Summary

The global image recognition market size reached US$ 41.1 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 145.9 Billion by 2032, exhibiting a growth rate (CAGR) of 14.7% during 2024-2032.

Image recognition refers to a technological solution used for identifying objects, people, places and actions in images. It utilizes machine vision technologies with predefined algorithms and artificial intelligence (AI) to interpret a matrix of numerical values in a digital image. The algorithm maps out a pattern or relationship in subsequent images to improve the accuracy of the results. Some of the commonly used algorithms include Principal Component Analysis (PCA), Scale-invariant Feature Transform (SIFT) and Speeded Up Robust Features (SURF). These technologies are also used for performing machine-based visual tasks, such as labeling contents of images with meta-tags, performing image content search and guiding self-driving cars, autonomous robots and accident avoidance systems.

Image Recognition Market Trends:
Rapid digitization across industries, along with the widespread adoption of AI-based systems, are among the key factors driving the growth of the market. Furthermore, the increasing utilization of image recognition technologies for digital marketing applications is providing a thrust to the market growth. E-commerce service providers integrate their application’s programming interface with the image recognition tools to assist with the monitoring of return on investment (RoI) and enhancing brand productivity. Additionally, various technological advancements, such as the improvements in AI, big data and machine learning (ML) systems, are acting as other growth-inducing factors. This enables law enforcement agencies to run visual analytics for biometric scanning machines, pedestrian recognition and vehicle tracking. Other factors, including significant improvements in the information technology (IT) infrastructure, along with extensive research and development (R&D) activities, are anticipated to drive the market further.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global image recognition market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, technology, application, deployment type and end use industry.
Breakup by Component:
• Hardware
• Software
• Services

Breakup by Technology:
• Object Detection
• QR/Barcode Recognition
• Facial Recognition
• Pattern Recognition
• Optical Character Recognition
• Others

Breakup by Application:
• Scanning and Imaging
• Security and Surveillance
• Image Searching
• Augmented Reality
• Marketing and Advertising
• Others

Breakup by Deployment Type:
• On-premises
• Cloud-based

Breakup by End Use Industry:
• BFSI
• Media and Entertainment
• IT and Telecom
• Government
• Healthcare
• Transportation and Logistics
• Others

Breakup by Region:
• North America
o United States
o Canada
• Asia Pacific
o China
o Japan
o India
o South Korea
o Australia
o Indonesia
o Others
• Europe
o Germany
o France
o United Kingdom
o Italy
o Spain
o Russia
o Others
• Latin America
o Brazil
o Mexico
o Others
• Middle East and Africa

Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Amazon Web Services Inc. (Amazon.com Inc.), Attrasoft Inc., Google LLC (Alphabet Inc.), Hitachi Ltd., Honeywell International Inc., International Business Machines Corporation, Microsoft Corporation, NEC Corporation, Qualcomm Technologies Inc. (Qualcomm Incorporated), Slyce Inc. and Wikitude GmbH.

Key Questions Answered in This Report
1. How big is the global image recognition market?
2. What is the expected growth rate of the global image recognition market during 2024-2032?
3. What are the key factors driving the global image recognition market?
4. What has been the impact of COVID-19 on the global image recognition market?
5. What is the breakup of the global image recognition market based on the component?
6. What is the breakup of the global image recognition market based on the technology?
7. What is the breakup of the global image recognition market based on the application?
8. What is the breakup of the global image recognition market based on the deployment type?
9. What is the breakup of the global image recognition market based on the end use industry?
10. What are the key regions in the global image recognition market?
11. Who are the key players/companies in the global image recognition market?

