Global Image Recognition Market 2020-2028 Trends, Share, Size, Growth, Opportunity and Forecasts By Stratistics MRC
2020 - 2028 Global Image Recognition Market
The Global Image Recognition Market is accounted for $33.01 billion in 2020 and is expected to reach $150.66 billion by 2028 growing at a CAGR of 20.9% during the forecast period. Some of the key factors propelling the market growth include growing use of high bandwidth data services, increasing popularity of AI-driven technologies, increased adoption of cloud-based technologies, rising adoption of image recognition for various applications in various sectors such as retail, marketing, and media. However, high installation cost of image recognition solutions is likely to hamper the market. Facial recognition segment is anticipated to grow at a significant rate during the forecast period, due to rising demand in security applications, growing investments in autonomous vehicles, and technological advancements in facial recognition technology. Asia Pacific is projected to have considerable market growth during the forecast period, owing to the rapid technological advancements, rising use of mobiles and tablets, and the popularity of online streaming in emerging economies, such as China and India.
Some of the key players in Image Recognition Market include NEC Corporation, Nvidia Corporation, Honeywell International Inc., Amazon Web Services (AWS) Inc., LTU Technologies, Wikitude GmbH, Attrasoft, Inc., Microsoft Corporation, Slyce Inc., Google Inc., Intel Corporation, Hitachi, Ltd., IBM Corporation, Qualcomm Corp., Catchoom Technologies S.L., Samsung Electronics, Toshiba, Micron Technologies Inc, Clarifai Inc., and Xilinx Inc.
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