According to a new market research report “Image Recognition Market by Technology (Digital Image Processing, Facial Recognition, Pattern Recognition), Component (Hardware, Software, and Services), Deployment Mode (On-premises & Cloud), Application, Vertical, and Region – Global Forecast to 2025″, published by MarketsandMarkets, the market size is projected to grow from USD 26.2 billion in 2020 to USD 53.0 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 15.1% during the forecast period. High technological advancements in image recognition technology to drive market growth
Browse and in-depth TOC on “Image Recognition Market”
247 – Tables
45 – Figures
243 – Pages
Request a Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=222404611
By service, the professional service segment to register the highest growth rate during the forecast period
Professional services include integration and deployment, support and maintenance, and consulting services related to image recognition solutions. Image recognition vendors provide technical support during the implementation and use of image recognition solutions. Maintenance services include providing enhancements to solutions and assisting in resolving issues in deployed solutions and is forecasted to have the highest CAGR among the other professional services. The demand for professional services is expected to increase with the deployment of image recognition solutions
Based on vertical, healthcare to grow at the highest CAGR during the forecast period
The healthcare vertical comprises hospitals, health clinics, medical and dental practices, healthcare equipment and services providers, pharmaceutical companies, biotechnology companies, and providers of related life sciences services. The healthcare vertical is rapidly deploying cutting-edge technologies to offer patients improved, intuitive, and personalized care and experience. Image recognition solutions help healthcare organizations address the security issues related to users’ credentials and help them deliver an enriched experience to their patients. Therefore, healthcare registers the highest growth rate during the forecast period.
Inquiry Before Buying @ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=222404611
North America to hold the largest market share during the forecast period
North America has the presence of several prominent market players delivering image recognition solutions to all end-users in the region. The US and Canada both have strong economic conditions and are expected to be major contributors to the growth of the image recognition market. The geographical presence, significant Research and Development (R&D) activities, partnerships, and acquisitions and mergers are the major factors for the deployment of image recognition and services.
Key and innovative vendors in the image recognition market include IBM (US), Google (US), Qualcomm (US), Microsoft (US), AWS (US), Trax (Singapore), NEC Corporation (Japan), Catchoom (Spain), Slyce (US), LTU Tech (France), Vispera (Turkey), Blippar (UK), Clarifai (US), Wikitude (Austria), Huawei (China), Honeywell (US), Toshiba (Japan), Oracle (US), Trigo (Israel), INFFRD (US), AIRY3D (Canada), Standard Cognition (US), Unispectral LTD (Israel), Snap2Insight (US), restb.ai (Spain), Vize by Ximilar (Czech Republic), Mirror that Lock (US).
Browse Adjacent Markets @ Software and Services Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.