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Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Image Recognition Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Hardware
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Software
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Services
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Technology
7.1 Object Detection
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 QR/Barcode Recognition
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Facial Recognition
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Pattern Recognition
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Optical Character Recognition
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Others
7.6.1 Market Trends
7.6.2 Market Forecast
8 Market Breakup by Application
8.1 Scanning and Imaging
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Security and Surveillance
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Image Searching
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Augmented Reality
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Marketing and Advertising
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Others
8.6.1 Market Trends
8.6.2 Market Forecast
9 Market Breakup by Deployment Type
9.1 On-premises
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Cloud-based
9.2.1 Market Trends
9.2.2 Market Forecast
10 Market Breakup by End Use Industry
10.1 BFSI
10.1.1 Market Trends
10.1.2 Market Forecast
10.2 Media and Entertainment
10.2.1 Market Trends
10.2.2 Market Forecast
10.3 IT and Telecom
10.3.1 Market Trends
10.3.2 Market Forecast
10.4 Government
10.4.1 Market Trends
10.4.2 Market Forecast
10.5 Healthcare
10.5.1 Market Trends
10.5.2 Market Forecast
10.6 Transportation and Logistics
10.6.1 Market Trends
10.6.2 Market Forecast
10.7 Others
10.7.1 Market Trends
10.7.2 Market Forecast
11 Market Breakup by Region
11.1 North America
11.1.1 United States
11.1.1.1 Market Trends
11.1.1.2 Market Forecast
11.1.2 Canada
11.1.2.1 Market Trends
11.1.2.2 Market Forecast
11.2 Asia Pacific
11.2.1 China
11.2.1.1 Market Trends
11.2.1.2 Market Forecast
11.2.2 Japan
11.2.2.1 Market Trends
11.2.2.2 Market Forecast
11.2.3 India
11.2.3.1 Market Trends
11.2.3.2 Market Forecast
11.2.4 South Korea
11.2.4.1 Market Trends
11.2.4.2 Market Forecast
11.2.5 Australia
11.2.5.1 Market Trends
11.2.5.2 Market Forecast
11.2.6 Indonesia
11.2.6.1 Market Trends
11.2.6.2 Market Forecast
11.2.7 Others
11.2.7.1 Market Trends
11.2.7.2 Market Forecast
11.3 Europe
11.3.1 Germany
11.3.1.1 Market Trends
11.3.1.2 Market Forecast
11.3.2 France
11.3.2.1 Market Trends
11.3.2.2 Market Forecast
11.3.3 United Kingdom
11.3.3.1 Market Trends
11.3.3.2 Market Forecast
11.3.4 Italy
11.3.4.1 Market Trends
11.3.4.2 Market Forecast
11.3.5 Spain
11.3.5.1 Market Trends
11.3.5.2 Market Forecast
11.3.6 Russia
11.3.6.1 Market Trends
11.3.6.2 Market Forecast
11.3.7 Others
11.3.7.1 Market Trends
11.3.7.2 Market Forecast
11.4 Latin America
11.4.1 Brazil
11.4.1.1 Market Trends
11.4.1.2 Market Forecast
11.4.2 Mexico
11.4.2.1 Market Trends
11.4.2.2 Market Forecast
11.4.3 Others
11.4.3.1 Market Trends
11.4.3.2 Market Forecast
11.5 Middle East and Africa
11.5.1 Market Trends
11.5.2 Market Breakup by Country
11.5.3 Market Forecast
12 SWOT Analysis
12.1 Overview
12.2 Strengths
12.3 Weaknesses
12.4 Opportunities
12.5 Threats
13 Value Chain Analysis
14 Porters Five Forces Analysis
14.1 Overview
14.2 Bargaining Power of Buyers
14.3 Bargaining Power of Suppliers
14.4 Degree of Competition
14.5 Threat of New Entrants
14.6 Threat of Substitutes
15 Price Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Key Players
16.3 Profiles of Key Players
16.3.1 Amazon Web Services Inc. (Amazon.com Inc.)
16.3.1.1 Company Overview
16.3.1.2 Product Portfolio
16.3.1.3 SWOT Analysis
16.3.2 Attrasoft Inc.
16.3.2.1 Company Overview
16.3.2.2 Product Portfolio
16.3.3 Google LLC (Alphabet Inc.)
16.3.3.1 Company Overview
16.3.3.2 Product Portfolio
16.3.3.3 SWOT Analysis
16.3.4 Hitachi Ltd.
16.3.4.1 Company Overview
16.3.4.2 Product Portfolio
16.3.4.3 Financials
16.3.4.4 SWOT Analysis
16.3.5 Honeywell International Inc.
16.3.5.1 Company Overview
16.3.5.2 Product Portfolio
16.3.5.3 Financials
16.3.5.4 SWOT Analysis
16.3.6 International Business Machines Corporation
16.3.6.1 Company Overview
16.3.6.2 Product Portfolio
16.3.6.3 Financials
16.3.6.4 SWOT Analysis
16.3.7 Microsoft Corporation
16.3.7.1 Company Overview
16.3.7.2 Product Portfolio
16.3.7.3 Financials
16.3.7.4 SWOT Analysis
16.3.8 NEC Corporation
16.3.8.1 Company Overview
16.3.8.2 Product Portfolio
16.3.8.3 Financials
16.3.8.4 SWOT Analysis
16.3.9 Qualcomm Technologies Inc. (Qualcomm Incorporated)
16.3.9.1 Company Overview
16.3.9.2 Product Portfolio
16.3.10 Slyce Inc.
16.3.10.1 Company Overview
16.3.10.2 Product Portfolio
16.3.11 Wikitude GmbH
16.3.11.1 Company Overview
16.3.11.2 Product Portfolio
16.3.11.3 Financials
List of Figures
