Global Image Recognition Market Size & Outlook, 2020-2027
The image recognition industry worldwide is expected to reach a projected revenue of US$ 109,438.5 million by 2027. A compound annual growth rate of 18.8% is expected of the worldwide image recognition industry from 2021 to 2027.
Revenue, 2020 (US$M)
$32,693.1
Forecast, 2027 (US$M)
$109,438.5
CAGR, 2021 - 2027
18.8%
Report Coverage
Worldwide
Global image recognition market, 2016-2027 (US$M)
Related Markets
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 segmentation & scope
Others
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.
Partial client list
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)
Related regional statistics
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