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Facial Recognition's Role In The Growing Demand For Image Recognition In Security Applications: The Driving Engine Behind Image Recognition Market Evolution in 2025
Image Recognition Market Size
Image Recognition Market Size Growth Forecast: What to Expect by 2025?
The market size for image recognition has witnessed a swift expansion in the past few years. Projections show it amplifying from $53.4 billion in 2024 to $61.97 billion in 2025, with a compound annual growth rate (CAGR) of 16.1%. The historical growth could be linked to advancements in deep learning and neural networks, the development of computer vision technologies, escalating availability of image data, the application of image recognition in healare, and the proliferation of e-commerce and visual search.
How Will the Image Recognition Market Size Evolve and Grow by 2029?
There is an expectation that the market size for image recognition will experience fast growth in upcoming years, with projections placing its value at $127.58 billion in 2029, boasting a compound annual growth rate (CAGR) of 19.8%. The accelerated growth during this forecasting period can be credited to several factors including, the application of image recognition in self-driving vehicles, its increased use in augment reality (AR) programs, advancements in security and surveillance systems, the expansion of image recognition in the retail and fashion sectors, and the focus on edge computing for real-time image recognition. Notable trends during this forecast period will encompass object detection and recognition in imagery, the integration of image recognition with natural language processing, the utilization of image recognition in the moderation of social media content, the innovation of explainable AI in image recognition, and the adoption of image recognition for crop monitoring in the agricultural industry.
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What Drivers Are Propelling the Growth of Image Recognition Market Forward?
The surging need for security applications and products laced with image recognition capabilities is propelling the growth of the image recognition market. This includes security applications such as facial recognition services which leverage image recognition technology to identify individuals from images. The global rise in terrorist activities, cyberattacks, and identity thefts has amplified the utilization of facial recognition. For example, Techreport published in August 2023, that facial recognition technology is being extensively used in 20% of countries in airports for services like check-in securities and border control. It was primarily focused on personal computing technology and culture. Consequently, the escalating demand for security applications and products is expected to amplify the need for the image recognition market.
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Which Emerging Trends Are Transforming the Image Recognition Market in 2025?
The surge in technological progress is becoming a prominent trend within the image recognition market. Major players in this market are deploying innovative technologies like augmented reality to maintain their market positions. Defined as the overlaying of digital information onto the user's real-time environment, augmented reality (AR) allows users to experience an amalgamation of real-world surroundings and perceptual data curated from visual, auditory, or other sensory input. In a notable example, in October 2023, Klarna, a financial services corporation headquartered in Sweden, inaugurated an inventive AI-driven image recognition instrument, "Shopping Lens," aimed at transforming the user shopping experience. This allows customers to upload images of desired products, turning these visuals into searchable terms and guiding them towards the most favorable deals available on Klarna's app. With the ability to recognize over ten million products and pair them with more than 50 million offers, Shopping Lens is designed to simplify the purchasing process by offering price comparisons, reviews, and similar product suggestions. This move pits it in direct competition with tech giants like Google and Amazon, who also offer comparable tools like Google Lens and Amazon Rekognition.
What Are the Key Segments in the Image Recognition Market?
The image recognition market covered in this report is segmented -
1) By Technique: QR Or Barcode Recognition, Object Recognition, Facial Recognition, Pattern Recognition, Optical Character Recognition
2) By Deployment: Cloud, On-Premises
3) By Component: Hardware, Software, Service
4) By Application: Augmented Reality, Scanning And Imaging, Security And Surveillance, marketing And Advertising, Image Search
5) By Vertical: Retail And E-commerce, Media And Entertainment, BFSI, Automobile And Transportation, IT And Telecom, Government, Healare, Other Verticals
Subsegments:
1) By QR Or Barcode Recognition: 1D Barcode Recognition, 2D Barcode (QR Code) Recognition
2) By Object Recognition: Image Classification, Object Detection
3) By Facial Recognition: 2D Facial Recognition, 3D Facial Recognition
4) By Pattern Recognition: Shape Recognition, Texture Recognition
5) By Optical Character Recognition (OCR): Text Recognition, Handwriting Recognition
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Who Are the Key Players Shaping the Image Recognition Market's Competitive Landscape?
Major companies operating in the image recognition market include Google LLC, Catchoom Technologies S. L., Hitachi Ltd., Honeywell International Inc, Amazon Web Services Inc., Blippar Group Limited, Clarifai Inc., CloudSight Inc., Deepomatic, Descartes Labs Inc., EyeEm Mobile GmbH., Imagga Technologies Ltd., iMerit Technology Services, Kneron Inc., Megvii Technology Limited, Neurala Inc., Nviso SA, Osaro Inc., PTC Inc., Qualcomm Technologies Inc., SenseTime Group Limited, Snap Inc., Toshiba Corporation, ViSenze Pte Ltd., Wikitude GmbH, Zebra Medical Vision Ltd., Zivid AS
What Geographic Markets Are Powering Growth in the Image Recognition Market?
North America was the largest region in the image recognition market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the image recognition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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