/Barcode Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Image Recognition (Facial Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Image Recognition (Facial Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Image Recognition (Pattern Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Image Recognition (Pattern Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Image Recognition (Optical Character Recognition) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Image Recognition (Optical Character Recognition) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Image Recognition (Other Technologies) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Image Recognition (Other Technologies) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Image Recognition (Scanning and Imaging) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Image Recognition (Scanning and Imaging) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Global: Image Recognition (Security and Surveillance) Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Global: Image Recognition (Security and Surveillance) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Global: Image Recognition (Image Searching) Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Global: Image Recognition (Image Searching) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Global: Image Recognition (Augmented Reality) Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Global: Image Recognition (Augmented Reality) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Global: Image Recognition (Marketing and Advertising) Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Global: Image Recognition (Marketing and Advertising) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Global: Image Recognition (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Global: Image Recognition (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Global: Image Recognition (On-premises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Global: Image Recognition (On-premises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: Global: Image Recognition (Cloud-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: Global: Image Recognition (Cloud-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Global: Image Recognition (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Global: Image Recognition (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Global: Image Recognition (Media and Entertainment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Global: Image Recognition (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Global: Image Recognition (IT and Telecom) Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Global: Image Recognition (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Global: Image Recognition (Government) Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Global: Image Recognition (Government) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Global: Image Recognition (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Global: Image Recognition (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Global: Image Recognition (Transportation and Logistics) Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Global: Image Recognition (Transportation and Logistics) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: Global: Image Recognition (Other End Use Industries) Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: Global: Image Recognition (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: North America: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: North America: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: United States: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: United States: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Canada: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Canada: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Asia Pacific: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Asia Pacific: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: China: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: China: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Japan: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Japan: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: India: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: India: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: South Korea: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: South Korea: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Australia: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Australia: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Indonesia: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Indonesia: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 78: Others: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 79: Others: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 80: Europe: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 81: Europe: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 82: Germany: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 83: Germany: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 84: France: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 85: France: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: United Kingdom: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 87: United Kingdom: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 88: Italy: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 89: Italy: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 90: Spain: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 91: Spain: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 92: Russia: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 93: Russia: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 94: Others: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 95: Others: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 96: Latin America: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 97: Latin America: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 98: Brazil: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 99: Brazil: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 100: Mexico: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 101: Mexico: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 102: Others: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 103: Others: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 104: Middle East and Africa: Image Recognition Market: Sales Value (in Million US$), 2016 & 2021
Figure 105: Middle East and Africa: Image Recognition Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 106: Global: Image Recognition Industry: SWOT Analysis
Figure 107: Global: Image Recognition Industry: Value Chain Analysis
Figure 108: Global: Image Recognition Industry: Porter’s Five Forces Analysis


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