Press release
Rapid Surge In AI Adoption Reshapes Industries, Fueling Robust Growth In AI Image Recognition Market: A Key Driver Powering Artificial Intelligence (AI) Image Recognition Market Growth In 2025
Artificial Intelligence (AI) Image Recognition
What Is the Current Artificial Intelligence (AI) Image Recognition Market Size and Its Estimated Growth Rate?
Rapid expansion has been observed in the artificial intelligence (AI) image recognition market in the recent past. The market size is forecasted to surge from $2.76 billion in 2024 to reach $3.29 billion in 2025, registering a compound annual growth rate (CAGR) of 19.2%. The historic growth can be accredited to the rise in retail automation and self-checkout systems, advent of autonomous vehicles along with advanced driver assistance systems, escalating demand for security and surveillance applications, healthcare advancements in medical imaging and diagnostics, and increasing use of facial recognition technologies in social media applications.
The AI image recognition market is predicted to exhibit substantial growth in the upcoming years, anticipated to reach a value of $6.55 billion by 2029 with an 18.8% CAGR. Factors fueling this projection include the adoption of AI imaging in smart city initiatives, increased government funding for AI-based defense mechanisms, its prevalent use in manufacturing and quality assurance, the rising consumer utilization of image recognition via mobile applications, and the advent of MLOps to implement AI image recognition models. The upcoming trends to watch for within this timeline encompass the shift from conventional computer vision to deep learning, the integration of graph neural networks (GNNs), pre-existing models, a strong emphasis on edge computing, automated machine learning (AutoML), and improved data tagging.
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How Are Emerging Segments Shaping the Artificial Intelligence (AI) Image Recognition Market Landscape?
The artificial intelligence (AI) image recognition market covered in this report is segmented -
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
Subsegments:
1) By Hardware: Graphics Processing Units (GPUs), Central Processing Units (CPUs), Application-Specific Integrated Circuits (ASICs), Field-Programmable Gate Arrays (FPGAs)
2) By Software: On-Premise Software, Cloud-Based Software, Edge Software
3) By Services: Training And Consulting Services, Integration And Implementation Services, Support And Maintenance Services
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Which Growth Factors Are Influencing Artificial Intelligence (AI) Image Recognition Market Expansion?
The AI image recognition market is predicted to experience significant growth, spurred by the escalating adoption of artificial intelligence (AI). AI involves the imitation of human intelligence by machines, particularly computer systems. The increasing utilization of AI enhances image recognition by employing algorithms to assess and interpret visual data, akin to the way human beings perceive and comprehend images. For example, in March 2024, the United States Census Bureau, a federal statistical agency based in the US, released a report indicating a fast-paced increase in AI adoption. It stated that the number of companies integrating AI has risen from 3.7% in Fall 2023 to 5.4% in February 2024, with predictions pointing to an uptick to 6.6% by Fall 2024. Furthermore, statistics concerning employment-weighted usage indicate that approximately 12% of the workforce in these firms will be utilizing AI by then. As a result, the escalating adoption of AI is a major factor propelling the AI image recognition market's growth.
Who Are the Dominant Players Across Different Artificial Intelligence (AI) Image Recognition Market Segments?
Major companies operating in the artificial intelligence (AI) image recognition market report are 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 Latest Developing Trends in the Artificial Intelligence (AI) Image Recognition Market?
Leading firms in the artificial intelligence (AI) image recognition industry are prioritizing avant-garde technology, such as AI-fueled image recognition tools, to maintain their industry dominance. AI-based image recognition tools are computer vision technologies that harness the power of artificial intelligence to discern and categorize different aspects of images or videos. For example, Klarna, a fintech firm based in the US, launched the Shopping Lens in October 2023-a brand new AI-driven image recognition tool designed to enhance users' shopping experience. This tool enables consumers to upload an image of any product they are potentially interested in buying. Utilizing AI, the tool transforms an image into a search query, swiftly connecting customers to the most promising deals on Klarna's app and pointing them where to purchase the product.
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Which Geographic Regions Are Expected to Dominate the Artificial Intelligence (AI) Image Recognition Market in the Coming Years?
North America was the largest region in the artificial intelligence (AI) image recognition market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI) image recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Intelligence (AI) Image Recognition Market?
2. What is the CAGR expected in the Artificial Intelligence (AI) Image Recognition Market?
3. What Are the Key Innovations Transforming the Artificial Intelligence (AI) Image Recognition Industry?
4. Which Region Is Leading the Artificial Intelligence (AI) Image Recognition Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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