Image Recognition Market was valued at US$ 29 Bn. in 2021. Global Image Recognition Market size is expected to grow at a CAGR of 16 % through the forecast period.

Image Recognition Market Overview:

The Image Recognition Market research provides a comprehensive insight into the competition, including the market share and company profiles of the world's biggest rivals. The research scope covers a comprehensive examination of the Image Recognition Market , as well as the causes for variances in the industry's growth across a variety of sectors.

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Market Scope:

Top-down and bottom-up approaches are used to validate market and estimate market by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market in the relevant area or nation.

Segmentation:

During the forecast period, it is anticipated that the trend of employing digital image processing with API in the creation of computer vision-related applications would increase demand for the image recognition market. For instance, numerous API platforms are utilized to improve the application's capacity to identify objects, such as Amazon Recognitions, which offers the option of integrating picture or video analytics. Additionally, Microsoft Computer Vision API, a cloud-based API tool made available to developers, gives access to pictures for image processing and content visualization. Many companies and organizations require picture recognition software to increase content discoverability and speed up text extraction.



Key Players:

The biggest players in the Image Recognition Market are as follows:


• Wikitude
• Huawei
• Honeywell
• Toshiba
• Oracle
• Trigo
• INFFRD
• AIRY3D
• Standard Cognition
• Unispectral LTD
• Snap2Insight
• restb.ai
• Vize by Ximilar
• Mirror that Lock
• IBM
• Google
• Qualcomm
• Microsoft
• AWS
• Trax
• NEC Corporation
• Catchoom
• Slyce
• LTU Tech
• Vispera
• Blippar
• Clarifai

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Regional Analysis:

Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Image Recognition Market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on Image Recognition Market :

End-user industries where Image Recognition Market are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Image Recognition Market manufacturers, harming the Image Recognition Market 's growth in 2020. End-user business demand for Image Recognition Market has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.

Key Questions Answered in the Image Recognition Market Report are:

In 2021, which segment accounted for the most share of the Image Recognition Market ?
What is the competitive landscape of the Image Recognition Market ?
What are the key factors influencing Image Recognition Market growth?
In the Image Recognition Market , which region has the most market share?
What will be the CAGR of the Image Recognition Market during the forecast period (2021-2029)?
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