Image Analysis Software Market Share, Industry Size, Leading Companies Outlook, Upcoming Challenges and Opportunities till 2028

According to our latest market study on "Image Analysis Software Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Deployment Type, Image Dimension, and Industry Vertical," the image analysis software market was valued at US$ 3,970.93 million in 2021 and is projected to reach US$ 7,672.16 million by 2028; it is expected to grow at a CAGR of 9.9% from 2021 to 2028.

Image analysis software market, often known as imagery analysis market, aids in the extraction of valuable data from pictures, mostly digital images, using digital image processing techniques. Image analysis tasks can range from as simple as scanning barcoded tags to as complex as facial recognition of a person. Computers are required to process vast volumes of data, jobs requiring complicated computing, and the extraction of quantitative data. When a computer or electrical equipment analyzes a picture to extract usable information, it is known as digital image analysis or computer image analysis. It incorporates pattern recognition, digital geometry, and signal processing into the domains of computer or machine vision and medical imaging.

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Image analysis software applications powered by Artificial Intelligence (AI) and Machine Learning (ML) redefine the automotive industry. It is now being used in the automobile manufacturing industry in design, supply chain, production, and post-production. Furthermore, AI and machine learning are being used in 'driving assistance' and 'driver risk assessment' systems, revolutionizing the transportation industry. Artificial intelligence is also changing various aftermarket services, such as predictive maintenance and insurance. In the automobile business, machine learning has resulted in developing new intelligent products and improved working methods.

Players Mentioned are -

•ADCIS SA
•Bio-Rad Laboratories, Inc.
•Oxford Instruments
•Clemex Technologies, Inc.
•Media Cybernetics, Inc.
•MIPAR Software LLC
•Olympus Corporation
•Pax-it
•PerkinElmer, Inc.

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Impact of COVID-19 Pandemic on Image Analysis Software Market

The COVID-19 pandemic has benefited the image analysis software market. Businesses face new challenges due to the COVID-19 pandemic and the development of remote work environments. The COVID-19 outbreak has highlighted the necessity of companies in various industries to adopt digital technologies and leverage the potential of image analysis software market solutions and services to optimize operations and costs, which will further increase ROI on IT tools. Further, the pandemic arrival in 2020 prompted a slew of challenges for global image analysis software market operations. Healthcare infrastructures in developed economies is collapsed due to the rising cases of COVID-19. Therefore, public healthcare emergency requires the government and market players to intervene and assist in the revival of image analysis software market operations and revenue through collaborative efforts of research and development initiatives undertaken to recover the losses during the forecast period. In addition, the increased investments bode well for the image analysis software market in the following years.

Based on deployment, the image analysis software market is bifurcated into on-premises and cloud. On-premises software is installed and operated on computers on the user's or organization's premises rather than at a remote facility, such as a server farm or cloud. As on-premise software provides better flexibility, stability, and security, several market players are now selling on-premises software. For instance, On-Premises Imagga's visual AI solutions are available for full deployment on a company's private, local servers. Data-sensitive organizations may use Imagga's award-winning visual A.I. technology to perform auto-tagging, auto-categorizing, color extraction, custom training, and facial recognition while remaining fully compliant with privacy laws and regulations.
Based on industry vertical, the image analysis software market is segmented into healthcare and life science, manufacturing, academia, minerals, metals and oil, and others. In medical industry, image analysis software is useful in various fields such as neurology, cardiology, orthopedics, dentistry, and oncology. The software can read images created by X-rays, MRIs, CT scans, PET scans, and ultrasounds. As a result, processes can be automated and accelerated to avoid manual work and save time. The software may learn to recognize specific features in these photographs, making the diagnosis procedure quick and accurate. Medical image processing software has a lot of capabilities. AI-based solutions detect irregularities and potentially dangerous anomalies and also show if the patient is dealing with cancer or a benign tumor. The software can read 3D and so-called 4D photos in addition to regular 2D images (ones that display changes in time).

The Insight Partners Image Analysis Software Market Research Report Scenario includes:

•The report provides qualitative and quantitative trends of global Image Analysis Software Market across type, type of products, service, and geography.
•The report starts with the key takeaways (Chapter Two), highlighting the key trends and outlook of the global Image Analysis Software Market.
•Chapter Three provides the research methodology of the study.
•Chapter Four further provides PEST analysis for each region.
•Chapter Five highlights the key industry dynamics in the Image Analysis Software Market, including factors that are driving the market, prevailing deterrent, potential opportunities as well as future trends. Impact analysis of these drivers and restraints is also covered in this section.
•Chapter Six discusses the global Image Analysis Software Market scenario, in terms of historical market revenues, and forecast till the year 2028.
•Chapter Seven to ten discuss Image Analysis Software Market segments by type, type of application, service, and geography across North America, Europe, Asia-Pacific, Middle East and Africa, South and Central America. They cover market revenue forecast, and factors driving and governing growth.
•Chapter Eleven describes the industry landscape analysis. It provides detailed description of various business activities such as market initiatives, new developments, mergers and joint ventures globally along with a competitive landscape.
•Chapter Twelve provides the detailed profiles of the key companies operating in the global Image Analysis Software Market. The companies have been profiled on the basis of their key facts, business description, products and services, financial overview, SWOT analysis, and key developments.
•Chapter Thirteen, i.e. the appendix is inclusive of a brief overview of the company, glossary of terms, contact information, and the disclaimer section.

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This release was published on openPR.