Middle East & Africa Image Recognition Market Size & Outlook
Middle East & Africa image recognition market, 2016-2027 (US$M)
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MEA image recognition market highlights
- The MEA image recognition market generated a revenue of USD 1,218.0 million in 2020.
- The market is expected to grow at a CAGR of 21.5% from 2021 to 2027.
- In terms of segment, qr/barcode 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.
MEA data book summary
| Market revenue in 2020 | USD 1,218.0 million |
| Market revenue in 2027 | USD 4,773.5 million |
| Growth rate | 21.5% (CAGR from 2020 to 2027) |
| Largest segment | Qr/barcode 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, MEA region accounted for 3.7% 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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Middle East & Africa 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.
Qr/barcode recognition was the largest segment with a revenue share of 27.32% in 2020. Horizon Databook has segmented the Middle East & Africa 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.
The increasing usage of facial recognition integrated with artificial intelligence i n Middle East countries such as Dubai, is expected to fuel the growth of image recognition market over the forecast period. The media and entertainment vertical of image recognition market in this region is expected to grow at highest CAGR over the forecast period.
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Our clientele includes a mix of image recognition market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Middle East & Africa image recognition market, including forecasts for subscribers. This continent databook contains high-level insights into Middle East & Africa image recognition market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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Middle East & Africa Image Recognition Market Share, 2020 & 2027 (US$M)
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