AI image recognition not only decrypts images, but it also has a predictive capability. Software and applications which are trained for decoding images are smart enough to recognize places, handwriting, people, objects and actions in the images or videos. The core of the artificial intelligence is to deploy a huge amount of data to make informed decisions. Image recognition is a crucial element of artificial intelligence which is getting widespread with every passing day. The global AI image recognition market is projected to expand at a significant pace in the coming few years. This is owing to the rising application of image-based virtual tasks and barcode scanning devices and deployment of the AI image recognition technology in automation, advertising, security surveillance, monitoring purpose are few of the key factors anticipated to propel the global AI image recognition market. Furthermore, the factors such as easy internet accessibility, increasing disposable income and rising penetration of the e-commerce, increasing popularity of social media are also estimated to majorly fuel to the global AI image recognitions market over the forecast period. Few other factors such as digital shopping and document verification are accelerating market growth are projected to compel the AI image recognition market. Additionally, the surging demand for virtual market and escalating number of unstructured multimedia data are providing immense potential for image recognition solutions. Also the rising government investments to revolutionize several sectors such as healthcare, transport etc as well as the imaging technology is highly used by Facebook to identify and eliminate fake social accounts as it can identify 98% of its images correctly is also a key factor.

Lastly, rising investments in the market by the vendors such as Huawei and Apple is anticipated to provide number of new opportunities to the AI image recognition market. In addition to this, the rising internet accessibility, increasing popularity of social media, and emerging e-commerce can also offer lucrative opportunities to propel the growth of the AI image recognition market.

The global AI Image Recognition Market is segregated on the basis of Type as Hardware, Software and Services. Based on End-user Vertical the global AI Image Recognition Market is segmented in Automotive, BFSI, Healthcare, Retail, Security and Other End-user Verticals.

The global AI Image Recognition Market report provides geographic analysis covering regions, such as Europe, North America, Asia Pacific, and Rest of The World. The AI Image Recognition Market for each region is further segmented for major countries including the U.S., Canada, Germany, the U.K., France, Italy, China, India, Japan, Brazil, South Africa, and others.

Competitive Analysis

IBM Corporation, Imagga Technologies Ltd, Amazon Web Services, Inc, Qualcomm, Google LLC and others are among the major players in the global AI Image Recognition Market. The companies studied in terms of product strategy and various n several growth and expansion strategies to gain a competitive edge in the market. The major players not only follow value chain integration with business operations in multiple stages of the value chain.

• In November 2017, the Amazon Web Services (AWS) introduced five new machine learning services and deep learning video cameras facilitated for users. It has favored the developers in various applications such as speech to text, translate text between languages, analyze videos and derive insights from text.
• In March 2019, Amazon Rekognition is cloud-based software launched improved face analysis which is the overall fifth model update since the introduction of the service. Face Analysis is a distinctive feature which is generally used in big organizations. It assists in creating rich metadata about detected faces in the form of gender, age range, emotions, attributes such as ‘Eyeglasses’, ‘Smile’ and ‘Beard’, face image quality, face pose and face landmarks.
• In April 2019, the Google collaborated with the Altos for the launch of its new artificial intelligence laboratory in Paris. This facility will support the public & private organizations to identify some of the artificial intelligence used cases. It co-creates and prototypes of workable AI solutions which are rapidly propelling the adoption of this advanced technology.

The global AI Image Recognition Market has been segmented as below:

AI Image Recognition Market, By Type

• Hardware
• Software
• Services

AI Image Recognition Market, By End-user Vertical

• Automotive
• BFSI
• Healthcare
• Retail
• Security
• Other End-user Verticals

AI Image Recognition Market, By Region

• Europe
• North America
• Asia Pacific
• Rest of The World

AI Image Recognition Market, By Company

• IBM Corporation
• Imagga Technologies Ltd
• Amazon Web Services, Inc
• Qualcomm
• Google LLC
• Microsoft Corporation
• Trax Technology Solutions Pte Ltd
• NEC Corporation
• LTUTech
• Ricoh Company, Ltd
• Catchoom Technologies S.L
• Intel Corporation
• Honeywell International Inc
• Hitachi, Ltd
• Intelligence Retail
• Slyce Acquisition Inc
• Blippar Ltd
• Wikitude GmbH

The report covers the below scope:

• Global AI Image Recognition Market sizes from 2020 to 2026, along with CAGR for 2020-2026
• Market size comparison for 2019 vs 2026, with actual data for 2019, estimates for 2019 and forecast from 2020 to 2026
• Global AI Image Recognition Market trends, covering comprehensive range of consumer trends & manufacturer trends
• Value chain analysis covering participants from raw material suppliers to the downstream buyer in the global AI Image Recognition Market
• Major market opportunities and challenges in forecast timeframe to be focused
• Competitive landscape with analysis on competition pattern, portfolio comparisons, development trends and strategic management
• Comprehensive company profiles of the key industry players

The years considered for the study are as follows:

• Base year - 2019
• Estimated year - 2019
• Projected year - 2020
• Forecast period - 2021 to 2026

Report Scope:

The global AI Image Recognition Market report scope includes detailed study covering underlying factors influencing the industry trends. The report covers analysis on regional and country level market dynamics. The scope also covers competitive overview providing company market shares along with company profiles for major revenue contributing companies. The report scope includes detailed competitive outlook covering market shares and profiles key participants in the global AI Image Recognition Market share. Major industry players with significant revenue share include IBM Corporation, Imagga Technologies Ltd, Amazon Web Services, Inc, Qualcomm, Google LLC and others.

Why to Buy this Report:

• Gain detailed insights on the AI Image Recognition industry trends
• Find complete analysis on the market status
• Identify the AI Image Recognition Market opportunities and growth segments
• Analyse competitive dynamics by evaluating business segments & product portfolios
• Facilitate strategy planning and industry dynamics to enhance decision making

Target Audience:

• The report targeted towards the existing players in the industry is as follows:
• Market Manufacturers/Service Providers
• Market Wholesale/Traders
• Investment and Financial Institutions

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