Global Image Recognition Market Size & Outlook, 2020-2027
Global image recognition market, 2016-2027 (US$M)
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Global image recognition market highlights
- The global image recognition market generated a revenue of USD 32,693.1 million in 2020 and is expected to reach USD 109,438.5 million by 2027.
- The market is expected to grow at a CAGR (2021 - 2027) of 18.8% by 2027.
- In terms of segment, object recognition accounted for a revenue of USD 7,093.2 million in 2020.
- Facial Recognition is the most lucrative techniques segment registering the fastest growth during the forecast period.
- In terms of region, North America was the largest revenue generating market in 2020.
- Country-wise, U.S. is expected to register the highest CAGR from 2021 to 2027.
Global data book summary
| Market revenue in 2020 | USD 32,693.1 million |
| Market revenue in 2027 | USD 109,438.5 million |
| Growth rate | 18.8% (CAGR from 2020 to 2027) |
| Largest segment | Object recognition |
| Fastest growing segment | Facial Recognition |
| Historical data covered | 2016 - 2019 |
| Base year for estimation | 2020 |
| Forecast period covered | 2021 - 2027 |
| Quantitative units | Revenue in USD million |
| Market segmentation | QR/Barcode Recognition, Object Recognition, Facial Recognition, Pattern Recognition, Optical Character Recognition |
Other key industry trends
- In terms of revenue, the North America accounted for 36.5% of the global image recognition market in 2020.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2027.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 20,416.8 million by 2027.
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Image Recognition Market Scope
Image Recognition Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Global image recognition market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to image recognition market will help companies and investors design strategic landscapes.
Object recognition was the largest segment with a revenue share of 21.7% in 2020. Horizon Databook has segmented the Global image recognition market based on qr/barcode recognition, object recognition, facial recognition, pattern recognition, optical character recognition covering the revenue growth of each sub-segment from 2016 to 2027.
- Global Image Recognition Techniques Outlook (Revenue, USD Million, 2016-2027)
- QR/Barcode Recognition
- Object Recognition
- Facial Recognition
- Pattern Recognition
- Optical Character Recognition
- Global Image Recognition Application Outlook (Revenue, USD Million, 2016-2027)
- Augmented Reality
- Scanning & Imaging
- Security & Surveillance
- Marketing & Advertising
- Image Search
- Global Image Recognition Component Outlook (Revenue, USD Million, 2016-2027)
- Hardware
- Software
- Service
- Global Image Recognition Deployment Mode Outlook (Revenue, USD Million, 2016-2027)
- On-Premises
- Cloud
- Global Image Recognition Vertical Outlook (Revenue, USD Million, 2016-2027)
- Retail & E-commerce
- Media & Entertainment
- BFSI
- Automobile & Transportation
- Telecom & IT
- Government
- Healthcare
- Others
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Target buyers of Global image recognition market databook
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Our clientele includes a mix of image recognition market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global image recognition market, including forecasts for subscribers. This global databook contains high-level insights into Global image recognition market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Global image recognition market size, by regions, 2016-2027 (US$M)
Top 10 countries: Image recognition market size, 2020 (US$M)
Global image recognition market share, by techniques, 2020 & 2027 (%, US$M)
Image recognition market: Opportunity assessment by country
Global image recognition market, by region, 2020 (US$M)
| Techniques | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | CAGR |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| North America | 6,381.8 | 7,441.1 | 8,699.1 | 10,183.5 | 11,923.2 | 13,934.0 | 16,235.4 | 18,856.8 | 21,838.4 | 25,228.4 | 29,088.0 | 33,477.2 | 15.9% |
| Europe | 4,450.4 | 5,238.4 | 6,184.2 | 7,313.1 | 8,652.7 | 10,222.3 | 12,045.6 | 14,154.9 | 16,593.0 | 19,411.9 | 22,676.9 | 26,457.3 | 17.3% |
| Asia Pacific | 3,613.3 | 4,482.3 | 5,568.7 | 6,921.1 | 8,595.9 | 10,648.2 | 13,143.1 | 16,162.5 | 19,810.0 | 24,212.1 | 29,528.0 | 35,940.6 | 22.7% |
| Latin America | 1,038.6 | 1,263.9 | 1,542.3 | 1,884.6 | 2,303.4 | 2,810.4 | 3,419.4 | 4,148.1 | 5,018.8 | 6,058.9 | 7,302.9 | 8,789.9 | 21.1% |
| MEA | 538.7 | 658.9 | 808.0 | 992.0 | 1,218.0 | 1,492.5 | 1,823.4 | 2,220.7 | 2,697.0 | 3,267.9 | 3,952.7 | 4,773.5 | 21.6% |
| Overall | 16,022.6 | 19,084.6 | 22,802.2 | 27,294.3 | 32,693.1 | 39,107.4 | 46,666.9 | 55,542.9 | 65,957.2 | 78,179.1 | 92,548.4 | 109,438.5 | 18.8% |
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