Global AI in Image Recognition Market is estimated at US$ 3.1 billion in 2022

WILMINGTON, Del. - May 24, 2023 - PRLog -- The most recent report released by RationalStat named "AI in Image Recognition" analyzes the regional and global market according to the technology, component, application, end-user, and region.

Market Overview and Dynamic

The AI market for image recognition is projected to expand at a CAGR of 22% or more during the 2022-2028 forecast period. The significant increase in the market value of global AI for image recognition is due to its potential applications in various sectors like automotive banking, financial services and insurance (BFSI), healthcare, security, and retail.

Regional Overview of the AI in Image Recognition Market

North America is anticipated to lead the global AI in image recognition market due to its highly developed ICT infrastructure. It has also witnessed the massive use of connected devices over the past years.

Segmental Analysis

On the basis of application, the scanning and imaging segment is gaining substantial growth owing to several scanning and imaging methods empowered in medical computer vision for diagnosing several diseases.

Competitive Analysis

The global AI in image recognition market observes intense competition as a result of the presence of a large number of well-established players and the emergence of new startups. Startups are looking for ways machine learning can take in data to not only make predictions but interprets the data.

According to the research report by RationalStat, leading and well-known companies and AI-based companies involved in the AI in image recognition market include Amazon Web Services Inc. (Amazon.com Inc.), Alphabet Inc. (Google LLC), Clarifai Inc., IBM Corp., Intel Corp., Micron Technologies Inc., Microsoft Corp., Nvidia Corp., Qualcomm Corp., Samsung Electronics Co., Ltd., and Huawei Technologies Co., Ltd. among others.

RationalStat has segmented the AI in image recognition market on the basis of component, technology, application, end-user, and region.

• Global AI in Image Recognition Market Analysis By Component, 2019-2028
  • Hardware
  • Software
  • Services
• Global AI in Image Recognition Market Analysis By Technology, 2019-2028
  • Code Recognition
  • Pattern Recognition
  • Others (Optical Character Recognition)
• Global AI in Image Recognition Market Analysis By Application, 2019-2028
  • Scanning and Imaging
  • Security and Surveillance
  • Image Search
  • Augmented Reality
• Global AI in Image Recognition Market Analysis By End User, 2019-2028
  • Banking, Financial Services, and Insurance (BFSI)
  • Automobile
  • Healthcare
  • Security
  • Others (Media & Entertainment)
• Global AI in Image Recognition Market Analysis By Region, 2019-2028
  • North America
    • US
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Western Europe
    • Germany
    • France
    • Spain
    • Italy
    • Rest of Western Europe
  • Eastern Europe
    • Russia
    • Poland
    • Rest of Eastern Europe
  • Asia Pacific
    • Japan
    • India
    • South Korea
    • Australia
    • ASEAN (Indonesia, Vietnam, Malaysia, etc.)
  • Middle East & Africa
    • South Africa
    • Turkey
    • Rest of the Middle East & Africa

For more information about this report visit https://store.rationalstat.com/store/global-ai-in-image-recognition/