Artificial Intelligence (AI) Image Recognition Market Research Analysis 2024-2033 | Growth, Size, Demand, Analysis, Insights

Overview and Scope

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.

Sizing and Forecast

The artificial intelligence (AI) image recognition market size has grown rapidly in recent years. It will grow from $2.32 billion in 2023 to $2.76 billion in 2024 at a compound annual growth rate (CAGR) of 19.1%.  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.

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Segmentation & Regional Insights

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

North America was the largest region in the artificial intelligence (AI) image recognition market in 2023. 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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Major Driver Impacting Market Growth

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 January 2022, according to a survey of 7,502 businesses by International Business Machines Corporation, a US-based technology corporation, around 20% of respondents reported adopting AI in at least one business area, whereas in 2022, that figure stands at 50%. Therefore, the growing adoption of artificial intelligence (AI) is driving the growth of the AI image recognition market.

Key Industry Players

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

The artificial intelligence (ai) image recognition market report table of contents includes:

1. Executive Summary
2. Artificial Intelligence (AI) Image Recognition Market Characteristics
3. Artificial Intelligence (AI) Image Recognition Market Trends And Strategies
4. Artificial Intelligence (AI) Image Recognition Market – Macro Economic Scenario
5. Global Artificial Intelligence (AI) Image Recognition Market Size and Growth

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32. Global Artificial Intelligence (AI) Image Recognition Market Competitive Benchmarking
33. Global Artificial Intelligence (AI) Image Recognition Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence (AI) Image Recognition Market
35. Artificial Intelligence (AI) Image Recognition Market Future Outlook and Potential Analysis
36. Appendix

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