Image Recognition Market 2030 Rising Demand, Opportunities, Future Scope, Market Status
The global image recognition market size was valued at USD 53.3 billion in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 13.4% from 2024 to 2030. This growth is attributed to the increasing volumes of image data, advancements in artificial intelligence (AI) and machine learning (ML), and the growing demand for automation across various sectors are pivotal. In addition, the integration of image recognition in applications such as healthcare, retail, and security enhances operational efficiency and customer engagement. Furthermore, the rise of edge computing and mobile solutions further supports market expansion. Image recognition technology, powered by machine learning, has been embedded in several fields, such as self-driving vehicles, automated image organization of visual websites, and face identification on social networking websites. One of the most popular applications of image identification is social media monitoring, as visual list...