Figure 1: Global: Image Recognition Market: Major Drivers and Challenges
Figure 2: Global: Image Recognition Market: Sales Value (in Billion US$), 2018-2023
Figure 3: Global: Image Recognition Market: Breakup by Component (in %), 2023
Figure 4: Global: Image Recognition Market: Breakup by Technology (in %), 2023
Figure 5: Global: Image Recognition Market: Breakup by Application (in %), 2023
Figure 6: Global: Image Recognition Market: Breakup by Deployment Type (in %), 2023
Figure 7: Global: Image Recognition Market: Breakup by End Use Industry (in %), 2023
Figure 8: Global: Image Recognition Market: Breakup by Region (in %), 2023
Figure 9: Global: Image Recognition Market Forecast: Sales Value (in Billion US$), 2024-2032
Figure 10: Global: Image Recognition (Hardware) Market: Sales Value (in Million US$), 2018 & 2023
Figure 11: Global: Image Recognition (Hardware) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 12: Global: Image Recognition (Software) Market: Sales Value (in Million US$), 2018 & 2023
Figure 13: Global: Image Recognition (Software) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 14: Global: Image Recognition (Services) Market: Sales Value (in Million US$), 2018 & 2023
Figure 15: Global: Image Recognition (Services) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 16: Global: Image Recognition (Object Detection) Market: Sales Value (in Million US$), 2018 & 2023
Figure 17: Global: Image Recognition (Object Detection) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 18: Global: Image Recognition (QR/Barcode Recognition) Market: Sales Value (in Million US$), 2018 & 2023
Figure 19: Global: Image Recognition (QR/Barcode Recognition) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 20: Global: Image Recognition (Facial Recognition) Market: Sales Value (in Million US$), 2018 & 2023
Figure 21: Global: Image Recognition (Facial Recognition) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 22: Global: Image Recognition (Pattern Recognition) Market: Sales Value (in Million US$), 2018 & 2023
Figure 23: Global: Image Recognition (Pattern Recognition) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 24: Global: Image Recognition (Optical Character Recognition) Market: Sales Value (in Million US$), 2018 & 2023
Figure 25: Global: Image Recognition (Optical Character Recognition) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 26: Global: Image Recognition (Other Technologies) Market: Sales Value (in Million US$), 2018 & 2023
Figure 27: Global: Image Recognition (Other Technologies) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 28: Global: Image Recognition (Scanning and Imaging) Market: Sales Value (in Million US$), 2018 & 2023
Figure 29: Global: Image Recognition (Scanning and Imaging) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 30: Global: Image Recognition (Security and Surveillance) Market: Sales Value (in Million US$), 2018 & 2023
Figure 31: Global: Image Recognition (Security and Surveillance) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 32: Global: Image Recognition (Image Searching) Market: Sales Value (in Million US$), 2018 & 2023
Figure 33: Global: Image Recognition (Image Searching) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 34: Global: Image Recognition (Augmented Reality) Market: Sales Value (in Million US$), 2018 & 2023
Figure 35: Global: Image Recognition (Augmented Reality) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 36: Global: Image Recognition (Marketing and Advertising) Market: Sales Value (in Million US$), 2018 & 2023
Figure 37: Global: Image Recognition (Marketing and Advertising) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 38: Global: Image Recognition (Other Applications) Market: Sales Value (in Million US$), 2018 & 2023
Figure 39: Global: Image Recognition (Other Applications) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 40: Global: Image Recognition (On-premises) Market: Sales Value (in Million US$), 2018 & 2023
Figure 41: Global: Image Recognition (On-premises) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 42: Global: Image Recognition (Cloud-based) Market: Sales Value (in Million US$), 2018 & 2023
Figure 43: Global: Image Recognition (Cloud-based) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 44: Global: Image Recognition (BFSI) Market: Sales Value (in Million US$), 2018 & 2023
Figure 45: Global: Image Recognition (BFSI) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 46: Global: Image Recognition (Media and Entertainment) Market: Sales Value (in Million US$), 2018 & 2023
Figure 47: Global: Image Recognition (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 48: Global: Image Recognition (IT and Telecom) Market: Sales Value (in Million US$), 2018 & 2023
Figure 49: Global: Image Recognition (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 50: Global: Image Recognition (Government) Market: Sales Value (in Million US$), 2018 & 2023
