Europe Image Recognition Market Size & Outlook, 2020-2027
Europe image recognition market, 2016-2027 (US$M)
Related Markets
Europe image recognition market highlights
- The Europe image recognition market generated a revenue of USD 8,652.7 million in 2020.
- The market is expected to grow at a CAGR of 17.3% from 2021 to 2027.
- In terms of segment, facial recognition was the largest revenue generating techniques in 2020.
- Facial Recognition is the most lucrative techniques segment registering the fastest growth during the forecast period.
- Country-wise, UK is expected to register the highest CAGR from 2021 to 2027.
Europe data book summary
| Market revenue in 2020 | USD 8,652.7 million |
| Market revenue in 2027 | USD 26,457.3 million |
| Growth rate | 17.3% (CAGR from 2020 to 2027) |
| Largest segment | Facial 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 |
| Key market players worldwide | Blinkfire Analytics, CloudSight Inc., Alphabet Inc Class A, Attrasoft, Hitachi Ltd, Honeywell International Inc, NEC Corp, Qualcomm Inc, Syte, Wikitude |
Other key industry trends
- In terms of revenue, Europe region accounted for 26.5% of the global image recognition market in 2020.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2027.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 35,940.6 million by 2027.
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Image Recognition Market Scope
Image Recognition Market Companies
| Name | Profile | # Employees | HQ | Website |
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Europe 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.
Facial recognition was the largest segment with a revenue share of 24.65% in 2020. Horizon Databook has segmented the Europe 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.
Rising applications of machine vision systems in industrial automation and inspection is projected t o enhance the market of image recognition in European countries. The rising advancement i n automobile obstacle detection technologies is expected to fuel the growth of image recognition in automobile sector over the forecast period.
Rising penetration of image recognition in social media platforms and enhanced applications of this technologies in healthcare such as increased connectivity between experts is anticipated to enhance the market growth.
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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 continent-level data and insights on the Europe image recognition market, including forecasts for subscribers. This continent databook contains high-level insights into Europe image recognition market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Europe image recognition market size, by country, 2016-2027 (US$M)
Europe Image Recognition Market Share, 2020 & 2027 (US$M)
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