AI Image Recognition Market Report: Trends, Forecast and Competitive Analysis to 2030

AI Image Recognition Trends and Forecast

The future of the global AI image recognition market looks promising with opportunities in the automotive, BFSI, healthcare, retail, and security markets. The global AI image recognition market is expected to reach an estimated $14.3 billion by 2030 with a CAGR of 20.0% from 2024 to 2030. The major drivers for this market are growing adoption of face recognition systems in surveillance and security spots, growing preference for qr/barcode recognition technology ,and increasing deploymeng of AI technology in diagnostics imaging.

A more than 150-page report is developed to help in your business decisions.

AI Image Recognition by Segment

The study includes a forecast for the global AI image recognition by type, end use industry, end use industry, technology, and region.

AI Image Recognition Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• Hardware
• Software
• Services

AI Image Recognition Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Automotive
• BFSI
• Healthcare
• Retail
• Security
• Others

AI Image Recognition Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of AI Image Recognition Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies AI image recognition companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the AI image recognition companies profiled in this report include-

• Amazon Web Services
• Clarifai
• IBM
• Intel
• Google

AI Image Recognition Market Insights

Lucintel forecast that software is expected to witness highest growth over the forecast period due to its significant use to identify places, objects, people, writing, and actions in images.

Security will remain the largest segment due to widespread use of image recognition in various security applications, such as facial recognition, object detection, and license plate recognition.

APAC is expected to witness highest growth over the forecast period due to rapid digitization, growing use of AI image recognition integrated ecommerce platforms in the region and growing use of facial recognition cameras in high-tech gates at china schools.

Features of the Global AI Image Recognition Market

Market Size Estimates: AI image recognition market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: AI image recognition market size by type, end use industry, and region. in terms of value ($B).

Regional Analysis: AI image recognition market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, end use industry, and region.s for the AI image recognition market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the AI image recognition market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q.1. What is the AI image recognition market size?

Answer: The global AI image recognition market is expected to reach an estimated $14.3 billion by 2030.

Q.2. What is the growth forecast for AI image recognition market?

Answer: The global AI image recognition market is expected to grow with a CAGR of 20.0% from 2024 to 2030.

Q.3. What are the major drivers influencing the growth of the AI image recognition market?

Answer: The major drivers for this market are growing adoption of face recognition systems in surveillance and security spots, growing preference for qr/barcode recognition technology, and increasing deploymeng of AI technology in diagnostics imaging .

Q.4. What are the major segments for AI image recognition market?

Answer: The future of the AI image recognition market looks promising with opportunities in the automotive, BFSI, healthcare, retail, and security markets.

Q.5. Who are the key AI image recognition market companies?

Answer: Some of the key AI image recognition companies are as follows:

• Amazon Web Services
• Clarifai
• IBM
• Intel
• Google

Q.6. Which AI image recognition market segment will be the largest in future?

Answer: Lucintel forecast that software is expected to witness highest growth over the forecast period due to its significant use to identify places, objects, people, writing, and actions in images.

Q.7. In AI image recognition market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to rapid digitization, growing use of AI image recognition integrated ecommerce platforms in the region and growing use of facial recognition cameras in high-tech gates at china schools.

Q.8. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the AI image recognition market by type (hardware, software, and services), end use industry (automotive, BFSI, healthcare, retail, security, and others), and region. (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?