Global AI Image Recognition Market - Segmented by Type (Hardware, Software, Services), End-user Vertical (Automotive, Healthcare, Manufacturing), and Region - Growth, Trends, and Forecast (2018 - 2023)

  • ID: 4534522
  • Report
  • Region: Global
  • 99 pages
  • Mordor Intelligence
until Dec 31st 2018
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  • Google LLC
  • IBM Corp
  • Intel Corporation
  • Micron Technology
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AI image recognition market is expected to register a CAGR of 31.9%, during the forecast period (2018 - 2023). Owing to advancements in AI, software now have the ability to recognize photos and videos and describe the content of it. The market is expected to grow rapidly owing to increased adoption of high computing chipsets. AI image recognition provides abundance of benefits, such as enhancing safety features in cars by detecting large objects. Other benefits include verifications of users, client analysis, diagnosis of diseases, and many more. Declining costs of hardware and rapid adoption of AI are a few factors driving the growth of AI image recognition market, on the other hand, lack of technical expertise is inhibiting its growth.

Increasing Use of Big Data Analytics

The creation and consumption of huge amount of data has paved way for the usage of big data analytics. Companies, such as Amazon, Google, and Microsoft are investing in big data analytics. Big data analytics will be used in image recognition to provide benefits, such as traffic safety, improved health services, and many more. Many organizations are using big data analytics in image recognition to extract valuable insights and improve customer experience, thus increasing their top line.

North America is Expected to Dominate the Market

North America is expected to hold the largest share of this market owing to significant adoption of advanced and new technologies. Increasing number of electronic gadget integrated with AI image recognition technology will also provide boost to this market. Moreover, most of the companies are headquartered in this region and thus, would aid North America in holding the largest share.

Key Developments in the Market
  • March 2018 - Microsoft released new version of Azure SDK for Go- version 15. Azure SDK for Go provides packages for managing and using Azure services
  • November 2017 - Amazon Web Services (AWS) announced five new machine learning services and the deep learning-enabled video camera for developers. Amazon Transcribe, Amazon Translate, Amazon Comprehend, and Amazon Rekognition Video allow app developers to easily build applications that transcribe speech to text, translate text between languages, extract insights from text, and analyze videos

Reasons to Purchase this Report
  • To know how various factors are driving the market with respect to the global market scenario
  • To analyze various market perspectives, with the help of Porter’s five forces analysis
  • To understand, which of the regions is expected to witness the fastest growth rate during the forecast period
  • To identify the latest developments, market shares, and strategies that are employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in excel)
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  • Google LLC
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  • Intel Corporation
  • Micron Technology
  • Microsoft Corporation
  • NVIDIA Corporation
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1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Market Definition
1.4 Key Findings of the Study

2. Research Approach and Methodology

3. Executive Summary

4. Market Dynamics
4.1 Market Overview
4.2 Factors Driving the Market
4.2.1 Declining Costs of Hardware
4.2.2 Increasing Use of Big Data Analytics
4.2.3 Growing AI Adoption
4.3 Factors Restraining the Market
4.3.1 Lack of Technical Expertise
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Industry Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products or Services
4.5.5 Competitive Rivalry among Existing Competitors

5. AI Image Recognition Market Segmentation
5.1 By Type
5.1.1 Hardware Processing Unit Memory Network
5.1.2 Software
5.1.3 Services
5.2 By End-user Vertical
5.2.1 Security
5.2.2 Healthcare
5.2.3 Automotive
5.2.4 Retail
5.2.5 BFSI
5.2.6 Others
5.3 By Geography
5.3.1 North America
5.3.2 Europe
5.3.3 Asia-Pacific
5.3.4 Middle East & Africa
5.3.5 Latin America

6. Competitive Intelligence - Company Profiles
6.1 Google LLC
6.2 Amazon Web Services (AWS), Inc
6.3 IBM Corp
6.4 Intel Corporation
6.5 Qualcomm Corp
6.6 Samsung Electronics
6.7 Micron Technology
6.8 Microsoft Corporation
6.9 NVIDIA Corporation
6.10 Xilinx, Inc

7. Investment Analysis

8. Future Outlook of AI Image Recognition Market
Note: Product cover images may vary from those shown
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4 of 5
  • Google LLC
  • Amazon Web Services (AWS) Inc
  • IBM Corp
  • Intel Corporation
  • Qualcomm Corp
  • Samsung Electronics
  • Micron Technology
  • Microsoft Corporation
  • NVIDIA Corporation
  • Xilinx Inc
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown