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#How have key drivers contributed to the rapid growth of the artificial intelligence (ai) image recognition market?
The growing adoption of artificial intelligence (AI) is expected to propel the growth of the AI image recognition market going forward. Artificial intelligence (AI) refers to the simulation of human intelligence processes by machines, especially computer systems. Rising adoption of artificial intelligence helps image recognition by using algorithms to analyze and interpret visual data in a manner similar to how humans perceive and understand images. For instance, in March 2024, according to a report published by the United States Census Bureau, a US-based federal statistical agency, the adoption of AI is increasing swiftly, climbing from 3.7% of companies in Fall 2023 to 5.4% in February 2024, with projections indicating a rise to 6.6% by Fall 2024, while the employment-weighted usage rate suggests that about 12% of workers in firms will be using AI by that time. Therefore, the growing adoption of artificial intelligence (AI) is driving the growth of the AI image recognition market.
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How has the artificial intelligence (ai) image recognition market size evolved, and what are the latest forecasts for its expansion?
The artificial intelligence (AI) image recognition market size has grown rapidly in recent years. It will grow from $2.76 billion in 2024 to $3.29 billion in 2025 at a compound annual growth rate (CAGR) of 19.2%. The growth in the historic period can be attributed to growth in retail automation and self-checkout systems, expansion of autonomous vehicles and advanced driver assistance systems, increasing demand for security and surveillance applications, healthcare innovations in medical imaging and diagnostics, social media applications using facial recognition technologies.
The artificial intelligence (AI) image recognition market size is expected to see rapid growth in the next few years. It will grow to $6.55 billion in 2029 at a compound annual growth rate (CAGR) of 18.8%. The growth in the forecast period can be attributed to smart city initiatives leveraging AI imaging capabilities, government investments in AI-based defense technologies, rising adoption of AI in manufacturing and quality control processes, increasing consumer use of image recognition through mobile apps, emergence of machine learning operations (MLOps) for operationalization of AI image recognition models. Major trends in the forecast period include transition from traditional computer vision to deep learning, use of graph neural networks (GNNs), pre-trained models, focus on edge computing, automated machine learning (AutoML), enhanced data labeling.
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Which major companies dominate the artificial intelligence (ai) image recognition market?
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 trends will shape the future of the artificial intelligence (ai) image generator market?
Major companies operating in the artificial intelligence (AI) image recognition market are focusing on innovative technology, such as AI-powered image recognition tools, to sustain their position in the market. An AI-powered image recognition tool is a computer vision technology that uses artificial intelligence to identify and categorize various elements of images or videos. For instance, in October 2023, Klarna, a US-based fintech company, launched Shopping Lens, a new artificial intelligence (AI)-powered image recognition tool to improve users’ shopping experiences. This tool allows customers to upload a photo of any item they might be interested in purchasing. With artificial intelligence (AI), the tool converts an image into a search term and provides customers with fast access to the best offers on Klarna’s app and where to buy the product.
Which region dominates the artificial intelligence (ai) image recognition market, and what factors contribute to its leadership?
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.
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How is the artificial intelligence (ai) image recognition market segmented, and which segment holds the largest share?
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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What defines the structure and scope of the artificial intelligence (ai) image recognition market?
Artificial intelligence (AI) image recognition is the technology focused on identifying objects of interest within an image and recognizing them using AI technology. Artificial intelligence (AI) image recognition uses artificial intelligence and computer vision to identify and classify specific objects, places, people, text, and actions within digital images and videos.
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