Press release
Artificial Intelligence (AI) Image Recognition Global Market Report 2025: Rapid Growth and Key Trends
Artificial Intelligence AI Image Recognition Market Outlook
What Is The Projected Market Size Of The Global Artificial Intelligence (AI) Image Recognition Market And Its Growth Rate?
The artificial intelligence (AI) image recognition market promises substantial growth:
- The market value, currently, at $2.76 billion in 2024, is set to boost to $3.29 billion in 2025 with a compound annual growth rate (CAGR) of 19.2%.
- Key drivers of this growth include retail automation, self-checkout systems, autonomous vehicles, advanced driver assistance systems, security and surveillance applications, healthcare innovations, and social media applications.
- Future growth projection forecasts the market value to reach a staggering $6.55 billion in 2029 with a compound annual growth rate (CAGR) of 18.8%.
- The growth in the forecast period may be attributed to smart city initiatives, government investments in AI-based technologies, adoption of AI in manufacturing and quality control processes, consumer use of image recognition through mobile apps, and the emergence of machine learning operations (MLOps).
What Is Driving The Growth In The Artificial Intelligence (AI) Image Recognition Market?
The accelerated adoption of artificial intelligence is a primary propellant for the growth of the AI image recognition market. AI's capabilities in simulating human intelligence processes, specifically analyzing and interpreting visual data, are proving to be pivotal. For instance, a report published by the United States Census Bureau in March 2024 reflected a steady rise in AI adoption from 3.7% of companies in Fall 2023 to 5.4% in February 2024, with projections of a further increase to 6.6% by Fall 2024. This burgeoning adoption of AI is a significant driver for the AI image recognition market.
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Who Are the Key Players Driving Artificial Intelligence (AI) Image Recognition Market Growth?
A slew of significant companies are driving the market for AI image recognition:
- Apple Inc.
- Google LLC
- Samsung
- Microsoft Corporation
- Meta Platforms Inc.
- Amazon Web Services (AWS)
- Intel Corporation
- The International Business Machines Corporation
- Qualcomm Technologies Inc.
- NVIDIA Corporation
- NEC Corporation
- Adobe Inc.
- Baidu Inc.
- Hikvision
- Arista Networks
- Xilinx Inc.
- Cognex Corporation
- SenseTime
- Ambarella Inc.
- Megvii
- Trax
- Cambricon Technologies Corporation Limited
- Vayyar Imaging
- aiMotive
- Cortexica Vision Systems
- Clarifai
- Blippar
- Imagga
- Yitu Technology
What Are The Key Trends In The Artificial Intelligence (AI) Image Recognition Market?
Significant trends in the AI image recognition market include:
- Transition from traditional computer vision to deep learning
- Use of graph neural networks (GNNs)
- Employment of pre-trained models
- A focus on edge computing
- Implementation of automated machine learning (AutoML)
- Enhanced data labeling
What Are The Segments Of The Global Artificial Intelligence (AI) Image Recognition Market?
Artificial intelligence (AI) image recognition market is encompassed by several segments:
1) By Component: Hardware, Software, Services
2) By Technology: Code Recognition, Facial Recognition, Object Recognition, Pattern Recognition, Optical Character Recognition
3) By Application: Scanning And Imaging, Security And Surveillance, Image Search, Augmented Reality, marketing And Advertising
4) By End-User: Banking, Financial Services And Insurance (BFSI), Media And Entertainment, Retail And E-commerce, Information Technology (IT) And Telecom
Which Region Leads The Artificial Intelligence (AI) Image Recognition Market?
In 2024, North America emerged as the dominating region for the artificial intelligence (AI) image recognition market. However, the forecast period is expected to witness the fastest growth in the Asia-Pacific region.
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What Is Covered In The Artificial Intelligence (AI) Image Recognition Market Report?
- Market Size Analysis: Analyze the Artificial Intelligence (AI) Image Recognition market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Artificial Intelligence (AI) Image Recognition market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Artificial Intelligence (AI) Image Recognition market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Artificial Intelligence (AI) Image Recognition market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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