Figure 51: Global: Image Recognition (Government) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 52: Global: Image Recognition (Healthcare) Market: Sales Value (in Million US$), 2018 & 2023
Figure 53: Global: Image Recognition (Healthcare) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 54: Global: Image Recognition (Transportation and Logistics) Market: Sales Value (in Million US$), 2018 & 2023
Figure 55: Global: Image Recognition (Transportation and Logistics) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 56: Global: Image Recognition (Other End Use Industries) Market: Sales Value (in Million US$), 2018 & 2023
Figure 57: Global: Image Recognition (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 58: North America: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 59: North America: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 60: United States: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 61: United States: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 62: Canada: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 63: Canada: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 64: Asia Pacific: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 65: Asia Pacific: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 66: China: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 67: China: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 68: Japan: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 69: Japan: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 70: India: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 71: India: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 72: South Korea: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 73: South Korea: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 74: Australia: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 75: Australia: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 76: Indonesia: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 77: Indonesia: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 78: Others: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 79: Others: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 80: Europe: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 81: Europe: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 82: Germany: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 83: Germany: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 84: France: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 85: France: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 86: United Kingdom: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 87: United Kingdom: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 88: Italy: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 89: Italy: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 90: Spain: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 91: Spain: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 92: Russia: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 93: Russia: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 94: Others: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 95: Others: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 96: Latin America: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 97: Latin America: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 98: Brazil: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 99: Brazil: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 100: Mexico: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 101: Mexico: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 102: Others: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 103: Others: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 104: Middle East and Africa: Image Recognition Market: Sales Value (in Million US$), 2018 & 2023
Figure 105: Middle East and Africa: Image Recognition Market Forecast: Sales Value (in Million US$), 2024-2032
Figure 106: Global: Image Recognition Industry: SWOT Analysis
Figure 107: Global: Image Recognition Industry: Value Chain Analysis
Figure 108: Global: Image Recognition Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Image Recognition Market: Key Industry Highlights, 2023 and 2032
Table 2: Global: Image Recognition Market Forecast: Breakup by Component (in Million US$), 2024-2032
Table 3: Global: Image Recognition Market Forecast: Breakup by Technology (in Million US$), 2024-2032
Table 4: Global: Image Recognition Market Forecast: Breakup by Application (in Million US$), 2024-2032
Table 5: Global: Image Recognition Market Forecast: Breakup by Deployment Type (in Million US$), 2024-2032
Table 6: Global: Image Recognition Market Forecast: Breakup by End Use Industry (in Million US$), 2024-2032
Table 7: Global: Image Recognition Market Forecast: Breakup by Region (in Million US$), 2024-2032
Table 8: Global: Image Recognition Market Structure
Table 9: Global: Image Recognition Market: Key Players