Global AI Image Recognition Market- Forecast and Analysis (2020-2027),
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Global AI Image Recognition Market was valued at USD xx Mn in 2019 and is expected to reach at USD xx Mn by 2027 at a CAGR of xx% over the forecast period 2020-2027.
Global AI Image Recognition Market
The report covers an in-depth analysis of COVID-19 pandemic impact on Global AI Image Recognition Market by region and on the key players revenue affected till July 2020 and expected short term and long-term impact on the market.
Global AI Image Recognition Market Dynamics:
AI Image Recognition is a process of identifying and detecting an item or feature in a digital picture or video. The sector of image recognition has been widely acclaimed in recent years. The Image Recognition System uses data exchanged by users on different channels, such as social networks, apps and websites. It uses a technology that identifies positions, people, objects, structures, logos, and various variables in images with the aid of artificial intelligence. This idea is used in many applications such as smart picture libraries, targeted advertising, surveillance systems, toll booth control, and factory automation systems. The growth of the demand for image recognition can be attributed to the growing usage in the retail and BFSI sectors of high-bandwidth data services. Smartphones and camera devices are attracting suppliers to invest in the market. The growth of this market is also influenced by the growing demand for security applications and products with image recognition functions. Various businesses in various industries, such as retail, automotive, healthcare, and security, are implementing image recognition technology to a significant extent. Image size and storage in low resolution serve as a threat to the growth of the market for image recognition. Increased use of image recognition technologies, increased demand for security applications and products allowed by image recognition functions and technology adoption by different companies in different verticals are the key factors driving the growth of the image recognition industry.
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Last Update : Jan 08, 2021 5:04 AM
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