North America Image Recognition Market Size & Outlook
North America image recognition market, 2016-2027 (US$M)
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North America image recognition market highlights
- The North America image recognition market generated a revenue of USD 11,923.2 million in 2020.
- The market is expected to grow at a CAGR of 15.9% 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, Mexico is expected to register the highest CAGR from 2021 to 2027.
North America data book summary
| Market revenue in 2020 | USD 11,923.2 million |
| Market revenue in 2027 | USD 33,477.2 million |
| Growth rate | 15.9% (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, North America region accounted for 36.5% 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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North America 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 24.01% in 2020. Horizon Databook has segmented the North America 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.
With the rising integration o f image recognition and mobile computing platforms in the field of digital shopping and e-commerce i s expected to fuel the growth of market demand in U.S. The increasing technological advances in the development of autonomous cars in North American region is expected to enhance the market of image recognition over the forecast period.
The rising adoption image recognition technology in various sectors such as banking and healthcare i s expected to increase the market share over the forecast period. Growing integration of artificial intelligence with augmented reality and image recognition platforms i s anticipated to enhance the growth of market i n U.S. and Canada.
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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 North America image recognition market, including forecasts for subscribers. This continent databook contains high-level insights into North America image recognition market from 2016 to 2027, including revenue numbers, major trends, and company profiles.
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North America image recognition market size, by country, 2016-2027 (US$M)
North America Image Recognition Market Share, 2020 & 2027 (US$M)
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