Image Recognition Market Projected to Reach USD 165.2 Billion by 2032 | Increasing Adoption in Marketing, Retail, and Security Drives Growth | Research by S&S Insider [Yahoo! Finance]
International Business Machines Corporation (IBM)
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Source: Yahoo! Finance
Pune, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Image Recognition Market Size Analysis: “ The Image Recognition Market , valued at USD 45.6 billion in 2023, is poised for substantial growth, with projections reaching USD 165.2 billion by 2032. This growth reflects a robust compound annual growth rate (CAGR) of 15.4% from 2024 to 2032. ” Trends Impacting the Image Recognition Market The image recognition market is evolving rapidly, driven by technological advancements and the rising demand for automation, accuracy, and efficiency across multiple industrial verticals. The major factor driving the market is the rising demand for AI-driven image detection solutions in areas like retail, marketing, security, healthcare, automotive, and others. As organizations continue to collect large volumes of visual data, the demand for systems that can efficiently process, analyze, and interpret images and videos has risen significantly. Governments across the globe are recognizing the potential of i
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