Digital Image Processing Market Size To Reach $21.73 Billion By 2030

Digital Image Processing Market Growth & Trends

The global digital image processing market size is expected to reach USD 21.73 billion by 2030, growing at a lucrative CAGR of 19.7% from 2023 to 2030, according to a new report by Grand View Research, Inc. Advancements in imaging techniques, such as 3D imaging, hyperspectral imaging, and multispectral imaging, have broadened the applications of digital image processing. These advanced techniques find their use in numerous sectors, including healthcare, agriculture, environmental monitoring, and defense. In healthcare, these imaging techniques are used for early disease detection and surgical planning.

The incorporation of AI and ML into image processing solutions represents a transformative development in the field. These cutting-edge technologies have revolutionized image processing by enabling automated image recognition and classification, paving the way for highly efficient and sophisticated image analysis. Moreover, there is a growing demand for real-time image processing, spurred by applications like autonomous vehicles, where the capability to make instant decisions is paramount. AI and ML algorithms play a key role in this context, as they enable vehicles to rapidly interpret and respond to the dynamic environment, ensuring safety and efficient navigation.

Customization and personalization have become increasingly achievable features in image processing solutions. Businesses are recognizing the value of having tailored solutions that specifically address their unique needs and challenges. This allows organizations to align image processing technology with their specific objectives, making it a powerful tool for meeting their individual goals. The demand for customization and personalization arises from the diverse requirements of different industries and businesses. Image processing applications can vary significantly, from medical image analysis to retail product recognition or autonomous vehicle navigation. By offering customization options, technology providers enable organizations to fine-tune image processing solutions to match their exact use cases and expectations.

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Digital Image Processing Market Report Highlights

• Based on components, the software segment led the market in 2022, accounting for a 65% share of the global revenue.The market for software is growing rapidly due to the systems evolving over time, also, digital image processing software does not need special drivers like hardware devices

• Based on application, the object recognition segment led the market in 2022, accounting for over 28.0% share of global revenue. This growth is attributed to the advances in object detection algorithms convolutional neural network (CNN) is one of the most advanced object detection algorithms in the world. CNNs are used to identify and classify objects in images and videos

• Based on end-use, the retail & e-commerce segment led the market in 2022, accounting for over 27.0% share of the global revenue.Digital image processing (DOP) and computer vision (CV) technologies have revolutionized many aspects of the retail industry, from customer experience (CX) to inventory management (inventory management), security, and marketing

• The digital image processing industry in North America experienced substantial growth in the year 2022, driven by the growing demand for digital images and video across a wide range of industries

Digital Image Processing Market Segmentation

Grand View Research has segmented the global digital image processing market based on component, application, end-use industry, and region:

Digital Image Processing Component Outlook (Revenue, USD Million, 2017 - 2030)

• Software

• Services

Digital Image Processing Application Outlook (Revenue, USD Million, 2017 - 2030)

• Visual Product Search

• Object Recognition

• Vision Analytics

• Others

Digital Image Processing End-use Industry Outlook (Revenue, USD Million, 2017 - 2030)

• Healthcare

• Automobile & Transportation

• BFSI

• Retail & E-commerce

• Others

Digital Image Processing Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

• MEA

  • Kingdom of Saudi Arabia

  • UAE

  • South Africa

List of Key Players in the Digital Image Processing Market

• Nvidia Corporation

• Canon Inc.

• Samsung Electronics Co. Ltd.

• Panasonic Corporation

• Cognex Corporation

• Teledyne Technologies

• Vegavid Technology

• Visionary.ai. 

• IBM

• Microsoft